I received the following question from an old friend who I first met while handling a complex claim for his company in 1984. I rang yesterday looking for advice or some information from LMI on the building cladding issue and if the commercial insurance underwriting industry are already or are considering paying claims out for “damage or loss” to the buildings. I wonder if its […]
Even before we get a chance to stuff up, we are being criticised by the media and politicians. Let’s get real.
I thought, with the long overdue departure of Karl Stefanovic, who so unfairly attacked the industry after the Brisbane floods that I stopped watching the Today Show, that we would be getting more balanced reporting by the media. However, no doubt picking up on the Deputy Premier’s call for banks and insurers to “lift their socks” and show compassion to North Queenslanders’ affected by the […]
Recycling Industry in a positive light
Yesterday I posted the disappointingly long list of fires in the recycling industry. I thought it only fair to highlight some of the great things that are being done with recycled products to reinforce why I do not want to see this important industry disappear from Australia. Already we are seeing roads being sealed with modified asphalt mixed with recycled plastic and glass. The recycling […]
Corollary to the earlier post on denied claim
Further to my post earlier this week about the Corporate Travel insurance claim that was not honoured, I learned from the broker following my post that he has cancelled all the policies he had with that travel insurer including a scheme for a professional body. As the claim was in fact insured by two policies, the amount that this insurer would have had to contribute […]
The grim list of fires in recyling
A long standing friend and supporter of this blog, Adam Matteson of Vero has compiled a list of the fires that have involved the Recycling Industry in 2018. We at LMI have been commissioned to assist Insured’s on a number of these fires, have conducted many risk management audits and I have addressed the Victorian Waste Management Association – but even with all this first […]
Are some insurers setting small business up to fail?
I have seen some very ordinary insurance policies over the years that, in my opinion, offer inadequate protection to an insured. One of our Sydney team shared a wording with me that he is trying to assist an Insured on. Here is his accurate summary of the issues. =============================================================== First – GST included in sums insured – Hidden away on page 99 out of 108. […]
Spotlight on claims – when things go right!
The storms across the east coast of Australia effected many businesses, one being a well known reception centre in Melbourne who had damage to ceilings, carpets and fixtures and fittings. With 2 weddings to be hosted over the weekend it needed a super human effort at a time when their is a massive demand to get things happening and allow the weddings to go on […]
How could the NSW Government get it so wrong on the removal of the Emergency Services Levy (TAX)?
I read the article in insuranceNEWS in which it was reported that the NSW parliamentary Legal Affairs Committee, which held an inquiry to consider the impact of the abandoned reform, “found the NSW Government’s failed implementation of [the reform] was a poor public policy decision, undertaken without adequate understanding of the complexities of the issue or the impacts of the proposed reforms.” What beggars belief is that […]
What will it take to change dangerous behaviour and it happened to us
I was staggered at the number of people filmed driving through flooded roads during the storms this week in NSW. It not only puts the car at risk and the neighbouring property which is hit by the wake from the vehicle, but it puts the driver and passengers in danger and those that go to their rescue. Clearly there needs to be a three pronged […]
Conference Reminder: Risk and the Business Insurance in History
With this year rushing to an end so quickly, I thought that I would remind everyone of the great conference being held next year in Seville, Spain from the 11th to the 14th June, 2019 on the History of Insurance as a Business. The conference has been many years in the making and experts from around the world will be presenting on the topic. The […]