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Demolition derby at home

In what may be payback for higher rents these days, insurer SGIO has revealed that one in six claims by landlords in the last year were for malicious damage by tenants. Some significant claims for damage from property investors include deliberately setting fires, intentionally-torn carpets, smashed holes in walls and windows, power points ripped out and doors ripped off. SGIO’s state manager Gary Moore suggested property investors may like to look carefully at taking out specialised insurance products for landlords. So much for being year of the landlord! Still on matters of insurance, OAMPS Insurance Brokers last week completed its acquisition of BGS Insurance Brokers. While the deal is an east thing, The Note had to laugh that BGS actually stands for ‘Bloody Good Service’. Maybe this is where Tourism Australia got its idea from?

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