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 […]
Question on Co-Insurance after a total loss
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 […]
The lastest from PolicyComparison.com (February 2026 edition)
It never ceases to amaze me just how many policies change in any one month. February 2026 was no different. The PolicyComparison team has some new and exciting updates to share with you this month! 58 Policies Received (45 for Policy library) 224 Policy / Section Changes 57 New Wordings/Sections to LMI Policy Comparison. NEW INSURER / POLICY WORDINGS/SECTIONS: Three (3) Liability – CGUA, Protecsure Nineteen (19) Commercial […]
Novemebr 2025 – PCI PolicyComparison Report
The PolicyComparison team have been busy this month, continuing to demonstrate their dedication to maintaining policy accuracy and alignment with the latest standards. Take a look at what’s new below! Quick overview NEW INSURER / POLICY WORDINGS POLICY COMPARISON TEAM HAVE FOUND THE FOLLOWING RECENT CHANGES Caravan/TrailerAlteration to Related Benefits – Youi Pty LtdAlteration to various Basis of Settlement – Youi Pty LtdAlteration to various Exclusions – Youi Pty […]
OCTOBER 2025 – PCI PolicyComparison Report
The PolicyComparison team have been busy this month, continuing to demonstrate their dedication to maintaining policy accuracy and alignment with the latest standards. Take a look at what’s new below! Quick overview NEW INSURER / POLICY WORDINGS POLICY COMPARISON TEAM HAVE FOUND THE FOLLOWING RECENT CHANGES Caravan Commercial Motor Commercial Packs Contract Works Corporate Travel Crop Policies Cyber Directors and Officers, Professional Indemnity and Management Liability Engineering Home Insurance […]
ISR question on whether the test for Co-Insurance is done against the Limit of Liability.
Good morning Allan Thank you for your time just now. The insurer is saying we need to increase our Limit of Liability or co-insurance may apply. Which from reading their wording we do not believe the Limit of Liability is a factor. Their solution, they want us to split the risk into 2 locations and revise our Limit of Liability. Could you please review and […]
Should an insurer refund the unused portion of my insurance if my vehicle is written off and I am paid out in full?
The above question was asked of me by an insured who had only renewed their motor vehicle insurance policy 2 weeks before their car was severely damaged while parked. The insurer agreed to write off the vehicle and offered a payment that the Insured feels is fair and reasonable. It was annoying to the insured that they had only paid their insurance 2 weeks before […]
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 […]
Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.
I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% […]
Does my Landlords Insurance Policy cover terrorism
This is the fourth post in a series that looks at the coverage afforded by various types of insurance products. The series was prompted by a large number of requests for clarification following the senseless attacks that are going on predominately in Melbourne and Sydney. These attacks would appear to fall within the definition of terrorism as set out in legislation. Today we look at […]