Blog question – Possible time gap in coverage when changing insurers

Blog question – Possible time gap in coverage when changing insurers

One of the questions I received yesterday read: “I seem to recall a case where a customer switched insurers, neither insurer’s policy specified a start or expiry time, only a date.  A incident causing rise to a claim occurred on that specific date and both Insurer’s were passing responsibility to the other. What I can’t recall is the outcome, which insurer was ultimately responsible and […]

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Compulsory Third Party Insurance Explained

Compulsory Third Party Insurance Explained

When the statistics came out showing just how few people understood Compulsory Third Party Insurance, it created quite a discussion with several of my longest standing friends. Within LMI, there are a number of our staff who have been involved in motor vehicle accidents where the third party had no insurance at all. The worst was an overseas student, who had borrowed a friend’s car, […]

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Which small businesses have mandatory data breach reporting obligations? + 1st Quarter statistics

Which small businesses have mandatory data breach reporting obligations? + 1st Quarter statistics

Another topic I have written a lot on is the Federal Government’s mandatory reporting regime. I have been asked many times to explain the obligations on small business and so I outline them below. After that I provide some stats at a high level on the first quarter reporting. From 22 February 2018, the Notifiable Data Breaches scheme (“NDB scheme”) requires a wide range of […]

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Different landlord – similar issue

Different landlord – similar issue

This is another issue that I have posted warnings on several times over the past few months. It was reported recently that a Perth landlord was hit with a huge power bill after tenants ran a cannabis grow-house from his property. The power bill was a whopping $85,000. The report suggested crime gangs are most likely to target private landlords and will often provide a large upfront […]

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Changes to the New Zealand Residential Tenancies Act and to PolicyComparison in Australia on methamphetamines.

The Residential Tenancies Amendment Bill (No 2) has just passed the Select Committee stage of the New Zealand legislative process. The Bill will change the Residential Tenancies Act (1986) in ways that will affect general insurers in the following areas: clarifying the state of the law regarding tenants’ responsibility for careless damage to property, including insurers’ rights of recovery; requiring landlords to disclose information about their […]

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NSW introduces new laws to curb the serious issue of distracted drivers

I have posted several articles over the past few years on the very serious issue of people texting and generally being distracted by their mobile devices while driving. One post covered the terrible case where in February this year, a 22-year-old man, who allegedly took his eyes off the road for up to 20 seconds to use his phone, seriously injured two policemen setting up a […]

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Yet another recall: this one should not be ignored!

It is estimated that around 80,700 pool fence latches sold through Bunnings Warehouse stores across Australia have had to be recalled. This is following an investigation which found that they do not comply with the required Australian Safety Standard. With young lives at risk, this is clearly a very serious safety issue, and so I join the request that any and all owners and residents of properties with pools […]

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Surely company’s know that the truth will come out

Yesterday I was delivering training sessions with one of the topics covered, Product Recall Insurance. Besides explaining the obvious need for this cover I went through the risk of a company not doing the right thing and quoted the forced recall of vehicles fitted with faulty Takata airbags (refer my post of February 28) and the brand damage it does to those car manufacturers that […]

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Take care on reducing coverages

As the team at PolicyComparison.com go through new policies and update, they bring to my attention any changes that gives them concern. What is being noticed is, at the same time rates are increasing in many classes of general insurance,  some new and/or broader in their effect exclusions are being introduced and that these could easily be missed. One such change has been the introduction […]

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Has ClaimsComparison.com failed?

August 2013 saw the launch of LMI ClaimsComparison.com which provides a star rating of insurers claims service across over 20 classes of general insurance. This led on to the Mansfield Awards for Claims Excellence which were launched last year. The Mansfield Awards being a joint venture not for profit initiative of LMI Group and InsuranceNEWS. There were three reasons for the development of the free to […]

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