\n \n 
\n {points.cip}\n \n \n 
\n {points.cpd}\n \n
\n )\n );\n }}\n \n The system boasts a wide range of features to assist the experienced professional through to the new\n staff members understand new industries and continue with their professional development.\n
\n \n\n LMI RiskCoach has been designed to enable insurance professionals to better understand the risks\n associated with various industries. This online tool systematically analyses the insurance risks\n associated with a particular industry for each major insurance product line, providing it to you in a\n format you can share with your customers.\n
\n\n Facilitate both the up-skilling of new staff members and support for the more experienced\n professionals.\n
\n \n\n Including a building value estimator, under-insurance calculator, and limit of liability calculator.\n
\n \n \n{description}
\n\n Riskcoach dashboard is an information management tool that tracks gathers and displays your activity and\n enables you to monitor your tailored reports, recently viewed browses or your CIP points.\n
\nYou can easily connect to your account or find general information, help and many more.
\n \n\n\n Access the Industry Specific information, the information is broken down to specific classes of insurance but\n takes it one step further by focusing on the specific risks and exposures that are likely to be found in the\n selected industry, this information is supported with photographs, risk checklists and a list of the significant\n exposures.\n
\nType a keyword or browse by category or name.
\n ) : (\nType a keyword or ANZSIC code or browse by category or name.
\n )}\n\n\n Go through the General Information and find a multitude of information on all things risk, the information is\n broken down into the relevant class of insurance ranging from Property Damage and Business Interruption through\n to Marine and Cyber.\n
\n \n \n \n{userProfile.email}
\n\n As always, we would welcome your participation by notifying us of any content that you would like to see\n included:\n
\n\n Personalise your industry report for your client by making insurance class recommendations and adding your\n comments to each.\n
\n{description}
\n {!!onClick && mask && }\n \n);\n\nexport const PointCardAnziif = ({ point, active, mask, onClick }) => (\n{location.address}
\n \n )}\n\n Enter your location to visualise your natural hazard exposure. iProfileRisk NatCat data is sourced from\n SwissRe, providing 16 NatCat summaries for a specified location. To maintain integrity, we merely pass on\n this information without change.\n
\n \n )}\n\nEnter your location to generate Natural Catastrophe analysis.
\n{description}
}\n {menuItems && menuItems.length > 0 && (\n\n The materials contained within this report constitute general information only and should be considered with\n personal financial advice from an Australian Financial Services license holder. It is highly recommended\n that you speak to an insurance professional when setting your insurance program as each policy should be\n tailored to your specific needs.\n
\n\n The information contained within the document is the property of The LMI Group and is intended for the\n addressee only. The contents of this document are not to be reproduced, modified or disclosed by its\n recipient without the express permission of the LMI Group. For a copy of our full terms of use, please visit\n our website:{' '}\n
\n The materials contained within this report constitute general information only and should be considered with\n personal financial advice from an Australian Financial Services license holder. It is highly recommended\n that you speak to an insurance professional when setting your insurance program as each policy should be\n tailored to your specific needs.\n
\n\n The information provided in this publication is current as at the date of publication and subject to any\n qualifications expressed. Whilst Aon has taken care in the production of this publication and the\n information contained it has been obtained from sources that Aon believes to be reliable, Aon does not make\n any representation as to the accuracy of information received from third parties and is unable to accept\n liability for any loss incurred by anyone who relies on it. The information contained herein is intended to\n provide general insurance related information only. It is not intended to be comprehensive, nor should it\n under any circumstances, be construed as constituting legal or professional advice. You should seek\n independent legal or other professional advice before acting or relying on the content of this information.\n Aon will not be responsible for any loss, damage, cost or expense you or anyone else incurs in reliance on\n or use of any information in this publication.\n
