In my most recent post, I explained that commercial strata follows the same rules as commercial property and business interruption as it is regarded as ‘”‘eligible property’. In summary, if the Minister for Finance declared an event a Terrorism Event, then any terrorism exclusion that appears in the policy of insurance of an eligible property is void. Claims will be met in accordance with the […]
Is terrorism covered under an Australian home and contents policy?
Last week I posted an article in regard to terrorism coverage under commercial property, and/or business interruption policies. I also touched on commercial liability coverage. At the request of quite a few readers, I now turn my attention to home and contents. In a day or two I will address Strata and after than residential landlord policies, and finally private motor. This timeline may be […]
Question on Terrorism Exclusion
A concerned Insured wrote to their broker with the following question and the broker in turn asked me to assist to ensure they provided the correct response. Question I have previously spoken to you about the following; however, I would like to have this tabled in writing. Given the current domestic acts of violence, we are witnessing towards [some] organisations and houses of worship, please […]
A quick reminder following a loss.
Following a major insured event, it is often necessary for an insured to relocate, all or part of their business, or in the case of a domestic claim, to alternate premises. With all the stress of the event, finding a new premises suitable to their needs, and managing the move, the ongoing recovery and resinstatement process it is often overlooked to arrange insurance both property/business […]
LMI appointed to assist following the arson attack on the Adass Synagogue in Melbourne.
In the early hours of 6th December, 2024, the Adass Isreal Shul (Synagogue) was set on fire by at least 2 arsonists in what appears to have been a brazen anti-sematic attack. It was fortunate that their were members of the community inside the building in prayer at the time, despite it being very early in the morning and they disturbed the perpetrators. Nonetheless the […]