With Autumn now upon us, it is an important time to check and clean out your gutters and downpipes to avoid the chance of water entering your home or business. In a recent check I was staggered to find a plant had been growing in the rain head in one of our downpipes. I also found that leaf guards that we had fitted to keep […]
Journal Article Examines Impact of Residential Fire Sprinklers on E-Scooter Fires Caused by Thermal Runaway of Lithium-Ion Batteries
Due to the number of fatal and or serious fires involving e-scooters, we at LMI have been doing a lot of research around the risk posed by lithium batteries with the aim of producing a comprehensive course to help the industry and the public understand this risk. On a personal note, other than phones and tablets, I do not allow any charging of lithium batteries […]
Burst flexi hoses are a major cause of losses in homes and residential strata.
Yesterday, I posted an article on lithium batteries in e-scooters which is an area of interest in our risk management division. Today I turn my attention to losses resulting from burst flexi pipes. The reason for this is that the frequency and severity of the losses from burst flexi pipes is increasing, particularly in residential strata but also in free standing homes. Steve Manning prepared […]
Question on Notice of Cancellation – War and Strikes Risks (only).
With the outbreak of hostilities in and around the Middle East many insurers have exercised the War Cancellation Clause in their hull or cargo policies. This has prompted a number of questions being put to me as Insured’s and Brokers were naturally disappointed. First up, I would explain that this is not a new development. While the exclusion of war risks (“Free of Capture and […]
ASIC Launches Financial Complaints Data Dashboard.
ASIC did a media release today which announces the launch of a financial complaints data dashboard. The media release reads: Australians now have unprecedented access to consumer complaints data following the launch of ASIC’s new interactive dashboard. The Internal Dispute Resolution (IDR) data dashboard enables users to compare the complaints reported by individual financial firms for the first time, including their handling of complaints associated with specific […]
A case of loyalty being rewarded by an insurer with compassion.
Last week I posted the story of an insured who had inadvertently allowed their insurance to lapse last October. They only found out that this was the case when they attempted to lodge a claim when a stolen car drove into the front of their home. The Insured’s sister contacted the insurance to arrange for insurance to be reinstated on the house, so it was […]
A costly oversight – make sure your insurance is current
I received one of those calls yesterday at around 4.50pm that make you ill in the stomach. Obviously 100 times worse for the owner of the home. What occurred a stolen car was driven into the home before the thief, who lost control of the car, ran off on foot before anyone could stop him. The only good news was that the husband who is […]
Thanks for all your kind wishes
Just a short post today to thank all those who phoned, sent texts, emails and comments expressing their condolences on the passing of Max Salveson on Monday. So many shared wonderful stories about how willing Max was to share his vast knowledge. I end with just one of the many such comments from Peter, a highly respected insurance technician. Will dearly be missed, a true […]
Vale Max Salveson
It is with a very heavy heart that I write to advise that Max Salveson passed away yesterday after a long battle with cancer. Max started his career in 1950 with the Union of Canton in Adelaide. He rose to the position of AGM Underwriting with GRE Insurance from 1980 to 1988. The GRE, now Zurich, having acquired the Union of Canton. Max joined the […]
Smoke alarms in the home – the regulatory requirements are inadequate
In view of the engagement with our community, following our analysis of the Swiss nightclub fire, Terry Jackson and I explore how we believe the current regulatory requirements in some jurisdictions are inadequate to protect the life of the occupiers. I hope that most people, and certainly those of us in the general insurance industry are aware of the legal requirement to have smoke alarms […]