The 15th Australian Insurance Industry Awards were held at the Big Top in Sydney’s Luna Park. Cunningham Lindsey — inTrust was selected as the winner in the category of Young Insurance Professionals Employer. Congratulations to the team on being the best in the industry and raising the bar for excellence.
Sedgwick names Diego Ascani CEO of Australian operations
SYDNEY– Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced the appointment of Diego Ascani to the role of chief executive officer of Australian operations.
Ascani joined Cunningham Lindsey (acquired by Sedgwick earlier this year) as chief operating officer and head of inTrust for Australia in 2017. In this role, he was responsible for driving the implementation of enterprise-wide strategy and improving operational efficiencies in a number of business and service lines. He has over 27 years’ experience in the insurance industry and is a qualified solicitor and company director.
Ascani holds Bachelor of Commerce, Bachelor of Law and MBA degrees from Bond University. He is also an associate of the Insurance Institute of South Africa and a graduate of the Australian Institute of Company Directors.
As a key member of Sedgwick’s Asia-Pacific senior executive team—which also includes Darryl Cowan, CEO for New Zealand, and Wayne Cheng, general manager, Asia—Ascani will report to Ian Muress, CEO of international operations.
Ascani previously reported to Damon Bennett, former Sedgwick CEO of the Asia-Pacific region; Bennett recently made the decision to leave the company for an extended break before pursuing other opportunities.
“The Asia-Pacific leadership team is working together to bring the best of Sedgwick to our clients,” Muress said. “Damon was dedicated to building our business for 15 years, and we are grateful to be well positioned for long-term success in the region thanks to his efforts. In recent months, Diego has played a central role in the Australian management team, bringing his operational skills and third-party administration experience to overseeing the integration of Cunningham Lindsey and Sedgwick. He and the rest of the Asia-Pacific team are committed to our growth ambitions in Australia and the wider region.
“Our clients remain at the forefront of our business and central to our operations,” Muress continued. “Under Diego’s leadership, we will continue to develop and enhance our services to ensure they reflect their changing business needs and the evolution of the global risk landscape.”
Andrew Cardamis appointed Director, FAS Global Australia
Kimberley Daley, Head of FAS Global in Australia is delighted to announce that Andrew Cardamis this week joined as a Director in Melbourne team. Andrew is a highly regarded forensic accountant with previous experience at Aon and Pitcher Partners. Welcome Andrew !
2018 FAS Global Australia Predictions Competition Update
Attendees of our presentation on Technology & the Future of Business Interruption Insurance Seminar presented by Matthew Griffin earlier this year were invited to enter a predictions competition.
Results for the first two predictions are now in. Steve Smith scored 142 runs in all Tests v South Africa and Australia won 80 Gold Medals at the Commonwealth Games.
For rankings through the first two predictions – click here
FAS Global Australia hosts the Technology & the Future of Business Interruption Insurance Seminar
FAS Global Australia hosted the Technology & the Future of Business Interruption Insurance Seminar in Sydney, Melbourne and Brisbane earlier this month. Matthew Griffin (Partner, FAS Global Sydney) presented on range of topics including how your garden sprinkler will help cure cancer and what it means for business interruption insurance, how advances in InsurTech are shaping the insurance market and what’s in store for business insurance and more.
7th and 8th March saw FAS Global’s Matt Griffin presenting the inaugural Predictions Event to inquisitive audiences in Brisbane, Melbourne and finally Sydney. The informative sessions saw Matt highlight recent enhancements in a range of technologies and speculate as to how future developments will impact the Insurance Profession, and, the way that Business Interruption Claims will be handled in the future.
There were countless talking points contained within the sessions and these was very much evident in the many conversations taking place in each City once the talk finished.
Some of the key take-home points were:
- Technology is moving faster than people expect, including experts in the field.
- Changes in technology will cause significant impact to how BI is underwritten and how claims are adjusted
- The most successful insurers in the commercial space will be the ones that don’t just provide insurance but provide value add services using the data they receive.
To ensure that all of the 100 or so external attendees across the three presentations were fully engaged, they were invited to enter a predictions competition. All were asked to estimate a number of future values, including the Australian Dollar and Bitcoin and even the number of runs that Steve Smith will score during the current Test Series. Some great prizes are offer for the best entrants and updates and results will be provided throughout the year.
Only time will tell which road technology will take us down, however on this evidence, it looks like it will be an enthralling journey.
From cyclones in the north, to bushfires in the south, the Cunningham Lindsey team in Australia are called to respond.
In what was a remarkable Sunday, Cyclone Marcus descended upon the Northern Territory, whilst unpredictable bushfires were uncontainable in New South Wales & Victoria. Our offices across these states have already received calls from our clients to assist affected customers.
Tropical Cyclone Marcus
Having been building to the north of Melville Island for 3 days, Tropical Cyclone Marcus crossed the remote Kimberly Coast before making its way as a Category 2 Cyclone through Darwin at 11am. The accompanying rainfall was not as devastating as the Australia Day monsoon event in January, however winds gusted up to 130km/h. There are many trees down and we are seeing claims from tree impact damage, wind damage and wind driven rain. All of our staff in Darwin are safe, and as you can see by the photo below, having difficulty navigating the streets.
