$100k bill dudded on Travel Insurance

It was supposed to be the cruise of a lifetime, but Gary and Sue McGinty found themselves stuck with a $100,000 bill after their pre-Christmas trip took a terrifying turn.

The couple had booked 26 days aboard the Sun Princess to celebrate their first year of retirement.

But just five days into the Asia cruise, Gary fell shockingly ill.

"I took a couple steps and realised that everything was just spinning," Mr McGinty told A Current Affair.

Gary McGinty and his wife Sue were left with a $100,000 debt after a medical emergency at sea. (A Current Affair)

The former pastor, who had been in good health, suddenly passed out, surrounded by blood.

"I'd vomited heaps of blood ... it was out of the blue, no warning, no nothing," he said.

Mrs McGinty immediately called the ship's hospital, fearing her husband may have burst a stomach ulcer.

Mr McGinty was rushed to the ship's hospital, where the captain and crew soon knew they had to get him off the ship.

He fell during a cruise on the Sun Princess. (A Current Affair)

However, the Sun Princess was between ports and the closest rescue team in Indonesia did not have a winch available to hoist Mr McGinty aboard.

The only option was to call in the Republic of Singapore Air Force.

"I hadn't really cried 'til then," Mrs McGinty said.

"I was numb, I guess, but when I saw that winch go up, that's when I started to cry."

Gary McGinty was airlifted off the ship. (A Current Affair)

There was no room for Mrs McGinty on the helicopter, so she had to wait three days before the ship reached Penang, where her son met her, and they rushed to Singapore to Mr McGinty's bedside.

They found doctors puzzled as to what caused the massive bleed.

"They said it was consistent with a ruptured ulcer but never found any ulcers," Mrs McGinty said.

"It was a small tear or a cut, and they said that can be consistent with vomiting."

Mr McGinty spent 10 days in hospital recovering - even making the Singapore newspapers with a visit from the air force crew that rescued him.

But now, the couple is in an insurance fight.

Mr McGinty purchased the cruise tickets using his American Express card, which had travel insurance.

But when Mrs McGinty tried to claim, while still on the boat, she was told otherwise.

Mr McGinty's credit card was due to expire just prior to the trip.

He called American Express and said a staff member helped him find a new card with lower fees to roll onto.

But American Express claims he cancelled the old card - wiping his insurance.

"Even if I had cancelled the card, I'd paid for the holiday on the card, which I expected they would honour even without the card, because I thought it was a contract," Mr McGinty said.

Sue McGinty had to wait days to see her husband. (A Current Affair)

But he claimed he never cancelled the card, and believes because it expired, he should still be covered.

Finder.com.au insurance expert Sophie Walsh said people should never assume they were covered with complimentary insurance through their credit card.

"The best thing you can do before you go overseas is get in touch with your bank," she said.

Gary McGinty was visited by the crew who had rescued him from the ship. (A Current Affair)

Overall, the McGinty's costs are expected to top $100,000 - including more than $70,000 for the air rescue.

"Dudded is most probably a good word," Mr McGinty said.

"Dudded, let down, disappointed in them."

He is undergoing further testing to find out what happened, and the couple hopes American Express will honour the original policy he had in place.

American Express maintains Mr McGinty did not hold an active card with travel insurance at the time of his trip

Team "Corporate" is a specialised division of Central Insurance Brokers, Perth W.A. Within an established (1980) broking firm, our reputation stands for your deployment, it's reliable and dependable. 

Tesla boss Elon Musk wins defamation trial over 'pedo guy' tweet

FILE PHOTO - SpaceX owner and Tesla CEO Elon Musk speaks at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake

LOS ANGELES (Reuters) - A federal court jury in Los Angeles on Friday found in favor of Tesla Inc <TSLA.O> boss Elon Musk in the defamation lawsuit brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter.

The verdict was delivered on the fourth day of the trial a short time after the case was handed to the jury of five women and three men. The plaintiff, Vernon Unsworth, was seeking $190 million damages against Musk, who during the trial estimated his net worth at $20 billion.

Musk, who testified during the first two days of the trial in his own defense and returned to court on Friday to hear closing arguments from the two sides, exited the courtroom after the verdict and said: "My faith in humanity is restored."

The case is believed to be the first major defamation lawsuit by a private individual to go to trial over tweets.

Unsworth's attorney L. Lin Wood summed up his case against Musk by calling the high-tech entrepreneur a "billionaire bully" who had "dropped a nuclear bomb" on Unsworth in a series of tweets suggesting he was a pedophile.

Wood said Musk's "pedo guy" remark was a slur that would overshadow Unsworth's relationships and job prospects for years to come and urged jurors to teach the Tesla chief executive and SpaceX founder a lesson.

But the jury, in its unanimous decision, was apparently swayed by the arguments put forth by Musk's attorney, Alex Spiro, who said the Twitter message in question arose from an argument between two men and amounted to an off-hand insult that no one could be expected to take seriously.

