With warm temperatures right here in UK, water season is luring the boat enthusiasts. If you are on your boat every day or whether on weekends, you must have boat insurance at least during summer months, and beyond if possible. With this in mind Insurance Blog thought we’d take a look at the oldest type of insurance…. Read the rest of this entry »
CPI annual inflation stands at 3.1 per cent, down from 3.2 per cent in June, reveals the latest Consumer Price Index showing that the market will self adjust to inflationary pressures without the intervention of monetary or fiscal policies designed to rock the boat!
The CPI fell by 0.2 per cent between June and July this year compared with no change over the same period a year ago. Read the rest of this entry »
The use of asbestos was banned over thirty years ago, but the UK Insurance Industry now faces a time bomb of claims from people directly or indirectly exposed to the deadly substance.
Asbestos was once hailed as a miracle product but its use has exacted a terrible price for those exposed to it. Diseases caused by ingestion into the lungs such as Asbestosis and Mesothelioma may take over forty years to become apparent, and the true cost of the substance use in damages claims, is only just beginning to occur. Read the rest of this entry »
The prawn sandwiches were out in force yesterday at Old Trafford as the new sponsors of Manchester United Football Club, Aon the giant American Insurance Broker, took over the lucrative deal from disgraced and broke AIG the not so giant American Insurance Company.
AIG had to pull out their 14 million a year deal which ran until the end of May this year, after the company was bailed out by the US Treasury to keep it alive.
It’s been a bad week for AIG who failed to complete the sale of their Asian division AIA to the man from the Pru, as the Treasury ‘overvalued’ the operation at 24.5 billion.
It might not be such a big deal for Aon either who have reportedly paid 80 million to be in the Red and announced at the time that they shared a desire for excellence and winning, based on tradition, integrity, teamwork and success. Read the rest of this entry »
Who really calls the shots – The Government or Big Business when it comes to setting the direction and flow of the future economy?
You don’t need to look much further than the Insurance Industry to see that new forces are in play in a new world economy, driven perhaps by Government steering rather than a cyclical wave of uncertainty created by the money markets who are ultimately the owners, underwriters and profiteers of the multi national corporations.
The Insurance Industry which is at the top of the triangle of the money market distribution, is renowned for it’s slow reaction to change. Read the rest of this entry »