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Sofia Ashmore

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In his weekly address, President Barack Obama called on Congress to seize this opportunity – one that may not come again for decades – and finally pass health care reform. With families unable to keep up with skyrocketing costs, premiums rising three times faster than wages, businesses shedding jobs, and deficits piling up every year, reform simply cannot wait. The American people and the American economy need reform that improves care, lowers costs, strengthens businesses, and gives families the choices and security they deserve.

The American Senate and House of Representatives have both debated proposals for health insurance reform.

Obama said :

This issue affects the health and financial well-being of every single American and the stability of our entire economy.

It’s about every family unable to keep up with soaring out of pocket costs and premiums rising three times faster than wages. Every worker afraid of losing health insurance if they lose their job, or change jobs. Everyone who’s worried that they may not be able to get insurance or change insurance if someone in their family has a pre-existing condition.

It’s about a woman in Colorado who told us that when she was diagnosed with breast cancer, her insurance company – the one she’d paid over $700 a month to – refused to pay for her treatment. She had to use up her retirement funds to save her own life.

It’s about a man from Maryland who sent us his story – a middle class college graduate whose health insurance expired when he changed jobs. During that time, he needed emergency surgery, and woke up $10,000 in debt – debt that has left him unable to save, buy a home, or make a career change.

It’s about every business forced to shut their doors, or shed jobs, or ship them overseas. It’s about state governments overwhelmed by Medicaid, federal budgets consumed by Medicare, and deficits piling higher year after year.

This is the status quo. This is the system we have today. This is what the debate in Congress is all about: Whether we’ll keep talking and tinkering and letting this problem fester as more families and businesses go under, and more Americans lose their coverage. Or whether we’ll seize this opportunity – one we might not have again for generations – and finally pass health insurance reform this year, in 2009.

Now we know there are those who will oppose reform no matter what. We know the same special interests and their agents in Congress will make the same old arguments, and use the same scare tactics that have stopped reform before because they profit from this relentless escalation in health care costs. And I know that once you’ve seen enough ads and heard enough people yelling on TV, you might begin to wonder whether there’s a grain of truth to what they’re saying. So let me take a moment to answer a few of their arguments.

First, the same folks who controlled the White House and Congress for the past eight years as we ran up record deficits will argue – believe it or not – that health reform will lead to record deficits. That’s simply not true. Our proposals cut hundreds of billions of dollars in unnecessary spending and unwarranted giveaways to insurance companies in Medicare and Medicaid. They change incentives so providers will give patients the best care, not just the most expensive care, which will mean big savings over time. And we have urged Congress to include a proposal for a standing commission of doctors and medical experts to oversee cost-saving measures.

I want to be very clear: I will not sign on to any health plan that adds to our deficits over the next decade. And by helping improve quality and efficiency, the reforms we make will help bring our deficits under control in the long-term.

Those who oppose reform will also tell you that under our plan, you won’t get to choose your doctor – that some bureaucrat will choose for you. That’s also not true. Michelle and I don’t want anyone telling us who our family’s doctor should be – and no one should decide that for you either. Under our proposals, if you like your doctor, you keep your doctor. If you like your current insurance, you keep that insurance. Period, end of story.

Finally, opponents of health reform warn that this is all some big plot for socialized medicine or government-run health care with long lines and rationed care. That’s not true either. I don’t believe that government can or should run health care. But I also don’t think insurance companies should have free reign to do as they please.

That’s why any plan I sign must include an insurance exchange: a one-stop shopping marketplace where you can compare the benefits, cost and track records of a variety of plans – including a public option to increase competition and keep insurance companies honest – and choose what’s best for your family. And that’s why we’ll put an end to the worst practices of the insurance industry: no more yearly caps or lifetime caps; no more denying people care because of pre-existing conditions; and no more dropping people from a plan when they get too sick. No longer will you be without health insurance, even if you lose your job or change jobs.

The good news is that people who know the system best are rallying to the cause of change. Just this past week, the American Nurses Association, representing millions of nurses across America, and the American Medical Association, representing doctors across our nation, announced their support because they’ve seen first-hand the need for health insurance reform.

They know we cannot continue to cling to health industry practices that are bankrupting families, and undermining American businesses, large and small. They know we cannot let special interests and partisan politics stand in the way of reform – not this time around.

The opponents of health insurance reform would have us do nothing. But think about what doing nothing, in the face of ever increasing costs, will do to you and your family.

So today, I am urging the House and the Senate, Democrats and Republicans, to seize this opportunity, and vote for reform that gives the American people the best care at the lowest cost; that reins in insurance companies, strengthens businesses and finally gives families the choices they need and the security they deserve.

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While most pregnant women with swine flu will only have mild symptoms, there is a higher risk of complications. If you are pregnant and think you may have swine flu, or have a sick child under one year old, call your GP – do not use the new National Pandemic Flu Service.

The National Pandemic Flu Service

A National Pandemic Flu Service has been launched. This will free up GPs so they can focus their efforts on helping those in at risk groups and patients with other illnesses.

If any of the below apply, contact your GP directly – do not use the National Pandemic Flu Service.

  • you are pregnant
  • you have a sick child under one year old
  • your child has a serious underlying illness
  • your child’s condition suddenly gets much worse
  • your child’s condition is still getting worse after five days

National Pandemic Flu Service

Find a local GP

Swine flu – prevention and treatment

Scotland, Wales and Northern Ireland

If you are in Scotland, Wales or Northern Ireland the advice is different.

Follow the ‘information around the UK’ link below.

Information around the UK

I am pregnant.  Am I at higher risk?

