Posted by Gabriella Hopkins | February 24, 2011

Items to Note in Personal Injury Situations

While you may prefer to settle things amicably when accidents happen and are just as happy to avoid the courtrooms, it is still important to know what your rights are, particularly in the area of personal injury claims. When you are injured there can be a ripple effect throughout many aspects of your life, and so it’s vital to know what your rights are. While you may want to forget about the incident and put it behind you, there are many reasons why that simply can not be done.

The consequences of any injuries may vary from simple to drastic. If you’ve had some bruises but you don’t think that the pain will affect your daily life much, then you can basically just learn to forgive and forget or settle things fast between you and the other party. But you can never be certain as to what will happen once you have encountered such mishap, so it will be best if you will be armed for the battle by knowing what to do at these instances.

First, conduct some simple research on the topic to get a more Comprehensive understanding of the elements at play. In addition on online research, you might also want to visit your local library for printed books on these matters. There are books written specifically for everyday people with no law background or legal jargon knowledge. It is a good idea to skim through any such book before you purchase it, to be sure that it is written in an easy-to-read language.

You can also look for related websites that can help you regarding the topic. You w

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Posted by Gabriella Hopkins | February 23, 2011

Towergate launches SME workplace pension

Towergate Financial has launched a new pension solution specifically for small and medium-sized enterprises (SMEs).

“Workplace Pension in a Box”, which has been developed in partnership with HSBC, has been designed for businesses with fewer than 20 employees, and according to Towergate, is a simple, “plug-and-play” scheme that is easy to administer and can meet employers’ duties under up and coming pension reforms.

From October 2012, employers have to begin automatically enrolling eligible staff into a pension scheme and firms will have to pay a minimum percentage of an employee’s salary into the scheme.

Towergate Financial managing director, David Taylor, comments: “We know that small firms do not feel confident in choosing a pension scheme because of its complicated nature and costs.”

He adds: “Acting now is … a positive move for staff who will be reassured that their employer is making plans for their pension provision.”

 

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Pension, Workplace Pension
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Posted by Gabriella Hopkins | February 17, 2011

Cyber crime costs UK plc £21bn a year

Cyber crime costs the UK economy £27 billion per year, according to a new report launched by the Cabinet Office and information intelligence experts, Detica.

UK business bears the brunt of this kind of criminal activity, at a cost of £21 billion per annum, with intellectual property theft swallowing up £9.2 billion; industrial espionage £7.6 billion and extortion £2.2 billion.

Companies are losing £1.3 billion per annum from direct online theft, with cyber criminals targeting support services, financial services, the construction and materials industry, and the not-for-profit sector.

Theft (or loss) of consumer data costs firms an estimated £1 billion per annum.

The Government is an estimated £2.2 billion worse off each year because of cyber attacks that result in tax and benefits fraud, local government, central government, NHS and pension fraud.

Meanwhile, individuals lose £1.7 billion per annum over identity theft; £1.4 billion per annum in online scams and £30 million for scareware and fake anti-virus software.

The study admits that past attempts to set cyber crime policy, or develop strategies, have been hampered by a lack of insight into the problem and therefore recommends that UK businesses be provided with a government-sponsored service to promote more widespread awareness of cyber crime, and best practice in dealing with it.

 

Tags:
Crime Costs, Cyber Crime, Cyber Crime Costs, Year
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Posted by Gabriella Hopkins | February 12, 2011

SME wake up call on business continuity plans

Small and medium-sized businesses (SMEs) are putting their livelihoods at risk by not taking the time to prepare disaster recovery and business continuity plans (BCP), claims Aviva.

In a recent survey by the insurer, half of SME owners asked about BCPs stated that they had no such plan in place, and a further 16% said they didn’t think they needed one.

However, a study by the Federation of Small Businesses indicates that 80% of small firms affected by a major incident close within 18 months, while 90% of businesses that lose data from a disaster are forced to shut within two years.

Aviva’s commercial product manager, David Bruce, comments: “A disaster or crisis can strike a business at any time and failing to plan for such an event can undo years of good work and hard trading in an instant.”

He adds: “If the worst does happen, then having a business continuity plan in place may be the difference between your business recovering or failing.”

The research also revealed a lack of knowledge as to the role of a BCP with only 36% of respondents aware of them confident that they knew their purpose.

Furthermore, just a quarter of businesswomen confirmed they had a BCP and kept it up to date, compared to 40% of businessmen.

To improve matters, Aviva has designed a new SME BCP template which can be downloaded free from its website.

