Risk Management

Managing Risks of Storms

Are you ready to face another season of storms and cyclones?

With reports that Weather related events will be even more intense  in the future, us Risk Takers need to adapt and prepare so that the impact is reduced and our family and community is protected.

Insurance is fine when it comes to compensating you financially, but there are a lot of unpaid hours in preparing, submitting and following up on claims. There are many Flood victims who did not use an Insurance Broker still battling insurers to pay claims here in Queensland. Further, if the cost of a Claim is reduced by better prevention methods, then there is less of a need for Insurers to increase premiums.

Prevention is better than cure. Click here for a web site with useful tips. 

Most of this is common sense. There is also the forgotten issue of legal liability, that is the duty of care you owe to your neighbours. I have seen plastic chairs fly off balconies of multi-storey apartment blocks, branches damaging neighbouring properties and water damage from neighbour's blocked drains or poorly designed run-off areas.

We all have a duty to not just ourselves, but also our neighbours. So be Storm ready this season.

Cyclone Tracking Map

Cyclone Evan hits Fiji

Steamatic article - Storm in a teacup

Drier Conditions expected as La Nina recedes

Fierce Storms in WA June 2012

More fierce storms in WA November 2012

Tornados rip through Poland

After the Storm - Vero

Typhoon Vicente hits Hong Kong

Hurricane Sandy's trail of destruction

Sandy reminds Australians to prepare for Storm Season

Phillippines Typhoon Yolanda (Haiyan) terror

Latest News

Illegal or unsuitable cladding now a big issue

Why we have laws, regulations and Australian standards? Because some people just do the wrong thing all for the sake of making money. The cladding issue is the subject of 4 Corners program on the ABC.

We are already seeing Insurance policies now placing exclusion endorsements into their policies excluding and claims relating to illegal cladding. We are seeing Governments demanding Audits of all existing buildings above a certain height. There are accusations of Builders taking other short cuts such as on Wiring, Pipes and sprinkler systems. 

The question is, who is to blame? Who will take responsibility?

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Small business in NSW

Right after the NSW Government have reimposed Fire Service Levies, they have at least made an effort for small business. The government has announced it will abolish stamp duty on a number of policies taken out by a small business. This is an important change.

What is a small business? In order to gain the exemptions, the business must be a small business for Capital Gains Tax Purposes for the income year in which the insurance is effected or renewed. A small business for CGT purposes is: “an individual, partnership, company or trust that is carrying on a business, and has an aggregated turnover of less than $2 million.”

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