While most pregnant women with swine flu will only have mild symptoms like most other people, there is a higher risk of developing complications.  If you are pregnant and think you may have swine flu, call your GP.

Pregnant women with swine flu may be given an antiviral drug called Relenza.  Relenza is taken through an inhaler rather than a tablet.  This means it builds up in your throat and lungs but not in your blood or placenta and should not affect your baby.

The Chief Medical Officer issued this advice on 20 July:

Some pregnant women who catch the swine flu virus will develop complications of the infection (including pneumonia) that could put their own and their baby’s health at risk.  The risks are greatest in the second and third trimesters of pregnancy.  It is too early in the pandemic of influenza to be able to quantify these risks for the individual but most pregnant women who catch the disease are likely to make an uncomplicated recovery.

Bearing these risks in mind, at present, mothers-to-be are not advised to curtail normal activities such as going to work, travelling on public transport, attending events and family gatherings.

They are advised to take the following steps to reduce their risk of infection and complications:

  • observe good hand hygiene (frequent use of soap and water or sanitizer)
  • wherever possible, avoid contact with someone who is known or suspected to have swine flu
  • if they have flu-like symptoms, to make early contact with their General Practitioner who may advise treatment with antiviral drugs

Some mothers-to-be may wish to continue their day-to-day activities but exercise their choice now, on a highly precautionary basis, to avoid large densely-populated gatherings where they have little control over personal contact.

When the pandemic reaches its height (probably in the autumn) as many as 1 in 3 people may be affected.  At that point, the Chief Medical Officer may make a more specific recommendation to mothers-to-be and others (such as those on chemotherapy) with weakened immune systems to avoid densely-populated gatherings.

There is no need for other family members (partners and children) to take special precautions but they should also practise good hygiene.

If you are pregnant, you are in one of the high risk groups for swine flu, so it is important you read this page carefully and follow the advice to protect yourself and your baby.

This page explains why pregnant women are at greater risk from swine flu, what those risks are, the special precautions you should take and the safety information for swine flu treatments.

Why pregnant women are more at risk

In pregnancy, the immune system is naturally suppressed. This means that pregnant women are more likely to catch swine flu, and if they do catch it, they are more likely to develop complications (see below).

However, it is important not to panic: your immune system still functions and the risk of complications is still very small. The majority of pregnant women will only suffer mild symptoms.

Symptoms and risks

If you are pregnant and you catch swine flu, the symptoms are expected to be similar to those of regular human seasonal flu. Typical symptoms are fever and a cough, and sometimes also tiredness, headache, aching muscles, runny nose, sore throat, nausea or diarrhoea.

Most pregnant women will have only mild symptoms and recover within a week. However, there is evidence from previous flu pandemics that pregnant women are more likely to develop complications from flu.

Possible complications are pneumonia (an infection of the lungs), difficulty breathing and dehydration. In pregnant women, these are more likely to happen in the second and third trimester.

If a pregnant woman develops a complication of swine flu, such as pneumonia, there is a small chance this will lead to premature labour or miscarriage. There is not yet enough information to know precisely how likely these birth risks are.

It is therefore important to be well prepared and to take precautions against swine flu.

Special precautions

If you are pregnant, you can reduce your risk of infection by avoiding unnecessary travel and avoiding crowds where possible.

Pregnant women should also follow the general advice outlined in the box, top right. Good hygiene is essential.

If a family member or other close contact has swine flu, your doctor may prescribe you antiviral medication (usually Relenza) as a preventative (prophylactic) measure.

If you think that you may have swine flu, call your doctor for an assessment immediately. If your doctor confirms swine flu over the phone, you will be prescribed antiviral medication to take as soon as possible (see box, left).

Unless you have swine flu symptoms, carry on attending your antenatal appointments so you can monitor the progress of your pregnancy.

Swine flu treatment

Antivirals

If you are pregnant and diagnosed with swine flu, you will usually be given a course of the antiviral drug Relenza, which is inhaled using a disk-shaped inhaler. It is recommended for pregnant women because it easily reaches the throat and lungs, where it is needed, and does not reach significant levels in the blood or placenta. Relenza should not affect your pregnancy or your growing baby.

However, if your doctor or midwifery specialist thinks that a different medicine is needed (for instance, if you have unusually severe flu), you will be given Tamiflu instead.

An expert group reviewed the risk of antiviral treatment in pregnancy, which is extremely small – much smaller than the risk posed by the symptoms of swine flu.

Some people have had wheezing or serious breathing problems when they have used Relenza. Relenza is therefore not recommended for people with asthma or COPD. Other possible side effects include headaches, diarrhoea, nausea and vomiting.

Nausea is a known side effect of Tamiflu, in a small number of cases.

If you take an antiviral and have side effects, see your healthcare professional to check that you are ok. Then report your suspected drug reaction to the Medicines and Healthcare products Regulatory Agency (MHRA) via their new online system.

Painkillers

You can also take paracetamol-base cold remedies to reduce fever and other symptoms. Paracetamol is safe to take in pregnancy.

However, pregnant women should not take non-steroidal anti-inflammatory drugs (NSAIDs) such as ibuprofen (Nurofen).

Vaccine

It will be in the autumn before a swine flu vaccine becomes available. When it is available, there will be guidelines on which groups of people are a greater priority for vaccination.

You should take up the swine flu vaccine as soon as it is offered – it will not harm you or your unborn baby.

How do I tell if my child has swine flu?

As swine flu spreads, it is important to be able to recognise its symptoms and know what to do if you think that you or your family might have it.

