I received the following question from a broker earlier this week. It is a question that I am asked from time to time so I thought I would share my answer with you. Hello Allan, Hope this message finds you well. A quick question if you don’t mind, please. Under an industry ISR Mark IV wording, would the co-insurance/average clause apply in the event of […]
LMI PolicyComparison.com just got smarter
Before I explain the exciting new feature soon to be available on PolicyComparison.com, I thought I would remind readers of the level of change in general insurance policies in any given month. The following is an update from the team of the updates in the past month alone. PolicyComparison.com August 2025 Update We are excited to bring you the latest updates fromthe PolicyComparison team, highlighting their continued commitment to […]
Is terrorism covered under an Australian home and contents policy?
Last week I posted an article in regard to terrorism coverage under commercial property, and/or business interruption policies. I also touched on commercial liability coverage. At the request of quite a few readers, I now turn my attention to home and contents. In a day or two I will address Strata and after than residential landlord policies, and finally private motor. This timeline may be […]
We are Hiring! Policy Researcher at LMI Group
Do you have an eye for detail and a passion for insurance? Then join our team of Policy Researchers at LMI Group and become the hero behind the scenes! What We Do: LMI Group is a leading provider of technical knowledge to the general insurance industry in Australasia (the world). We empower insurance professionals with online comparison tools and services, and our Policy Researchers play […]
Property of Employees and Members of Clubs under an ISR Policy
The ability to provide protection to an insured for the property of the organisations directors and employees at the situation has been available under the Australian Industrial Special Risks Policy since at least 1987. The importance of the coverage has increased over time as the take up of contents insurance in Australia has fallen in line with the increase in apartment living, while the traditional […]
LMI PolicyComparison.com turns 20!
The upcoming NIBA Conference marks the 20th anniversary of the official launch of LMI’s PolicyComparison.com. The origin of this valuable research site for both brokers and underwriters goes back 23 years to early 2000. Let me explain. LMI Group was given life on the 25th February 1999, primarily handling claims. Within a short time, I noticed that Insured’s were being advised to change Insurer to […]
Faulty Workmanship, defective product claims on the rise.
Allianz Global Corporate & Specialty have recently released their Global Claims Review for 2022. At a high level their findings are: While on an international scale fire/explosion is the greatest cause, water damage losses which include floods, storm and tempest, rainwater as well as bursting, leaking and overflowing of water pipes and apparatus remains the major cause of property losses in Australia. What we are […]
Using the lessons learned from Claims
One of the reasons I have enjoyed a lifetime working in claims is the interesting places you get to visit. It is great if you are a natural ‘sticky beak’ like me. I was speaking with one of my mentors, Murray Rowley who was the senior partner of the loss adjusting practice that I joined in 1982. Murray now heads LMI’s Mining Division and in […]
Apology and preannouncement for the 2021 Mansfield Awards
I want to start by apologising that I have been a bit lax in posting of late but this year has been manic. First up, with the new Unfair Contract Terms we have been working with many organisations, large and small reviewing and where necessary rewriting sections of their policy wordings. We have literally done thousands so far and more are coming in. This of […]
Reflecting on 50 years in General Insurance
50 years ago today, I started my career in insurance by joining the claims department of the General Accident Fire and Life Assurance Corporation. What a great career choice I made as a young teenager. I have been thinking about the massive changes in technology, distribution and wordings much of which has been for the better but at the same time lament the change in […]