A good news story on travel Insurance

A good news story on travel Insurance

I have two posts about travel insurance today. This one is a fun one that highlights the importance of reading the policy that I read from the Stuff site. Ms Donelan Andrews, a high school teacher living in Georgia, US. She purchased a travel policy through a travel insurer I have never heard of, called Tin Leg a subsidiary of Squaremouth. Unlike the vast majority […]

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Great feedback on policy drafting

Great feedback on policy drafting

We at LMI are commissioned to undertake a great many policy drafting assignments with more and more each year. With our background in claims we strive to draft wordings that are clear, precise and provide the level of protection set by the underwriter. This is extremely important when it comes to marketing the product and even more so at the time of a claim.  Further […]

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Blog Question: Concessions Agreement

Blog Question: Concessions Agreement

I received the following question on the Concessions Agreement: Hi Allan, I note the ISR policy still has the “Concessions agreement” clause. Is this still relevant and how does it actually apply in terms of any claim? Regards David [surname and email provided] I replied as follows. The Concessions Agreement was from a different age. It really died, after many decades in the 1990’s. The […]

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Looking for experienced policy drafters

Every part of LMI is growing and we are always on the look out for good people with technical skills in claims, underwriting and risk management. One part of the organisation that continues to grow is our policy drafting area.  We have approached on a great many projects already this year. The experts we are after include those with the skill and experience to draft […]

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Blog Question: new exclusion on professional indemnity policies in respect of non-compliant building materials

I recently received this email: Hi Allan, Further to your posts regarding issues with shoddy building products, unfortunately insurers are now seeking to exclude this risk in a very heavy handed manner. In particular, exclusions to professional indemnity insurance for building surveyors, architects etc that removes all cover irrespective of fault. The below clause for example is extremely onerous & removes all cover even in […]

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LMI Mining attending claims due to Cyclone Debbie

There has been a good deal of news regarding the effect of Cyclone Debbie on the supply of coal to the world. We at LMI have been keeping a close eye on this and assisting many mining clients to calculate their business interruption losses as a result of the damage. What many readers do not know, is that LMI have a specialist mining division that […]

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Blog question: Do you have this endorsement for the Industrial Special Risks Policy

Hi Allan, Was attempting to locate a copy of the following endorsement wording; REPELXB4. Thank you for any assistance possible. Regards Darren [surname and email provided] At LMI, as part of our policy library, we retain a copy of all the Industrial Special Risks (“ISR”) Policy endorsements we know of along with what we refer to as the Coach’s Comments which is our thoughts on […]

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Blog Question: Schedule v Certificate of Currency v Certificate of Insurance

I received the following question from someone new to general insurance. Allan Certificate of insurance Certificate of currency Schedule What is the effective difference (if any) between these terms? Regards Oliver [surname and email provided] Hi Oliver, I could write a book on all that is going through my mind in preparing to reply to your question.

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Blog Question to better understand co-insurance under an Industrial Special Risks Policy

Hi Allan, Thank you for your very informative article below: http://www.allanmanning.com/accidental-damage-v-specified-damage-v-unspecified-damage/ I am regularly asked about the Asset Schedule by my team members “First a test for under insurance. Under a standard Mark IV or Mark V ISR property claims are tested with  85% co-insurance. whereas business interruption is tested with 100% average or co-insurance.” If the insurer is immediately looking at the Asset Schedule […]

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Insuring Trusts

Following on this week’s theme for the blog of who to name on the policy, I focus today on trusts. I do this before I tackle liability and financial lines policies where trusts are common place.  The important issue to remember is that a trust is not a separate legal entity, it is a relationship where the trustee is under a legal obligation to administer trust […]

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