Product Safety Update – 25/11/2016

This week’s product safety recalls include: Trek Bicycle Corporation (Australia) Pty Ltd — 2014 Farley and Farley Frameset & 2015 Farley 6 and Farley 6 Frameset Read more Volvo Car Australia — Volvo S60 and V60 Read more PS Importers Pty Ltd — Selected Triumph Motorcycles Models Read more Bentley Motors Ltd — Bentley Bentayga Read more Suzuki Australia — APK Vitara Diesel Read more […]

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Recent decision on visiting slipping on a wet household step is a reminder why you need contents insurance.

One of Steve Manning’s early YouTube vlogs (video blogs) explained why it was important for all of us to have contents insurance. He explained it was not just to cover you for the loss of your household contents but to both his and my mind, it is the public and personal liability coverage that you have with the policy, typically $20 million. To view the […]

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Blog Question: Run off cover under a Product Liability policy

First of all, I need to explain that I am now receiving so many questions from all around the world, each and every day, including weekends, that I am struggling to keep up and so there may be a delay to some of you, particularly as I travel around delivering my training sessions. The team at LMI are helping me as much as they can […]

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The New Zealand Government needs to abolish the Fire Service Levy on Insurance

As you all know, I have worked strongly over the years looking at getting the Australian government to abolish all tax on insurance, namely the Fire Service Levy, from all states. We have been successful in many areas, the New South Wales government is currently phasing out the Fire Service Levy there. Last month however I could not believe that while Australia has almost got […]

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Blog Question: Business Interruption claim following damage to a motor vehicle at the situation

This is the question put to me: Hi Allan, If a storm damages a truck on site, does the Insured have recourse for the hire cost through their AICOW [Additional Increase in Cost of Working] cover under their ISR [Industrial Special Risks] policy having successfully claimed under their motor policy for the damage? Regards Jorge [surname and email provided] ======= My response was short and to […]

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Drones attacked by birds

Gary Everdell an old friend from my days at General Accident and now with Aon wrote knowing my interest in drone technology to warn me that some drones are being attacked by birds. Here is a link to the ABC article: http://www.abc.net.au/news/2016-11-17/wedge-tailed-eagles-bring-down-drones-in-goldfields/8033056 Simon Hooper from QBE Aviation, who is one of the pioneers of insurance for drones (more correctly unmanned flying vehicles [UAVs]), and the insurer we […]

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Product Safety Australia Update – 18/11/2016

This week’s product recalls include: IKEA Pty Limited — Riso, Bussan and Jordbro beanbags Read more Vegan Perfection — Bonvita Rice Milk White Bar Read more Toshiba Client Solutions ANZ Pty Limited — Battery Packs used in certain Toshiba Laptops Read more FCA Australia Pty Ltd — 2016 – 2017 JK Jeep Wrangler Read more KTM Australia — All 2013 to 2016 KTM 1190 Adventure, […]

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The difference between Home and Strata Insurance

A number of insurance brokers have contacted me of late concerned that unit holders and body corporates are obtaining quotations from comparator sites and some new entrant direct insurers on their body corporate or their individual unit. This of course is a nightmare situation as the cover afforded under a home building policy is totally different from a residential strata complex. Issues such as common […]

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Changes to the rules around smoke detectors in Queensland homes

I share an update provided via Hayley Enders of Belle Property Carina. Thank you Hayley. “Queensland homes will be required to be fitted with photoelectric, interconnected smoke alarms in all bedrooms, as well as hallways as part of legislation passed in parliament this week. All houses being built or significantly renovated will need to comply with the smoke alarm legislation upon completion after January 1, 2017. “All […]

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Blog question: Gross Rentals & Removal of Co-Insurance for Additional Increase in Cost of Working

I received this question which led to another on Gross Rentals and Additional Increase in Cost of Working Hi Allan, Our client is an owner occupier of a furniture manufacturing business (as occupier they’ve setup a Pty Ltd entity, and as owners, insured the building in their personal names). They have AICOW [Additional Increase in Cost of Workin] and Gross Rentals insured, but do not […]

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