\n\n The information contained within the document is the property of The LMI Group and is intended for the\n addressee only. The contents of this document are not to be reproduced, modified or disclosed by its\n recipient without the express permission of the LMI Group. For a copy of our full terms of use, please visit\n our website:{' '}\n
\n The materials contained within this report constitute general information only and should be considered with\n personal financial advice from an Australian Financial Services license holder. It is highly recommended\n that you speak to an insurance professional when setting your insurance program as each policy should be\n tailored to your specific needs.\n
\n\n The information contained within the document is the property of The LMI Group and is intended for the\n addressee only. The contents of this document are not to be reproduced, modified or disclosed by its\n recipient without the express permission of the LMI Group. For a copy of our full terms of use, please visit\n our website:{' '}\n
How to apply the rate
\nTurnover × Rate = Indicative Sum Insured (up to 12 months)
\n| {data.name} | \n|
|---|---|
| \n {`${data.rating}%`}\n | \nClasses of Insurance | \n
| {data.classes.join(', ')} | \n|
\n {data.name}\n\n Classes of Insurance : \n {data.classes.join(', ')}\n \n | \n \n {data.rating}%\n | \n
| \n Risk Summary\n | \n|
| \n | |
| \n Indicative Rate of Insurable Gross Profit\n | \n|
| \n \n The Indicative Rate of Gross Profit Percentage shown below is provided as a guide to assist you in\n determining the adequacy of typical Business Interruption sum insured / declared value within a\n comparable business. One method to test the adequacy of sums insured is to apply the rate to the\n business’s Annual turnover figure. The result of the calculation will reflect an indicative Insurable\n Gross Profit value for a 12-month period based on your industry’s average. While this is a useful\n guide, it should not form the sole basis of determining your sum insured.\n \n {indicativeRate.length > 0 &&\n In the event you’re electing to set a maximum Indemnity Period (period of cover) greater than\n 12-months the Insurable Gross Profit value needs to be proportionately increased. That is, a\n multiplier needs to be applied to the result. For example, if you have chosen an 18-month (1.5 year)\n indemnity period, multiply the results by 1.5, for 24 months (2 year) multiply by 2 etc. This process\n only applies to indemnity periods greater than 12-months. In the event you opt to insure for a period\n of less than 12-months no multiplier is to be applied to the 12-month Insurable Gross Profit value.\n \n\n Please note: The results of the calculation are to be used as a{' '}\n \n guide only\n {' '}\n providing a quick reference for your insurances. The rates have been developed though the averaging of\n data gained though industry analysis. it is important to note that no two businesses are identical and\n just as importantly no two insurance policies are the same. As such, we always recommended that a\n professional analysis and calculation be conducted using your most recent financial statements. Should\n you wish to learn more about Business Interruption, please visit our free resource available at:{' '}\n \n www.biexplained.com\n \n .\n \n | \n |
| \n | |
\n
| \n
\n Amount paid\n
\n| = | \nInsured Values | \n||
| \n \n | \n x | \nAmount of Loss | \n|
| Co-insurance Percentage | \nx | \nReplacement Values | \n|
| = | \n{currency}500,000 | \n||
| \n \n | \n x | \n{currency}250,000 | \n|
| 80% | \nx | \n{currency}1,000,000 | \n|
| = | \n62.50% | \nx | \n{currency}250,000 | \n
| = | \n{currency}156,250 | \n
\n iProfileRisk is a data driven and online accessible platform aimed at simplifying risk hazard\n identification and providing natural catastrophe high level summaries for brokers and their clients. It\n empowers proactive risk identification and risk centred conversations between brokers and their clients,\n through enabling data driven risk decisions and mature financial acumen for insurance risk considerations.\n
\n\n LMI Group is an independent company specialising in risk assessment for the general insurance and wider\n business communities. The LMI RiskCoach research team has over 1,000 years combined experience in assisting\n businesses following losses. Using this enormous bank of knowledge the team has developed RiskCoach to\n assist businesses and their insurance advisers understand the specific risks in up to 16 classes of general\n insurance for their industry / occupation before a claim occurs. LMI believe that insurance should be\n considered as protection and not a cost. The cost of insurance, called a premium, is the cost of\n transferring the risk from the shareholders and their families to an insurer.\n
