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 […]
Employee held liable but find the employer has no insurance or can avoid meeting the cost!
A lot of employees believe that they cannot be held personally responsible if they make a mistake in their work that causes damage or injury to others, as their employer will be liable, and the employer’s insurance will protect them. In the vast majority of cases this is in fact true, but you cannot and should not rely on this. I provide a few examples: […]
Celebrating 24 years of service to the general insurance industry
Tomorrow, the 25th of February 2023 marks the 24th anniversary of the start of the LMI Group. During that time we have assisted thousands of claimants with their claims, and introduced world leading online services that take the lessons learned from claims, and use them to assist brokers and underwriters be better at their job, and to move the emphasis from price to protection. These […]
Unfair Contract Terms Legislation receives Royal Assent
The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 became law on November 10, 2022. The Act reflects a key election promise of the Albanese Government to make unfair contract terms illegal and increase the maximum penalties for a breach of competition and consumer laws. What do these changes mean? With this legislation becoming law, the maximum penalties applicable to certain breaches of the Competition and […]
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 […]
Just how is insurance caught up in trade sanctions against Russia
Insurance really is a global industry and has many times been described as the oxygen in the lungs of the economy. With any insurance policy on commercial risks written out of the United Kingdom (UK) or the European Union there is a sanctions clause. In fact this appears in most if not all commercial contracts. The Financial Conduct Authority (FCA) in the UK issued the […]
Beware text messages with links
The Government and Telstra have both reported on the significant increase in spam text messages with links for the unwary to click. Today I had two and both were clearly spam. They said they were voice messages and I had not received any missed calls. On close examination the sender could not even spell ‘message’. I have been deleting such messages for a while but […]
Survey for 2021 Mansfield Awards for Claims Excellence now open
As indicated in last week’s post, the survey for the 2021 Mansfield Awards for Claims Excellence opens today and will run for 4 weeks until midday (AEST) on 8 June 2021. Insurers and their claims staff place high value in the results and comments provided by insured’s, insurance brokers, loss adjusters and others associated with general insurance. The survey literally only takes a minute or […]
Product Recalls Australia – from 11th – 15th January, 2021
From the ACCC: Isuzu Australia Limited — Tradepack NLR, NNR and NPR Series Trucks MY2005-2019 El Cielo — White Corn Tortillas Light Flavour 14cm 260g Polaris Sales Australia Pty Ltd — RZR PRO XP & XP4 MY2020-2021, RZR Turbo S & S4 RZR and XP Turbo & Turbo 4 MY2021 Side by Side Vehicles Alphapharm Pty Ltd — Tenofovir Disoproxil Emtricitabine Mylan 300/200 Tablets AMH […]