KOCHI: The Ernakulam region of Life Insurance Corporation of India has been retaining the topmost position in terms of first premium receipts for several years. A boom in economy had prompted employees and businessmen to take insurance cover on a large scale. But the situation is not so bright now as the slowdown in the economy is taking its toll on the industry also.
About 40 per cent of the policyholders are postponing payment, says R. Sahasranaman, a senior member of the agency network of the LIC. The payment can be postponed for six months and will be accepted with interest. But there are many customers who want to surrender the policies as they are not confident of being able to remit the premium after a few months. The trend is more visible among those employed in the IT sector. About 20 per cent of his clients are interested in surrendering the policies, according to him. The policy-holders were being advised to hold the policies at least for a year so that the surrender value would be more, he said.
The people are not evincing much interest even in new policies. Jeevan Astha, a policy announced recently which had a minimum premium of Rs.25,000, could not get the expected support from clients, he said. Development Officer N. Muraleedharan too aired a similar view. The business generally goes up in March every year, but the expectations are moderate this time because of the meltdown, according to him.
news source : http://www.hindu.com/
If you are running your own business, you know that it can be hard to keep all the plates spinning at once. The success of your company depends on numerous factors. You need to deal with suppliers, manage your bank accounts, look after your employees, keep accurate records of business expenses and analyze where your business stands financially.
When you are so busy running a business, insurance is probably the last thing on your mind. But you can’t predict everything! Even if you run your business with the greatest care and attention, something unexpected may happen. For example, a courier may slip and fall on your front steps and you will face liability for his/her injury. Business insurance will protect you against a variety of potential risks, for example fire, tornado, business interruption or a death of a key employee. You won’t need to pay a lot of money out of your pocket to cover expenses and keep your business running.
Most people know how home or automobile insurance works. It protects you financially in case of an accident or disaster to your home or vehicle. The same principle applies to business insurance. If unexpected events occur, then the insurance company will cover your financial loss. That’s why getting business insurance is a necessary step. Just as you shouldn’t drive without car insurance, you should not run your company without business insurance! However, you need to understand your company’s needs to buy suitable coverage.
news source : http://www.ecommerce-journal.com/
The 44,000 Utahns who receive unemployment benefits will receive an additional $25 to $75 per week beginning Sunday, although the amount may not be reflected in their checks until sometime around mid-March, according to a statement Wednesday by the Utah Department of Workforce Services, which administers the unemployment insurance program in Utah.
The increase is part of the federal stimulus package and lasts from Sunday through Dec. 31, with a phase-out program until June 30, 2010. The state is required to enter an agreement with the U.S. Department of Labor to send out the money. In the meantime, Workforce Services is programming its systems to begin paying the extra money by March 16 and backdating money from Feb. 22.
Also part of the federal stimulus package is the Emergency Unemployment Compensation program, which authorizes up to an extra 20 weeks of unemployment benefits, not for each claimant but rather for the entire program through Dec. 31 with a phase-out provision until May 31, 2010. About 4,400 Utahns have exhausted their regular unemployment benefits and are receiving emergency unemployment compensation. Last year at this time, 16,400 unemployed workers were filing for unemployment.
news source : http://deseretnews.com/
Should you wait until your car is stolen to worry about protecting it? Of course not! Your car is a crucial part of your life, and it's important to keep it protected. With that in mind, here's the Insurance Institute for Highway Safety's list of the most frequently stolen 2005-2007 model year vehicles in 2008:
1. Cadillac Escalade ESV 4-door 4WD
2. Ford F-250 SuperCrew 2WD/4WD
3. Cadillac Escalade 4-door 4WD
4. Dodge Charger
5. Ford F-350 SuperCrew 2WD/4WD
6. Hummer H2 SUT 4-door 4WD
7. Dodge Magnum
8. Hummer H2 4-door 4WD
9. Dodge Durango 4-door 2WD/4WD
10. Honda S2000 Convertible
If your vehicle is on the "most frequently stolen list," you're at even greater risk for theft -- and you're probably paying more for car insurance as a result.