One thing you can do right now is to make sure you have a thermometer to take your child’s temperature.  If they have a temperature of 38° C or above and they have any two of the following symptoms, then you should call your GP straight away. The symptoms are:

  • tiredness
  • headache
  • runny nose and sneezing
  • sore throat
  • shortness of breath
  • loss of appetite
  • vomiting and diarrhoea
  • aching muscles, limb and joint pain

If your child is less than one year old and you think they might have swine flu, call your GP immediately.

If my child has swine flu, what should I do?

If your GP confirms that your child has swine flu, they should stay at home and you should treat their symptoms like any other cold or flu.  Make sure they drink plenty of liquids, get lots of rest and take paracetamol to help control their temperature.

Your GP will tell you whether your child should also take antiviral drugs.  Antivirals, such as Tamiflu, shorten the symptoms by about a day and can reduce the risk of complications.

However, they can also have side effects.  If your child’s swine flu symptoms are mild, you may not wish to give them antivirals.  Your GP can advise you on this.

How do I get antiviral drugs for my child?

If you decide that your child should take antivirals, your GP will give you an authorisation code.  Then ask a ‘flu friend’ – a friend or relative who does not have swine flu – to take this code to one of your local antiviral collection points to pick up their antivirals.  Your GP will tell you where these are.

Can I breastfeed if I’m taking antiviral drugs?

Yes.  It is safe for to take Tamiflu or Relenza while you are breastfeeding your baby.  If you or your baby are too ill to breastfeed use expressed milk if you can.

When will there be a vaccine?

Vaccines are complex and difficult to manufacture in large numbers.  The NHS has signed contracts to get enough vaccine for the entire country as soon as it is available.

While the first batches of vaccine will start to arrive it will take several months to get enough vaccine for everyone. It will also take time to fully test the vaccine and to organise the vaccination of everyone in the country.

Will children be first in line for the vaccine?

Scientists and doctors are still testing the vaccine and studying the swine flu virus. When the vaccine becomes available we will prioritise those who need to get it first.

The papers say 65,000 people are going to die!  Is that true?

No.  The figure represents a planning assumption to ensure that the NHS can cope with the very worst case scenario.  The 65,000 figure is the worst case scenario.  It is not a prediction and the government does not expect that many deaths, but it is asking the NHS to prepare for it.

We are about to go on holiday, what should we do?

Wherever you go on holiday, you should always take the same sensible precautions that you do when at home.  Know where you can get medical advice if you or your family feel unwell and make sure you have over-the-counter medication for coughs and sneezes.

If you are going on holiday in the UK then you can contact the local GP surgery or call the National Pandemic Flu Service helpline.

If you are travelling to Europe, make sure you have your free European Health Insurance Card (EHIC).  This entitles you to any necessary medical treatment, including for swine flu, during a visit to another European Economic Area country.  You can get an EHIC application form from the Post Office, by calling 0845 606 2030 or by applying online.

If you have swine flu, we recommend that you do not travel until after your symptoms have stopped.

Whenever you go abroad, always check the latest travel advice from the Foreign Office.

Apply for a European Health Insurance Card Opens new window

Travel advice from the Foreign Office

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Flu is an illness caused by an infection of the influenza virus. The flu virus constantly changes and there are many different strains of flu. Find out the differences between swine flu, pandemic flu, and ordinary flu.

What is it and how serious is it?

A new strain of Influenza A (H1N1), also known as swine flu, was confirmed in the UK in April and has spread to more than 100 countries around the world.

Although symptoms have generally proved mild, a small number of patients will develop more serious illness.  Many of these people have other underlying health conditions, such as heart or lung disease, that put them at increased risk.

Symptoms

Flu symptoms can include:

  • fever
  • cough
  • headache
  • weakness and fatigue
  • aching muscles and joints
  • sore throat
  • runny nose

As with any sort of influenza, how bad and how long the symptoms last will depend on treatment and the patient’s individual circumstances.

Most cases reported in the UK have been relatively mild, with those affected starting to recover within a week.

National Pandemic Flu Service

National Pandemic Flu Service

Who is at risk?

Some groups of people are more at risk of serious illness if they catch swine flu. It is vital that people in these higher risk groups get anti-viral drugs and start taking them as soon as possible – within 48 hours of the onset of symptoms.

Health authorities are still learning about the swine flu virus, but the following people are known to be at higher risk:

  • pregnant women
  • people aged 65 years and older
  • young children under five years old

People suffering from the following illnesses are also at increased risk:

  • chronic lung disease
  • chronic heart disease
  • chronic kidney disease
  • chronic liver disease
  • chronic neurological disease
  • Immunosuppression (whether caused by disease or treatment)
  • Diabetes mellitus
  • patients who have had drug treatment for asthma within the past three years

What is an epidemic and a pandemic?

An epidemic is a sudden outbreak of disease that spreads through a single population or region in a short amount of time.

A pandemic occurs when there is a rapidly-spreading epidemic of a disease that affects most countries and regions of the world.

Swine flu is now a pandemic. Pandemic flu occurs when an influenza virus emerges that is so different from previously circulating strains that few, if any, people have any immunity to it. This allows it to spread widely and rapidly, causing serious illness.

Ordinary flu and pandemic flu – the differences

Ordinary flu:

  • occurs every year during the winter
  • affects 10 to 15 per cent of the UK popuation
  • most people recover within 1 or 2 weeks without medical treatment
  • can be identified in advance and a vaccine can be made (this immunisation is known as the flu jab and helps protect people from ordinary flu)

Pandemic flu:

  • occurs during any season
  • affects more people than ordinary flu (up to half the population)
  • is a more serious infection
  • people of all ages may be at risk of infection
  • a vaccine cannot be made because the virus strain has not been identifed
  • antiviral medicine is stockpiled to treat people

How the flu virus spreads

For information on how swine flu is spread as well as how to prevent it and how it will be treated visit the ‘Swine flu – prevention and treatment’ page by following the link here.

