The LMI Library continues to grow through 3 methods. Purchases we make when we see a newly published book on an insurance or risk management topic; Books that I or the team at LMI publish; and The very generous donations by those in the insurance industry who are looking for a good home for their own collection/library. Over the past week we received two wonderful […]
Cyber Breaches the new norm
Further to my recent article (Click here) where Fairfax Media revealed two cases in which more than $1.25 million was stolen from vendors while their properties were being settled on Property Exchange Australia’s PEXA e-transfer system, I am pleased to see that they were able to recover a large proportion of any monies unlawfully taken, however not all. This news also breaks with the announcement […]
Lord Atkin Exhibition – Supreme Court of Queensland
Lord Atkin, the Chief Justice of the House of Lords is famed for his decision in Donoghue v Stevenson [1932] UKHL 100, regarded by many as the most important case in the 800 years of the common law. Not many people are aware, including Steve Manning and I until we started our research for our book on the case and its impact on society and general […]
Conveyancing Money Transfer System hacked
I have received phone calls and emails from several law firms following the interception and illegal transfer of clients’ money (I understand there have been at least two incidences). Thieves have managed to hack into the software system PEXA (Property Exchange Australia), the nation’s new online property transfer system. The fraudsters had gained access via the conveyancer’s email account, and diverted the money into their […]
Product Recalls Australia – 26 June 2018
This week’s recalls includes the following: Audi Australia Pty Ltd — Selected MY 2018 Audi Q5 (FY) Bunnings Group Limited — SmartSpace Kit Home Electrical Components Automobili Lamborghini SpA — Aventador Coupe and Roadster FCA Australia Pty Ltd — 2014-2018 (KL) Jeep Cherokee PS Importers Pty Ltd — Triumph Motorcycles – Various Models SA Sprouts — Various Sprouts Packs BRP APAC — MY 2018 Can-Am […]
Compulsory Third Party Insurance Explained
When the statistics came out showing just how few people understood Compulsory Third Party Insurance, it created quite a discussion with several of my longest standing friends. Within LMI, there are a number of our staff who have been involved in motor vehicle accidents where the third party had no insurance at all. The worst was an overseas student, who had borrowed a friend’s car, […]
Please take a minute and have your say
I appreciate that it is a very busy time for many people in the insurance industry, but the survey for this year’s Mansfield Awards for Claims Excellence closes at 8am on Tuesday. So please take a few minutes over the weekend and have your say on who has done the right thing, lifted their game, let you down or anything in between. A reminder that […]
Blog question – ISR Mark IV or Mark V, which is better?
I received this question which is not that easy to answer. On more than one occasion I have come up against a competing broker who states to clients that Mark V is better than the Mark IV therefore even if the Mark IV terms are more competitive the client has been so bamboozled they believe it. What is your view, is the Mark V better […]
Dame Joan Collins thoughts on claims preparers
When Steve and I were over in London last, we met with the director Alex Balcombe of Harris Balcombe one of two firms vying for the title of the longest running claims preparation company in the world. They are one of the foundation members of the International Institute of Claims Preparers (“IICP”) and now have the 6th generation of the one family still involved. Alex had […]
Driver-less car technology fails a pedestrian. Lessons still to be learned.
While visiting my daughter in Phoenix, Arizona at the start of the year I saw a number of driver-less Uber vehicles driving around the University of Arizona campus in Tempe (a suburb of Phoenix). At that stage, all the vehicles had a driver and you could opt to have the car drive itself or have the driver drive it. Having borrowed my daughter’s car I […]