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 […]
High Court Decision not to allow appeal on Quarantine Exclusion only the first hurdle for Insureds.
As I predicted way back on 7 February 2020, the High Court refused insurers leave to appeal the decision of the lower courts that held that insurers are not able to rely on an exclusion that refers to the Quarantine Act 1908 when this act was repealed and replaced by the Biosecurity Act 2015. This however, is the first of a number of issues that […]
What happens when there is a delay in repairs, due to COVID-19, that affects an existing insured business interruption
Saga [surname withheld], asks the following question that stems from a post I made explaining how business interruption insurance works, when the period of disruption overlaps with disruption due to COVID-19: Hi Allan, This is Saga. I have a query here related to the hypothetical situation cited. During the period of closure due to COVID 19 i.e. from 1st February to 31st May, we will […]
New Zealand Court Decision on Multiple Damage to Building Finally Handed Down
The Supreme Court of New Zealand, the highest court in that country, brought down an important decision last week (27 August 2014) where there have been multiple earthquake claims. The history of the case is that the Supreme Court allowed an appeal by Ridgecrest, a company which owned a building formerly at 215 Gloucester St, Christchurch. The Court ruled that Ridgecrest’s policy underwritten by IAG, provided coverage for each earthquake event […]
Tips in Preparing a Expert Report for the Court
I prepare anywhere between 1 and 4 expert reports on insurance matters each month. Typically, my work involves an issue of policy interpretation, availability of coverage or calculation of the loss (quantum). A number of people have contacted me of late to ask advice, as they are being asked to prepare a report for the first time. From the large number of barristers and lawyers […]
Condition Reports and Valuations on Stamps and Coins
Having an arsenal of experts that you can trust is one of the most important assets to have as an underwriter, broker or claims expert. Recently, I was asked to provide a reference to a stamp and coin dealer that I have relied on for around 40 years. Les Sheward of Eljay Stamps and Coins has been of great help to me in pre and […]
The General Insurance Ombudsman expresses concern that workers in the industry do not always understand the policies they sell. LMI has the tool to help.
This is the headline from ABC News on the 23rd February 2012. To read the entire article please go to http://www.abc.net.au/news/2012-02-23/insurance-ombudsman-urges-staff-training/3847102. In a nutshell Ombudsman John Price told AM there must be a greater focus on training and communication in the industry to ensure frontline staff provide customers with clear information. Policies do not clearly inform individuals, and it’s not only the consumer that’s confused […]
Please help me out here!
I am involved in examining a house fire where the owners had elected not to renew their home insurance and sadly the home was destroyed in a fire 6 months later. They are looking at every possible way to look at anyone who may have been in the smallest way responsible, not looking at the person themselves but simply looking as to whether they had […]
UNSW Global – Consulting and Expert Opinion Services (CEOS)
I have been invited to be registerd in the directory of University of New South Wales Global Consulting and Expert Opinion Services (CEOS) I have accepted the invitation and completed all the formalities today.