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Saga Insurance, the insurer of the over 50’s, has joined the insurance industry’s collective fight against fraud becoming a member of the Insurance Fraud Bureau (IFB). The IFB’s membership now accounts for 96% of the UK’s personal lines insurers.

Fraud has hit record levels according to the ABI and is costing the insurance industry £1.6bn a year, adding approximately £40 to every premium paid by policy holders.

Nikki Grieve-Top, Head of Fraud, Saga Insurance comments: “We are looking forward to working collaboratively with the industry in the fight against fraud and benefiting from the power of the collective approach. The current climate has exacerbated the number of fraudsters targeting the insurance industry and we are committed to protecting our honest policy holders.”

John Beadle, Chairman of the IFB comments: “We are delighted to welcome Saga to the Bureau membership and look forward to harnessing the additional data that will become available to the benefit of all members as we continue to spearhead the industry’s fight against organised fraud.”

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China Reinsurance (Group) Co.,Asia’s largest reinsurer, is planning an investment strategy in the near term ahead of its planned initial public offering.

China Reinsurance had planned to complete a multibillion-yuan share listing in the middle of 2008, but the plan was postponed because it incurred losses last year and the domestic and offshore equity markets weakened due to the financial crisis.

“To introduce a strategic investor is an important part of China Reinsurance’s long-term development plan,” Chairman Liu Feng said in a statement on the company’s Web site Wednesday.

Liu said China Reinsurance aims to diversify its operations and become a comprehensive financial services group, but he didn’t name any possible investors.

In addition, “the company will seize an optimal opportunity to realize its goal of listing shares at home and abroad,” Liu said, without providing any timeframe.

China Reinsurance had a pre-tax profit of CNY3.183 billion (US$466 million) in the first half ended June 30, compared to its CNY4.91 loss in the year-earlier period, the statement said.

As part of efforts to improve earnings, the company plans to make equity investments in non-insurance sectors, such as infrastructure projects, public-service facilities, and the banking and real-estate industries, the statement quoted Liu as saying.

China Reinsurance, which is 85.5%-owned by Central Huijin Investment Ltd., the investment arm of China’s US$200 billion sovereign-wealth fund, will increase its overseas investments, the statement said, without providing details.

Source : Dow Jones Newswire

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Willis Group Holdings Limited, the global insurance broker, will announce its earnings for the second quarter ending June 30, 2009 after the market closes on Wednesday, July 29, 2009. The Willis earnings release will be available soon thereafter within the “Investor Relations” section of the company’s web site (www.willis.com).

On Thursday, July 30, 2009, at 8:00 AM, Eastern Time, Joe Plumeri, Chairman and Chief Executive Officer of Willis Group Holdings, will host a conference call to discuss the company’s second-quarter results and business trends. Interested parties may access the conference call by dialing (866) 803-2143 (domestic) or +1 (210) 795-1098 (international) with a passcode of “Willis.” Media and individuals will be in a listen-only mode. Participants are asked to call in a few minutes prior to the call to register for the event.

Interested parties may also access the conference call in a listen-only mode via the Internet. To do so they should go to the “Investor Relations” section of the company’s web site and register for the call. A replay of the call will be available through August 28, 2009 at 11:59 PM, Eastern Time, by calling (888) 568-0618 (domestic) or + 1 402-998-1520 (international) with no passcode, or by accessing the web site.

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PowerPlace, the new commercial EDI business, today announces the launch of a new set of Fortis products, including commercial and residential Property Owners, Pubs and Restaurant policies, which are available through the new software. The launch complements the Fortis Shop product, which went live on the platform in April.

PowerPlace is currently used by over 300 brokers operating off the Open GI platform who now have access to 31 live insurer products.  PowerPlace is currently supported by six leading insurance providers including NIG, Zurich, Groupama, Fortis, MMA Insurance and Towergate Underwriting.

Mark Armitage, Managing Director of PowerPlace said, ”The addition of these Fortis products to PowerPlace means that brokers now have access to a range of market leading policies using an online platform which is both cost effective and easy to use.  More and more brokers are now seeing the cost benefits of the PowerPlace software where more products and insurers are shortly to be unveiled.”

Mark Cliff, Managing Director at Fortis Insurance said, “Fortis is a strong supporter of helping brokers transact commercial business online in today’s competitive market place. The delivery of our products through PowerPlace further supports our strategy to grow in the commercial arena, whilst maintaining our promise of providing market-leading efficiency and high levels of service for the benefit of our brokers and their customers.”

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    Commercial insurance underwriting agency APC has confirmed Lloyd’s accreditation status, which the company intends to use as a springboard to launch into Europe.

    APC which is rolling out throught Europe Market could use its own web-based underwriting platform QuoteMac to distribute APC products.

    APC also intends to offer a white label service to European broker partners, which will provide access to its underwriting platform and to a facility within the Lloyds arena.

    Using the Lloyd’s notoriety by having made the first deal, APC intends to rapidly progress its European intentions with further announcements expected soon. This will also allow APC to have direct access to Lloyd’s underwriters, which will provide significant benefits for its 800 UK regional broker partners.

