Fusion & Machinery Surveyors Australia’s Post

The insurance protection gap caused by worsening extreme weather is so dire, the top insurer bodies of the Commonwealth countries have banded together to put this issue on the agenda of their respective leaders.

A delegation of senior insurance executives and government officials from Australia will tour the US this week to foster dialogue about insurance challenges related to natural catastrophe (nat cat) risk. The group will explore solutions and exchange ideas on topics including the insurance protection gap and investing in resilience measures. Led by the Insurance Council of Australia and the American Chamber of Commerce in Australia, the delegation includes government officials as well as senior executives from insurers—such as IAG, Youi Insurance, Suncorp Group, Auto & General Australia, QBE Insurance, Allianz, and Hollard Insurance. ICA CEO Andrew Hall commented, "The Australian and North American insurance markets are facing strikingly similar challenges around affordable and available home insurance." “We must learn from each other what initiatives are working and what experiences we can share about future resilience measures that reduce the future risk.” #Insurance #NaturalCatastrophes #ProtectionGap

Not all risks are created equal. While Ted Hamm Insurance offers comprehensive coverage, some events fall outside the scope of insurance. For example, insurance can't protect you from: - Business Challenges: Fluctuations in the market, like a competitor stealing customers or rising ingredient prices, are business realities, not insurable events. - Natural Disasters in High-Risk Areas: Living in a floodplain or earthquake zone may limit your coverage options or even make it difficult to obtain certain types of insurance altogether. - Intentional Acts: If you or someone else intentionally damages property, insurance won't cover the repairs. Let's focus on the risks we can help you manage! Ted Hamm Insurance can provide a wide range of coverage options to protect your business from many unforeseen events. Call us at 805-238-1818 to discuss your specific needs and explore how we can help you achieve peace of mind. #TedHamm #TedHammInsurance #California

Curious about Farm Insurance in Adelaide? Wondering how to protect your livelihood from unexpected risks? Dive into our latest blog for expert insights and essential tips! 👉Learn more here: https://lnkd.in/dDai8Brz Ensure your peace of mind with Westphalian Insurance Brokers! Give us a call: 08 8232 3118 _______________________________ #AdelaideFarmInsurance #ProtectYourFarm #InsuranceExpert #farminsuranceadelaide #bestfarminsuranceadelaide #westphalian

Fire insurance is a crucial safeguard for your property, providing essential protection against various risks. This type of insurance ensures that in the event of a fire, you are not left to bear the financial burden alone. It covers damage caused by various incidents related to fire, including those triggered by natural phenomena, accidents, or unforeseen events. Choosing the right fire insurance policy can be overwhelming, but expert guidance can help you ensure you have the best possible protection for your property. Reach out to our experts to explore your options and ensure your peace of mind with comprehensive fire insurance coverage. 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐚𝐧 𝐀𝐩𝐩𝐨𝐢𝐧𝐭𝐦𝐞𝐧𝐭: 𝟗𝟐𝟑𝟎𝟎𝟗𝟎𝟓𝟏𝟎 𝐕𝐢𝐬𝐢𝐭 𝐨𝐮𝐫 𝐰𝐞𝐛𝐬𝐢𝐭𝐞: 𝐰𝐰𝐰.𝐚𝐱𝐢𝐨𝐦.𝐧𝐞𝐭.𝐢𝐧 ADV.NO./AIB/MAY/239 #AxiomInsurance #propertyinsurance #insurancebroker #insurancepolicy #expertadvice #commercialinsurance #insurancecompany #insurancelife #broke #fire #fireinsurance #insuranceclaim

When it comes to navigating tough insurance situations, having a reliable disaster restoration partner makes all the difference. We’re proud to be there for you, and we appreciate your trust in us! 🙌 #ATIrestoration #DisasterRecoveryServices #Testimonial #Insurance

When it comes to navigating tough insurance situations, having a reliable disaster restoration partner makes all the difference. We’re proud to be there for you, and we appreciate your trust in us! 🙌 #ATIrestoration #DisasterRecoveryServices #Testimonial #Insurance

In the first 9 months of 2024, losses covered by the private insurance market or public insurance entities totalled at least $108 billion, 5% higher than the decadal average of $102 billion, driven by a higher frequency of low/mid-size events, especially in parts of the world with higher coverage, a new report from Gallagher Re has revealed.

Via Insurance Bureau of Canada - Recent catastrophic events have underscored the urgent need for action on insurance adjuster reciprocity nationwide. In response, a P&C coalition has issued an open letter to Canada’s primary regulatory bodies – the Canadian Insurance Services Regulatory Organizations (#CISRO) and Canadian Council of Insurance Regulators (#CCIR) urging them to collaborate on establishing a licensing reciprocity regime. This would ensure that an adjuster licensed in one province is recognized across all jurisdictions. Currently, the fragmented licensing approach lacks a solid public policy justification and hampers efficient response to catastrophic events. The coalition includes Insurance Bureau of Canada, the Canadian Association of Mutual Insurance Companies CAMIC / ACCAM, the Canadian Insurance Claims Managers Association (CICMA), the Canadian Independent Adjusters Association (Canada), the Insurance Brokers Association of Canada, the Canadian Association of Direct Relationship Insurers CADRI and the Omnia Adjusters Cooperative. 👉 https://lnkd.in/dJPxw2yh #insuranceadjuster #claimsadjusting #adjusterlicensing #insurance #catastrophicevents #flood #wildfire #hailstorm #windstorms #naturaldisasters #insuranceclaims #resiliency #disasterreadiness #claimsresponse #claimshandling #claimsprofessional

Wind storms are becoming more prevalent and to help keep your home and property safe, today we're sharing some tips from the Insurance Bureau of Canada #safety #insurance https://lnkd.in/eEGRMfmY