Last night was the 10th Mansfield Awards for Claims Excellence held at the Establishment Ballroom in Sydney. The not for profit event in support of the Amal Mulia Orphanage for children with special needs was sponsored by Envest, Johns Lyng Group, Munich RE, Ignite Fire Investigations and LMI Group. The night was dedicated to two exceptional professionals that sadly left us this year, Tim Wedlock […]
The risk of being uninsured – a case study
Recently I was at a conference and at the final dinner was sitting next to a young lady who relayed an event in her life where she paid a huge price for thinking she could save some money by not insuring her car while she was enjoying a overseas holiday. Her logic was the car would be parked off the street in her family’s driveway […]
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 […]
Question on Co-Insurance after a total loss
I received the following question from a broker earlier this week. It is a question that I am asked from time to time so I thought I would share my answer with you. Hello Allan, Hope this message finds you well. A quick question if you don’t mind, please. Under an industry ISR Mark IV wording, would the co-insurance/average clause apply in the event of […]
Great to see the government is cracking down on dodgy claims operators
I read with interest in InsuranceNEWS.com.au that the government is cracking down on dodgy claims operators, with the article singling out credit hire and accident management companies. I have posted about their practices in the past for years now and have helped quite a few people who have been targeted by such firms including one of our staff here at LMI Group. Hopefully this is […]
LMI turns 27 today
In a fast-paced world, it’s vital to pause and celebrate the milestones that define us. Today, LMI Group marks its 27th anniversary, tracing our journey back to February 25, 1999. My deepest thanks go to the entire LMI team. Your dedication to supporting our clients and your tireless work in building the trusted brand we are today have made this achievement possible. I also thank […]
Looking for a solution to the mould problem
We at LMI have been working with Endangered Heritage to reduce the cost of mould claims to the general insurance industry and equally important to reduce the risk of occupational health and safety issues that can and do arise. Endangered Heritage is currently running a survey on the subject. It only takes 2 minutes. It will not lead to any marketing campaign or you being […]
Claims as a Financial Service
Just a reminder that coming up to 3 years ago, (as from 1 January 2022) anyone providing claims services which includes claims preparation, third party administration of claims, and claims management services has been required under the Corporations Act (2010) Cth to hold an Australian Financial Services Licence. The regulations are designed to achieve a higher level of claim service and in particular hold licensees […]
LMI Claims are hiring
LMI continues to grow in claims work and as a result both LMI Group and Aequum Adjusters are looking to hire loss adjusters and or claims preparers in virtually every state and territory in Australia and New Zealand. The positions range from trainee, to highly experienced. If you are interested or know of someone who may be, please send in a CV on my email […]