The National : THE NATIONAL Issue 2 2009
30 THE AUSTRALIAN NATIONAL DRYCLEANER & LAUNDERER, VOLUME 59 #2 2009 LUNCH Members were treated to a splen- did buffet lunch, with plenty of time to network and chat infor- mally with each other and the Presenters on topics of interest. Industrial Special Risks Policy Darryl Morris of LTM Partners has a background of almost 12 years in insurance, and opened the afternoons program with a very interesting and informative pre- sentation on the impact a Fire could have on a drycleaning busi- ness. He did an excellent job of explaining Insurance Cover, a topic often is misunderstood by most due to it’s complexity. LTM’s Industrial Special Risks policy is tailored to cover all foreseeable instances of loss. Physical and Financial Assets (business interruption) are covered by the ISR policy. Darryl Morris explained that if you were to suffer a total loss, you would be covered for more if the business were to start up again, (up to your policy limits) rather than if you cash in the policy, in which case you would only be covered for physical loss and loss of profit. ‘Under Insurance’ is a big problem, with removal of debris, property values and business interruption being the 3 main areas businesses tend to under insure. A 7 minute Podcast covering Under Insurance gave delegates plenty to consider. “‘Sum Insured’ is something that LTM discuss fully when the policy is taken out, but does need to be updated regularly. Darryl spoke of an easy way to work out the sum insured, and I am sure many of us were going back to our shops to do just that!” Linda added. Unit 11, 4 Gladstone Road Castle Hill NSW 2154 Email: firstname.lastname@example.org ‘Ph: (02) 9899 3585 Fax: (02) 9899 9071 Mobile: 0423 967 484 The World’s Best Unimac Washer is ideal for • Shirts • Doonas • Curtains • Wedding Dress The world famous Speed Queen wash- ers and dryers for all your small loads Unimac Dryer is ideal for • Shirts • Doonas • Pre- condition • Curtains • Auto Dry Wayne Fowler (Herdsmen Drycleaners and the Customer Complaints guru for W.A.) with Linda Ashburner (PDA Inc. WA Executive Officer) and Haydn Raitt (PDA Inc. WA President), with Darryl Morris of LTM Risk Partners.
THE NATIONAL Issue 1 2009
THE NATIONAL Issue 3 2009