It was pleasing to read in InsuranceNEWS yesterday that the Northern Territory government is removing all stamp duty on life insurance. It did raise a number of questions and thoughts in my mind though which I share with you below. I would ask the Northern Territory Government to consider also removing stamp duty on general insurance. Insurance in the north of Australia is high due […]
Blog Question on Tenant Insuring the Building
The question posed was: Allan, our client has for several years had a policy covering his property, liability, rent, and glass. He has now realised that the tenant also has cover for the building, liability, rent and glass. I have explained to the client that the sum insured on the building is under insured by $1,500,000, he is not covered as a property owner for […]
How to make your clients love you rather than hate you
At a recent conference I explained that following a lowest price strategy was not the way to go for a general insurance broker in the 21st century. I then set out an alternative strategy and explained that one of the golden rules of business was not to make your client’s hate you. I used the example of airlines, which seem to go out of their […]
Why I love what I do
Last Friday, I had a great day. First up, I was pleased to award Feingold Flowergrowers and their insurance brokers, Fitzpatrick Insurance Brokers, with a much deserved Phoenix Award. This signifies, a business that has suffered very severe damage and/or a disruption to the business and survived. The inspiration for the award came from my doctoral research into business survival, which showed that 50% of […]
Uber does a deal in the US on motor insurance
Back on the 3rd October last year, I warned that the exclusion that appears in most private and commercial motor policies which voids the policy in cases where the car /vehicle is being used to carry fare paying passengers is likely to effect Uber operators in Australia. It was therefore pleasing to read that Uber has done a deal with a couple of insurers in the […]