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Having already been honoured on multiple occasions in the past as “Reinsurance Company of the Year”, Hannover Re has now been crowned “Life Reinsurance Company of the Year” for the first time. The prestigious international trade journal “The Review” thereby recognised the achievements of Hannover Re in the field of life reinsurance in recent years. The world’s fourth-largest reinsurer concentrates its activities in the life sector under the “Hannover Life Re” brand.

Hannover Re considers life and health reinsurance to be the business group with the most significant long-term growth potential. “We generated an all-time record result in 2009 and prospects for the current year are again favourable. The momentum of our business model remains undiminished”, Dr. Wolf Becke, Chief Executive Officer of Hannover Life Re, emphasised.

Hannover Life Re marked a milestone in 2009 with its acquisition of the US ING life reinsurance portfolio. “This transaction enabled us to substantially grow our US life business”, Mr. Becke noted. The acquisition generates a premium volume of more than USD 1 billion per year. For more than ten years now Hannover Life Re has also been a pioneer in the transfer of life insurance risks to the capital market, exemplified most recently by its placement of the “L7” portfolio of life and annuity business at the end of 2008.

Source : Hannover Re news release

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Friends Provident has launched a new absence tracking system aimed at helping employers monitor absence trends and calculate how much employee absence is costing them.

With recent figures showing the spiraling cost of absence to the UK economy, this new system enables employers to monitor absence rates through reporting tools which evaluate absence by department, reason and days of the week.  The tools also include a cost of absence calculator.

The CBI/Pfizer Absence and Workplace Health survey estimated a total of 180 million sick days were taken in 2009 which cost the UK economy £16.8bn.

Declan White, group risk marketing manager comments:

“It’s no secret that long term absenteeism is both a growing concern and cost to today’s employers.  This new tracker tool will be of tremendous value in helping employers understand top causes of absence within their business and the costs associated with them. The flexible nature of the tool allows companies to share information with managers and employees to ensure a better all round understanding of absenteeism.  This will ultimately help foster a greater appreciation of how absenteeism impacts the commercial edge of the business.”

The flexible nature of the system means it can work alongside employer’s existing absence management arrangements and can be customised to suit their individual needs. The new support system, free to all new and existing group income protection policyholders, is the latest enhancement to the employer assistance programme which Friends Provident launched in June.

The services are provided by Workplace Options, a leading provider of employee assistance programmes and integrated work-life services both in the UK and across the globe.

Source : Friends Provident News Release

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Rising car insurance prices and strong demand for specialist annuities created a surge in British mutual insurer LV= sales. LV=, formerly Liverpool Victoria, had life insurance sales of 63.5 million pounds ($97.6 million) in the first six months of 2010, an increase of 40 % compared to 2009, while general insurance sales rose 37 percent to 546.4 million pounds.

The company is one of Britain’s largest customer-owned financial services groups whose main UK rivals include fellow mutually owned Royal London as well as Aviva, RSA, Prudential and Legal & General. The company added that profit also rose but did not disclose figures. Chief Executive Mike Rogers said the society was strongly capitalised, but said he kept an open mind about whether surrendering its mutual status or merging with a rival would make it more resilient.

“If we ever concluded that it would be better for the policyholders to seek some form of capital injection or other ownership structure then we would do what was right for them at the time,” he said.

Earlier in the year a possible tie-up was discussed between LV=  and fellow mutual insurer Royal Liver. In 2013 new capital rules for European insurers will come into force and smaller players will be under pressure to join forces. LV= said its life division benefited from numerous demand for enhanced annuities, which offer higher returns to fragile policy holders. Britain’s enhanced annuity market grew 41% in the first half of the year according to consultants. The increase in general insurance sales was fuelled in part by higher motor insurance premiums, reflecting an industry-wide surge in prices as insurers seek to offset a sharp rise in claims expenses.

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Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today announces the launch of an application for its proprietary facultative placement platform, FAConnect. In response to client demand, the new App will be available shortly, both in Apple’s App Store for use across a range of Apple products – including the iPod touch, iPad, and iPhone – and also in BlackBerry’s App World.

