We are handling a large loss for a commercial laundry and dry cleaner and of course there are hundreds of claims from customers. The Insured is an innocent party to the fire just are the customers but the customers are all looking to recover from the dry cleaner. The reality is that unless the laundry operator has been negligent in some way or has assumed […]
A reminder, make that a plea, to record the Uninsured Working Expenses where required on a business interruption schedule
At LMI we have had a real run of claims we are attempting to calculate where the policy, such as an ISR or one of many of the business packs out there which call for the Uninsured Working Expenses to be listed on the Schedule where none have been listed. This of course creates all sorts of issues, potentially the most damaging for the Insured, […]
Risk Management is not set and forget
Last week I was doing an insurance health check on a very complex program for an insured having been engaged to do the review by their broker for 25+ years. The business had grown and was now exporting and entering a period of rapid growth and they felt that a fresh pair of eyes over the account would give them comfort and provide a value […]
Blog Question: claim money to wrong bank account
Good afternoon Allan. I am in need of some advice and hope you can help. I have a client who had a legitimate claim paid by the insurer however, when asked for bank account details to deposit the claim settlement into the clients account the client made a mistake with one number in the bank account number. Subsequently the money was paid into an incorrect […]
A Good News Claims Story
In April last year, Bolwell Corporation suffered a major fire that could easily have been the catalyst for the entire business to fail. Through the good work of their insurance brokers, M & R Insurance Brokers, they had a quality insurance program arranged with a reputable insurer, Allianz Australia who, upon hearing of the loss, worked with their loss adjuster Bob Richards of Cunningham Lindsay to […]