May 18, 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 ...

Many Aon Benfield Conference Delegates See 2014 Better for Solvency II Start

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Jayden AnglesJune 25, 2011

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released new findings that show 60 percent of European insurers attending its recent International Analytics conference think 2014 would be a better starting date for Solvency II.

However, 31 percent of the delegates did not want to see the starting date delayed and are working towards the current January 1, 2013 deadline. The remaining 9 percent thought “maybe” the regime should be delayed.

Aon Benfield noted that it is “delivering its Solvency II technology and services, including ReMetricaR – an innovative platform for Solvency II internal models – to ensure all clients are prepared for the final rules if the regime is to take effect in 2013.”

The European Commission has been working on Solvency II for more than 10 years, and the start date has been moved back several times. Aon explain

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Tags: Aon Benfield, Benfield

Genworth sells Medicare supplement to strengthen remaining business

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Jayden AnglesJune 24, 2011

A Richmond, Va.-based insurance holding company announced its agreement to sell for $290 million its Medicare supplement business and related blocks of in-force business.

Genworth Financial agreed to sell its Medicare business to Aetna, based in Hartford, Conn., in a transaction expected to close in this year’s fourth quarter, subject to customary closing conditions and adjustments, and regulatory approvals.

Genworth said it anticipates the transaction to result in a total capital available for redeployment to be about $240 million. T

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Tags: Business, Medicare Supplement

China Accounting Scandals Put Big Four Auditors on Red Alert

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Jayden AnglesJune 24, 2011

The string of accounting problems and stock plunges at publicly traded Chinese groups has sparked deep concerns across the world’s biggest audit firms, putting the so-called Big Four on alert from worries that their reputation could be brought down along with a growing list of stricken companies.

Auditing Chinese firms preparing to go public on overseas exchanges is a lucrative business and one that plays into the strengths of the top, international auditing partnerships known as the Big Four: KPMG, Ernst & Young, Deloitte Touche Tohmatsu and PricewaterhouseCoopers.

Yet fears are growing that the struggle to find enough high-quality auditors in China and Hong Kong means it may only be a matter of time until one of the top firms finds itself caught in a blow-up rivaling Enron, which brought down their old rival Arthur Andersen.

“Costs have gone up; fees have gone down, as competition for fees is enormous. You

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Tags: Alert, Big Four

Lonmar Global Risks negotiates sale of Liability and Affinity portfolios to Gallagher

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Jayden AnglesJune 23, 2011

Independent Lloyd’s broker, Lonmar Global Risks, has announced that it has successfully negotiated the sale of part of its Liability and Affinity portfolio to Arthur J. Gallagher (UK) Limited (Gallagher).

The agreement states that 13 staff will join Gallagher from Lonmar, all of whom have been released early from their contracts for an agreed sum. This includes Tom Payne, Managing Director of Casualty and Charles Heneage, Managing Director of Exceptional Risks.

Commenting on the sale, Simon Rice, Chief Executive of Lonmar, said: “The decision to sell part of our Liability and Affinity business to Gallagher was for our mutual benefit and was agreed under Lonmar’s terms. For the future, we remain fully committed to these classes of business as part of the range of the services available to our international client base.”

Gallagher’s Chief Executive David Ross, said: “We are pleased to have agreed terms for this deal; the acquisition of this business and its associated personnel forms an important part of our ongoing growth strategy.”

 

Tags: Gallagher, Global Risks, Lonmar Global, Lonmar Global Risks

Best Affirms Ironshore and Subs Ratings

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Jayden AnglesJune 23, 2011

A.M. Best Co. has affirmed the issuer credit rating of “bbb-” of Cayman Islands-based Ironshore Inc., as well as the financial strength rating of ‘A-’ and the ICRs of “a-”of Ironshore’s operating subsidiaries. These include Bermuda-based Ironshore Insurance Ltd., Minneapolis-based Ironshore Indemnity Inc., Phoenix-based Ironshore Specialty Insurance Company, and Ireland’s Ironshore Europe Ltd.

The outlook for all of the above ratings is stable.

The ratings reflect Ironshore’s “strong risk-adjusted capitalization, enhanced and developing business profile and highly experienced management team,” Best explained. Furthermore, the rati

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Tags: Ironshore, Ironshore Subs

Car insurance cover for new drivers almost doubles

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Adam BarungaJune 22, 2011

According to a survey now new drivers will have to pay almost double for their car insurance cover this year in 2011.The new drivers will find it difficult to buy car insurance cover as the premium prices are almost double of what offered by the providers couple of years ago.

The newly qualified drivers are searching the best options to get lower insurance quotes. One can opt for further driving training session which will be an add on in their driving experience and the provider will give you its benefit in car insurance premium quotations.

Further the car model and make can also help the new drivers to get low insurance quotes.

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Tags: Car Insurance Cover, Drivers, Insurance Cover, New Drivers

Energy Performance Certificates for holiday lets

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Nate SpofforthJune 22, 2011

Are you aware that from the 30th June 2011 your holiday let accommodation will need an Energy Performance Certificate if it’s rented out, short term, for a combined total of four months or more in any 12 month period?

Although there has been little publication of the rules, The Department for Communities and Local Government has announced that from 30th June, the requirement to have Energy Performance Certificates will extend to self-catering holiday lets in England and Wales.

The decision to extend EPCs to short term holiday lets is seen as a measure to reduce carbon emissions. T

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Tags: Energy Performance, Holiday

Medical Specialists More Likely to Deny Treatment to Children on Medicaid

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Nate SpofforthJune 22, 2011

Children on Medicaid Less Likely to Receive Treatment

According to the study, which was reported in Thursdays New England Journal of Medicine, a large number of children are likely to be denied treatment if they are on Medicaid. This finding was eerily similar to another in May that revealed dentists often deny treatment to children on Medicaid.

The research assistants in the study posed as mothers of sick children and called to make appointments for specialty care at 273 clinics one month apart. In

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Tags: Children Medicaid, Medicaid
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