    APC chief executive officer Brian Russell said: “We have had the desire and the expectation for some time that APC would make a step change and we are delighted to have been granted Lloyd’s accreditation as a major part of that.

    “This serves the dual purpose of enhancing the service and position to our existing broker base while laying the foundation stone for APC’s expansion into Europe. There are some exciting developments in play and things are already progressing quickly so we expect to be making further announcements very soon.”

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    Clement B Booth, Member of the Board of Management of general insurance group Allianz SE and Chairman of Allianz UK, has been appointed to the ABI Board. Mr Booth has a wealth of experience of the general insurance industry, and will be a great asset to the ABI as it leads the insurance industry through today’s challenging environment.

    Archie Kane, Chairman of the ABI, said:

    “I’m delighted that Clem has agreed to join the ABI Board. He brings vast experience as a global player in both wholesale and retail insurance, and has an excellent knowledge and understanding of the political and regulatory environment in the European Union and in wider international markets. All this will be invaluable as the ABI Board works to lead the industry through these challenging times, while also continually improving our customers’ experience.”

    Clement B Booth said:

    “This is a crucial time for the insurance industry, and for UK financial services more widely. I’m very pleased to have been appointed to the ABI Board, where I will focus my energies not only on ensuring that the industry is well-placed to continue to weather the economic storm, but also on driving forward reforms in the general insurance industry which will benefit consumers.”

    Full membership of the ABI Board, as at 16 July 2009, is as follows:


    Chairman: Archie Kane, Group Executive Director of Insurance, Lloyds Banking Group.
    Deputy Chairmen: Chris Sullivan, Chief Executive, RBS Insurance and Otto Thoresen, Group Chief Executive, AEGON UK.

    Board members:
    Clement B Booth, Member of the Board of Management, Allianz SE and Chairman of Allianz UK,
    Tim Breedon, Group Chief Executive, Legal & General,
    Annette Court, Chief Executive Officer Europe, General Insurance, Zurich Insurance Company,
    Sir Sandy Crombie, Group Chief Executive, Standard Life Assurance Company,
    Dane Douetil, Chief Executive Officer, Brit Insurance,
    Andy Haste, Group Chief Executive, Royal & SunAlliance,
    Fergus Kee, Managing Director, BUPA,
    Trevor Matthews, Chief Executive, Friends Provident,
    Nicolas Moreau, Group Chief Executive, Axa UK,
    Andrew Moss, Group Chief Executive, AVIVA,
    Nick Prettejohn, Chief Executive UK & Europe, Prudential,
    Keith Skeoch, Chief Executive, Standard Life Investments,
    Craig Thornton, Chief Executive Officer, Swiss Re Life & Health.

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    Aon Benfield, the premier reinsurance intermediary and capital advisor, announces today that Energi Holdings, the industrial captive reinsurance company, has utilized its CapTivate reinsurance solution to support Energi’s growth.

    CapTivate is a reinsurance product tailored specifically to captives, which has been developed by Aon Benfield’s Structured Reinsurance team.

    CapTivate provides captives with reinsurance cover as a form of collateral, which is required of them by fronting insurance companies. It reduces the need for captives to hold cash or letters of credit, which are a more costly alternative.

    In the case of Energi, the CapTivate cover was placed with a leading reinsurance company, rated A by AM Best.

    Brian K. McCarthy, Chief Executive Officer of Energi Holdings, said: “With the changing financial environment, banks are now requiring letters of credit to be secured by liquid assets, at the same time increasing letter of credit costs to as much as 250 basis points.  Aon Benfield’s CapTivate solution provides a more cost effective methodology for single parent, group captives, sponsored captives and industrial captives like Energi.”

    Dan Malloy, US Head of Structured Reinsurance at Aon Benfield, added: “In today’s current credit environment, captives are struggling to find adequate and affordable collateral to secure their obligations to insurance company partners. Aon Benfield has designed a solution which is an alternative to arrangements which are dependent upon bank issued letters of credit. Energi has become one of our first captive clients to take advantage of this structure, which is provided by an A rated leading reinsurer at terms that make sense for all parties.”

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    Direct insurance firm, MORE TH>N, is today launching its Personal Claims Handler (PCH) service to new and existing Home Insurance customers in a bid to provide an unrivalled claims experience.

    From today, customers calling MORE TH>N to register a new claim will be allocated a Personal Claims Handler – a highly trained claims specialist who will process the claim from the moment it is registered right through to its conclusion. Customers will be given their Handler’s full name and contact details so they can call direct to discuss their claim, confident in the knowledge that the person at the other end of the line will know every detail of their case.

    Pete Markey, Marketing Director at MORE TH>N, commented: “When we spoke to our customers it was very clear that one of their biggest frustrations was having to repeat the details of their claims to several different claims handlers.”

    “Our new Personal Claims Service cuts out that problem by making sure the same Handler deals with the customer throughout the whole claims process, providing proactive updates and being the first point of contact for the customer every time they call. We’re confident this will give our customers an unrivalled claims experience in today’s insurance market.”

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    Association of British Insurers (ABI) has reported that car and home insurance fraud is costing the average UK household £44 in higher premiums every year and that over £5 million of fraudulent claims go undetected every day. Firms are also detecting an increase in fraud and rejected £730 million of suspect claims last year.

    Motor insurance scams include withholding details of speeding convictions, submitting an incorrect address when taking out a car insurance policy or naming a parent as main driver of a vehicle being driven mostly by a high risk motorist.

    The ABI also said there has been a rise in fraudulent claims made on home insurance policies – including incidents where people have damaged their own property in order to cash in on ‘new for old’ insurance cover.

