News

Making Experts more Accountable for their advice?

News >>

New York didn’t expect a severe storm like Sandy. We can’t rule out the possibility of these catastrophic events happening to our major cities.

Very limited research and development funding is available to come up with innovative methods to prevent loss of life. The extent of damage and how they spread and propagate is difficult to estimate accurately. However if properly supported and funded engineers and scientists, can come up with better predictions of these events.
Despite this, we did hear of the news of six Italian scientists charged for manslaughter and gaoled for six years each for failing to predict the intensity of a 2009 earthquake that killed over 300 people. Allegations were made against the Engineers of Wivenhoe Dam in Queensland. They were forced to defend themselves, although they had mentioned the difficulty of predicting these extreme events. We also do not want our scientists to no longer provide advice to us in the future. We have already seen how many Scientists have been heavily criticised for daring to relate Climate Change to these severe weather events.
Well the global insurance industry does believe it and are concerned that there will be much more frequent and more severe weather related events in the future costing billions. Better to reduce these potential costs with pre-event planning. However, we need all the help we can get and making experts afraid to provide advice is not the way.

But this is why we have Professional Indemnity Insurance, but it does not stop you from being gaoled. Also scientists cannot afford the sums insured they are likely to need if they get their advice wrong.

There needs to be a balance between accountability and needing the help of experts, but gaoling those that make a mistake is plain wrong with such un-predictable natural catastrophes. Otherwise no one will want to advise on such things making the risk even worse.

Last changed: Nov 06 2012 at 9:43 AM

Comments

  1. None Found

Add Comment

Latest News

Robert Cooper - one of 100 faces of small business

This week it was announced as part of Small Business Week,  that Robert has been named one of the 100 faces of small business for a State Government promotion on the great value that small businesses play in the State of Queensland.

You can see Robert's entry here:

It is the third accolade for CPR Insurance Services in a month and after seven and a half years in business is a real pep up for the company.

For Robert, it is the culmination of many years experience, becoming well qualified, experiencing the highs and lows of a career and always wanting to contribute to his community. Sometimes, these things just come together and you receive recognition for your efforts.

Robert says that there is no doubt that starting your own business is a huge challenge, but with the right research and planning, the right people around you and a good set of values that you apply to the vision of the company, you have a very good chance of making it all succeed.

Robert says he is lucky. He has a strong supportive Wife, Mandy, who is also part of the business, along with efficient and hard working staff such as Julia McLauchlan and Aidan Harmer who are building up their own skills in a learning environment. 

However, the most important and most supportive people for CPR Insurance Services are our clients who have stuck by us and supported us over the past seven years. Our focus remains on providing the best possible service we can and always acting in their best interests. To all our clients, we say thank you!

read more

CPR Insurance wins Brokerage of the year

CPR Insurance Services picked up the award for the Best Brokerage (1-5 staff) in Australia, last Friday Night (4th May 2018) at the Insurance Business Magazine Awards held at the Westin in Sydney.

Judging came from various parts of the industry. It is a great honour to be recognised for our hard work and particular Business values we follow. A full list of winners is listed here.

Success comes from having great staff, and we thank Aidan Harmer and Julia McLauchlan as important support staff for helping us win such an award.

CPR Insurance has been in operation for more than 7 years now and is only successful because of the wonderful support from our staff, insurers and most importantly, our fantastic clients who put their faith and trust into our company to be their Risk Advisers and Brokers. 

Thank you to all.

read more