"In arguments you insult people," he said. "There is no bomb. No bomb went off."

(Additional reporting by Steve Gorman and Dan Whitcomb in Los Angeles, and Jonathan Stempel in New York; Editing by Jonathan Oatis and Grant McCool)

INSURANCE RISK MANAGER

ALLEGATION COVER
DEFAMATION COVER
MANAGEMENT LIABILITY
DIRECTOR AND OFFICER LIABILITY
PROFESSIONAL INDEMNITY
GENERAL LIABILITY

Team "Corporate" is a specialised division of Central Insurance Brokers, Perth W.A. Within an established (1980) broking firm, our reputation stands for your deployment, it's reliable and dependable. 

We welcome "due diligence" enquires, please ask what you deserve to know
 Who will be accountable ?

What skills sets offered ? 

How much Passion and Enthusiasm ? 
You'll like the answers, an owner/operator culture

The Hardended Market

The market for insurance is cyclical.  It fluctuates between the soft market (when premiums hold steady or decrease) and the hard market (when rates increase and coverage is harder to find.)

During the soft market, a lot of insurance companies will offer lower rates to try to expand their

market share.  This is the ideal time to “shop around” or strategically negotiate with an incumbent insurer to get the best price.  As more and more companies move their business to insurance carriers with lower rates, the profits for the insurance industry as a whole goes down.  This reduces carriers’ ability to continue going after new business, and causes the market to start hardening.

During the hard market, the market is less competitive, and underwriters adhere to stricter standards.  It can be difficult to find options for insurance, and as a result, rates go up.

Role of Insurance broker in a hard market

The role of brokers in all of this is to help you navigate the insurance market, whether it’s hard or soft.  They help keep you informed of your rights and responsibilities as it related to your insurance policies and go over the options you have.

With access to an array of markets, they we act as your advocate to get you the best rate, whatever the market conditions are.   They will be work to gain access the best “story” of your risk to drive competition between the insurance carriers to motivate them to offer their best rate to your company.  

A quality measured account manager that takes ownership and genuine interest in your assets will  represent your interests by distinguishing insurers across financial strength, coverage breadth and service quality.  Regardless of market condition, there may be insurers who "low ball" price to attract business, but whose financial condition may be relatively poor, coverage less broad, and service quality inferior.  They should know the importance of rapport, communication and trust to keep you informed so that you can make the best buying decision for your business. 

Is the hard market here?

The property casualty market has been in a soft state for about the past seven years.  For the past couple of years, people have been predicting the market will harden, but that hasn’t been the case.  Now, after much speculation, the market is starting to lean toward a hard cycle.

In addition to the typical market cycles, a number of other things play into the cost of property casualty insurance that may be affecting prices right now:

1. Weather – when there are years with multiple natural disasters, insurance companies experience higher than usual losses, which can drive cots up.  Even things like a higher frequency of thunderstorms can add up in terms of claims.
2. Interest rates - insurers often offset underwriting losses with investment income in order to generate profitable results.  When interest rates are relatively low like they have been recently, investment income declines, which in turn causes upward pressure on rates in order to make a profit. 
3. The recession – as individuals and governments cut costs, some neglect necessary maintenance on properties, roads, and vehicles.  This can result in additional damages that drive up the cost of claims.
4. Increases in hiring – as the recession begins to improve and employers add people to their payroll, this increases the risk to businesses and can impact premiums.
5. Increased health care costs – medical work comp costs have skyrocketed, bringing up the cost of claims. 

What you can do to get the best rate in a hard market

You should discuss your options with your Relationship Manager or Account Manager to determine what makes the most sense for you, but to get the best rate in a hard market (or in any market for that matter) look at doing things like:

• Increase your deductible
• Beef up your safety program
• Create an early-return-to-work program for work comp claimants
• Look for other expense areas to cut

RECOMMENDED

The Steadfast Insurance Broker network

For PERTH WA our survey reveals the most reliable and consistent is 

Central Insurance Brokers Est: 1980 (with the same founding Director)

Call  93688999 Central Insurance Brokers - Est: 1980

The Motto

THE LESSON

The principle benefit of Insurance is the right to transfer to cost and burden to another - your insurer

Liability is often not then cost of negligence but the whopping legal costs in determining the duties in according with the written / statute of law or in the absence of written law  Common law 

There's balance between cost V's convenience 

that's best resolved in a trusted relationship between client and their service provider 

before you can set sail on that course 

do ask the basic questions that you deserve to know 

 

• Who will be accountable ?
• What skills sets offered ? 
• How much Passion and Enthusiasm ?

• You'll like the answers, we are an owner/operator culture

Management Liability easier to read as Defence Liability

When you’re running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act. And it’s not just large companies that are exposed – small and medium business owners and officers could be at risk as well.