Launching an App widens the distribution channel for FAConnect and increases its potential user base. The App will also provide enhanced access for FAConnect’s 350 current users. FAConnect, which was launched around 10 months ago, allows ceding companies to connect directly with reinsurance markets, enabling them to quote and bind their facultative risk placements in under five minutes. The platform, which currently accommodates 13 product lines, can still be accessed from any internet-enabled device, but the App allows clients and markets to trade away from a desktop or laptop computer.

Elliot Richardson, CEO of Aon Benfield Fac, the facultative division of Aon Benfield, said: “The launch of an App for FAConnect is another world first for Aon Benfield. It is designed to give our clients immediate access to the dynamic and fast-trading facultative market, where a rapid response time is essential.  Our clients can now utilize an array of products on the move, and the App also assists their Aon Benfield broker to respond to any queries they may have about their transactions. In being the first to market with a dedicated App, Aon Benfield is proud to lead the way in pushing the limits of technology to better serve our clients.”

Dawnmarie Black, Head of Global Products for Aon Benfield Fac, added: “With this App we will continue to lead the charge and push the boundaries to make facultative buying and underwriting as efficient as possible whilst still using the incredible human capital that is essential to this business.”

Source : AON Benfeild Press Release

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Insurance Australia Group says it is too early to determine the extent of damage after the quake in Christchurch. The insurer said it is focussed on assisting customers affected by the event. The group said it expects claim costs from the event to be entirely covered by its reinsurance arrangements. Subject to the damage caused by the Christchurch earthquake, the loss from a subsequent major event this calendar year would be capped at a maximum of $175m.

IAG managing director and chief executive Michael Wilkins said the group’s New Zealand businesses, State and NZI, had mobilised resources to meet customers’ needs. “As with all such events, our priority is our customers and so far we’ve responded to more than 2000 calls,” Mr Wilkins said.

“At this stage it is too early to determine the extent of damage to our customers’ property, however, we expect it is likely to be significant. The entire event will be covered by their reinsurance arrangements.

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Canada’s fourth-biggest insurer Industrial Alliance Insurance and Financial Services Inc. said Friday it has acquired the life insurance policies of California-based Golden State Mutual for US$11 million. The transaction was carried out through Quebec-based Industrial’s wholly owned U.S. subsidiary, IA American Life Insurance Co., based in Scottsdale, Arizona.

The Golden State block of business involves 120,000 life policies with a face amount of almost US$500 million. For the year ended Dec. 31, 2009, total premiums amounted to US$9 million and invested assets were US$70 million, according to Industrial Alliance’s news release on Friday.

“The acquisition, which will not bring additional goodwill to the balance sheet, is expected to generate a return on shareholders’ equity consistent with the company’s target guidance of 12 to 14 per cent,” the Quebec company said.

Golden State Mutual was formerly the largest minority owned life insurance company in California, providing traditional life insurance products to mid-market customers in 17 states. GSM was placed into conservation on Sept. 30, 2009, when its capital position dropped below California minimum law requirements.

Industrial Alliance employs more than 3,500 people and manages some C$60 billion (€45 bn) in assets, offers a wide range of life and health insurance products. It ranks behind Manulife Financial, Great-West Lifeco and Sun Life Financial among Canada’s largest life insurers. The company’s stock was up 89 cents at $31.95 at midday Friday on the Toronto Stock Exchange.

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An earth quake of a 7.1 magnitude hit New Zealand’s second biggest city keeping it running slow this Monday.   Many businesses in the South Island city of Christchurch remain closed as a state of emergency was extended until Wednesday after the country’s most damaging earthquake in 80 years tore up roads, smashed water and sewers and severely damaged many buildings. Financial markets have mostly shrugged off the quake as the long-term economic impact is seen limited.

New Zealand’s dollar eased slightly while government debt fell on fears of increased bond issuance but stocks were higher as the estimated NZ$2 billion (£936 m / €1.1bn) damage bill was seen relatively light and could not derail a rally fuelled from overseas markets.

