Tackling one risk can create another hidden one.

Tackling one risk can create another hidden one.

When I purchased LMI’s first drone to assist with building damage and risk surveying I was concentrating on reducing the risk of injury or death to our staff. Climbing up on a ladder to view a damaged roof, telecommunications tower, crane boom or the like can be extremely dangerous. It was only about a week later that I woke up in the middle of the […]

Read Me

There are risks with the sharing economy

There are risks with the sharing economy

The latest idea of sharing assets is a sharing app to allow the renting out and or sharing of the family pool. Before you rush off and do this, please check with your insurer or insurance broker to ensure that you have the correct liability coverage in place for this commercial operation. Pools are notoriously dangerous places, and if you add alcohol which may become […]

Read Me

A suggested way to drive better corporate behavior

A suggested way to drive better corporate behavior

With all that has gone on with the Commonwealth Bank in both the insurance space and the banking area, particularly the reported practice with children’s Dollarmite bank accounts, all of which is so far from my and our organisation’s values that I spoke to our board and suggested that we move banks. It was a unanimous agreement that we make the move. As an aside, […]

Read Me

Blog question on goods in physical and legal control

Blog question on goods in physical and legal control

I received this question this morning. Good morning Allan, I hope you can assist. Having trouble deciphering the Property in your Care custody and Control wording in the [insurer name withheld] Trade Wording I have attached the Liability section and the property in control wording. Our client are concreters and will be hiring some lighting equipment valued at $14,000 as they will be working at […]

Read Me

The current situation with the fires in NSW shows the stupidity of imposing emergency services levies on General Insurance

The current situation with the fires in NSW shows the stupidity of imposing emergency services levies on General Insurance

I start by applauding the efforts of the fire fighters in New South Wales and Queensland including one of my brother-in-laws, a volunteer in the NSW Rural Fire Service. Yesterday morning, one of the senior officials from NSW Fire advised that, due to the catastrophic conditions expected today (12 November 2019) it is not going to be possible for the brigade to assist with property […]

Read Me

It seems to be all about taxes in NSW.

It seems to be all about taxes in NSW.

I start with the good news. I applaud the NSW Government for removing the dumping fees on asbestos waste (of up to a quarter of a tonne) in an effort to reduce the level of illegal dumping. LMI have become involved in a number of claims where innocent people have been left with massive clean up costs when they have been the victim of fly […]

Read Me

Nothing new about Phishing emails

Nothing new about Phishing emails

As a follow up to my post yesterday highlighting October as Cyber Security Month, I thought I would share a bit of history. While we may think that Phishing emails, that is sending an email purporting to be from a senior executive to the finance or accounts department in the hope they will be fooled into transferring money, is something new, this is in reality […]

Read Me

Introducing LMI RiskCoach 2.0

Introducing LMI RiskCoach 2.0

LMI are extremely pleased to be celebrating 10 years of RiskCoach, in this our 20th year of operation. It is interesting to reflect how this very popular service for brokers and underwriters came into existence. After taking a year to research and write the Understanding the ISR 3 volume book series I worked on developing a service, PolicyCoach, to allow brokers to build a quality […]

Read Me

Testing & Tagging – worth the effort?

Testing & Tagging – worth the effort?

As part of our risk management strategy and, in particular, as part of our occupational health and safety regime we carry out regular testing and tagging of all the electrical appliances and items in our offices. The regulations differ per state but in Victoria where I am based, the Victorian Occupational Health and Safety Act (2004) states that an employer has a legal obligation to ensure that […]

Read Me

Large gum trees in residential areas pose a threat to life and property

Large gum trees in residential areas pose a threat to life and property

Like most people I am all for protecting the environment and greening our towns and cities but we do need to balance this with the risk to life and property. Today in much of South East Australia strong winds are again forecast. As a child growing up in Brisbane I always thought of August as Kite month. While the weather is great for kites it […]

Read Me