Large gum trees in residential areas pose a threat to life and property

Large gum trees in residential areas pose a threat to life and property

Like most people I am all for protecting the environment and greening our towns and cities but we do need to balance this with the risk to life and property. Today in much of South East Australia strong winds are again forecast. As a child growing up in Brisbane I always thought of August as Kite month. While the weather is great for kites it […]

Read Me

Beware harsh exclusions that turn the policy into junk insurance

Beware harsh exclusions that turn the policy into junk insurance

Over the past few years more and more claims have been brought to my attention where the client cannot believe that their claim has been denied. The cases that I refer to are ones where the claim has been denied for faulty workmanship, faulty design or faulty products/materials and there is no write back provision for subsequent damage to the property from a peril not […]

Read Me

Why insurance will not meet the cost of removing and replacing non-conforming building materials

Why insurance will not meet the cost of removing and replacing non-conforming building materials

The vast majority of insurance policies that insure buildings and or the liability that may arise from owning or occupying one, contain a number of standard exclusions found across the entire market that specifically exclude claims arising from faulty workmanship, faulty materials and or faulty design. These policies include but are not limited to residential home, residential and commercial strata, contract works, industrial special risks […]

Read Me

CCTV as a risk management tool – A case study

CCTV as a risk management tool – A case study

On Monday morning, 15th July, we arrived at work to find that part of our signage had been stolen off the front of our building. It was not only the loss of the sign that frustrated me but as so often happens the cost of repairing the damage, here the wiring to the led lights that back lit the sign would be more than the […]

Read Me

Government help for non-conforming cladding but at what cost

Government help for non-conforming cladding but at what cost

It has been reported today in The Age that the bill to fix hundreds of private buildings around Victoria covered in highly flammable cladding will be in part picked up by the State Government , as announced by Premier Daniel Andrews. The cost to rectify the problem is expected to initially run to $600 million. What the end cost will be is anybody’s guess. While […]

Read Me

Increases in NSW ESL leads to expected drop in insurance protection

Increases in NSW ESL leads to expected drop in insurance protection

It has already started to happen. Over the past week I have been contacted by both insureds and brokers advising that they/their clients have elected to drop business interruption or elect not to fully insure due to the increased financial burden created by the massive increase in Emergency Services Levy. I try and explain the risk that the business is taking on by not insuring […]

Read Me

When to appoint a claims preparer? The earlier the better

When to appoint a claims preparer? The earlier the better

After handling claims as a claims preparer now for over 20 years full time one bit of advice above all others stands out. That is that the earlier a competent expert is appointed to assist the Insured mitigate their loss and quantify and present their claim, the better. So often, we are only engaged many months after the event, often when the Indemnity Period has […]

Read Me

What will it take to make the Emergency Services Levy fair in NSW?

What will it take to make the Emergency Services Levy fair in NSW?

As many readers would appreciate, I have long been an advocate for the removal of emergency services levies on general insurance. Back in June 2012, I reported that the NSW Government was entering into a public discussion on the fairness or otherwise of having those prudent and risk averse to fund the majority of the fire services levy. A White Paper then came out from […]

Read Me

More on engineers’ fees

More on engineers’ fees

Earlier this week I posted an article explaining the coverage afforded by the additional benefit found in most quality property insurance policies, both home and commercial, for architects, engineers, clerk’s of works etc. This morning I received this note from one of the LMI team in New Zealand. I have read your article on professional fees with interest as I had a similar argument with […]

Read Me

Architects, Surveyors’ & Similar Fees – what cover is being provided to an Insured?

Architects, Surveyors’ & Similar Fees – what cover is being provided to an Insured?

This question has been put to me by several of the LMI team who are being advised by loss adjusters that these fees are only in respect of the reinstatement. So, this then leads to the question of when does reinstatement commence and what does it include? Claims where this debate seems to be reoccurring is under the Industrial Special Risks (“ISR”) policy. The answer […]

Read Me