Economists predicted the quake could eat into New Zealand’s economic growth this year and keep interest rates on hold until there is more clarity on the impact. “Overall there will be a negative impact on economic activity, with Christchurch accounting for about 15 percent of GDP,” ANZ-National Bank senior economist Khoon Goh said. HE added that the exact impact could not be quantified yet and that the Reserve Bank of New Zealand will most likely be on hold in September.

But some predicted the quake, which claimed no lives and resulted in only two serious injuries, could add to growth in 2011 as rebuilding efforts ramp up.

“We’ve got to move to the rebuilding and refocusing stages, how we get Christchurch up and running again,” said Prime Minister John Key on Television New Zealand.

Shares of New Zealand’s largest listed company, construction and building materials firm Fletcher Building Ltd jumped more than 4 percent on opening and last traded up 4.5 percent NZ$8.10. Insurance and financial company AMP Ltd fell 4.6 percent in early trade to NZ$6.30. The government’s state-disaster fund, the Earthquake Commission, is expected to be able to cover the damage repairing costs. The epicentre of the quake was 20 kilometres (12 miles) west of Christchurch (population of 350,000) which supports the agricultural-based economy of New Zealand’s South Island.

The Christchurch City Council estimates that 500 buildings have been damaged, with hundreds spending the first two nights in emergency shelters. It is the most damaging quake in New Zealand since the North Island city of Napier was devastated in 1931. The last fatal quake was in 1968, a magnitude of 7.1 that caused the death of three people on the South Island’s West Coast.

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An agreement will be reached by the European Union that will lead to the creation of a new pan-EU supervisory authority which will oversee controls on banks and insurers.

It is hoped that the deal, which must still be approved by European finance ministers and the European Parliament, will help stop a repeat of the financial crisis in which loose supervision of companies was blamed for contributing to problems.

The agreement will also lead to the creation of a European Systemic Risk Board (ESRB) with the task to look out for threats to Europe’s economy from the financial sector. If the agreement is ratified, the new agencies should be launched in January 2011.

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The ESRB will be responsible for macro-prudential oversight of the EU’s financial system to prevent or lessen systemic risks, avoid situations of widespread financial distress, and ensure that the financial sector contributes to the development of the real economy and to growth.  Its objectives will be to tackle the fragmentation problem due to nationally based risk analysis, improve early warning mechanisms and translate risk assessments into action by the competent authorities.

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Presidential Life has named Duncan Szeto as the new chief actuary of its operating subsidiary, Presidential Life Insurance Company. Mr Szeto replaces Jerrold Scher. He joined Presidential Life in 2007 as vice president of financial modeling.

Prior to joining Presidential Life, Mr Szeto served in various actuarial roles at MetLife, Inviva and Prudential Financial. He also has several years of actuarial consulting and audit firm experience.

Donald Barnes, vice chairman of the board, CEO and president of Presidential Life, said: “Duncan’s actuarial expertise and leadership skills will be a valuable asset to the insurance company in 2010 and beyond.

“I am confident that Duncan will further complement the work of our leadership team in executing against our three-year strategic plan, particularly in our efforts to diversify our product portfolio, along with prudently managing our investment portfolio and strengthening our balance sheet.”

Source : Insurance News Net

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Auto insurance companies cover you and your passengers in the event of an accident. But it is up to you to decide the level of cover you will get. Will the damages to your property be covered by the company? Will all the passengers be covered or only your family? What if your child was driving your car?  What questions should you ask your auto insurance company when it comes to auto insurance?

Liability insurance or third party insurance is generally the lowest form of insurance offered by an auto insurance company. This is the basic insurance, if you are involved in an accident, and it is proven to be your fault, the auto insurance company will pay damages to the other party. The cover offered by the auto insurance company is usually set beforehand. These are the maximum amounts the auto insurance company will pay in case of an accident. You need to confirm with your auto insurance company what they will cover and what the limits are. You might be offered a very low premium by some auto insurance company only to realize that your cover is minimal and unrealistic.

An auto insurance company will also offer you a comprehensive insurance. In simple terms it means that if you are responsible for a collision, the insurance company will pay for the repair of the vehicle.

