Liability Insurance

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From: B F


I have just received a letter from my Strata Manager in Adelaide, stating that he must remove some playground equipment we have in a nice garden area in the middle of 10 Villa's.

The insurance company will not cover the liability of play equipment full stop. He is currently talking with the local council, to look at them taking over the liability as it is accessible to the general public.

A solution is needed by 14 April, or the children lose the playground. I would love to hear from anyone else who has solved a similar situation, as words can not describe how I feel about taking a playground away from the children. This has huge implications Australia wide.

BF
 
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Reply: 1
From: Adam McGuinness


All I can suggest is get the strata title manager to get a broker involved who can shop around the various underwriters to get cover.

On a more general note, it's about time parasites stopped looking for a quick pay out, and we got rid of the ambulance chasing solicitors as well. This is really a case of the minority spoiling it for the majority.

Adam
 
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Reply: 2
From: Joanna K


Unfortunately BF, this is the way Public Liability insurance is at the moment. The insurance companies are in a position to screw people, so screw people they will!

I have heard from my insurance broker that reforms are on the way, however, probably not before your deadline.


Kind regards
THE RENTAL SPECIALISTS

JOANNA KARAVASILIS
Principal

rentals@rentalspecialists.com.au
www.rentalspecialists.com.au
 
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Reply: 2.1
From: B F


Unfortunately it's not a matter of being screwed for cash as such. I'm prepared to pay as much as it takes. They simply will not give liability insurance for playground equipment.

If you know an insurer that will, please let me know.

Kind regards

BF
 
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Reply: 2.2
From: Adam McGuinness


OK, I'm going to put myself in the firing line here....I work for one of those insurance companies who are out to screw people, and what’s more in public liability area, and I have access to the stats.

The market in the past has been undercut by cowboy underwriters that have created huge losses that only come to the fore several years down the track, at which we are now at the end. Combine that with the litigious society we now have and you are looking at losses that would make your head spin. Hence the rates that are now emerging are in fact based on a great deal of actuarial analysis.

In fact, a PL portfolio aims to pay out the same value in claims as it receives in premium, less operating costs ie. 100% loss ratio. The profit is made from investing that premium. It is a very delicate balance. A balancing act that those here would understand.

So please bash the banks instead!

Adam
 
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Reply: 2.2.1
From: Sim' Hampel


Nah... I think we'll bash the insurance companies as well... like you said, there are the cowboys out there who have caused these problems for everyone. If the industry can't look after itself, then it ought to get smacked around a bit in my opinion.

Unfortunately I think the regulators are rather useless and toothless in the insurance industry... and this all makes the good guys look as bad as the bad guys, even if they are sound companies in good financial positions.

If the bad guys and cowboys are as big as HIH, then I think the industry needs to take a good hard look at itself.

Of course I am not commenting on the company you work for Adam (I don't know !), just generalisations on the industry as a whole.

 
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Reply: 3
From: The Wife


BF , try Bendigo Insurance Brokers.

Cheers, TW
 
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Reply: 2.2.1.1
From: Paul Zagoridis


Sadly it is the inevitable, illogical and lengthy result of Torts law. Invented in England and taken to bizarre extreme by American ambulance chasers.

Eighteenth Century paternalism saw the Law Lords of the Privy Council create a social agenda. The wealthy, with insurance, should be responsible to the unfortunates who are killed or injured after interacting with them. This was a noble and good agenda.

Fast forward two hundred years. We now cannot insure childrens' playgrounds because insurers fear a little kid will brake an arm and sue them for a google.

That's the reason for it folks. Instead we have a culture of entitlement rather responsibility.

I think my daughter broke her nose in a swimming pool on the Gold Coast. She was playing with the hard plastic life-saver ring some adults threw in the pool. It flipped and hit her in the nose. Yes I could sue the hotel. But I saw her play with it thought it wasn't dangerous. My mistake. Sadly fewer and fewer people seem to take responsibility for their actions.

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
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Reply: 4
From: Brett Watson


My wife is a kindergarten teacher and has been involved in remodelling a number of playgrounds recently to meet regulations that enable them to be insured.
I helped her recently by replacing sand around the equipment with 1 foot deep tan-bark and ensuring that there was a 1.5 metre clearance between climbing equipment and nearby seats, walls etc. I can find out what other regulations there are if you want to keep the playground instead of removing it.
 
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Reply: 4.1
From: Malcolm Miller


BF Why don't you try ringing Neil Mitchell at 3AW in Melbourne He loves anything to do with kids and at the moment he is in Insurance Company bashing mode. Regards Mal
 
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Reply: 4.1.1
From: B F


Thank you all for your help. I'll try the insurance broker first, and if that fails I'll give you an email Brett.

I'll consider the media as a last resort option.

Thank you.

BF
 
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