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All Risk Management Services

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24.01.2022 Happy Friday! Here’s hoping you have a lovely long weekend!!

24.01.2022 Did you know, at All Risks Management Services we offer countless varieties of insurance products. These including public liability insurance, cyber insurance, business insurance, and so much more! Check out our website for more information https://www.allriskm.com.au/whar-we-cver

23.01.2022 Welcome to All Risk Management Services. Dedicated to you, the client; we offer quality, affordable insurance cover that will have you feeling confident and secure.

23.01.2022 Insurers Warned Over Autonomous Car Crash http://www.insurancenews.com.au//insurers-warned-over-auto, July 31, 2017 Personal injury insurance, compensation and rehabilitation schemes whose operational models do not reflect the rise in autonomous vehicles and the sharing economy risk collapse, according to a transport expert.... Melbourne University researcher Jason Thompson told insuranceNEWS.com.au insurers must consider future scenarios including autonomous ownership rates, fleet sizes and risk associated with crashes. He says modelling of autonomous vehicles suggests fewer vehicles will be on the roads, which will decrease the number of compulsory third-party premium revenues. Suddenly, potentially you have a mismatch between the personal injury premium revenue and the cost of road trauma, Dr Thompson said. Australia currently records an estimated $5 billion in annual injury costs. The problem is the transition period where you have, for example, 25% of autonomous vehicles on the road, and then you have a whole lot of people in their normal cars, Dr Thompson said. Currently there is no distinction between high and low-risk drivers, everyone is insured regardless of actual risk profile. A reduction in compulsory third-party premium revenue could push up premiums for those without access to autonomous vehicles, creating an uninsurable self-driving population. Dr Thompson says personal injury insurers need to prepare new models now to avoid repeating previous debacles caused by major changes to the transport system, such as the 1986 collapse of Victoria’s Motor Accident Board. At closure, the board experienced widespread fraud, provided poor support for injured people, held outstanding liabilities of $2.6 billion, and had revenue shortfalls of more than $200 per registered vehicle, he said.

23.01.2022 Is credential stuffing the next big cyber threat? Click the link to read about the next big cyber threat https://www.allriskm.com.au/insurance

20.01.2022 What’s happening in the insurance world? Check out this article about insurance personalisation.

19.01.2022 A friendly reminder of the importance of grammar. Hope everyone is having a safe, and restful Good Friday!!

18.01.2022 Wishing you a Happy and safe Easter Holiday!!

14.01.2022 Allianz reveals "eye-watering cost" of cyberattacks https://www.allriskm.com.au/insurance

10.01.2022 Townsville payouts near $900 million 25 February 2019 Facebook Twitter LinkedIn Google Claims are still pouring in from Townsville following devastating floods in the north Queensland city this month.... The latest Insurance Council of Australia (ICA) figures show 21,515 claims have been lodged, with estimated insurance losses of $887 million. This represents 19,614 residential claims and 1901 commercial claims. Many small businesses did not hold flood cover, raising fears some could face ruin if insurance claims are denied. ICA says flood cover has been available to Townsville businesses since 2007, but National Insurance Brokers Association CEO Dallas Booth told insuranceNEWS.com.au it is not easy to place. Mr Booth, who travelled to Townsville to meet owners of affected businesses, says the majority did not have flood cover and most made the decision on cost. But he says there is a supply issue and cover is not readily available. It is available, but it is not included as a matter of course, and it is strictly underwritten. It is not always provided when requested. Invariably, brokers did talk to clients about flood cover and did recommend flood cover. Damaged premises without flood cover will be individually assessed by insurers and hydrologists to ascertain if they have a storm damage claim. It is not known how many claims will be declined. Standard wording defines flood as the covering of normally dry land by water that has escaped or been released from the normal confines of any lake, river, creek or natural watercourse, whether or not altered or modified, or any reservoir, canal or dam. Mr Booth emphasised that his comments are not a criticism of insurers. The challenge for insurers is the same challenge they face with residential strata [in the region] it is called weather. Townsville has had a massive amount of [rain], and there are people from the insurance industry everywhere responding to the needs of the community. He says the flood illustrates again the need for proper planning, proper mitigation and inbuilt resilience. We have to be much smarter in the way we build and manage communities to keep down the cost of claims. ICA CEO Rob Whelan says claims are being assessed on a case-by-case basis, taking into account the damage sustained and the terms and conditions of individual insurance policies.

