I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% […]
Testing and Tagging – A legal requirement
This is a reminder that in Australia, the requirement for testing and tagging electrical equipment is based on the Australian New Zealand Standard (AS/NZS 3760). While the requirement for testing and tagging has been in place for some time, the current standard is the 2022 version, with the specific requirements being up-to-date with the latest revisions from 2022. The requirements for items such as power […]
Does my Landlords Insurance Policy cover terrorism
This is the fourth post in a series that looks at the coverage afforded by various types of insurance products. The series was prompted by a large number of requests for clarification following the senseless attacks that are going on predominately in Melbourne and Sydney. These attacks would appear to fall within the definition of terrorism as set out in legislation. Today we look at […]