This week I attended the Steadfast Conference and I was overwhelmed by the number of people who came up and gave encouragement and positive feedback on this blog. I think the most telling thing to me has been the number of people who mentioned they have gone out and purchased a fire extinguisher following my post on the fire in my own home. The list […]
Have we learned anything in claims from the Royal Commission?
The Royal Commission really brought out a few reoccurring themes. One was all about culture, a second about failure to act in good faith and third considering the customer experience. Linked to this are two issues that keeps popping up, and I have written on both before. The first is certainty of contract and the second is treating the insured fairly. Earlier this week I […]
More on engineers’ fees
Earlier this week I posted an article explaining the coverage afforded by the additional benefit found in most quality property insurance policies, both home and commercial, for architects, engineers, clerk’s of works etc. This morning I received this note from one of the LMI team in New Zealand. I have read your article on professional fees with interest as I had a similar argument with […]
Product Recalls Australia – 27 March 2019
This week’s product recalls includes: Kidstuff Direct Pty Ltd — Freeplay Toy Archery Set Shen Neng Herbal Medicines Group Pty Ltd — Shui An and Yang Xue Sheng Fa Capsules Bridgewater Poultry — Woolworths 12 Cage Free Eggs, Victorian Fresh Barn Laid Eggs and Loddon Valley Barn Laid FCA Australia Pty Ltd — Alfa Romeo Giulia and Alfa Romeo Stelvio MY2017-2019 Meals on Wheels SA […]
Anyone who flies a drone to be licenced and all drones to be registered from July 2019
Regular reader of this blog, Sam [surname and email provided] shared with me a news article explaining that everyone who flies a drone will have to obtain a licence and all drones will need to be registered from July 2019. This is not unexpected news due to all the reports of irresponsible people who have flown drones in places or in ways that they ought […]
Architects, Surveyors’ & Similar Fees – what cover is being provided to an Insured?
This question has been put to me by several of the LMI team who are being advised by loss adjusters that these fees are only in respect of the reinstatement. So, this then leads to the question of when does reinstatement commence and what does it include? Claims where this debate seems to be reoccurring is under the Industrial Special Risks (“ISR”) policy. The answer […]
Domestic Boiler v Commercial Boiler
Following on from my post yesterday, I received a question asking how would a commercial premises ever have a boiler for domestic purposes? The reality is, exactly the same boiler could be used for commercial purposes in one business and only be used for domestic purposes in another. When it comes to insurance, a boiler, say a hot water system or a coffee machine that […]
Back to basics – is lightning covered under the peril of storm and tempest?
I post this article in response to a question put to me by an insurance broker whose client was hit with a higher deductible that applies to storm and tempest for a claim arising from a lightning strike. Well maybe, maybe not. Let us turn to a review of the history of fire and perils insurance coverage for the answer. On the one hand, I […]
Another example of why we need insurance
On Saturday, one of our team was out fishing with a friend and was returning back to the boat ramp late afternoon to pull up the boat onto the trailer. While doing this, another SUV, valued in the range of $100,000 reversed down to launch a jet ski. The driver got back into the car upon launching the Jet Ski and then not realising the […]
Our safety at risk
The Australian Competition and Consumer Commission (“ACCC”) has warned deaths and injury caused by unsafe consumer products costs at least $5 billion a year but amazingly there’s no law against the sale of such items. Speaking to the National Consumer Congress in Melbourne last week, the ACCC chair Rod Sims said there are around 780 deaths every year caused by consumer products Australians have in […]