But it is not so simple; an auto insurance company will almost always have the final say on what amount will be paid out, so if it is cheaper to give you market value for the car, then they will. You must make sure that the insurance company is not in control of the market value of the car.

As with the third party insurance, the auto insurance company will almost certainly limit the amount that will be paid out, but in general terms, a comprehensive insurance will have higher limits.

A recreation vehicle needs its own insurance, a Recreation vehicle insurance is not the same as auto insurance. You should not assume that because your car is comprehensively insured, so is your recreation vehicle.

Medical (MedPay), Persona Injury protection (PIP) and no fault cover insurance will cover you and your passengers’ medical expenses in the event of a collision. The no fault cover means that the auto insurance company will pay regardless of who is at fault. This gives you the peace of mind that, at the very least, your family and friends are covered. PIP is often a minimum requirement in some countries; ask your auto insurance company what the requirements are.

Uninsured/Underinsured motorists’ coverage, also sometimes a minimum requirement will cover you if the person at fault is not insured or is underinsured. You must ask your auto insurance company what you will be charged in case of such a situation. Normally the auto insurance company should not charge you some extra premiums.

Most countries will require a certain level of cover, from full comprehensive car insurance to third party auto insurance. In most cases it is up to you, the driver, to ensure that your auto insurance company offers you the minimum required. In most cases the insurance company is under no obligation to instruct you of the requirements.

But of course, a good auto insurance company will, (should?), try its outmost to advise you on the best deal for you.

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Security Mutual Life Insurance Company of New York has added features to its two Whole Life products making them more efficient as personal financing tools. The new features are particularly useful to life insurance planners who embrace the Infinite Banking, Be Your Own Banker and Bank on Yourself concepts. Planners can now combine a new Flexible Paid Up Additions Rider (PUAR) with a new Level Term Rider to create higher early cash values, which in turn can be accessed through favorable policy loan provisions. Security Mutual’s illustration software allows the life insurance planner to illustrate loans and the repayment schedules.

“Whole life sales are up at Security Mutual in part because of the strong cash value guarantees that come with whole life products,” according to George Kozol, Security Mutual’s Senior Marketing Officer. “Many consumers and business owners are attracted to the loan provisions that come with whole life products. Consumers can use life insurance loans to finance major items, such as auto purchases, college educations and weddings for their children and business owners can turn to life insurance loans to finance equipment purchases and to expand facilities.”

The cash value guarantees that come with whole life products make these financing options possible. “Life insurance advisors who subscribe to Infinite Banking, Be Your Own Banker and Bank on Yourself favor whole life products over other cash value products, such as Indexed or Variable Life, because of the guaranteed cash values and favorable loan provisions that come with Whole Life products,” said Kozol.

About Security Mutual Life Insurance Company of New York: Security Mutual’s mission is based on the same values upon which the company was founded in 1886—to provide sound, equitable and competitive financial protection against the financial hazards resulting from disability, retirement or premature death. Today Security Mutual is one of the leading mutual life insurance companies in the United States, with more than $2 billion in assets and more than $30 billion of life insurance in force. The company’s sound financials, high-quality asset portfolio and competitive position have been recognized by A.M. Best Company, the largest and longest established company devoted to issuing financial strength ratings about insurance organizations. Security Mutual is rated “A- (Excellent)”; (fourth highest on a 15-step rating scale) by A.M. Best.

A medium-sized company, Security Mutual enjoys the advantages of flexibility and responsiveness, both in the development of new products and in its relationships with its clients and field associates. The company employs more than 300 employees at its home office in Binghamton, New York, and distributes its products through a network of more than 5,000 independent agents located throughout the United States. Security Mutual is licensed in all 50 states, as well as in the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Source : Newswire

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Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today releases its latest Monthly Cat Recap report, which provides an analysis of global natural perils in August.

Published by the Impact Forecasting team, Aon Benfield’s catastrophe model development center of excellence, the report reveals that the month was dominated by historic floods in Pakistan destroying over 1.25 million homes, a massive landslide in China that killed at least 1,467 people and tropical storm activity in the Atlantic and the Western Pacific.

