With the levels of under insurance in most countries around the world of concern to governments and the insurance industry it is clear that an education program is necessary to explain to home and business owners the risk they take by not insuring fully. As most in general insurance knows, business policies covering property such as buildings and contents and the all important business interruption […]
Is it time that the industry considered an ethics committee?
The Federal Government felt the need to introduce the Insurance Contracts Act in 1984 due in part to the perceived lack of good faith in the general insurance industry. Since that time a number of policies particularly in the home and contents space, but not just her,e have had what have been promoted as enhancements. Certainly the sub-limits have increased but most would argue that they have not kept pace […]
New podcast on general insurance
Here is a link to a short video on the basics of general insurance I did for Dollars with Sense. http://www.youtube.com/watch?v=jGznaAqwbP0&feature=youtu.be
Major Losses World Wide
The following is a list of the massive losses that the insurance industry dealt with over the past year or so. These are individual losses as opposed to losses to communities due to natural catastrophes, although the loss at YPF involved flooding. It is pleasing that Australasia do not feature after several years of making the list in the category of major natural catastrophes. 2013 […]