Rotary Club of Waikanae
Bulletin No. 17 – 44th Year

INotices: 

President Tony welcomed everyone and asked Brent Bohanna to say Grace.

Tony asked Gordon Patching to speak about Steve Botica who is in Hospital and to convey our good wishes to him for a speedy recovery.

Tony congratulated the Club on the tremendous response last week for the Samoa appeal - he said that he was 'so proud'.

Barry Herbert reminded us of the Bowling Night in two weeks and urged those intending to bring friends and partners to indicate accordingly. There will be an alternative Roast meal available for those who prefer that. We need numbers.

Graham Oliver then read us an amusing story about Murphy's 'explanation of an Irish "Bricklayers accident report" Much laughter followed!

Jim Ross was pleased to report that both the Waikanae and Paraparaumu Clubs have been successful in having a student accepted for the Rotary National Science and Technology Forum next year - this shows the calibre of our local colleges.

Richard Starke asked everyone who can, to go to the Gala opening of the first stage of the Rotary Pathways Trust, Paraparaumu Foreshore Millennium walkway and Beach Town Centre upgrade, on Sat. next, October 17th. 10 a.m. to 11.30 a.m. There will be Bands and Stalls -Please wear your Rotary hats.

Sergeant:

Neil Climo made his theme 'The Expressway' - Fines were collected for the overwhelming choice - 'The Sandhill's Motorway' designation. Tony bought the box- because there will be so many houses to be removed!

Raffle:

Graham Benbrook announced that 'the recession is over and we would have 4 draws'. Winners were Steve Golledge, Peter Nation, Gordon Patching and Roger Lawrence

Our speaker:

Iain McKenzie, was introduced by John Bowater who indicated that Iain has been in the Insurance Industry since he left school and is now one of six partners in the Acmahlers Insurance Group.

Iain spoke briefly on several aspects of Insurance - firstly Domestic, where he indicated that Insurance companies are struggling, with all the fall out from recent natural disasters. He said that most people don't realise that 40% of their premiums go in Govt.levies. Iain said that generally we will get a better policy through a broker because they write a policy for individual requirements. You are really buying 'a promise to pay' and most people expect much more from Insurance than they are prepared to pay for.

ver Commercial Insurance - is very competitive and because investment returns are well down, companies are having to increase premiums. Business Insurance really needs specialised knowledge of each specific business. Brokers need to understand the workings of each individual business and can offer that, plus Risk and Advice services as well.

A good Broker negotiates a good policy. Too low a premium often provides inadequate cover - it is important to use the best Brokers and build an ongoing relationship with them. There are major changes surfacing in the market, in that Business owners and senior staff need to be careful of any advice they may give. Bad advice, Fraud, Company failure, can see claims made against those who could be expected to provide a Professional service to their clients. More Directors are becoming liable for their Companies actions and more Directors are being held personally liable for Company losses.

Health and Safety and Resource Management breaches are incurring very costly fines. Because legal processes are becoming prohibitively expensive it is far better now to sort out matters through mediation, particularly employment problems. There is much more ' suing' going on now than previously. Other emerging risks to be aware of are in 'Nano Technology' this offers great benefits but unless strictly controlled can be a real problem.

The latest trend is suing schools for failure to secure a job! Graham Calvert handled questions - some of which were - 'How do I determine whether an Insurance Company is sound? (A) They are all rated and it is not always the Insurance Factor that gets a company into trouble - see AIG. How well does my limited liability company protect me? (A) The Directors can be held personally liable if they have not carried out their duties properly. Should I reduce my Premiums by Increasing my excess payment? (A) Not really, when you do have a claim you need all the reimbursement possible.

Graham thanked Iain for a most informative and interesting talk - as he said, a little scary at times, but we need to be fully aware of the risks. He presented Iain with the Rotary Pen.

Parting Thought:

From Brent Bohanna - Computers make it easier to do a lot of things - but most of the things they make it easier to do, don't need to be done.

Statistics:

Raffle    $57              Sergeant:     $ 26      Members Present:    21      Guests: 1 (Speaker)