\n {appTheme === themes.iprofile ? (\n\n Should you have any questions about this report please discuss them with your insurance adviser or email{' '}\n enquiries@steadfastriskgroup.com.au enclosing a\n copy of your report.\n
\n ) : (\n\n Should you have any questions about this report please discuss them with your insurance adviser or email{' '}\n expert@LMIGroup.com enclosing a copy of your report. If you need\n claims assistance, please email claims@LMIGroup.com for expert\n assistance.\n
\n )}\n\n The Insurance Risk Report has been designed to identify significant exposures for a business operating in\n your industry. Contained within this report is a Hazard Index graph which considers both the likelihood and\n severity of losses over 16 insurable classes of insurance for your industry and rates them accordingly. This\n graph is complemented with a number of explanations giving rise to the factors considered when providing the\n rating. If it is not already included in this report, you may request your Insurance Advisor to provide you\n with a list of significant exposures relevant to your industry. These exposures are useful to highlight the\n most likely and severe risks to your industry.\n
\n\n Please note: These ratings have been developed using historical claims and loss data for a\n general business operating in this field. It is recommended that additional factors specific to your\n business be taken into account when assessing this information such as location and crime rates.\n
\n\n It is important to understand that two of the key coverages available in your business insurance, namely;\n Material Damage & Business Interruption operate differently than many other policies such as your home\n and contents policy for example.\n
\n\n The most notable difference is due to what is called the Average clause sometime referred to as the\n Co-Insurance clause. This clause effectively works out the proportion of the risk you have insured for and\n will pay only that proportion of any valid claim considering you to personally be the insurer of the other\n portion ‘the co-insurer’, even in a partial loss. It is vitally important that you understand this, as being\n under insured even in very large businesses can quickly lead to business failure or, at best, financial\n stress.\n
\n\n The following example shows the full impact of being under-insured on a partial loss. The formula on a\n Material Damage or Business Interruption policy with 80% co-insurance/average (most insurance policies will\n give you a 20% buffer so as not to penalise you for accidentally underestimating the true value at risk,\n they understand that it is not an easy task and have provided this tolerance because of this.)\n
\n\n Please note: This is not the hard and fast rule however and you should always do your best\n to insure fully\n
\n\n Identifying hazards in the workplace involves finding things and situations that could potentially cause\n harm to the organisation. The following chart is a graphical representation of the likelihood and severity\n of a loss occurring within any of the classes of insurance listed in the chart.\n
\n\n\n Please note: \n {type === 'Tailored Report' && (\n <>\n The chart has been divided into a maximum of three (3) groups. These groups should be observed carefully\n as they reflect your Insurance Advisors assessment of your organisations Insurance needs.{' '}\n \n )}\n These ratings have been developed using historical claims and loss data for a general business operating in\n this field. It is recommended that additional factors specific to your business be taken into account when\n assessing this information such as location and crime rates.\n
\n{paragraph}
\n ))}\n\n iProfileRisk NatCat data is directly sourced from SwissRe. Using global loss data gathered over decades by one\n of the worlds largest and most trusted re insurers ‘SwissRe’ CatNet provides detailed risk data for a given\n location using historical records. The purpose of which is to provide you with a guide to assess the natural\n risks facing the location in question. CatNet allows you to access, analyse and benchmark using risk data\n through the most recent natural hazard exposures and carry out analysis on near real time event footprints for\n earthquakes, tropical cyclones, floods, bushfires, and volcanic eruption to name a few.\n
\n\n {filteredNatcatProfiles.length > 0 && (\n\n For each class of insurance, a risk grade known as the LMI Hazard Index is provided as an indication of hazard\n for that industry.\n
\nThe grading classification used is:
\n| {item.title} | \n ))}\n|
|---|---|
| {col.render(row)} | \n ) : (\n\n )\n )}\n |
