2008-10-20 Super insurance chips away retirement savings

Rice Warner Actuaries executive director Richard Weatherhead said there were some proprietary superannuation providers that continued the members insurance cover even when their superannuation contributions ceased.

So we always say to people at least salary sacrifice the cost of the insurance cover into the super fund so as not to actually chip away at the money you want to be invested. "

All the super funds today offer some form of insurance and you can be rest assured that 99 per cent of people dont salary sacrifice the cost of the insurance," Centric Wealth Advisers authorised representative Roy Agranat said.

www.investordaily.com.au

2008-10-20 Non-owner drivers can get insurance; TAC rectifies 2002 error

IMT 16, a regulation under Indian Motor Tariff (IMT), to which all vehicle insurance policies have to conform, provides for insurance cover to such persons. When purchasing an insurance policy, the owner of the vehicle can pay an additional premium so that all persons using the vehicle get insured.

After a three-year delay, the Tariff Advisory Committee (TAC), a government consituted body under the Insurance Act, has retrospectively corrected a printing error which denied insurance cover to and lsquo;unnamed and rsquo; drivers of motor vehicles.

www.business-standard.com

- Non-owner drivers can get insurance; TAC rectifies 2002 error

2008-10-20 Deposit insurance to stay unchanged at Rs 1 lakh-Hindustan Times

The DICGC Act empowers the corporation to raise the limit of insurance cover from Rs 1 lakh to a higher limit with the prior approval of the Central government. However, DICGC officials said that there has been no communiqu from the ministry on increasing the cover nor was a possibility discussed in the last meeting of DICGC in September.

Insurance cover for your bank deposits may not be increased from Rs 1 lakh to Rs 2 lakh as of now. Although there had been a preliminary round of discussion by officials in the finance ministry to raise the insurance cover to Rs 2 lakh, sources said that it is not likely to happen in the near future.

www.hindustantimes.com

Although there had been a preliminary round of discussion by officials in the finance ministry to raise the insurance cover to Rs 2 lakh, sources said that it is not likely to happen in the near future. - Deposit insurance to stay unchanged at Rs 1 lakh Deposit Insurance and Credit Guarantee Corporation DICGC

2008-10-19 Fiction: Pink Slip Cover

By the time the company realised the reasons for the unprecedented claims, it was on the brink of bankruptcy. In the absence of pink slip insurance, people did not prefer it over resignations, contributed by the subtle threat of inhuman HR managers. However many ingenious employees preferred pink slips over resignations, and confessed with the subsequent employers, by citing the pink slip insurance cover for their exit through the pink route. Another important reason was the greed of big financial conglomerates in making fast and easy money, showing way for individual greed, in making fast and easy money, by way of pink slip cover. With pink slip cover, it was no longer a taboo for employers and employees in issuing pink slips and accepting it.

desicritics.org

Culture: Fiction: Pink Slip Cover - By denying claims arising out of wars and Gods act of natural disasters, insurers equate God with war mongers. - Fiction: Pink Slip Cover Culture Culture: Original Fiction

2008-10-18 Borders Icelandic debts force refinancing as key Christmas period approaches-Business News, Business-The Independent

Euler Hermes is understood to have scaled back its insurance cover for Borders UK in the summer, but it is understood that it did not affect Borders UKs ability to trade. The outcome of last months meeting is unclear. In the last 12 months, many small-to-medium sized, or struggling, UK retailers have either had their credit insurance cover withdrawn or scaled back. The variety retailer Woolworths and Baugur, the troubled Icelandic investor which owns or has stakes in more than 20 UK retailers, have had their credit insurance reduced.

www.independent.co.uk

Borders UK is still trying to extricate itself from the fall out from the troubles of Landsbanki, the nationalised Icelandic bank.

