The terrible bushfires that have caused such widespread damage in the Eastern states, particularly in New South Wales during October 2013, demonstrate the need for fully funded and highly trained fire and civil defence services. Both the human and monetary cost to the economy that results from devastation such as this, means that to do otherwise would be negligent in the extreme. No doubt and […]
Insurance Byte podcast – Changes to PolicyComparison
As posted recently October celebrates the 10th anniversary of www.PolicyComparison.com. The first cheque we received was from Shepparton based insurance brokers Griffith Goodall with their cheque dated 23 October 2003. From this very modest start the site has become a business in its own right employing nearly 2o people to keep the exsisting comparisons up to date and adding new product classes. Product Recall and Private Travel are expected to be added before Christmas […]
What Makes What I Do Worthwhile
Feeling depressed at the adverse media reaction that the insurance industry received following the Queensland floods of 2011, culminating with the socially irresponsible and completely undeserved Shonky Award handed out by Choice Magazine; it made me think how on earth can I get people to understand the importance of risk management and insurance? Insurance is not taught in schools or in most university courses, including […]
More Old Policies for the LMI PolicyLibrary
An ex broker was tidying up his garage at home and found a filing cabinet full of old policies. Thankfully, rather than throw them out, he rang me and I collected them as a valuable addition to LMI’s extensive library of old policies. In another recent case, a long standing friend was visiting his grandmother in New Zealand and found all the polices that she […]
Understanding “Without Prejudice” and where not to use it
I am helping from afar, an insurance broker who has a claim of their own. I was asked to review a letter of demand that the broker had drafted and I immediately noted that it was headed: Without Prejudice. This is a common mistake that I see and have corrected countless times. Rather than keep doing this, I thought I would say a few words on […]
The messy introduction & transition of the funding of Fire Services continues!
Like many within the Insurance Industry I could not believe it when I saw a large Public Warning in the Herald Sun warning the public against brokers. It makes it look like every insurance broker in the State is engaging in dishonest behaviour and yet this is of course far from the truth. While this may be justifying the position of the Fire Service Levy […]
Is $10,000 combined limit for debris removal and architect’s fees providing genuine protection to home owners?
Back in July I wrote an article expressing concern that some of the supermarket badged wordings around the coverage for flood. http://www.allanmanning.com/when-is-flood-insurance-not-flood-insurance/ With the bushfires in New South Wales and elsewhere I revisited the wordings to look at some of the key benefits provided by home and contents policies in Australia. Having only a few days ago written an article on removal of debris (refer […]
Trying to paint the industry and the role of brokers in a positive light
I had the privilege of being asked by Ross Greenwood of 2GB in Sydney to answer some questions regarding the current bushfires in New South Wales. Here is a link to the interview for those that missed it. http://www.lmigroup.com/documents/allan%20on%202gb.mp3 Hopefully, the event and this discussion will prompt people to look at their insurances and realise that it is not about price but protection. I did […]
Tips in Preparing a Expert Report for the Court
I prepare anywhere between 1 and 4 expert reports on insurance matters each month. Typically, my work involves an issue of policy interpretation, availability of coverage or calculation of the loss (quantum). A number of people have contacted me of late to ask advice, as they are being asked to prepare a report for the first time. From the large number of barristers and lawyers […]
Removal of Debris
For my milestone 400th post in this blog, I thought I would choose one of the most popular Google searches that brings people to the LMI Group website. That search tag is “Removal of Debris”. This is not surprising for it is an important issue in many Property claims. With any reinstatement or repair of a building, it is necessary first to remove and/or dismantle the damaged […]