I have received a large number of email and phone enquiries as to whether damage by meteorites as has occurred in Russia would be covered. The good news is that the impact damage from such an object is a standard cover under the vast majority of policies in Australia. I in fact no of none that exclude it. Beside the impact damage, there was damage […]
I received the following question: Dear Allan, ………… A young colleague asked me the other day as to what triggers a progress payment to an insured under a Business Interruption claim. Would underwriters generally wait to make a single, final payment or, under what circumstances and covers would a progress payment be requested and adjusted. I discussed the important role of a broker in this […]
I start with the good news. As predicted in my early postings, Victorian State Government Fire Service Levies (“FSL”) in Victoria will be reduced again by some insurers, this time led by QBE. As I undersyand it there will be a significant drop in FSL as from 23 March 2013 (removed on home and contents insurance in rural Victoria from this date) and that at least […]
There are literally dozens of new policies and upgrades of existing policies in the Australian market each month. In some months it can be over 100. LMI PolicyComparison has a dedicated team that continually keep updating the site so that subscribers are aware of these changes and any improvements or derogations of cover. I thought I would share a couple that I have personally looked […]
Speaking of LMI PolicyComparison, it is pleasing to see the response that the product is receiving in the United Kingdom since its launch in May 2012. Brokers and Insurers are seeing the benefit of having the independant review of wordings to ensure that the cover they offer contains no hidden gaps in cover which may cause an insured loss to their client and or a […]
I would like to pass on my warm congratulations to Allan Douglas on his being awarded Life Membership of the Australian Fire Managers Association at their annual conference, held last week (6th – 8th February 2013) at the Gold Coast. Allan was awarded the honour due to his outstanding service and dedication to the Association. Well done Allan.