At the request of the Papua New Guinea ("PNG") market, LMI Group have today launched a PNG version of
LMI BICalculator. This includes the Knowledge Centre and cover calculator for the PNG Industrial Special Risks ("ISR") Mark VII wording.
The development of this product followed a recent trip to PNG by Dr Allan Manning, during which he delivered a paper on the ISR policy and another on business interruption insurance, both subjects in which Dr Manning is regarded as an expert. The audience in both sessions, including the Insurance Commissioner, Mr Salamo Elema, felt that providing such a service to the wider insurance community in PNG would be of great benefit.
QBE Insurance (PNG) have shown a keen interest in the development of the service and have agreed to sponsor
LMI BICalculator so that all brokers and underwriters in PNG will have access to the site at no cost. "Business Interruption is so important for business owners that we felt every opportunity should be provided and hence our support for a PNG version of LMI BICalculator", said Mr Bruce Avenell of QBE.
Other international versions of LMI BICalculator are currently under consideration by the development team here at