    Household insurance saw the highest amount of fraudulent claims by volume, while motor insurance fraud had the highest level in terms of actual payout.

    Additional ABI research revealed that 16% of people would not rule out making an exaggerated insurance claim and 44% think it is acceptable to increase the value of items when making a claim. Three out of 10 people also thought it was acceptable to exaggerate the amount of damage done to goods being claimed for.

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    Businesses have to be extra vigilant during the summer holidays as arson continues to be a significant cause of industrial and commercial fire in the UK.

    The economic climate also means that more empty properties lay prey to arsonists. In 2006, according to the Communities and Local Government UK Fire Statistics, there were over 2000 deliberate fires involving commercial properties such as shops, vehicle trade premises, hotels, boarding houses and restaurants.

    Paul Redington, property claims manager at Aviva, comments: “Action must be taken to prevent attacks. We want to ensure that businesses undertake risk management to protect their property by implementing a number of easy and cost effective measures.”

    Waste stored outside a property in wheelie bins or on pallets, most commonly seen at supermarkets and industrial premises, is one of the most common causes of arson.

    “Waste should be secure, out of reach and cleared away at the end of each day, it should not be allowed to accumulate in secluded areas. We have seen devastating fire damage due to unsecured bins being pushed against buildings and contents ignited causing fire to spread,” says Redington.

    Fire damage to unoccupied buildings is also a major concern as children often use these spaces as playgrounds.

    “Always ensure that perimeters are intact with good quality, well maintained fencing, walls and gates and entrances and windows are fully sealed or boarded up,” says Redington.

    “Gaps beneath external doors should be kept as small as possible and letter boxes should be sealed to prevent mountains of post building up, a clear message to passers-by that a property is empty.

    “Empty properties should be inspected at least every seven days as a situation can change rapidly – once a trespasser is inside the property, the owner or occupier could be liable for any injury caused.

    “Any security that is in place should be made obvious. CCTV should be fully advertised as it can act as a strong deterrent. An effective automatic intruder alarm system is crucial and should be linked to a 24-hour manned alarm which will alert the Fire Brigade and the emergency services. An automatic fire/smoke detection system should also be installed to detect and locate fires in their early stages and help minimise damage. Security lighting, linked to a movement sensor, can also prove a useful deterrent.”

    Redington also recommends that sprinkler systems are put in place: “Not only do they save lives but they reduce the cost of property damage and prevent the kind of post-fire disruption faced by surrounding communities and businesses.”

    Finally, Redington advises property owners to control the movement of visitors, customers and suppliers and ensure they do not have access into staff-only areas. Staff should be encouraged to check credentials of anyone who should not be on the premises and report any suspicious behaviour.

    He concludes: “It’s important that businesses do everything they can to protect themselves from arson. Many of these measures are simple and cost effective or “no cost” but could well prevent devastating incidents during the coming months.”

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    Chaucer Insurance has awarded a three-year contract extension to Teceris, the claims services firm.

    The move means Chaucer will continue to use Teceris’ claims screening service, which is based on a combination of Voice Risk Analysis and Conversation Management.

    According to the Lloyd’s insurer, the system delivers benefits to genuine customers by allowing legitimate claims to be fast-tracked and making significant savings through fraud detection.

    The system works by engaging customers in a short, structured conversation based on the details of their claim.

    This process highlights cases which require further investigation, allowing the majority to be fast-tracked.

    Chaucer will also be piloting Teceris’ new motor liability investigations facility.

    The service is being introduced ahead of the expected Ministry of Justice personal injury reforms and will allow for rapid decisions to be made on liability.

    These decisions will be based on the use of the Advanced Validation Solution which can assist in validating the circumstances surrounding an incident.
    According to the Association of British Insurers a record numbers of fraudulent claims were detected by the industry last year.

    False claims, worth £14 million a week, totalled 107,000 in 2008, a rise in number of 17% on 2007 and a rise in value of 30%.

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    Britain is a nation of “Jekyll and Drivers” according to psychological research released today that reveals 40% of us experience a radical personality change when we get behind the wheel: nearly two thirds (61%) become more aggressive and take greater risks, whilst 39% actually become quieter and overly cautious when they hit the road.

    Over 4,000 motorists took part in the study, commissioned by Insurer Aviva, in conjunction with Professor Geoff Beattie, head of the school of psychological science at the University of Manchester, to uncover and analyse our driving personalities and behaviour on Britain’s roads.

    Drivers were categorised into nine personality types with over one in six (16%) of respondents revealed as “racing drivers”, admitting to disregarding the speed limit and overtaking in built up areas and on rural roads. Nearly a quarter of motorists admitted to sometimes receiving phone calls whilst at the wheel and a third to driving fast in order to impress others.

    Male behaviour is the worst on the road, with male drivers being twice more likely to disregard a red light on an empty road than female drivers. 42% of male drivers also admit to undertaking compared to just over a third of females. The most aggressive drivers on the road are aged 17-21, but motorists do seem to gradually mellow with age as two thirds of over 50s suggest they become quieter and more cautious behind the wheel.

    Professor Geoff Beattie commented: “The research demonstrates that people just don’t seem to know their own personalities when it comes to driving. When we asked people to think more carefully about how they actually behave on the road, the realisation dawned that their natural reactions are not quite what they thought they were.”

    Nearly half of all drivers were more likely to display “conformist” (47%) tendencies such as the typically British trait of blaming themselves for other people’s mistakes and accepting responsibility for an accidents caused by someone else’s recklessness. Only 23% of motorists were genuine “realists”, unbiased, realistic and aware of where any fault lies when driving.

