The grim list of fires in recyling

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 […]

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Are some insurers setting small business up to fail?

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. […]

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Climate Change – When will we start to believe?

Climate Change – When will we start to believe?

We saw earlier this year bush fires well before the start of the typical season and Queensland is currently suffering from over 100 reported bush fires. California has just come out of their worst ever wild fire season. It was therefore no surprise that Climate Change was one of the two topics addressed by the Insurance Council of Australia at their annual conference in Auckland […]

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Back at the desk

Back at the desk

I have been a bit quiet on the posting front over the past month as I have been travelling in North America for both business and having a much needed break. During the trip Steve Manning and I had several meetings with potential clients for our on line products, met with old colleagues who are interested in representing LMI in North America and attending a […]

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I cannot understand the copycat attacks following the strawberry product tampering

I cannot understand the copycat attacks following the strawberry product tampering

My latest book, co-authored with my daughter Susan, Chicago: Lessons Learned has just gone off to the printers in readiness for the launch in Chicago on the day Susan graduates with her Doctor of Psychology.  One of the 6 case studies that we researched was the Tylenol Murders in 1982 which led to massive changes in packaging to prevent a re-occurrence. While no one was […]

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Can interest on a loan be claimed under a business interruption policy?

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 […]

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Books glorious books – LMI Library continues to grow

Books glorious books – LMI Library continues to grow

The LMI Library continues to grow through 3 methods. Purchases we make when we see a newly published book on an insurance or risk management topic; Books that I or the team at LMI publish; and The very generous donations by those in the insurance industry who are looking for a good home for their own collection/library. Over the past week we received two wonderful […]

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Blog question – Additional Increase in Cost of Working under an ISR

I received this question which I felt was worth sharing. Allan, I have for many years referred to your most excellent publication for guidance relative to BI [Business Interruption] insurance. The guide makes reference to the Industry Mark IV wording and it is in respect of the Mark IV wording that I have an enquiry, where I could not locate any reference to my particular […]

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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 […]

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Profiting at other people’s expense

The Courier Mail reported on builders massively overcharging victims of Cyclone Debbie and the floods that followed further south. Click here for the article. This sadly occurs after every natural disaster to some extent and while some as the Insurance Council of Australia state is due to demand surge, some clearly is a giant rip off. Every trained loss adjuster and claims preparer will be carefully […]

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