In the Americas, Hurricane Frank developed off the southern Mexico coastline and brought heavy rains and gusty winds, impacting at least 30,000 people, while Hurricane Earl developed in the Atlantic Ocean and affected parts of the northern Leeward Islands while glancing Puerto Rico. At least 187,000 people lost electricity and another 60,000 people were without water.

An active rainy season triggered widespread flooding and landslides in Nicaragua, leading to the deaths of at least 37 people and affecting 4,300 homes.  Also, over 25,000 wildfires blazed across parts of Bolivia during the month, which were ignited by residents who burned large tracts of land to increase areas of cultivation. The fires charred more than 1.5 million hectares (3.7 million acres) of land and forced the closure of 28 of the nation’s 39 airports due to reduced visibility.

In Europe, wildfires and peat bog fires continued to burn across parts of Russia during the first half of the month as the death toll reached 52. The fires damaged at least 3,000 homes, buildings and vehicles as economists noted that total economic losses could reach RUB448 billion (USD15 billion). Also, widespread flooding affected parts of Central Europe when at least 15 people were killed in the Czech Republic, Poland, Germany and Lithuania after consecutive days of heavy rainfall and strong thunderstorms.

In Asia, monsoonal rains continued to fall in Pakistan which led to additional flash flooding and landslides. At least 1,677 people were killed as an additional 2,605 were injured. In what was described as the worst flooding in Pakistan’s history, at least 1.25 million homes were damaged or destroyed and over 6.9 million hectares (17 million acres) of crop lands were submerged. Preliminary economic loss and reconstruction costs could approach PKR1.73 trillion (USD20 billion).  Monsoonal rains also destroyed at least 3,000 homes in Indonesia, 10,000 homes in Indian-held Kashmir and triggered a large mudslide in northern India killing 18 children.

In China, heavy rains across several sections of the country led to fresh rounds of flash flooding and landslides. Floods during the month in Gansu, Sichuan, Shaanxi and Yunnan provinces left at least 829 people dead along with damage to nearly 800,000 homes and over four million hectares (9.8 million acres) of cropland. Total economic losses were estimated at CNY108 billion (USD16.02 billion). The torrential rains also led to a series of massive landslides in northwest China’s Gansu Province that left at least 1,467 people dead, 2,000 injured and another 298 missing.

Tropical Storm Dianmu crossed the Philippines before making a final landfall in South Korea, destroying at least 3,000 homes and more than 159,000 hectares (393,000 acres) of farmland, while Tropical Storm Mindulle hit Vietnam, killing at least 10 people and injuring 64 more.

Steve Jakubowski, President of Impact Forecasting, said: “The historic floods in Pakistan and the continued flooding and landslides in China show the devastating consequences of an active monsoon season. We are also beginning to see the forecasted heightened tropical activity in the Atlantic Ocean, which will continue to be an area of focus as we approach the most active portion of the Atlantic hurricane season. With an active 2010 in terms of natural catastrophes, insurers and reinsurers need to continue to rely on catastrophe modeling to further enhance their understanding of natural catastrophe risks.”

Source : Aon Press Release

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The life insurance industry has gotten more competitive than ever before. There are all sorts of policies to choose from, and you can get a policy that suits your needs. To get the best deal, get quotes from as many different insurance companies as possible.

Thanks to the internet, you can easily access different quotes in little time from the comfort of your home or office. Always take the time to compare the features of each quote before making your final decision. Do not feel obligated to settle for any insurance company just because they have given you a quote. Insurance companies will ask for details such as your age, gender, height, health status, level of income and other such. Always provide only accurate information because this is what determines the kind of quote you get. It is only by comparing life insurance quotes from different insurance companies that you can know what the best deal is. It takes only a little of your time and rewards you with an appropriate plan for your needs.

Source : Official Wire

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A MetLife study has found that a gender gap in life insurance coverage exists between working, married men and women with children under the age of 18. According to findings released today from MetLife’s 8th Annual Study of Employee Benefits Trends, married men with minor children have, on average, five times their annual household income in life insurance coverage – if they have coverage at all. However, married women with minor children have, on average, only three times their annual household income in coverage. This gender gap is noteworthy as both men and women express equal concern about the financial impact of their pre-mature death on their families – six out of ten fathers and mothers say they are very concerned.