09.01.2022 Here at All Risk Management, you will deal with a broker direct; whom will work to find and create a tailored policy for you, at the best price. We deal all across Australia. Business or personal, contact us today for a quote on your perfect policy.

07.01.2022 Claim of the Day "I had been driving for forty years when I fell asleep at the wheel and had an accident."Claim of the Day "I had been driving for forty years when I fell asleep at the wheel and had an accident."

06.01.2022 Australians distrustful of autonomous cars https://www.caradvice.com.au//australians-distrustful-aut/ by Scott Collie An overwhelming majority of people aren’t keen on the idea of a driverless car.... More than 58 per cent of Australians don’t trust autonomous cars, and more than 17 per cent think robots can’t match human driving skills according to a study from a local law firm. The report from Smith’s Lawyers, titled Seven Problems Self-Driving Cars Face, found 58.6 per cent of people said no, I like to have control of my car at all times, while just 7.1 per cent agreed with the statement yes, [autonomous cars are] the future when asked would you trust an autonomous car? A further 14 per cent said they’d trust an autonomous car, but only after the technology has been extensively tried, tested and proven safe in the real world. These results are in keeping with previous studies into Australian attitudes toward self-driving technology. Last year, the 2018 Ford Trend Report revealed only 52 per cent of people Down Under are even ‘hopeful’ about the autonomous future, compared to 71 per cent of people in the Middle East, 75 per cent in Brazil, 81 per cent in India and 85 per cent in China. Why the fear? The same Trend Report say 53 per cent of adults in Australia argue artificial intelligence will do more harm than good, and 37 per cent of adults thought technology already does too much thinking for us. The law firm’s report highlights our current reliance on human intuition think eye contact at pedestrian crossings and the oft-discussed trolley problem, along with tough weather conditions and odd animals (kangaroos, for example), as hold-ups in the rollout of autonomous technology. They’re hold-ups that, if the industry tide is anything to judge by, will eventually be overcome. The new Audi A8 is capable of Level 3 autonomous driving in the right legislative environment, and prominent industry figures are keen to highlight the potential safety benefits of full self-driving. Think about this: 1.2 million people die globally on the roads every year. It’s like an epidemic. If you had an epidemic of 1.2 million deaths in the world there would be no government that would stop at anything to put out the vaccine, Robbie Diamond, CEO of Securing America’s Future Energy, told a crowd at CES last year.

05.01.2022 Hello and welcome to All Risk Management Services. Stay tuned for more information. :-) Thank you

01.01.2022 Teen faces 120 charges over insurance fraud and more A Melbourne teenager is facing 120 charges, including those relating to a false insurance claim and a fake emergency truck. The 16-year-old boy was arrested in October after dashcam footage surfaced online of a mock emergency truck driving in the Bayside area with its light flashing and sirens blaring.... It is alleged that the teen, on a learner driver’s licence, drove a fake emergency truck around Melbourne for months, and, on one occasion, sped through the busy Burnley tunnel at 121km/h as its lights flashed and sirens blared, AAP reported. The boy also allegedly took out an insurance policy and falsely claimed that he was burgled, using the insurance payout to rent an office suite. His other charges involve falsely reporting crimes and using digitally altered credit card details to buy some $4,000 worth of emergency sirens and lights. It’s big. There is a lot of evidence to have to look at, the magistrate said at a children’s court on Wednesday.