4 Easy Ways to Prevent Car Theft
If your car made the "most frequently stolen" list, don't worry: there are a number of things you can do to keep it safe. Prevention is the best defense against car theft, and the NICB recommends using these four "layers of protection" to safeguard your vehicle from would-be thieves:
Layer 1 - Use Your Head!
This first layer is a no-brainer: lock your car's doors! An unlocked vehicle with a key in the ignition is an open invitation to any thief, regardless of which anti-theft device you use. Keeping your doors locked is the simplest and most cost-effective way to thwart would-be thieves.
Layer 2 - Purchase a Security Device
Installing a visible or audible device which alerts thieves that your vehicle is protected can help protect your car. As a bonus, a car alarm could land you a car insurance discount. Types of devices include audible alarms, steering column collars, steering wheel locks, brake locks and wheel locks.
Layer 3 - Immobilizing Device
If a thief does enter your vehicle, an immobilizing device can help prevent the car from being hotwired. Some electronic devices have computer chips in ignition keys. Other devices inhibit the flow of electricity or fuel to the engine until a hidden switch or button is activated. Popular third layer devices include smart keys, fuse cut-offs, kill switches and starter/ignition and fuel disablers.
Layer 4 - Tracking Device
The final layer of protection is a tracking device which emits a signal to a police or monitoring station when the vehicle is reported stolen. Tracking devices are very effective in helping authorities recover stolen vehicles.
Safety Devices = Car Insurance Discounts
Taking measures to protect your car against theft could save you money on car insurance! Anti-theft devices could save you 10% or more on your car insurance rate. Even better, using a LoJack® anti-theft device could cut your insurance costs as much as 30% with a participating insurer. The National Insurance Crime Bureau estimates that over one million vehicles are stolen in the U.S. each year-35% of which are never recovered. Now more than ever, make sure your vehicle is protected with a car insurance policy.
news source : http://www.kristv.com/
Unemployment is rising sharply among the older segment of the working population. According to the Unemployment Insurance Fund, the rate at which over 56-year old workers are losing jobs is higher than during the depression of 90's. Compared to last year, twice as many have been shifted into early retirement plans.
Unemployment Insurance Fund Managing Director Heikki Pohja is critical of how many companies speak of pension arrangements for older workers, when it would be more honest to say that they are being fired. "In most cases, it is a matter of the employee losing his or her job and living on unemployment benefits for several years before it is time to get an old-age pension," points out Pohja..
The rise in firings of older employees is in conflict with the government's target of keeping people in the labour force as long as possible. The chairman of a committee that has been examining an overhaul of social welfare, Markku Lehto, has expressed fears that the same thing will happen as during the last serious economic downswing: the job market will lose skilled people and know-how that it will never get back.
"This is clearly a setback. Finland was just turning over a new leaf in appreciation of older people in the workforce. It will be very difficult to get them back into the job market, even if the situation changes within two or three years," argues Lehto. Matti Kokkinen, in Forssa, is being moved into early retirement this summer after 34 years of working at a house construction plant. As late as at the end of 2008, his job looked secure, but the situation changed rapidly. While the early retirement scheme is voluntary, he feels that he is being forced into it.
news source : http://www.yle.fi/uutiset/news/
A car manufacturer has launched a new model especially designed for those suffering from the current economic crisis, car insurance customers may like to hear. Citroen has launched the new C1 Splash, described as "the ideal city car to cruise through the credit crunch," as a bid to help motorists cut costs during the current crisis. According to the manufacturer, the new model offers 62.8 mpg and falls into insurance group one, providing its customers with both cheaper fuel and insurance costs.
The C1 Splash is cheap on road tax letting off 106 g/km CO2 emissions and it also includes air conditioning, central locking, side airbags and electric front windows with a choice of two colours- metallic Electra Blue or Lipizian White, which are exclusive only to this model. Prices for the C1 Splash model begin at £7,345. Meanwhile, Tayside police have ordered drivers to ensure they take adequate safety precautions during the weather conditions. Chief Inspector Sandy Bowman said: "Maintenance is key and ensuring that the vehicle is serviced correctly is extremely important…Brakes, tyres, lights, batteries, windscreens and wiper blades must be in good working order."
news source : http://www.onlyfinance.com/
SALISBURY -- A 20,000 square-foot call center for screening unemployment insurance claims is breaking ground --at an undisclosed Wicomico County location -- and construction can't come fast enough, says the director at the cramped Maryland Department of Labor, Licensing and Regulations' regional office where the workload has reached record proportions.
