Product Recalls Australia – 29 May 2018

Product Recalls Australia – 29 May 2018

The Takata saga continues…   Mercedes-Benz Australia/Pacific Pty Ltd — Mercedes-Benz MY 2017 “GLC” Passenger Cars Read more Kia Motors Australia — Soul PS Read more Daimler Truck and Bus Australia Pacific Pty Ltd — Mercedes-Benz Actros Trucks Read more Ford Motor Company of Australia Limited — Ford Kuga and Escape Read more Miss Maud — Assorted Bakery Products Read more Ford Motor Company of […]

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When does the Indemnity Period end?

At LMI Group, we have an issue which comes across, almost in waves, in regards to a number of claims which needs to be addressed before the next flavour of the month adjustment to reduce an Insured’s claim. The one we have just overcome is where the adjuster has made a “notion” adjustment, without explaining the basis for it. Now, we have come across on […]

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Alarming Trends – Part 1: Indemnity Periods

Over the past month or so, I have been inundated with questions regarding moving from reinstatement and replacement conditions to indemnity, in reducing Sums Insured and reducing indemnity periods. Over the next couple of days, I will address each of these and I will start today with Indemnity Periods. Back when I first wrote my blue book on Business Interruption insurance in 2001, I was […]

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Travel Insurance – be careful you are not ripped off when you buy

WAtoday.com.au has warned consumers that the airlines are marking up the cost of travel insurance by a significant amount. The article I refer to can be found here. I have written a great many articles on the pitfalls of travel insurance over the years and my advice remains unaltered. This advice is as follows: The cover is important to have regardless of your age. You need […]

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Government Price Comparison – My thoughts

I write as someone who has been handling insurance claims for over 45 years and from that perspective I think the whole idea is flawed. For most of us in the Australian economy, our home is our most important asset, after that comes our motor vehicles. We invest 10’s of thousands of dollars into these assets, often with a home loan or other forms of […]

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5 reasons why landlords should insist their residential tenants have contents insurance

Lately there has been a spate of house fires around Australia where the tenant has been uninsured. Having been doing claims for over 45 years now, I have witnessed countless times the devastating effect that not being insured has on someone. When landlords lease out their commercial premises it is standard practice to at least have the tenant hold public liability insurance. This is a […]

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At last, some good news

Last week I reported on a couple of attacks on LMI Group. One physically with the violent robbery and the second, a cyber attack. While we are in the process of enhancing the video footage of our own robbery and have identified the perpetrators vehicle and are now working towards the number plate, we are pleased to report that the footage we had of a […]

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Lottery Syndicate Winners Coverage

As we take LMI PolicyComparison.com and our eServices internationally we are seeing the different covers available in other jurisdictions. It was only a few weeks ago, that we noticed in just one UK policy a coverage for “Lottery Syndicate Winners”. At the time we thought it something in the insurers marketing department had come up with and that, like shark attacks would be little if […]

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