The following question was asked of one of the LMI team who intern asked me to address it. Hi, Sorry – another tech question. Could you advise why the Steadfast Wording requires a sub-limit for Unabandoned Undamaged Portion of a Building. Per the wording, the increase in sale value is regarded as salvage value taken by the insurer? Does having a sub-limit benefit or is […]
Beware of allegation of breach of copyright
Earlier this week LMI received a contact us message from our website claiming that a photograph or photographs on our website were subject to copywrite. LMI have a strict rule around the publishing of photographs and we only use photos one of our team took, a customer or broker we know and trust took and gave us permission to use or stock photographs from a […]
Lithium Batteries a risk management issue.
I read this morning that the NSW Fire and Rescue have today reported that there have been 45 fires directly related to lithium batteries since the beginning of the 2024 year. Sadly also two people have lost their lives in the fires and possibly a third yet to be confirmed. The reality is that Lithium batteries are in many items today and we need to […]
Time to review Gross Rentals Values
One of the ever increasing costs of being a landlord, particularly in Victoria is land tax and property rates. The values of properties are being reviewed by state governements and/or local councils and it is going up year on year. Another trick that some States Governments have introduced, and I again use Victoria as an example is that the property owner only has 60 days […]