 

Tags:
Business Continuity, Business Continuity Plans, Continuity Plans, Plans
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Posted by Gabriella Hopkins | February 07, 2011

Willis and Atlas set up Maltese protected cell for Ocado

Willis Group and Atlas Insurance PCC (Protected Cell Company) are claiming an industry first in their use of PCC technology to underwrite UK statutory motor liability, from Malta.

The two have established a new insurance structure to cover the entire UK fleet liability of online supermarket, Ocado, which is a Willis client.

The Ocado cell has been set up within Atlas PCC, but is managed by Willis Management (Malta) Limited and is licensed to write motor and general liability risks.

Atlas Insurance managing director, Michael Gatt, comments: “This is in line with Atlas’ objective as an independent PCC of working closely with insurance management companies and providing the benefits of our protected cell facility to their clients.”

According Willis, the protected cell solution affords clients the opportunity to access the European Union regulatory environment, within a structure that combines a greater level of risk management control at reduced capital and operational costs.

 

Tags:
Cell, Protected Cell
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Posted by Gabriella Hopkins | February 02, 2011

Cheap Auto Insurance FL

Florida Auto Insurance premium rates averaged $1.00 in the year 2008 representing a difference of 4.4 % from the previous year. The premium rates figure in 2008 implies that the Comprehensive coverage averaged at $113.68, the collision averaged at $280.92 and the liability coverage averaged at $756.04. Apart from the shocking statistics, the National Association of Insurance Commissioners has recently conducted a survey that has found out that people living in the district of Florida, New Jersey and Columbia pay more on their auto insurance policies than the people of other states. Even with yearly changes, Florida has been a consistent state that charges high premium rates from the auto insurance policy holders. This makes the people look out for cheap auto insurance FL so that they can save their hard-earned dollars on their auto policies.

The proposed reasons behind the rising auto insurance premium rates in Florida

According to the survey, the NAIC has also reported that several factors come into play when it comes to deducing the reasons behind the sharp premium rate rise in Florida. The type of car insurance that are being brought by the prospective policy holders play an important role in the increasing costs in Florida. Since Florida is a state that is having a good run with the economy, the citizens are getting their brand new cars and with this spending habit, the insurance companies are inventing bigger packages with extra coverage.

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Auto Insurance, insurance
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Posted by Gabriella Hopkins | January 31, 2011

Marsh comment on companies affected by Egyptian crisis

Companies are re-assessing the adequacy of their insurance coverage and risk management arrangements in the wake of political unrest in Cairo and other cities across Egypt, Marsh has reported.

According to the broker, companies investing, manufacturing and trading in emerging markets are increasingly aware that they face a more complex risk landscape, and recent events in Egypt demonstrate how political violence can occur with little warning.

The group’s global head of political risk and trade credit practice, Evan Freely, comments: “We have already seen companies across industries affected by acts of political violence in Egypt, including those in the oil and gas, hospitality and real estate sectors as well as professional services firms and financial institutions.”

He adds: “Affected companies should already be gathering as much information as possible to prepare for the claims process.”

According to Mr Freely, the incidents in Egypt should prompt every company with operations in emerging markets to re-evaluate their risk management strategies.

Finally, the Marsh executive warns that some buyers of terrorism insurance have found themselves without cover following civil disturbances, for example in Thailand last year, because of disagreements about whether certain events were acts of terrorism or political violence.

 

Tags:
Companies, Companies Affected
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Posted by Gabriella Hopkins | January 26, 2011

DUAL launches Public Offering of Securities product

Specialist underwriting agency, DUAL Corporate Risks, has launched a standalone Public Offering of Securities Insurance (POSI) product that provides cover for directors, officers and other assureds for claims arising out of any listing documentation relating to a Public Offering.

Capacity is being provided by Arch and Hiscox, with limits of indemnity up to £10 million, and the new offering is available to UK and Irish listings only.

With the number of listings expected to rise in 2011, DUAL believes its new offering to be “significant and popular”.

The firm’s underwriting director (financial lines), Jennifer Martin, comments: “We are confident this product will be welcomed in view of our exceptional service levels and positive approach to underwriting.”

Earlier this month, DUAL received authorisation from Lloyd’s to underwrite business domiciled in South Africa and Switzerland on a direct basis, via a regulated and approved Swiss broker.

The move has allowed the firm to underwrite its financial products, including Banker’s Blanket Bonds and Commercial Crime in both territories, from 1st January 2011.

 

Tags:
Product, Public Offering
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