    Adam Cracknell, spokesperson for Aviva added: “It’s important that motorists are honest with themselves about how they really behave when driving. Simple tips like not driving too close to the car in front of you, being courteous in busy traffic and indicating clearly can all help to remove the stress from driving and can help prevent both over aggression and over cautiousness on the roads.”

    The research results contrasted sharply with drivers’ perceptions of their behaviour before they took the test. 41% of drivers believed that they were sensible and courteous “realists” (41%), 16% thought they were low risk “steady eddies” and 11% thought they were occasional risk taking “opportunists”.

    Wales has the highest proportion of “Jekyll and Drivers”  – with nearly half claiming to be sensible behind the wheel, but under testing two thirds were revealed to behave in a more aggressive manner when driving. Londoners are the greatest show offs, with 40% admitting to driving fast in order to show others that they can handle a car and 55% disregarding speed limits more than any other region.

    WHAT TYPE ARE YOU ?

    • “The Realist” – You sometimes like to take risks but can forgo this pleasure. You are not overly cautious in your driving and fairly realistic about your experiences behind the wheel.  You will sometimes jump amber lights.

    • “The Steady Eddie” – You do not like taking risks. You know that you can sometimes make mistakes but also know other people can make mistakes too. You are likely to stick to the speed limit.


    • “The Racing Driver” – You love risk and adrenaline but are unbiased in what you think about your driving and any mistakes that you might make. You like to drive fast and take risks. Examples of your behaviour include breaking the speed limit and overtaking other drivers.

    • “The Chancer” – You take a lot of risks in your driving and typically blame other people and the situation for any negative outcomes. Driving gives you a buzz which means that you drive fast, impulsively and aggressively. Examples of your behaviour include blind overtaking and tailgating.

    • “The Opportunist” – You sometimes like to take risks and believe that these risks are justified because there are a lot of bad drivers on the road.  Examples of your behaviour include overtaking drivers who are driving too slowly or erratically.

    • “The Worrier” – You don’t take risks at all, as you believe that other people don’t have the driving competence that you do. You would prefer to avoid the road at all costs if possible. Examples of your behaviour include slowing down far too early for traffic lights just in case they change colour.


    • “The Thrill Seeker” – You think you are a born risk taker. You believe that anything that happens on the road is solely down to you. You don’t look to blame others in any situation and believe that you are in control of your own destiny. Examples of your behaviour include disregarding speed limits, jumping red lights on deserted roads and overtaking blindly.

    • “The Conformist” – Your driving is characterised by medium levels of risk. You tend to see yourself as responsible for driving and things that go wrong on the road and believe that you are personally to blame for any accidents or bangs. Examples of your behaviour include adhering to speed limits in built up areas.

    • “The Snail” – You take risks very rarely and have a tendency to see yourself as responsible for activity on the road. You may sometimes be overly cautious much to the annoyance of other drivers. Examples of your behaviour include driving under the speed limit.

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    Barclays Bank PLC and CNP Assurances SA have agreed to establish a long-term life insurance joint venture in Spain, Portugal and Italy. As part of this transaction, Barclays will sell a 50 per cent stake in Barclays Vida y Pensiones Compañía de Seguros (‘BVP’), Barclays Iberian life insurance and pensions subsidiary, to CNP.

    Barclays will also enter into a 25-year agreement with CNP for the marketing and distribution of life insurance and pension products through Barclays retail network in Spain, Portugal and Italy.

    The transaction is conditional on, amongst other things, receipt of the necessary regulatory approvals and is expected to be completed this year.

    CNP will pay Barclays an initial upfront consideration of €140 million in cash on completion. This is subject to a post-completion adjustment by reference to BVP’s net assets as at closing. An additional consideration of up to a maximum of €450 million will be payable to Barclays in cash over a period of 12 years, dependent upon the achievement of certain volume and margin thresholds and Barclays branch openings, to maintain a balanced sharing of the value created through the joint venture between the two shareholders.

    Barclays intends to invest the proceeds from the sale in developing its businesses in Spain, Portugal and Italy. This joint venture will support Barclays growth in these countries, where the number of distribution points has already increased from approximately 600 in January 2007 to over 1,000 currently.

    The strategic partnership with CNP will significantly enhance Barclays insurance offering to its retail customers in Spain, Portugal and Italy. CNP, one of the leading players in the European life insurance market, will have access to Barclays customers through its extensive distribution network in Spain, Portugal and Italy.

    Leo Salom, Chief Executive of Barclays Global Retail and Commercial Banking – Western Europe, said: “Barclays joint venture with CNP presents an exciting opportunity for both businesses. Barclays is an ambitious player in the Spanish, Portuguese and Italian markets, and we are confident that CNP’s expertise in insurance product design and manufacture, coupled with the strength of Barclays brand and distribution network, will be a winning combination for our customers and shareholders.”

    Gilles Benoist, Chief Executive Officer of CNP Assurances, said: “We are delighted to launch this partnership with such a highly-regarded bank as Barclays. CNP’s long-standing experience and expertise in life insurance, particularly in Southern Europe, combined with the growth capacity of Barclays in this region, will create long-term value for all parties. Moreover, this partnership refocuses and strengthens CNP’s footprint in the region, and will be a source of positive synergies.”

      0 1

      American International Group, Inc. (AIG) announced that it has closed the sale of 21st Century Insurance Group, the wholly owned subsidiaries of AIG’s U.S. personal auto insurance business, to Farmers Group, Inc. (FGI). a subsidiary of Zurich, for $1.9 billion, consisting of $1.7 billion in cash and $200 million in face amount of subordinated, Euro-denominated capital notes backed by Zurich Insurance Company, Zurich’s principal operating unit. FGI also assumed 21st Century’s outstanding debt of $100 million.

