Last week I posted an article on the risk posed by lithium batteries following a number of claims which LMI Claims have recently been appointed to. One of our claims experts Georg Froeschl wrote to say: Hi Allan, I spoke to a building consultant I use here in Canberra (and have done so for nearly 20 years) about this issue. An electric vehicle battery will […]
Congratulations to the YIP’s for a great NT Insurance Conference
In 2011, it was pointed out that the insurance industry in the Northern Territory was really struggling with professional development for members of the profession in the Top End. Luke Harris, then of TIO (now MGA NT), and I developed a plan to create a not for profit conference to be held in Darwin which would allow the insurance community to attend a local event, […]
Lithium Batteries create a real risk of fire
While lithium batteries have been a real game changer in battery development, they certainly have increased the risk of fire, particularly when they are being charged. We have seen an increase in fires caused by such batteries in everything from children’s scooters, battery operated power tools, and e-bikes, to forklifts, drones, golf carts and electric vehicles. I was at a recycling centre the other day […]
Tasmania Pledge to Remove Fire Service Levies for Business Insurance
As readers will know, I and my colleagues at LMI have been actively advocating for the removal of fire services levies on insurance premiums for over 20 years including creating the website NoTaxOnInsurance.com.au in 2006 and submitting a detailed submission to the Black Saturday Royal Commission. Every independent enquiry into this narrow based tax shows that it is unfair and penalises those that insure fully, […]
LMI PolicyComparison.com turns 20!
The upcoming NIBA Conference marks the 20th anniversary of the official launch of LMI’s PolicyComparison.com. The origin of this valuable research site for both brokers and underwriters goes back 23 years to early 2000. Let me explain. LMI Group was given life on the 25th February 1999, primarily handling claims. Within a short time, I noticed that Insured’s were being advised to change Insurer to […]
Live Industrial Special Risks (ISR) Masterclass (Starts 8 Nov)
Another course that we are running, due to popular demand, is my four-part Industrial Special Risks Masterclass series, starting on the 8th November. This series will look at the history of the product development; the schedule; insuring clause; the indemnity; additional benefits; basis of settlement; memorandum to section 1 including extra cost of reinstatement; business interruption extras; property exclusions; perils exclusions; conditions and common endorsements. […]