2008-10-18 Consumers Intentions to Cutback on Insurance Revealed

Of this kind, borrowers may discover that they can merge numerous areas of financial constraint into a single low-cost monthly repayment. This could leave them with more disposable income, meaning they do not have to scrimp on cutting back on insurance. Indeed, this could prove to be of assistance for those looking to go away on holiday after moneysupermarket recently revealed that only four major travel insurance providers offer airline failure protection as a standard part of their cover packages.

www.free-press-release-center.info

During their attempts to reduce pressure on their short-term spending, consumers should look to make sure that their capacity for long-term financial management does not come under unnecessary strain. - Personal loans loans consolidation loans free press release service

2008-10-18 Insurance scene in India throws up fresh challenges

There is 78 percent awareness about insurance-related products in India whilst 24 percent opted for policy from urban households while more or less similar set of figures emerge in rural household where about three-fourth (73 percent ) of households are aware of coverage but only 2 out of 10 households (19 percent) have actually purchased insurance policy. Also the survey lead to interesting dichotomy; the households that owned life insurance policies were more prosperous, educated, owned more consumer durables than those without cover. A development officer with LIC, who didn and rsquo;t want to be quoted, said, and ldquo;Insurance is pivotal to both; urban and rural households. People spend paltry amount for insurance policy due to a lack of awareness of the benefits they can derive from their policy cover and rdquo;.

www.merinews.com

Survey show that while awareness about insurance in India is 81. 1 percent only 30. 6 percent of Indian households own life insurance policies. Another interesting fact is that insurance is yet to penetrate in the rural India. Interesting survey. Insurance in India,Life Insurance Policies in India,Importance of of Insurance Cover,Insurance Products in India,India News Today,

2008-10-17 News-South Africa: Many municipal assets under-insured

This situation could spell financial disaster for these municipalities as the insurance cover paid out could fall well short of the liability incurred as a result of the damage to or destruction of assets," he said.

MEC Mike Mabuyakhulu is of the view that insurance institutions should consider a special category for public assets, considering the fact that municipalities service, in particular, the poor and indigent communities, and that more money must be directed towards improving services (not spent on insurance)," Mabaso said.

www.iol.co.za

Many municipalities are under-insured and stood to lose millions in the event of assets being damaged in natural or man-made disasters, the Lion of Africa insurance company says. - Many municipal assets underinsured South Africa

2008-10-17 Editorial: Try weather-based insurance

The non-clearance of insurance claims can render any risk mitigation product worthless. It is worse when the victims are hapless farmers who, having lost their crops, are deprived of compensation despite having insurance cover under the government-supported National Agricultural Insurance Scheme (NAIS). Unpaid insurance claims are reckoned to have mounted to over Rs 920 crore, owing largely to the failure of state governments to put in their share of the money for running the scheme. This is not the only problem with NAIS, which was evolved after decades of experimentation with over half-a-dozen models of farm insurance products since the 1980s. As the findings of some studies, including the National Sample Survey, have revealed, a large proportion of farmers are either unaware of the available risk management scheme, or are not

www.business-standard.com

- Business Standard Editorial: Try weather-based insurance edit edits editorial editorials non-clearance of insurance claims risk mitigation product worthless National Agricultural Insurance

2008-10-15 PPI Providers Urged Not to Abuse Monthly Contracts

If customers do find that providers are pushing up prices or refusing to offer a renewal of their policy, then seeking out an independent intermediary will help them secure the insurance they need. Firms like British Insurance are committed to providing affordable cover to customers and making sure that the insurance will remain available even if economic conditions get a lot worse. After all, isnt that the whole point of PPI" questioned Burgess.

She comments: "Monthly premiums in the PPI market have helped give customers the flexibility they need to alter their policy should their circumstances change. They have also helped them to make sure they have the right level of cover in place to protect their financial commitments. However if underwriters now refuse to offer cover to those they feel may be at risk or introduce huge leaps in premium, then consumers are going to be left high and dry. "

www.prweb.com

PR: Underwriters in the payment protection insurance (PPI) market must not use monthly renewals to pull the rug out from under the feet of vulnerable policyholders. Braintree, Essex (PRWEB) - Underwriters in the - PRESS RELEASE ppi ppi cover payment protection protection insurance