Blog question on goods in physical and legal control

Blog question on goods in physical and legal control

I received this question this morning. Good morning Allan, I hope you can assist. Having trouble deciphering the Property in your Care custody and Control wording in the [insurer name withheld] Trade Wording I have attached the Liability section and the property in control wording. Our client are concreters and will be hiring some lighting equipment valued at $14,000 as they will be working at […]

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Introducing LMI RiskCoach 2.0

Introducing LMI RiskCoach 2.0

LMI are extremely pleased to be celebrating 10 years of RiskCoach, in this our 20th year of operation. It is interesting to reflect how this very popular service for brokers and underwriters came into existence. After taking a year to research and write the Understanding the ISR 3 volume book series I worked on developing a service, PolicyCoach, to allow brokers to build a quality […]

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Blog Question – Advanced Loss of Profits

Blog Question – Advanced Loss of Profits

I received a question from a reader seeking some information around Advanced Loss of Profits cover for a construction project, I share my answer to the reader below with you all too. Advance loss of profit (“ALOP”) insurance provides coverage for financial losses due to delays in construction and infrastructure projects caused by an insured peril(s). ALOP also called delayed completion coverage or delay in […]

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MFB also charging for fire extinguishment

MFB also charging for fire extinguishment

In January 2019, a fire occurred at a premises in Cambellfield that recycled a number of items and among this lithium batteries. In this case, the Melbourne Fire Brigade rang the landlord seeking a guarantee that they would meet the cost of excavators needed to assist in the extinguishing of the fire. As I understand it, the tenant also received a call, as did the […]

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Back to basics – is lightning covered under the peril of storm and tempest?

Back to basics – is lightning covered under the peril of storm and tempest?

I post this article in response to a question put to me by an insurance broker whose client was hit with a higher deductible that applies to storm and tempest for a claim arising from a lightning strike. Well maybe, maybe not. Let us turn to a review of the history of fire and perils insurance coverage for the answer. On the one hand, I […]

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Sharing the knowledge – 2018 Vero Commercial Fire Data Base

Sharing the knowledge – 2018 Vero Commercial Fire Data Base

One of the basic philosophies of LMI Group is to share the knowledge we gain from the many claims we are involved in for the benefit of the insurance industry, business and the wider communities. Of course, there are others within the insurance industry that share this approach and we praise them for their efforts. Adam Matteson from Vero shared with me the Commercial Fire […]

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7th Asia Insurance Brokers’ Summit

7th Asia Insurance Brokers’ Summit

I am pleased to be speaking next week at the 7th Asia Insurance Broker’s Summit alongside some of the most dedicate insurance broking professionals in Australasia. The conference is being held in Jakarta, Indonesia on the 5-6th March. I share the conference agenda/brochure below for anyone who may be interested: It is close but it not too late to get along, register: http://www.asiainsurancereview.com/Events/Register/Asia/airbrokers2019

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LMI’s 20 years of service – what has it meant to you?

LMI’s 20 years of service – what has it meant to you?

This coming Monday, we celebrate 20 years of service to the insurance and wider communities. I would ask that if you have or are using one of our services, have benefited from one of our innovations that you share you your thoughts, experience etc as to what this has meant for you. While I will share any good news with the team as we gather […]

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Blog Question on Non-conforming cladding

Blog Question on Non-conforming cladding

I received the following question from an old friend who I first met while handling a complex claim for his company in 1984. I rang yesterday looking for advice or some information from LMI on the building cladding issue and if the commercial insurance underwriting industry are already or are considering paying claims out for “damage or loss” to the buildings. I wonder if its […]

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Conference Reminder: Risk and the Business Insurance in History

Conference Reminder: Risk and the Business Insurance in History

With this year rushing to an end so quickly, I thought that I would remind everyone of the great conference being held next year in Seville, Spain from the 11th to the 14th June, 2019 on the History of Insurance as a Business. The conference has been many years in the making and experts from around the world will be presenting on the topic. The […]

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