Over the past couple of years there has been much talk of setting up a mutual to cover property risks in North Queensland. The reality is, had one been set up, this one event occurring in the first year of operation would have more than likely bankrupted the mutual and those that Insured through the mutual would have lost their premium and found themselves inadequately […]
When I started in insurance, storm and tempest to fences was excluded property. This remains the case in many commercial policies although some have sub-limits. While stationed in Perth from mid-1990 to September 1991, one insurer started to offer storm and tempest cover to fencing. At the time, my thought was: do you know the pandora’s box you have just opened up? Yet the market […]
News.com.au reported on Friday that Melbourne was expecting a months worth of rain in one day. All across the state we saw cars stranded by flood waters as a result of the heavy downpour. And more is on the way according to the bureau. “The SES had more than 720 callouts in 24 hours since Friday 9am. Richmond, Darley, Werribee, Bacchus Marsh and Hawthorn were the […]
I read the article in insuranceNEWS in which it was reported that the NSW parliamentary Legal Affairs Committee, which held an inquiry to consider the impact of the abandoned reform, “found the NSW Government’s failed implementation of [the reform] was a poor public policy decision, undertaken without adequate understanding of the complexities of the issue or the impacts of the proposed reforms.” What beggars belief is that […]
Back in January of this year, the Bureau of Meteorology published a very interesting article on how a bush or forest fire can create its own weather. I see that the ABC News has picked up the story and I agree it is worth sharing and understanding. Here is a link to the original article.
As reported in Insurance News, New Zealand Insurers are working once again to abolish the unfair fire and emergency services levy imposed on Insurance policies. Those who have followed me for a while know the hard work we have put in to fight the same thing here in Australia, where we have been successful in Victoria and through www.NoTaxOnInsurance.com where we continue our efforts for the […]
A lot of world’s insurance premium pricing is based on the US Hurricane Season so it is not a good start when such a significant hurricane arrives so early in the season. While our thoughts and prayers are with all of the people in the path of Hurricane Florence, I hope for everyone’s sake that it is not as severe as predicted and damage is […]
Today, I consider to be a great day, for it is when I completed the final proof read of my latest book. This one is different as for the first time I co-authored with my daughter, Susan. The book looks at 6 major events over Chicago’s history. These are: The Great Chicago Fire The Haymarket Riots The Iroquois Theatre Fire SS Eastland Tylenol Murders The […]