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 […]
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 […]
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 […]
Purchasing pleasure craft insurance provides more than the value of the boat.
Today it is being reported in New Zealand that the skipper of a boat that collided with the Russel Ferry has been ordered to pay $132,200 in reparation and consequential loss payments. Besides damaging the ferry, the collision seriously injured the ferry’s skipper while a passenger was thrown overboard. As I understand it, the award does not include any amount for the injuries to those […]
Just 3 weeks to go for the 2023 Mansfield Awards for Claims Excellence
Just a reminder that there is only 3 weeks to go before the 2023 Mansfield Awards, which is now in its 7th year! The awards night will be held at The Establishment Ballroom, located at 252 George St, Sydney. The function starts at 6pm, with the awards portion running for approximately 1 hour, during which 6 awards will be presented. The awards are: You can […]
Just how is insurance caught up in trade sanctions against Russia
Insurance really is a global industry and has many times been described as the oxygen in the lungs of the economy. With any insurance policy on commercial risks written out of the United Kingdom (UK) or the European Union there is a sanctions clause. In fact this appears in most if not all commercial contracts. The Financial Conduct Authority (FCA) in the UK issued the […]
Survey for 2021 Mansfield Awards for Claims Excellence now open
As indicated in last week’s post, the survey for the 2021 Mansfield Awards for Claims Excellence opens today and will run for 4 weeks until midday (AEST) on 8 June 2021. Insurers and their claims staff place high value in the results and comments provided by insured’s, insurance brokers, loss adjusters and others associated with general insurance. The survey literally only takes a minute or […]
Blog milestone and the importance of a good broker
This post marks the 1,200th article on this site with many more topics yet to tackle in our ever changing world of general insurance. One of the topics I have written on, in both my books and this blog, is the importance of a good insurance broker to a business. This was brought home to me this morning when I received an email from our […]
How long can an act of bad faith have repercussions for the Insurer?
I was invited to a get together on insure-tech on Friday which I found extremely interesting. While waiting for proceedings to start I was chatting to the gentlemen next to me, an experienced and well seasoned broker. We were talking about an insurer and I recalled my very first encounter with them. It would have been in the early to mid 1980’s and I was […]
R.M.S Titanic – Launched 106 years ago today
Today is the 106th Anniversary of the launching of the Royal Mail Ship Titanic in Belfast, Ireland. As we all know, the 40,000 tonne ‘unsinkable’ ship struck an iceberg on the 14th April 1912 sinking early the next morning, the 15th April 1912 with a loss of around 1,514 lives. Lloyd’s of London paid out £1,000,000 (modern day equivalent over £107,500,000) within 30 days of the […]