Claims for first-time benefits recently doubled in the last year at the Salisbury center, one of five opened a decade ago to consolidate walk-in unemployment insurance services in Maryland counties and enabling victims of unemployment to file claims by phone or on the Internet. Claims center director James Wolf isn't revealing the 3-acre location of the new call center ---- or the current one, either -- because the facility is structured to render services strictly by telephone or online.
"We've been on the phone system for 10 years; I don't discuss where we are," said Wolf, a 33-year veteran with DLLR. "We absorb a great percentage of the state workload, taking calls from where an operator is available." Southern Builders has won the contract to erect the single-story building in the Salisbury area. By this fall, the operation should be moving into a space that can comfortably accommodate its 60 workers, with room enough to increase staffing by 30 positions, Wolf said in an interview. Currently, the office rents space to field 20 percent of the state's unemployment insurance claims
Nationwide, applications for first-time claims are expected to rise as economic uncertainty continues. Since last year, the Salisbury center is handling more than 1,000 a week, Wolf said. The number reflects a national recession that last week alone added an additional 500,000 or more Americans to the ranks of the unemployed and further swelled the number of former workers eligible for unemployment insurance. By comparison, the Salisbury office, which consolidated six offices in Easton, Cambridge, Chestertown, Crisfield, Salisbury and Snow Hill, handles between 500 and 600 "during what I call normal times," Wolf says.
"We need more space and we need more people now," he said. "Whether we (hire to capacity) depends on economic conditions down the road, but that is our plan." Jobs at the Eastern Shore call center, for the most part, start as contractual with an opportunity to become full-time. Pay starts at $13.42 per hour for claims takers and $15.14 per hour for adjudication specialists, the bulk of positions. Many current workers were recruited with call center experience from former Call Center Services and Bar None, an auto loan center, Wolf said.
The new location becomes the last among the state's five centers pre-equipped specifically for call center functions, behind Baltimore, College Park, Cumberland and Towson, he said. "The rub now is that rented space is not enough to add additional staff; we've needed additional space for some time," he said. "We've had an unprecedented increase in the number of initial unemployment claims."
news source : http://www.delmarvanow.com/
Unlike other types of insurance like pet or health, this is one type of insurance you must have by law if you drive a car on the roads. The Road Traffic Act 1988 says that you must have some kind of insurance or protection against liability to third parties in the event that personal injury is inflicted upon them, or that their property is damaged, as a result of your use of the road. Quite simply, other people must be protected against any damage caused by using a vehicle. By being insured, the car driver protects innocent parties against costs due to injury, damage to their vehicle, and legal costs.
• Types of car insurance
There are three main types of car insurance:
• third party
• third party fire and theft
• comprehensive insurance cover
• Third party only
Third party is the minimum legal level of insurance you can take out. ‘Third Party Only’ insurance only covers damage or injury caused to someone else, including passengers. It doesn’t provide any cover at all for your own car or property. So if your own car is in an accident and needs repaired you’d have to either pay the repair bill yourself, if you are responsible (legally viable) or claim from the other party if they are responsible. You won’t get any money back if your car is stolen either.
• Third party fire and theft
‘Third Party Fire & Theft’ is similar to ‘Third Party Only’ but also covers your losses if your car is stolen or catches fire. Again, though, just like third party it doesn’t cover you against accidental damage.
• Comprehensive
Just as its name suggests, comprehensive car insurance provides a high level of cover and if your car is worth more than £5,000 then you’d have to choose this type anyway.
