Our politicians are so out of touch!

Our politicians are so out of touch!

It was reported last week that Assistant Treasurer Mr Sukkar (Liberal) called on the State Government in Queensland (Labor) for the removal of stamp duty on insurance in North Queensland. When asked the appropriate question as to whether he would ask the New South Wales government (Liberal) to do the same he said that it was not such an issue in that state. First up, […]

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Isn’t your home worth good insurance?

Isn’t your home worth good insurance?

The old saying goes that every person’s home is their castle. Castles were made to be protected, as like the modern home, they house the people and possessions that mean the most to us. A good insurance policy by its very nature is the last line of protection. The reality is that even the best maintained property can be subject to an accidental fire, storm […]

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An Enquiry into the construction industry is long overdue

An Enquiry into the construction industry is long overdue

The long list of failures to deliver safe buildings continues to grow following the fires in high rise buildings with non conforming building materials, the walkway collapse between the Alluvian building and West Australia Square in Perth and the severe cracking in several buildings in New South Wales. Add to this the ever increasing list of faulty products being imported into Australia including electrical wiring […]

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Even before we get a chance to stuff up, we are being criticised by the media and politicians. Let’s get real.

Even before we get a chance to stuff up, we are being criticised by the media and politicians. Let’s get real.

I thought, with the long overdue departure of Karl Stefanovic, who so unfairly attacked the industry after the Brisbane floods that I stopped watching the Today Show, that we would be getting more balanced reporting by the media. However, no doubt picking up on the Deputy Premier’s call for banks and insurers to “lift their socks” and show compassion to North Queenslanders’ affected by the […]

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The floods in Townsville should put an end to any talk of a mutual

The floods in Townsville should put an end to any talk of a mutual

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 […]

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Storm chaos in Melbourne – timely reminder of the dangers of flooded roads

Storm chaos in Melbourne – timely reminder of the dangers of flooded roads

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 […]

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Australia’s failing infrastructure

Recently, I wrote about issues with electricity infrastructure not keeping up with development. The same issue is occurring with storm water drains. Water damage arising from storms is one of the greatest causes of property insurance losses in Australia, so it should be of great concern to see that our councils and water authorities do not seem to be investing in the infrastructure to protect […]

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I cannot understanding headlines like this..

For the past month I have been working over in the United States as LMI launches products such as our Business Income (BI) calculator into this market. While there, hurricanes hit in Texas and Florida and it was heartbreaking to me to read that people were not fully insured for such events which are not a case of: ‘if it happens’, but rather: ‘when it […]

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Profiting at other people’s expense

The Courier Mail reported on builders massively overcharging victims of Cyclone Debbie and the floods that followed further south. Click here for the article. This sadly occurs after every natural disaster to some extent and while some as the Insurance Council of Australia state is due to demand surge, some clearly is a giant rip off. Every trained loss adjuster and claims preparer will be carefully […]

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Recap of week one.

LMI activated its Emergency Response plan on Thursday 30 March starting first in Mackay, Proserpine, Bowen and surrounds and as we were able to gain access, extended this into the Whitsundays. Other teams looked after claims in South East Queensland, Murwillumbah and Lismore. Within this first 10 days, we have arranged for progress payments for close to $40 millions to be made to assist business recovery. This […]

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