      The transaction excludes AIG’s Private Client Group, which provides property and casualty insurance to high-net-worth individuals.

      “Closing the sale of 21st Century Insurance Group denotes further progress in AIG’s restructuring efforts,” said Edward Liddy, AIG’s Chairman and Chief Executive Officer. “In addition, the transaction further improves AIU Holdings’ quality of capital by monetizing its interest in 21st Century Insurance Group.”

      AIG’s U.S. personal auto insurance business includes 21st Century Insurance (comprising the former AIG Direct and 21st Century Insurance), as well as AIG’s Agency Auto.

      0 0

      Chubb could be forced to pay out up to $2 billion on directors and officers (D&O) insurance policies due to a surge in litigation in the wake of the financial crisis, an insurance expert cautioned this week.

      Jay Gelb, analyst at Barclays Capital, warned investors that “given a potential for a wave of D&O litigation, Chubb does not appear appropriately reserved.”

      “If Chubb’s 2008 U.S. D&O accident year loss ratio of 78% rose to the peak developed loss ratio over the past 10 years of 120% (which occurred in 2002 due to the tech bubble/IPO laddering), we estimate Chubb could report additional D&O losses of $2 billion, pre-tax over several years,” Gelb said in his investors’ report.

      Total D&O insurance losses from the fall-out of the financial crisis could hit $10 billion, Gelb warned, with Chubb sharing approximately one fifth of the market.

      0 0

      Millions of British children could be left in poverty as parents fail to provide financial protection for their children if they were to pass away or become critically ill, reveals research by protection specialist Bright Grey.* As the UK falls further into recession and family finances feel the pinch, British parents have admitted to leaving their children’s financial security to chance.

      Over 7 million UK parents (64 per cent)** believe they do not have adequate financial protection in place to look after their dependent children if they died or became ill. Being time-short or budget-stretched could be preventing parents from taking action.

      More than 1.6 million parents (15 per cent)*** said they have never thought about how their family would survive financially if the worst happened. One in 10 expect their children to live off family savings but with the average person having saved just £2.84 per day, or £1,000 last year**** this could be a short lived security blanket.

      Bright Grey estimates that for less than £20 a month (the equivalent of putting aside £2.84 per day for a week) could buy a male, aged 30 next birthday £87,000 worth of cover – a figure that would take more than a lifetime to achieve for those parents saving £1,000 a year.

      Roger Edwards, Proposition Director at Bright Grey said:

      “People don’t want to think about the financial consequences of themselves or their partner not being around, but it is one of the most important areas of your finances to get right, especially if you have a dependent family. It is worrying that so many families admit to not having sufficient protection in place, but are doing very little to address this.

      “People might be shying away from sorting out cover because it seems a time consuming task or an expense they don’t need at the moment, but the cost of life cover has been falling over the last few years.”

      Bright Grey recently launched Lifestyle Protection, a revolutionary way to buy life and critical illness cover instantly online, paving the way for faster, cheaper and simpler insurance. The product, which is available to buy on theidol.com, tescocompare.com, moneysupermarket.com and comparethemarket.com enables consumers, for the first time, to directly receive an instant decision on life or critical illness insurance and be immediately covered.

      Lifestyle Protection aims to break down the perception that buying life cover or critical illness cover is expensive or a lengthy time-consuming process – putting some people off altogether.

      0 0

      One in five carers is forced to give up employment in order to look after someone, and this causes gaps in their pension record. As a result, many carers struggle to make ends meet when they reach retirement age. This means that if you’re a carer, protecting your pensions can be an important issue.

      There are ways that your state retirement pension can be protected. In order to receive a state retirement pension you have to have:

      • Paid enough national insurance contributions
      • Been credited with enough national insurance contributions
      • A combination of the two.

      National insurance contributions are deductions from your earnings. Credits are amounts that are added to your contribution record in certain circumstances. There are three ways that your pension can be protected. Firstly, you may be able to protect your pension through national insurance credits, which are paid because you’re getting Carer’s Allowance or one of a number of other benefits. Secondly, you may be able to protect your pension through the home responsibility protection scheme if you don’t get Carer’s Allowance. Thirdly, you may be able to protect your pension through the new carer’s credit.

      You may also have a private or works pension. See the information below on the range of pensions that exist and where to seek help if you’re going to take a break from paying into a private or works pension.

      Advice on your pension :

      As a carer, your working years may be a combination of paid employment in full-time, part-time, well-paid or low-paid jobs. There may be years when you haven’t done any paid work or you’ve spent long periods in part-time or low-paid employment. You can still benefit from a private pension in addition to the state pension.

      There are many non-state pension schemes on offer, and you may wish to consider them all before deciding whether you want to take out a personal or stakeholder pension. However, you can also get help in making your decision from a financial adviser or specialist.

      Financial Services Authority
      All companies offering advice on pensions or other financial products must be registered by the Financial Services Authority (FSA). You can check if the person or company you’re using is registered by calling the FSA Consumer Helpline on 0845 606 1234 or using the FSA online register (see External links).

      The Pensions Advisory Service
      The Pensions Advisory Service is an independent, non-profit organisation that provides free information, advice and guidance on state, company, personal and stakeholder pension schemes (see External links).

      Pension tracking
      The Directgov pension service can help you find a pension company you have lost track of even if you don’t have all the details. Visit its online pension tracking service (see External links).

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