Happy to see some relief for Insurance Taxes in NSW (unless there is yet another back flip)

New South Wales Treasurer Dominic Perrottet says the state’s 2017 budget will relieve cost pressures for 600,000 small businesses in the region through the reduction of red tape, including by axing insurance duty on a range of policies for businesses with annual turnover of $2 million or less. As an aside, I am convinced governments want businesses to stay small for as soon as you […]

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Is it any wonder the public has lost faith in politicians? NSW ESL what a mess!

No news article has caused my phone or email to run to hot as the one announcing the New South Wales back flip on the removal of the State’s Emergency Services Levy earlier this week. Let us review the facts. The New South Wales government are the last mainland state in Australia to remove the levy. They did not have to reinvent the wheel, all […]

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Finally something a government has done that actually makes sense!

It was really great to read that the Victorian Government has removed stamp duty from insurance on farm policies. Well done! This on top of the removal of Fire Services Levy is a great initiative and makes the vital protection provided by insurance affordable by a segment of our economy who can least afford not to have it. Now if only other governments would show […]

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Blog question: Do you have this endorsement for the Industrial Special Risks Policy

Hi Allan, Was attempting to locate a copy of the following endorsement wording; REPELXB4. Thank you for any assistance possible. Regards Darren [surname and email provided] At LMI, as part of our policy library, we retain a copy of all the Industrial Special Risks (“ISR”) Policy endorsements we know of along with what we refer to as the Coach’s Comments which is our thoughts on […]

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New look to celebrate 5 years of blogging

This month sees the 5th anniversary of this blog with now over 850 articles published. I would like to thank all the readers and particularly those that share the articles and/or pose questions and comments. It remains a privilege to share my thoughts, research and knowledge with such a wide and diverse audience. Two things stand out. First is just how much I have learned […]

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Blog Question on Fire Service Levy increase

I received this question from an insured who is concerned about the Fire Services Levy, to be correct the Emergency Services Levy. I have withheld the name of the insurer as is my normal practice. ———————————- I received my home and contents insurance renewal for a policy dated 7/11/16. The Financial Services Levy (“FSL”)  included was $181.85 (estimated by [my insurer]). Along with a letter […]

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Leave insurance to private enterprise

I read with disbelief that Mr Gerry Brownlee, the Minister for the Earthquake Commission, claims that New Zealand’s national natural disaster insurance scheme has been a huge success and recommends that Australia follow suit. I for one could not disagree more. The fact that so many claims are still not settled and the recent negotiated settlement which confirmed that many claims that had been settled had been done on the wrong […]

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Fire Service Levy in NSW finally to be scrapped

It was a great Christmas present to hear that the NSW government have, after many years of talking about it, finally agreed to remove fire service and SES levy’s on insurance. This will greatly improve the affordability of insurance for both home and business owners in property, construction and the all-important business interruption. The only disappointing thing is that we have to wait another 18 […]

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A stitch in time can save nine – regular maintenance checks a must

I am over for much of this week in New Zealand delivering a round of master classes on property insurance. Yesterday, I was in Wellington staying at one of my favourite hotels, but as I was delivering the lecture, I kept being distracted by a partition wall out on the balcony which was moving far more than it ought in the famous Wellington wind. At the […]

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A short Interview on Terrorism Insurance

One of the topics that generates the most questions to me has over the past 6 months with many radio and press interviews has been around the terrorism event in Sydney and how policies respond, and the trigger for coverage. Business Strategist, Michael Harrison, interviewed me recently on the topic which he himself was keen to understand. Here is the result: https://www.youtube.com/watch?v=x4PwU8BhbZU

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