“Life insurance can help provide a family with substantial peace of mind. It is important to not only have coverage, but to make sure that coverage amounts are adequate. That is why it’s concerning to see the income of working mothers is not as adequately protected as that of their male counterparts,” says Bill Raczko, senior vice president, U.S. Business, MetLife.

“Many people overlook some important expenses that life insurance can help cover. For example, the death of a working parent may not only terminate an income source but also a family’s source of health insurance, tuition assistance, and other financial benefits. It can be helpful to consult with a life insurance professional to get the right amount of insurance, but the study found that only half as many mothers as fathers consult with anyone about their personal financial matters,” adds Steven Weisbart, Ph.D., CLU, senior vice president and chief economist, Insurance Information Institute.

Employers Can Help

Working, married women with children under the age of 18 are almost half as likely as working fathers to say their employers’ benefits communications effectively educate them on their options – 26% of mothers compared to 48% of fathers.

“Employers can improve their group life insurance benefits programs through three things: evaluation, enhancement, and employee education,” adds Raczko. “Year after year, MetLife’s Annual Employee Benefits Trends Study shows a strong correlation between effective benefits communications, improved benefits satisfaction and improved job satisfaction.”

The study also found that only 38% of married women with dependent children, compared to 56% of their male counterparts, are currently very satisfied with their workplace benefits.

Tips to Consider

Raczko offers the following tips for individuals to consider when evaluating their life insurance needs:

  • Start at the Workplace: Many employers offer a group life program. Even if employees have to pay some or all of the premium themselves, obtaining coverage in the workplace has the advantages of group rates, limited or no medical underwriting, convenient payroll deduction and ease of enrollment.
  • Supplement: Many employers allow their employees to purchase supplemental life insurance coverage at competitive group rates during the fall open enrollment season and often at additional times of the year. In addition to purchasing life insurance at work, individuals should also consider working with a financial advisor that can help them further understand the importance of both group and individual life insurance as part of their overall financial plan. MetLife’s Life Insurance Needs Calculator (www.metlife.com/straightstory) makes it easy for individuals to learn about the right amount of life insurance for their family’s needs based on their personal situations.
  • Discuss with Your Spouse/Partner: Individuals should not only consider their own coverage needs, but also those of their spouse/partner.

Methodology

The 8th Annual MetLife Study of Employee Benefits Trends was conducted during the fourth quarter of 2009 and was fielded by GfK Custom Research North America. The employee sample comprised 1,305 interviews with full-time employees age 21 and over, at companies with a minimum of two employees, including 382 married men and women with children under the age of 18.

Source : Insurance News Net

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Allianz announced the appointment of Mark Carlyon-Smith as manager for the Company’s Woking claims handling centre.

Mark joined Allianz in 1990 and has held a variety of roles working in both personal injury and motor claims departments, most recently as claims manager for schemes business.

In his new role, Mark will be setting, monitoring and delivering the centre’s business plan and budget and delivering cost-effective and competitive claims settlements.

Mark said: “I am looking forward to continuing the strong customer focus within this centre and the department as a whole. We aim to be responsive to every customer and give them an effective and fair service – it is important to maintain the strong reputation that Allianz has built up.”

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Michel Montignac, author of worldwide bestsellers on weight loss in the 1980s and 1990s, has died aged 66, French officials said Thursday.

Montignac, who died last weekend, developed a crash diet based on never eating “bad” carbohydrates at the same time as fats after suffering from obesity himself as a child and battling persistent weight gain.

After testing the principle of disassociating the two on himself, losing 30 pounds (13.6 kilogrammes) in less than three months, he wrote “Dine Out and Lose Weight” in 1986, a book that shot to the top of the best-seller list in France where it sold half a million copies.

The following year he released his most well-known book “Eat Yourself Slim and Stay Slim”, which sold millions of copies in 40 countries, according to his website.

