Today marks LMI Group’s quarter century of service to the insurance industry and wider communities. What better way to reflect on all that our dedicated team have accomplished but list 50 highlights from our first 25 years that you may not know (or have forgotten) the Group. As an aside, I tried to narrow this down to 25 for 25 but I was over this […]
Business and individuals need help from government to reduce cyber risk
Cyber attacks have been the leading story in Australia for the past few weeks with the breaches at Medibank Private and Optus being two of the most high profile cases. It is reported in Business News America that three-quarters of businesses in the UK and the US have been hit by a serious cyber attack at least once since 2019, according to the S-RM Cyber […]
Warning on SME home business
Recently you may have seen the article on the ABC News in respect of a home claim being denied by an insurer due to the fact the insured was running a business from their home. In this case, selling eggs. With rising living costs more and more people are looking for a side hustle, or in other cases, a person starts up a new business […]
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 […]
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 […]
A photograph of the most important litigant in history
Anyone who does any legal studies learns of the case of Donoghue v. Stevenson, 1932 UKHL 100. In my research into the case I visited the key locations and did a lot of reading but never found a photograph of Mrs Donoghue. This morning as I was researching something else I stumbled on this photo which claims to be of her. I found it on […]
LMI’s library has a new home
For those of you that have visited our Melbourne office in the past, would have seen that our collection of insurance books had outgrown the large space we had dedicated to our library. In what little spare time I have had since COVID-19 hit, and with the help of Steve, Susan and others, we moved the library into a new purpose-built space in a newly […]
Was the loss of stock caused by flood?
I read the InsuranceNEWS article on AFCA‘s decision on the flood claim involving the loss of frozen foods when the electricity company turned off the power in advance of an expected flood. The following is a run down of my review of the decision, which I have posted in response to a number of people that have contacted me expressing their horror and why I […]
What happens when there is a delay in repairs, due to COVID-19, that affects an existing insured business interruption
Saga [surname withheld], asks the following question that stems from a post I made explaining how business interruption insurance works, when the period of disruption overlaps with disruption due to COVID-19: Hi Allan, This is Saga. I have a query here related to the hypothetical situation cited. During the period of closure due to COVID 19 i.e. from 1st February to 31st May, we will […]
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 […]