Books glorious books – LMI Library continues to grow

Books glorious books – LMI Library continues to grow

The LMI Library continues to grow through 3 methods. Purchases we make when we see a newly published book on an insurance or risk management topic; Books that I or the team at LMI publish; and The very generous donations by those in the insurance industry who are looking for a good home for their own collection/library. Over the past week we received two wonderful […]

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Blog question – ISR Mark IV or Mark V, which is better?

Blog question – ISR Mark IV or Mark V, which is better?

I received this question which is not that easy to answer. On more than one occasion I have come up against a competing broker who states to clients that Mark V is better than the Mark IV therefore even if the Mark IV terms are more competitive the client has been so bamboozled they believe it. What is your view, is the Mark V better […]

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Addressing the lack of understanding about Compulsory Third Party (‘CTP’) insurance often referred to as Green Slip insurance

Addressing the lack of understanding about Compulsory Third Party (‘CTP’) insurance often referred to as Green Slip insurance

Steve Manning, an old friend Mike Quinlan and I are concerned at the many reports that have come out recently about the lack of understanding about CTP insurance. With this in mind, Mike is preparing a guest post and Steve is preparing a short video on the topic for his Insurance Bites YouTube Channel. I will let everyone know as soon as they are up […]

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Are Interest Costs claimable as an Increased or Additional Increased Cost of Working?

Are Interest Costs claimable as an Increased or Additional Increased Cost of Working?

This is a question often put to me as some loss adjusters and insurers push back when it is claimed. If I start with the actual wording from the Australian Industrial Special Risks policy which is found in many other policies, it reads: “The Insurance under this Item is limited to Loss of Gross Profit due to: (a) Reduction in Turnover; and (b) Increase in […]

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Guest Post: Steven Manning – Another New General Insurance Product Class introduced on LMI RiskCoach

Guest Post: Steven Manning – Another New General Insurance Product Class introduced on LMI RiskCoach

Only a week after the launch of Corporate travel the team are back at it again, be it in the background for months, on the launch of yet another class of insurance, Product Recall and Product Contamination insurance. With the addition of these new classes onto the system, users can now research 14 classes of General Insurance through their LMI RiskCoach Subscriptions. The reasoning behind […]

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Meth Labs pose an additional risk for Property Owners and Real Estate Agents

A staggering number of rented properties in Australia and New Zealand are being used for┬áthe illegal manufacture of the drug Methamphetamine turning the home into a clandestine Meth Lab. The question then arises what steps are reasonable for a property owner and or their real estate agents to ensure the property is free from any contaminate left by such an operation. Some matters It is […]

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Self driving cars ARE the future.

As has been reported in the news today, Uber has suspended its self driving car testing after a pedestrian was hit and killed in the state of Arizona, United States. I said in a 2016 blog and I still maintain that, there is no doubt there will be accidents and deaths as the technology is developed, but there is already clear evidence that self driving […]

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RISK AND THE INSURANCE BUSINESS IN HISTORY, SEVILLE 2019

As many of you know, I thoroughly enjoy researching the history of general insurance and the conference in 2019 in Seville, Spain is of great interest to me. Professor Robin Pearson, who was a key note speaker at the Bengkulu conference to celebrate the 250th Anniversary of the Principle of Utmost Good Faith, is a co-host of the upcoming conference to be held at the […]

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When does the Indemnity Period end?

At LMI Group, we have an issue which comes across, almost in waves, in regards to a number of claims which needs to be addressed before the next flavour of the month adjustment to reduce an Insured’s claim. The one we have just overcome is where the adjuster has made a “notion” adjustment, without explaining the basis for it. Now, we have come across on […]

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SCAM WARNING

I recently received an email warning about a new credit card scam. Read below so you don’t get stung.   The following is a recounting of the incident from the victim: Wednesday a week ago, I had a phone call from someone saying that he was from some outfit called: “Express Couriers,”(The name could be any courier company) He asked if I was going to […]

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