Management Liability insurance covers the costs of defending directors, managers and employees against any claims that are the result of their actions or decisions.

Management Liability / Professional Liability / D&O and the like ... often referred to as "Defence Liability" BECOZ more often than not its only LEGAL COSTS in defending the claim which on average are around $29,000 against an average premium of $2,500

Why do I need it?
If you are faced with unexpected liability costs, Management Liability insurance can protect your business and personal assets, such as your home, from being sold to cover the cost of paying claims.

Did you know?
Many businesses think it won’t happen to them, but statistics show otherwise. In fact:

• • The likelihood of a claim that could be covered by a Management Liability policy has tripled in the last 5 years, with 50% of notifications resulting in a claim (Chubb 2016 Private Company Risk Survey).

• • The most common claims are for employment practices like bullying, harassment and wrongful dismissal (Chubb 2016 Private Company Risk Survey).
• • Major claims by amount relate to crime – including employee fraud (Chubb 2016 Private Company Risk Survey).

Penalties awarded against companies and its directors or officers for work health safety breaches have increased by 43% to $22.3 million in one year. Penalties now average $62,000 per company (Safe Work Australia, Key Work Health Safety Statistics 2014).

The types of covers included in Management Liability Insurance policies can vary between insurer but generally, cover can be provided for:

Employment Practices Liability
Covers payouts for claims of employment breaches, such as wrongful dismissal, bullying and discrimination.

Directors’ and Officers’ Liability

Protects your proprietary limited company’s past, present and future directors, officers and managers against claims of wrongful acts, such as misrepresentation or breach of duty (subject to business size).

Crime
Protects your business against claims such as employee or third party fraud (not all criminal activity is covered).

Corporate Liability
Covers costs that your business would incur if you need to defend and settle claims from outside parties alleging wrongful conduct, as well as investigation into the affairs of the company.

Statutory Liability
Covers the cost of defence, fines and penalties under some statutes (eg. Work Health and Safety).

Defence Costs
Covers your legal costs if your business ends up in court.

Recommended Steadfast member Broker in Perth WA Western Australia

Call  93688999 Central Insurance Brokers - Est: 1980

THE LESSON

The principle benefit of Insurance is the right to transfer to cost and burden to another - your insurer

Liability is often not then cost of negligence but the whopping legal costs in determining the duties in according with the written / statute of law or in the absence of written law  Common law 

Landlord Liability slippery bath Mat - Fail!!

A woman who injured her right shoulder slipping on the wet bathroom floor of a holiday apartment in Margaret River has failed in her attempt to sue the owners

Amanda Nikolich fails attempt to sue Margaret River holiday apartment owners over bathroom floor slip

credit PerthNow   April 27, 2019 

A woman who injured her right shoulder slipping on the wet bathroom floor of a holiday apartment in Margaret River has failed in her attempt to sue the owners.

Amanda Nikolich took civil action against Matthew Webb and Karen Somers, the owners the studio apartment, after her injury on Valentine’s Day in 2014.

A spa she’d been enjoying with her husband, Goran, had been interrupted by a smoke alarm going off repeatedly. Mr Nikolich had responded three times, getting out of the bath without drying to turn it off.

Each time the bathroom floor got wetter.

Later after both had showered and gone to bed, Ms Nikolich went back to bathroom to check on some tea candles. As she reached for one of the candles, she slipped and fell, screaming out in “pain”.

Chaos ensued when Mr Nikolich came to her aid and also slipped, falling on his back, with both ending up in a “heap” on the floor.

After giving her some pain relieving medication, he took her to the local hospital.

In the District Court trial, Ms Nikolich alleged the owners failed in their duty of care by not warning them about the slipperiness of the polished concrete floor when wet, failing to provide sufficient bath mats as well as a grab rail.

She also alleged water leaked from the shower, increasing the slip risk.

Mr Webb and Ms Somers claimed Ms Nikolich’s injury was caused by her negligence.

In his judgment published this week, Judge Hylton Quail agreed that the plaintiff had contributed to her injury because she knew the bathroom floor was still wet and could have dried the floor with towels or put a towel on the floor, but didn’t.

did the landlord have insurance ... the costs to defend are substantial and such costs are included in Liability policies.

Recommended Steadfast member Broker in Perth WA Western Australia

 Call  93688999 Central Insurance Brokers - Est: 1980

JUDGE DETERMINATION

He found she also failed to steady herself by holding onto the vanity, spa, wall edge or towel rail.

The fact that water accumulated near the bath and outside the shower recess “was a matter of common experience and known to all reasonable adults who use bathrooms.”

THE LESSON

The principle benefit of Insurance is the right to transfer to cost and burden to another - your insurer

Liability is often not then cost of negligence but the whopping legal costs in determining the duties in according with the written / statute of law or in the absence of written law  Common law