| \n | \n
Please search location to view Natural Catastrophe analysis details
\n )}\n\n This is to certify the eligibility for {type} points for online usage of\n
\n LMI RiskCoach\n
BY
\n\n For the period {startDate} to {endDate}\n
\n As at {moment().format('dddd, DD MMMM YYYY')}\n
(Up to maximum 15 hours claimable per annum)
\n09:59
\n\n LMI RiskCoach subscribers are able to claim time spent using LMI RiskCoach as CIP or CPD credit points under\n current activity rules. Up to maximum 15 points claimable per annum. The CIP certificate can be printed off by\n selecting the period time.\n
\n\n The Certified Insurance Professional (CIP) program requires that Institute CIP members complete and record a\n minimum of 25 CIP points of professional development activities each calendar year (January to December). Up\n to 15 points can be claimed from using LMI RiskCoach.\n
\n ) : (\n\n Brokers, insurance advisers and managers are required to keep well informed and up to date on the latest\n technical, product and regulatory changes affecting the professional by undertaking relevant continuing\n professional development (CPD). Like all professional bodies, NIBA requires all practising members to obtain\n a minimum of 50 CPD points over each two-year period. Up to 20 points over 2 years can be claimed from using\n LMI RiskCoach.\n
\n )}\nLMI RiskCoach certifies the eligibility for 15 CIP points for online usage
\n ) : (\nLMI RiskCoach certifies the eligibility for 20 CPD points for online usage
\n )}\n| {item} | \n ))}\n|
|---|---|
\n {item.title}\n{item.description} \n | \n {item.data[0].map((col) => (\n {col} | \n ))}\n
| {col} | \n ))}\n
Contact Andrew Nock Valuers for any obligation and cost free quotations and assistance throughout Australia
\n \n\n View a table of{' '}\n
{item.content}
\n \n )\n )}\n\n Please Note that this calculator has been built for the Australian market. If you wish to use this calculator\n to illustrate the effects of under insurance outside of Australia you will need to ensure that the loss amount\n selected is equal to or greater than the Sum Insured.\n
\n\n Many people incorrectly believe that if they under insure the only penalty that they are exposed to is if the\n claim exceeds the sum insured. This is simply not correct.\n
\n\n Insurance premiums are based on the assumption that the assests or in the case of business interuption, the\n insurable gross profit are insured for their full value at the inception date of the policy. If the assets or\n insurable gross profit are not insured for their full value a business insurance policy will typically treat\n the policy holder as being a co-insurer for all claims over 5% or 10% of the declared value. Many insurance\n policies allow a percentage of tolerance in getting it right. This is typically 15% (85% co-insurance) or 20%\n (80% co-insurance). There is no tolerance with some business interruption cover such as a standard Industrial\n Special Risks policy.\n
\n\n There are two tests done when a claim occurs. The first is the test for under insurance and the second is a\n test against the policy limit.\n
\n\n The following calculation is designed to highlight the penalty that will be imposed should the sum insured or\n declared value be under the true value at risk at the start date of the policy.\n
\n\n Please remember that the test for Under Insurance is the first of two tests. An insurer will not pay more than\n the Sum Insured/Limit of Liability regardless of the amount arrived at by the Under Insurance Test.\n
\n \n ),\n },\n {\n menuTitle: 'Example',\n icon: IconLightBulb,\n content:We will send an email with further instructions to the address associated with your account.
\n \n\n Welcome to the short courses page. These courses are designed to provide users with a basic understanding of\n topics that are generally misunderstood in the insurance industry. After reading the course content, there are\n revision questions that will both test and reinforce your understanding of the areas covered.\n
\n\n Welcome to the TEST YOUR KNOWLEDGE page. These Quick Quizzes are designed to provide you with an\n understanding of the key risks and hazards for the selected Industry. Gain knowledge by reading the content\n within this industry write up. Afterwards complete the revision questions that will both test and reinforce\n your understanding of the areas covered.\n
\nType a keyword or ANZSIC code to selecct the industry
\n{description}
\nWe invite you to suggest any industry you'd like to see included.
\n \nFor some reason the page you requested could not be found on our server.
\n\n Go Home\n
\nPlease provide the user name of your RiskCoach account.
\nWe will send you an email that will allow you to reset your password.
\n \n