The main focus by authorities right now is to clear debris blocking roads, restoring power and making sure the drinking water is safe to use. As of this morning nearly 20,000 properties remain without power which could lead to many small business interruption claims. Our FAS Global team have increased their accountancy capacity in their Small Claims Team in anticipation of receiving additional volume of losses. We have additional Loss Adjusting staff flying over the next 24 hours to Darwin from Adelaide, with more resources planned ahead of the upcoming Easter break, with our CAT Team being managed by Bradley Johnson. The Cyclone continues to head across the northern coast, but is not expected to cause damage to any more large communities.
The small town of Tathra is a quiet coastal town approximately 100kms north of the Victorian border. On Sunday afternoon, unpredictable winds lead to bushfires changing direction, and rampaging through a number of streets where according to media reports up to 70 buildings were destroyed. Our local contacts have suggested that approximately 40 homes have been destroyed. As of Monday, it is believed that all residents are safe. Our Adjusters from Canberra and Wollongong will be supporting our clients.
The Rural Fire Service were busy on Sunday as they fought fires in the south of Victoria. The ‘fire zone’ covers four main areas between Hamilton and Port Campbell, with the worst being near Terang where 18 homes and 42 sheds have been destroyed. Sadly many livestock have been lost. The cause is thought be lightning strikes, but is still subject of further investigation. Overnight the fire appears to be contained – the fire service has 280 firefighters on the ground, supported by 29 aircraft – a great response and obviously the reason for the fairly rapid success achieved with no loss of human life. Our rural teams have already received claims from brokers in the affected regions, and will be supported from Melbourne if needed.
Cunningham Lindsey is ready to respond to North Queensland flood event
Below is a quick snapshot of Cunningham Lindsey’s first impressions of the north QLD flooding event. To view drone footage of the event – click here.
According to locals, the height of the river may well have exceeded flood levels not seen in 80 years. Even some properties built above 1-in-100 year flood levels, have had inundation.
It would seem that the floodwaters are not from local rainfall, but rather up river water flows. Our drone footage taken at the height of the flood waters on 9th March show the extent of the flooding, however we are yet to fully appreciate the extent of the damage from ground level.
Access from the north via the Cardwell Range may be blocked for the next two weeks, however access via Townsville is open to restricted personnel including Cunningham Lindsey on Tuesday.
The Johnstone River in Innisfail is not necessarily known for flooding, so the inundation could be a result of local rainfall being unable to drain. This will however require further examination.
We have already conducted inspections as far south as Gordonvale, but were restricted from Innisfail itself. Word has come through today that the bridge infrastructure has been cleared for travel by the authorities, and we have arranged inspections for 13th March.
Earlier in the month, rain fell in the western regions where floodwaters have not yet receded, to the point where access has not been possible to many properties. This event may well be similar in some of the more remote regions.
We are expecting a number of businesses will sustain financial losses as a result of the lack of access in Ingham & Innisfail. Our FAS Global team are available to assist with any claims for business interruption from direct damage or wide area damage.
Our licensed Sergon Building Consultants are on standby throughout Queensland, and after observing news footage, they have raised concerns about the force of some flows impacting foundations.
Some of the older housing will have asbestos, which may or may not be impacted, and this will be an area we will be monitoring with support from Oriel Property Services as inspections begin.
Our Loss Adjusters across the business are ready to mobilise and support our branches in Cairns & Townsville.
Should you have any questions, please speak directly to your Account Manager, or Belinda Powell.
The FAS Focus – Edition 12
Click here to download The FAS Focus – Edition 12
The 12th edition of The FAS Focus features an article on wide area damage, jointly written by Andy King, Head of FAS UK, and Mark Thompson, Global Head of FAS. With the various typhoons that hit the United States, South America and Asia in the last few months causing widespread damage, claim parties will need to have a look at policies from a wide area damage perspective.
The second article by David Gibson, Director, FAS Global Australia, discusses the impact of price spikes in the electricity market. Although David looks at the Australian market, the issues raised are universal and can make a big difference to the final claim settlement.
Cunningham Lindsey responds to Typhoon Lan
Typhoon Lan, with sustained winds of 165 kilometers per hour has made landfall in Japan and is affecting weather patterns across the entire country as it travels north along Japan’s East Coast. Several areas in Japan have recorded significant rainfall greater than 500 mm in the past 72 hours according to the Japan Meteorological Agency.
Major flooding with the possibility of landslides are predicted with potential physical damage to buildings, property and construction sites.
Cunningham Lindsey has mobilized a team of Adjusters on the ground from its office in Tokyo, and supported by its operations in Asia. With a network of 9 country offices across Asia Cunningham Lindsey is ready to assist you and your clients.
For further information or if assistance is required please contact your local Area Manager or one of your key contacts below.
General Manager – Japan M +81-90-3335-4347
Stephen Hope Executive Director M +61 421 614278
Sylvia Lin Ting-Yun Loss Adjuster – Japan M +81-80-7882-0941
Robert Williams CEO Singapore M +65 9622 8529
The FAS Focus – Edition 11
Click here to download The FAS Focus – Edition 11
The effectiveness of insurance policies is often judged by the policy’s overall response to actual claims, not only in terms of coverage but also in terms of the process by which a claim is assessed and settled.
In the first article, Stephanie Young of FAS Global (UK) discusses recent UK legislative changes designed to encourage Insurers to pay entitlements under claims within a reasonable time, or risk being liable for damages for consequential losses caused by the delay.
In the second article, Gillian Stretch of FAS Global New Zealand looks at the many ways in which the recent earthquakes in New Zealand affected insured parties and how, in many cases, the best outcome for all can depend on the early development of the most appropriate claims processing strategy in light of the losses sustained and the insurance coverage held.