Upcoming events – Spring 2023
Learn more about upcoming events and workshops that LGIS are taking part in.
A third-party truck failed to give way and pulled out in front of a member’s waste truck causing damage to the vehicle. The truck was assessed and declared as a total economic loss with a pre-accident value of approximately $200,000. The member had declared an asset value of $132,000 for the truck which, given the pre-accident value, meant the truck was significantly undervalued. Motor policies will only pay the lesser of either the pre-accident value or the declared value.
Ensuring motor vehicles are appropriately valued and declared is essential to ensure there is no ‘gap’ between what the motor policy will pay at the cost of replacing the damaged vehicle on a like for like basis (market value).
Local governments should take note of inflationary pressures when valuing their property and motor assets. This is an important step to reduce the loss to our member if and
when disaster strikes, and ensures that your protectio
Learn more about upcoming events and workshops that LGIS are taking part in.
Western Australia is home to 129 public aquatic facilities and thousands more school, hotel/motel and back yard pools. While many know of the risks within these facilities such as lack of patron supervision, inappropriate use of shallow water and issues associated with slips, trips and falls – non-compliance with equipotential bonding (earthing) requirements can present a relatively unknown or hidden risk.
Medicinal cannabis is a therapy that has generated increased national attention over the past two years.
Ensuring all fleet vehicles, especially large specialists vehicles like waste trucks, are appropriately valued and declared is critical to ensure the motor policy will enable the member to replace the vehicle on a like for like basis with no ‘gap’. The member hired a replacement waste truck at substantial cost, but it is likely this will be recovered from the at-fault party.
Waste trucks provide a critical service to the community and the loss of a single asset can have large impacts to members and their service ability.
Through recovery efforts and in-depth assessing reviews, LGIS assisted the member with their UIL (uninsured loss – the ‘gap’ between the motor vehicle coverage and the costs of replacing the vehicle on a like for like basis) and the hire costs (up the motor vehicle policy limit of $5,000).
The member was happy with the settlement but this incident has alerted the member to review all of their asset declarations and valuations on a regular basis.
Lessons from this case
This is a good reminder to members to review their declared asset values across the board.
Our team across the varied portfolios – WorkCare, Liability, Property, Bushfire Volunteer, and Motor protection provide members with more than just claims management. Claims consultants will attend mediations, court, provide coronial inquest support, share lessons learned across WA local government and provide advice to local government staff.
For more information LGIS services, please get in touch with your account manager.
Each month we take your questions to one of our LGIS team members to answer.
If you want to submit a question for next issue, email us at [email protected]
The first quarter of 2023/24 has been a busy one for your Scheme; our member services team has been out on the road visiting members, and I’ve enjoyed the opportunity to continue to meet members and discuss the issues that matter to you.
In 2022/23 LGIS received over 2,300 claims and paid out over $43.8 million. It’s a similar story most years with LGIS handling more than 2,000 claims across property, liability, workers’ compensation, motor and volunteer bushfire fighter protection.
An outside worker in his early 40s sustained a significant workplace injury to his lower back at a local government owned/ operated facility while trying to assist a ratepayer who had attended the facility.
LGIS is the unifying name for the dedicated suite of risk financing and management services for WA local governments, established by the WA Local Government Association in conjunction with JLT Public Sector (part of the Marsh group of companies). LGIS is managed by JLT Public Sector (ABN 69 009 098 864 AFS Licence 226827).
Risk Matters, via this website, is designed to keep members, their staff and elected members informed on topical risk management and insurance issues and LGIS programs and services.