You will usually be covered for everything that a Third Party Fire and Theft policy would cover but even better. It will pay out, up to a certain limit, if you accidentally damage your own vehicle and lose or damage your personal belongings from the car. Broken/damaged windscreens will usually be covered too. You can also opt – or it is sometimes included – to add 'personal accident' or 'medical expenses’ cover to your policy.
news source : http://financialadvice.co.uk/news/
Pam Knuth has worked at Kennewick's The Purple Parasol for nine years, but does not have employer-provided health coverage to show for her years of work at the bridal and special occasion store. "If you don't work for a big company you can't get medical insurance, and you can't afford to get your own," said the 45-year-old Kennewick woman. Knuth is covered by her husband's plan, but some of her co-workers haven't been so lucky. Shirley Giarde, co-owner of The Purple Parasol, which also has a Walla Walla location, said several employees have left because she hasn't been able to offer health insurance as a small-business owner.
"That's why we lose some of our really good employees. They need insurance," Giarde said. "I totally understand, but there's no insurance out there I can buy." And even Giarde pays more than $700 monthly for her and her husband's health insurance, yet still was more than $100,000 in medical debt after her husband was diagnosed with viral cardiomyopathy in 2007. Some small-business owners across Washington and the country echo Giarde's plea for government playing a stronger role in guaranteeing access to quality, affordable health coverage in a report released Thursday by the Washington Small Business for Secure Health Care Coalition, a group of more than 1,000 small-business owners and self-employed people who advocate for affordable, quality health care.
Taking the Pulse of Main Street: Small Businesses, Health Insurance and Priorities for Reform is based on a survey of 1,200 small businesses in 12 states -- with nearly 200 respondents from Washington and more than half of those from Eastern Washington. In Washington, 94 percent of small-business owners surveyed considered the affordability of premiums, co-pays and deductibles "very important," while 82 percent said the same about coverage for all necessary medical services, according to the report. Ana Ochoa, who owns La Estrellita, a Pasco children's clothing store, said her husband had to get a second job that provided health coverage for their family, which includes six children. But the coverage still doesn't cover many medical costs for her 5-year-old son who suffers from a disorder that causes medical problems like seizures. The family pays more than $7,000 yearly on his medical costs, Ochoa estimated
"And that's just one of my kids," Ochoa said. "If they do put (health insurance) out there, make sure it's worth it and it's affordable. You want it within reach." One-third of survey respondents said they offered health coverage to employees, and 81 percent of small employers with coverage estimated they pay 5 percent to 10 percent or more of payroll for health insurance, the report said. "We as small-business owners, we're the engines that drive this economy. But the health care crisis is driving us into the ground," Giarde said. "The country is looking to small businesses to create jobs and help revitalize our economy. We need a real health care fix to fulfill that promise."
Twenty-six percent of Washington survey respondents said they'd be willing to contribute 4 percent to 7 percent of payroll to quality health coverage, while 29 percent said they'd contribute 1 percent to 3 percent of payroll. Twenty percent said they wouldn't contribute, according to the report. "We are willing to contribute to health care, but we can't go it alone," Giarde said. In Washington, 54 percent of small-business owners surveyed said they supported a public alternative to private coverage, while 30 percent wanted the creation of more private plans.
A majority of state respondents also supported more public oversight of private insurers and believed government should play a strong role in health care, the report said. "For all that we've done in this country," Knuth said, "we can go to the moon but we can't figure out how to make health care work."
news source : http://www.tri-cityherald.com
All-Type Insurance & Financial Services is an independent insurance and financial agency that provides comprehensive coverage in property and casualty, life, health (including group services) and financial products, notably 401ks, IRAs, retirement planning, rollovers, and college funding to individuals, businesses and institutions in Texas.
Between them, our principal officers and professional staff have over 60 years of professional insurance and financial experience. We are proud of our professionalism and constantly seek to upgrade, improve and enhance our knowhow and skills, to better serve our customers.
news source : http://www.all-typeinsurance.com/
KOCHI: The Ernakulam region of Life Insurance Corporation of India has been retaining the topmost position in terms of first premium receipts for several years. A boom in economy had prompted employees and businessmen to take insurance cover on a large scale. But the situation is not so bright now as the slowdown in the economy is taking its toll on the industry also.