His weight-loss recipe classifies carbohydrate-rich foods according to a glycemic index (GI), based on their effect on blood glucose levels after meals. “Bad” high-GI carbs may not be taken together with fats as Montignac believed these combinations would lead to fats in the food being stored as body fat.

France’s latest diet guru is Pierre Dukan, whose slimming plan that kicks off with a “protein only” attack phase is selling by the armload in bookshops.

Paris, Aug 26, 2010 (AFP)

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People in London are the most likely in the UK to make a claim for theft on their home insurance policy, despite a Manchester postcode taking the top spot for the area where the highest proportion of theft claims are made, research from moneysupermarket.com found.

Chorlton-Cum-Hardy, Manchester, tops the postcode chart
London claims half of the top 20 postcodes

Britain’s number one comparison site analysed over 1.1 million home insurance enquiries made on the site in 2009 and found London held ten of the top 20 postcode districts most likely to have made a claim for theft, an increase of 100 per cent on the previous year. Close behind are Manchester, Leeds and Bristol, each of which have two postcode districts in the top 20. The research revealed Chorlton-Cum-Hardy, the suburban area of the city of Manchester (M21) takes the top spot overall in the UK, while Blackheath (SE3) and Hammersmith (W6) are the most ‘at-risk’ postcode districts in London for theft-related insurance claims. Other postcode districts with a high chance of claiming for theft and burglary include Finsbury Park in London (N4) as well as the affluent suburb of Roundhay in Leeds (LS8).*

Julie Owens, head of home insurance at moneysupermarket.com said: “Home is where the heart is and there’s no denying that having it burgled is an emotional and frightening experience. Major cities, like London and Manchester, and affluent areas are a target for criminals and the research highlights a broad mix of areas across the north and south of the UK so it is clear that no matter where you live, there is always a risk your home could become a victim of theft and it is therefore vital you have adequate home insurance cover in place, something many people still do not do.

“Properties classified as being in a ‘high-risk’ area – whether that be for crime, or something like flooding or subsidence for example, could affect the price of your insurance premiums. Unfortunately there is no escaping this and to make matters more complicated, there are no hard and fast rules which apply. Most insurers have a blanket approach when it comes to assessing postcode districts for home insurance premiums. This really needs to change; if houses are evaluated on a case by case basis it would mean homeowners received quotes at the best possible prices for their individual circumstances.

“With recent statistics reporting that last summer insurers handled almost 80,000 domestic burglary claims paying out £84 million,** homeowners need to be extra vigilant when it comes to security. You never know when an opportunistic thief may strike, so it’s crucial you ensure home contents insurance is fully up to date, and is at a high enough level to cover all belongings sufficiently.”

The 20 UK postcode districts most likely to claim for theft on their home insurance:

Results based on 1.13 million home insurance quotes on moneysupermarket.com for twelve months (full year 2009)
Percentage related to households affected by theft or burglary in that postcode district

moneysupermarket.com’s top tips to keep your home safe from thieves

Keep all items of value away from windows and out of sight from opportunistic thieves
Ensure you lock all windows and doors before leaving the house
Regularly check the state of your locks, and where necessary replace older, weaker ones with new locks. Five-lever mortise locks are recommended for external doors while windows should ideally have two bolt locks.
Don’t leave high value items lying around the house, lock them away safely
Install a good home security system
When leaving the house for a lengthy period of time, put a timer on your light switches to give the impression that you are at home.
If you are away, remember to cancel newspaper and milk deliveries and ask someone you can trust to open and close the curtains and collect mail.
Don’t leave keys in obvious places such as under a doormat. Also beware of ‘hook n crook’ thefts – where keys are left so close to a door that a burglar can simply hook them through a letterbox and open the door.
Install security lighting – illuminate your visitors for their safety as well as your own. Unwelcome visitors are less likely to loiter if they’re ‘in the spotlight’.

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Inequalities in early deaths between different parts of Britain have nearly surpassed those seen shortly before the economic crash of 1929 and the ensuing depression, a new study said Friday.

“Inequalities continued to rise steadily during the first decade of the 21st century… and could become worse,” warned the study, published in the British Medical Journal’s online edition.

