Upcoming changes in star ratings ClaimsComparison.com

Upcoming changes in star ratings ClaimsComparison.com

Over the past week, LMI’s in-house statistician and I have been going through the relevant data from the regulator and the recent survey. It has been a huge task over many long days. First of all, I want to thank all those that took the time to carry out the survey. We had nearly 3,000 respondents, many rating more than one claims experience. The updated […]

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What is the price for peace of mind?

What is the price for peace of mind?

If we aren’t being bombarded with political advertisements enough at the moment, we certainly are with advertisements selling motor insurance purely on the saving that can allegedly be made. Anyone who handles insurance claims on a day to day basis will tell you that no one remembers what the premium they saved was when a claim occurs. Everyone wants the Rolls Royce cover and service. […]

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When to appoint a claims preparer? The earlier the better

When to appoint a claims preparer? The earlier the better

After handling claims as a claims preparer now for over 20 years full time one bit of advice above all others stands out. That is that the earlier a competent expert is appointed to assist the Insured mitigate their loss and quantify and present their claim, the better. So often, we are only engaged many months after the event, often when the Indemnity Period has […]

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Claims Comparison – Have your say!

Claims Comparison – Have your say!

It is that time of year again where we seek your feedback on the service of Claims Departments across the various insurers and underwriting agencies in the Australian Market. Having just racked up my 48th year in claims, it still comes through loud and clear that at the time of a claim, no one remembers the price. Everyone wants the Rolls Royce cover and service. […]

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Charges on top of charges when it comes to ESL

Charges on top of charges when it comes to ESL

As readers will know I have been quite vocal regarding the New South Wales government’s decision to renege on their commitment to remove the Emergency Service’s Levy from insurance. With the fire services, many of us think that anyone paying the emergency services levy receives the services of the fire brigades for free. This is not the case. If the site contains toxic chemicals or […]

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Have we learned anything in claims from the Royal Commission?

Have we learned anything in claims from the Royal Commission?

The Royal Commission really brought out a few reoccurring themes. One was all about culture, a second about failure to act in good faith and third considering the customer experience. Linked to this are two issues that keeps popping up, and I have written on both before. The first is certainty of contract and the second is treating the insured fairly. Earlier this week I […]

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Where insurance can appear unfair and not in the best interests of the consumer

Where insurance can appear unfair and not in the best interests of the consumer

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 [2019] 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 […]

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Are some insurers setting small business up to fail?

Are some insurers setting small business up to fail?

I have seen some very ordinary insurance policies over the years that, in my opinion, offer inadequate protection to an insured. One of our Sydney team shared a wording with me that he is trying to assist an Insured on. Here is his accurate summary of the issues. =============================================================== First – GST included in sums insured – Hidden away on page 99 out of 108. […]

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Travel Insurance – A discussion brokers need to have with their clients

Travel Insurance – A discussion brokers need to have with their clients

I have been concerned for some time at what appears to be an increasing number of travel claims that have come to me where there was no cover in place, or the cover did not operate as it should. To assist brokers, LMI included Corporate Travel as one of the areas of risk to consider in the RiskCoach and ContinuityCoach products, while we added Corporate […]

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Time to recharge

Time to recharge

I am off on extended leave today and I cannot recall a time in my career where I have never felt in need of a break more than today. There has just been so many disappointments of late where I have taken claims into very senior personnel where clearly the decision to deny is, in my opinion not fair, reasonable, nor sustainable and to avoid […]

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