As I arrived home last Friday, the lyrics of the song ‘some days are diamond and some days are stone’ came to mind. This one was one of the stones, I was really worrying about where our industry was going. I felt that one Insured was being terribly treated and unfairly punished caught up in a Catch 22 situation that was impossible to resolve. It […]
Can interest on a loan be claimed under a business interruption policy?
One issue keeps coming up more regularly internally here at LMI than any other and that is loss adjusters refusing outright to consider additional interest being claimed as an Increase or Additional Increase in Cost of Working. I cannot understand why this is an issue as I know of hundreds if not thousands of cases where it has been paid. Yet what is happening is […]
Thanks InsuranceNEWs and all those that wrote
Just a quick post to thank Terry McMullan and the team from InsuranceNEWS for picking up on my blog post on Monday about the effect that the Australian Government’s decision to remove Insurance Loss Adjusting from the Skilled Migration Program will have on our industry. A number of people saw either the InsuranceNEWS article or my blog post and have written in expressing their concern. […]
Loss Adjusters removed from Skilled Migration Program – Please help change the Government’s mind
Following political pressure about the number of home invasions and other crimes being committed by immigrants and the routing of the visa system by far too many, the Australian Government have done away with the 457 Visas, and as part of this have removed insurance loss adjusting as an occupation/profession that is able to come into Australia. From what I gather, this is not for […]
Business Continuity Awareness Week 14 – 18 May
As part of my doctoral research into how small and medium enterprises can, with the assistance of the insurance industry, better manage a crisis, I came to appreciate the benefits of business continuity plans. They not only are of great benefit at the time of a critical event, in that they allow an organisation to manage the crisis better and therefore recover quicker, they also have a […]
Staying Safe
The LMI Melbourne office was originally built as a small factory and then utilised as a warehouse and later partially converted to offices before it was acquired by LMI as its Melbourne base. Over the years, the building has been slowly refurbished, including the removal of all asbestos and being in the risk and insurance business, we have been careful to always comply with the […]
Baby Wipes: not so flushable!
Back on 25 July last year I posted an article about sewers being blocked as a result of baby wipes being flushed down the toilet. I would like to think someone of authority reads my blogs and actions results, in any event I read with interest that the maker of White King “flushable” wet wipes, Pental Limited (“Pental”), has been fined $700,000 for making false and misleading […]
Protection for unoccupied buildings
One of the problems we see regularly at LMI is the theft of metals from unoccupied buildings. There is also the issue of squatters, adventurous children and youths, malicious damage and graffiti. When the premises are unoccupied the electricity is often cut off which means that there is no lighting, alarm system or video surveillance happening while static guards and even regular patrols may be […]
Blog Question: Extra Cost of Reinstatement
Hi Allan, I am after some advice concerning older buildings and (non existent) open air hardstand areas. Their land size may be big enough to cater for, but because of the buildings age they do not have designated concreted or sealed car parks. Or their site size may not allow for in the event of a rebuild after a total loss. Understandably building regulations have now […]
The major risks facing business in 2018
Business Interruption, cyber attacks, and natural catastrophes are, not surprisingly to us in the industry, the leading business risks this year, according to more than 1,900 risk experts from 80 countries polled for the latest Allianz Risk Barometer. The survey by Allianz Global Corporate and Specialty reveals that cyber attacks and business interruption remain the leading two risks in Australia. What remains disappointing is that […]