Another question on the ISR – this time the endorsements

Another question on the ISR – this time the endorsements

It is amazing how questions seem to come in a run on the one related topic. I got this one last Friday. Al, I am trying to get some historical narrative on the various endt codes Ie, old Goodlad v newer references v LMI references . If I reference the clauses in the green book, I can see as much as possible you have left […]

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Questions about the origin of the Mark IV ISR

Questions about the origin of the Mark IV ISR

At the request of a long standing friend, Keith Till, then of Zurich Insurance Australia Limited, I wrote what became a 3 volume set of books on the Australian Industrial Special Risks (‘ISR’) Policy. I worked out it took about 1,600 hours of research to write the books drawing on a great many sources including but not limited to David Goodlad’s original drafting manuals and […]

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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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