Why your clients shouldn’t rely on the BPI or CPI without a building insurance valuation. Guest Contribution – Andrew Nock

I received this article from Andrew that I found informative and thought I would share: “It’s a common misconception that it’s ‘accurate enough’ to forgo a building insurance valuation and rely on the Consumer Price Index (CPI) and or the Building Price Index (BPI) to update sums insured each year. Firstly, if there is no professional independent valuation, there is no accurate foundation for these […]

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Australian Cyber Security Centre – Threat Report

I received this interesting article from the Australian Cyber Security Centre regarding the cyber threat to Australian organisations which I thought I would share. I have listed some of the key findings which are detailed in the report : Cyber adversaries – an individual or organisation that conducts cyber espionage, crime or attack Cyber Espionage – offensive activity designed to covertly collect information from a […]

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Will your insurance policy(ies) be effected if you open up for AirBNB

The tragic death of a guest at a AirBNB has once again reminded me of the potential risks of opening your house up via AirBNB or any similar service. In this case, the homeowners were effected by the death of a guest. As I have reported in earlier posts, it is likely that your home policy will not respond to theft and or damage caused […]

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When is a collection a collection?

Following my post on Friday warning on the sub-limits that apply to collections under Australian home contents insurance policies, I had a number of people write asking what constitutes a collection. One suggested that a collection is when the group of items has a combined value as a group than they would if valued separately. While this sounds logical, the definition that would be used […]

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First thoughts following the latest attacks in Paris.

Many things come to mind when you hear of a terrible terrorism attack such as occurred in Paris on Friday, French time.  The first is that such attacks should not stop any of us from travelling and visiting beautiful places/cities such as Paris. For not to travel would mean the terrorists have had a win and that is something that cannot happen. It was really gratifying to most of us the […]

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Podcast on collections under a home contents policy

Following a interesting case involving a collection that was destroyed in an earthquake, Steve Manning and I go over the issues in a podcast that I hope you find interesting and informative. Click here to view.

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Insurance can learn from the interrupters?

I was honoured to be asked to speak at the Insurance Council of New Zealand’s (“ICNZ”) annual conference yesterday. I really enjoy this conference for a wide range of reasons. It is certainly one of the best in Australasia and I encourage anyone who has the chance to go along, to attend. One of the many take away points from the conference was the way […]

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Another example of false economy when it comes to flood mitigation.

The latest example comes from South Carolina Flood Damages as reported by CBS Evening News. As the recovery from the South Carolina flood continues, people begin to count the cost. Recent flooding in South Carolina is the worst on record for the area. At least 19 people have died in the floods, 14 dams have failed and 62 others are at risk of failure. The […]

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Territory Insurance Conference 2015

Steve Manning and I have just returned to Melbourne after attending another successful, and ever growing, Territory Insurance Conference. Over 330 people attended this, the 4th Territory Insurance Conference, with numbers significantly increased this year. Steve presented an informative talk on Business Interruption and how to calculate a claim under this class of insurance. On the strength of his presentation he has been asked to deliver further training […]

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LMI Group Features in This Weeks Insurance News

LMI Group featured twice in this week’s edition of the very popular and informative InsuranceNews. The first article refers to my recent talk on new market entrants moving away from community rating to risk rating flood, cyclone bush fire covers as one of the topics I spoke on at last week’s very successful Territory Insurance Conference in held in Darwin: http://www.insurancenews.com.au/local/market-entrants-picking-low-risk-flood-covers The second article details a recent meeting held by the insurance broker education […]

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