Earlier this week I posted an article explaining the coverage afforded by the additional benefit found in most quality property insurance policies, both home and commercial, for architects, engineers, clerk’s of works etc. This morning I received this note from one of the LMI team in New Zealand. I have read your article on professional fees with interest as I had a similar argument with […]
There are a couple of areas of the law that can appear to be unfair to an insured. A recent case has highlighted one. In Globe Church Incorporated v Allianz Australia Insurance Limited & Anor  NSWCA 27 Globe Church argued that time started to accrue when the ISR insurers breached their obligations under the policy by not indemnifying Globe Church and not from the […]
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 […]