The study said the divide had “persisted over many years and recent government efforts to reduce them have not had any great impact as yet. “The gap in health inequalities has widened over the past 10 years, reflecting widening inequality in wealth and income,” it added.

Researchers from the universities of Sheffield and Bristol built on previous studies of socioeconomic differences in mortality, using updated population estimates and a new more, accurate way of measuring poverty.

They analysed mortality data for England, Wales and Scotland using statistics for the entire population aged under 75 from 1990 to 2007 and the whole population under 65 from 1921-39, 1950-53, 1959-63, 1969-73 and 1981-2007.

The study found that “geographical inequalities in age-sex standardised rates of mortality below age 75 have increased every two years from 1990-1 to 2006-7 without exception.”

The poorest people were 1.6 times more likely to die prematurely than the most affluent people in 1990-1. But by 2006-7, the worst off people were twice as likely to die before the richest. And despite a small reduction in inequalities around 2001, the trend was short-lived and inequalities for people up to 75 years old are now the highest ever reported since at least 1990.

“Although life expectancy for all people is increasing, the gap between the best and worst districts is continuing to increase,” the researchers concluded. “The economic crash of 2008 might precede even greater inequalities in mortality between areas in Britain.”

Paris, July 23, 2010 (AFP)

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A “Robin Hood” tax of just a fraction of a percent on financial transactions could smash the funding crisis gripping the war on AIDS, activists said at the world AIDS forum here on Wednesday.

“Robin Hood taxes are the answer to the question that everyone at this conference has been asking, which is: ‘How can we keep financing a great scale-up in services against HIV/AIDS?’,” Khalil Elouardighi of Coalition PLUS, a group of anti-AIDS organisations, told journalists.

A micro-tax of just 0.005 percent on all financial transactions would raise some 33 billion dollars (25.75 billion euros) per year worldwide, he said. “It acts like an invisible micro withdrawal. Knowing that 97 percent of transactions are of a speculative nature, there will be no consequence on the real economy,” noted Philippe Douste-Blazy, UN under secretary general for innovative financing for development.

The time was right to push for the tax, ahead of a summit on Millennium Development Goals in September and a G20 meeting in November, campaigners said. “It is up to us to explain to the heads of state that they do not have any other solution because we know that it only depends on political will,” said Douste-Blazy, a former French foreign minister.

The tax was technically feasible but the key was now to make sure the money was used for development, rather than to reimburse state debt or rescue banks, he said.

His own organisation, UNITAID, has blazed the trail with a small tax on airline tickets, implemented by France and 11 other countries, that has provided drugs to prevent HIV infections from mothers to their babies. “Global commitments, particularly around HIV, are really first in line when it comes to what the right beneficiaries would be for that financial transaction tax,” Asia Russell of the US advocacy group HealthGAP noted.

The Robin Hood tax would not make countries any less subject to aid contributions however, warned Christoph Benn of the Global Fund to fight AIDS, Tuberculosis and Malaria. “We are not taking away any pressure from governments to provide additional resources from their development budgets: that is a given, that is our first request, that they increase their contributions.”

The Global Fund is seeking 17 billion dollars in pledges from 2011 to 2013.

Funding by rich economies for poor countries fighting HIV/AIDS fell back slightly last year, to 7.6 billion dollars after 7.7 billion dollars in 2008, as a result of the economic recession, according to an analysis issued in Vienna by the Kaiser Family Foundation and UNAIDS.

The decline brought to a close six successive years of double digit increases. In 2002 funding for anti-HIV drugs and other initiatives was a mere 1.2 billion.

The report said that for poorer countries — “low- and middle-income” economies — 23.6 billion dollars was needed from all sources for 2009. The gap in funding last year was 7.7 billion dollars.

For 2010, 25 billion dollars has to be mustered for fighting AIDS in poorer countries, according to a previous UNAIDS estimate. So far, there is a funding shortfall of 11.3 billion, according to an analysis published this month in the US journal Science.

The 18th International AIDS Conference ends on Friday after six days.

Vienna, July 21, 2010 (AFP)

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