A question that I have answered hundreds of times – the pros and cons of insuring for indemnity

In the last two days I have had very similar questions and thinking about it, it would be one of the most common questions put to me and I am surprised I have not posted an article on it before now. Good Morning Allan, Please can you advise if you have an article advising the Pro’s and Cons of insuring Commercial Buildings on an Indemnity […]

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How can such a great country as New Zealand get it so wrong?

Of all the countries in the world, I admire New Zealand  more than any other. Their political leaders were, in 1893, the first in the world to give women the vote. It is the country that nurtured the pure genius of Nobel Prize winning scientist Ernest Rutherford. No such list would of course include the bravery and determination of Sir Edmund Hillary. Rutherford and Hillary both […]

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Product Safety Australia – 18/04/2017

This week’s product safety recall notices include the following: Panasonic Australia Pty Ltd — Panasonic Tablet FZ-G1 (Mk1 to Mk3) and Battery Pack Read more Volvo Trucks — Volvo FH(4) & FM(4) Trucks Read more Studio Periscope — Gumnut Candle Holder Read more Volkswagen Group Australia — Golf, Scirocco, Tiguan, Passat, Transporter, Multivan & Amarok Read more Skoda Australia — Skoda Superb Read more   […]

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Business Interruption Issues Series – Part 5 – Time Excesses – Part D – Possible Solutions

After addressing 3 common problems in time excesses last week, I return to the topic with some possible solutions. What is the Answer? I would suggest there are several answers to the problems of time deductibles, and would like to explore three with you. The first is to replace the excess/deductible with a franchise. If the insured business is disrupted due to an event for a […]

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Business Interruption Issues Series – Part 4 – Time Excesses – Part C

  This is the third post in this series on time excesses and the fourth on common business interruption issues that started on Monday 10th April 2017.   I continue the examination of time excesses using another case study. Case Study 3: The Policy will not Cover Losses within the First 48 Hours The third case involves a wording that states the policy will not cover […]

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Business Interruption Issues Series – Part 3 – Time Excesses – Part B

Today, we continue our discussion on time deductibles. As I did yesterday, I draw on a case study to explain an issue. Case Study 2: 24 Hours after Cessation of Supply This case study involves another large manufacturer. In this case, the wordings for the time deductible is contained within the Public Utility clause provided that cover does not commence until “24 hours after cessation of […]

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Business Interruption Issues Series – Part 2 – Time Excesses – Part A

Following on from yesterday’s article on part insuring a standing charge, I move to time excesses for the rest of this week. When I wrote the first edition of my book on Business Interruption, time excesses were relatively new, except for particularly large risks, especially in the mining industry. The large number of business interruption claims that arose from the gas crisis in Victoria, Australia in September […]

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LMI Mining attending claims due to Cyclone Debbie

There has been a good deal of news regarding the effect of Cyclone Debbie on the supply of coal to the world. We at LMI have been keeping a close eye on this and assisting many mining clients to calculate their business interruption losses as a result of the damage. What many readers do not know, is that LMI have a specialist mining division that […]

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Business Interruption Issues Series – Part 1 – Insuring a Business Expense/Standard Charge

Last week LMI’s Max Salveson and I had the rare privileage of meeting a some of the best underwriters and technicians in Australia when it comes to the Industrial Special Risks (“ISR”) Policy. As I continually say, we are all students of insurance and despite all I have read, and written on the policy not to mention the 1,000 plus claims I have calculated under this policy I […]

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Happy Birthday Blog

Today marks the 3rd birthday of this blog starting on 10th April 2014. Since then, 950+ posts have been published and by sharing it on LMI and my own personal Linked In, Twitter and Facebook pages over 10,000 subscribe and over the total reads has been over 1,000,000. The posts that get the most attention are when I have a rant but this cannot and should […]

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