February 9, 2012
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What you need to consider for covering your business

What you need to consider for ...

Many business owners rely on their personal insurance to cover their small businesses. It is, especially true of business owners, working at home. But health insurance is not designed to ...

How advantageous can be a suitable insurance company?

How advantageous can be a suit...

If you use any form of business, chances are you have some form of business insurance in place. It might be just the legal minimum, it could be any liability ...

As a business owner you need a business insurance

As a business owner you need a...

A woman enters the restaurant you own, and is triggered by a nail protruding from the floor. It sounds great, but a week later she is back with a lawyer ...

Home business requires a business insurance

Home business requires a busin...

There are so many aspects you must consider when you own a home business. Insurance could be something that you do not even have time to think. However, remember that ...

Okla. insurance agent accused of swiping clients’ premiums

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Jayden AnglesJuly 20, 2011

A former Edmond, Okla., insurance agent faces a felony charge of embezzlement for allegedly pocketing some of a couple’s auto and home premium payments.

William J. Liebl, 30, of Okarche was charged with embezzlement, according to the Oklahoma Attorney General’s Office.

The former agent’s insurance license was first suspended and then revoked by the Oklahoma Insurance Department during the investigation, prior to charges being filed, officials reported.

The fraud victims allegedly paid Liebl more than $2,000 in annual premiums for auto and home insurance coverage, according to the insurance department. Liebl

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Tags: Agent, Insurance Agent

Allstate agents, stung by 20% cut in pay, to vote on unionizing

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Jayden AnglesJuly 19, 2011

Many Allstate Insurance agents will soon vote on whether to become a guild of the Office and Professional Employees International Union (OPEIU).

The voting process, being administered by the American Arbitration Association, will give members of the National Association of Professional Allstate Agents (NAPAA) a chance to determine their relationship with the insurer. The votes will be counted Aug. 17.

Fish said Allstate agents face “the prospect of a 20% cut in agent compensation,” making “the time is ripe to affiliate,” said NAPAA Executive Director Jim Fish in a statement. “In add

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Tags: Pay Vote, Vote

DWP redrafts pension auto-enrolment regulations

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Jayden AnglesJuly 18, 2011

The Department for Work and Pensions (DWP) has issued draft regulations on the workplace pension reforms that come into force next year.

New legislation requires employers to enrol workers in a pension scheme and contribute into it from 2012 and the DWP’s latest amendments should make it easier for employers to understand and fulfil their duties.

They relate to the certification of money purchase schemes and certain hybrid schemes, and provide a further explanation of the “optional waiting period”.

The changes are set out alongside a consultation document, with the consultation period ending on 11th October 2011.

Tags: Pension, Pension Autoenrolment

ABI opposes proposed RDR delay

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Jayden AnglesJuly 18, 2011

The Association of British Insurers (ABI) has come out against delaying the implementation of the Retail Distribution Review (RDR) until 2014.

The RDR requires advisors to have qualifications equivalent to a Certificate in Higher Education and will remove the system of commission paid to advisors, replacing it with Consumer Agreed Remuneration.

However, in a new report from the Treasury Select Committee, MPs warn that there could be a “substantial exodus” of experienced advisers from the market, if the RDR comes into force in January 2013, as planned.

The ABI has responded, saying it supports the existing timetable as it will allow more customers to have a better experience when they access financial advice.

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Tags: Delay

Agents split on whether federal health reform law is legal

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Jayden AnglesJuly 16, 2011

A little more than half of respondents say the federal health reform law is illegal and should be stricken, according to the latest IFAwebnews.com poll.

The law, passed in March 2010, has cost health insurance agents and brokers up to 50% of their commissions from insurers, who have had to respond to new requirements placed on them. Those requirements include meeting new medical loss ratios (MLRs), forcing insurers to spend no more than 20% of individual and small-group premium, and 15% of large group premium on administrative costs, including agent and broker compensation.

Exactly 58% of respondents to the poll said the the Patient Protection and Affordable Care Act is illegal and should be stricken entirely in federal court.

Another 25% say the law is completely legal and should remain in place, while another 17% say the law is partially legal and should undergo changes to make it fully legal.

More than 20 federal court challenges are taking aim at the law, passed in March 2010.

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Tags: Health Reform, Health Reform Law, Legal, Reform Law

Home business requires a business insurance

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adminJuly 16, 2011

Busines InsuranceThere are so many aspects you must consider when you own a home business. Insurance could be something that you do not even have time to think. However, remember that with a home business like any business you’re dealing with things that could go wrong and the insurance might end up being something you want you’ve had, even if you don have it. Full Post…

Tags: Business Insurance

Overseas stag parties put revellers at risk

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Jayden AnglesJuly 15, 2011

Stag and hen parties held overseas can lead to more serious after-effects than bleary eyes and a hangover, new research by Direct Line Travel Insurance has revealed.

Of the 5.7m people who held stag and hen parties overseas in the last two years 115,000 knew someone who had had a piercing or tattoo that they regretted.

More than 12% claimed they had gotten lost in a foreign country, leading 114,000 people (2%) missing their flights home.

Revellers were also likely to be victims of crime, with 10% losing money, iPods, cameras and other comparable items and 6% being victims of theft.

Tom Bishop, head of travel insurance at Direct Line, warned that losing inhibitions abroad can lead to unpleasant consequences such as unwanted tattoos and piercings, as well as more serious effects including injuries and theft.

Bishop advised travellers to be aware of risks and look after themselves, and to have appropriate travel insurance in case problems should arise.

 

Tags: Parties, Parties Put

Selective Insurance writes E&S into its commercial lines book

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Jayden AnglesJuly 15, 2011

A Branchville, N.J.-based holding company announced that its subsidiary entered a renewal rights and asset purchase agreement with an Alterra Capital Holdings subsidiary to add excess and surplus lines (E&S) to its portfolio.

Selective Insurance Co. of America entered the agreement with Alterra Excess & Surplus Insurance Co. (Alterra E&S) in respect of the commercial excess and specialty lines business written under contract binding authority (CBA) by Alterra E&S’s contracted general agents.

Alterra E&S’s specialty personal lines business is not included as part of this transaction.

The deal is expected to close Aug. 1. The

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