Posted by Ryan Rogers on Jul 23, 2010
Insurers may hike premiums for flood-prone properties in Singapore after a deluge caused millions of dollars in damage and led to luxury stores being barricaded with sandbags, a report said Friday.
“Three floods within a one-month period is unprecedented in Singapore,” General Insurance Association president Derek Teo told the Straits Times as businesses and homeowners in the city-state braced for more rains.
The daily estimated that claims for damage to property and vehicles since mid-June could exceed 10 million Singapore dollars (7.28 million US).
Among the flood-prone areas under review is the fashionable Orchard Road shopping belt, home to some of Singapore’s richest people. Some
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Tags: Insurers
Posted by Alexander Murphy on Jul 22, 2010
You may not realize it, but those two times you paid your credit card bill late may mean you’re paying more in auto or home insurance premiums today.
Insurance companies set premiums based on their perceived risk for covering you. To do this, they look at many factors — and your credit history can be one set of factors in insurance risk scoring. Insurance companies believe that people who pay their bills on time may be less likely to file a claim.
Therefore, the same behaviors that hurt your credit score (late payments, payments in collection, too many accounts, being close to your credit limits, etc.) can also lead to higher insurance premiums.
Of course, until recently, credit card companies have not made it easy for cardholders to stay on top of their bills.
That all changed on July 1. Cre
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Tags: Home Insurance, Insurance
Posted by Alexander Murphy on Jul 18, 2010
– London, United Kingdom – It is getting harder to do anything without insurance these days: which is why Lockton’s new sports insurance packages are coming at exactly the right time for extreme sports enthusiasts all over the UK. With talk of compulsory insurance legislation already affecting previously “free” sporting activities like surfing (where the Government has entered into serious talks with the coastal agencies about mandatory craft licensing, of which insurance will form a part), the field of play for the super-active is narrowing quickly. The future is writing itself quickly, and it says: without insurance, you cannot play.
It was never that easy to get sports insurance – unless you were really in the know, where would you even start looking for a company qualified to insure you, your board, and the people around you? Read more…
Tags: Extreme, Sports Insurance
Posted by Ryan Rogers on Jul 17, 2010
US insurance giant AIG has agreed to pay 725 million dollars to settle allegations of market fraud brought by three Ohio pension funds, the state’s attorney general said Friday.
“The settlement resolves allegations of AIG’s wide-ranging fraud from October 1999 to April 2005 involving anti-competitive market division, accounting violations and stock price manipulation,” the office of attorney general Richard Cordray said in a statement.
Cordray declared the class-action settlement a victory for the “teachers, firefighters, police officers, and public employees,” who were “harmed by AIG’s misconduct.”
The company was accused of accounting fraud designed to boost AIG’s reserves to cover claims, a bid-rigging scheme with insurance brokers and executives ordering traders to inflate AIG’s stock price.
Cordray said it was the 10th-largest securities class-action settlement in US history. It is the latest blow
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Tags: 725 Million, 725 Million Dollars, Fraud, Million Dollars
Posted by Ryan Rogers on Jul 17, 2010
The Met Office has issued on Thursday a weather warning in Northern Ireland from 14.00 to 21.00. Heavy rain is expected in locals areas like Antrim, Armagh, Derry, Down, Fermanagh and Tyrone.
“Heavy thundery showers this afternoon are expected to give accumulations of 15mm within a 3 hour period, with isolated accumulations through the afternoon and evening possibly as high as 50mm”, Met Office announced.
“The public are advised to take extra care and refer to TrafficWatchNI.com (operational hours 07.00 to 21.00 Mon to Fri and 09:00 to17:00 on Saturdays) for further advice on road conditions.”
Tags: Heavy Rain, Ireland, Northern Ireland
Posted by Alexander Murphy on Jul 11, 2010
– Orange, CA – Dashers Insurance, a Calfornia based insurance agency has recently launched a new campaign promoting their company by giving away a new V6 2010 Chevrolet Camaro or $15,000 in cash.
To become eligible, participants must complete a quote request on their website http://www.dashers.com during the contest period of June 17, 2010 and August 14, 2010. This sweepstakes contest is open only to eligible California residents who are 18 years of age and older and who hold a valid USA driver’s license.
All eligible participants will be entered into a random draw to win their choice of either a V6 2010 Chevrolet Camaro or $15,000 in cash. The odds of winning depend solely on the number of entries received. The draw will take place at the corporate office of Dasher’s Insurance Services Inc. on 600 City Parkway West, Suite 800, Orange CA. Read more…
Tags: 2010 Chevrolet, 2010 Chevrolet Camaro, Cash, Chevrolet Camaro
Posted by Ryan Rogers on Jul 09, 2010
Business owners really need insurance to protect their investments and valuable assets, especially if it is a small business, because there are numerous factors that can ruin the enterprise and turn all of your efforts into nothing overnight. Business itself in essence is connected to a lot of risk, but when a small business uses loans and credits for day-to-day operations, any financial loss no matter what causes it may be devastating both for the business and the individual behind it.
Looking at all the risks involved it is evident that insuring a business is a must. Small business owners need special protection in six key domains that pose special risk for any enterprise: property, liability, worker compensation, autos, theft, and capital. There are other domains such as errors and omission that require additional security as well.
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Tags: Insurance, Small Business
