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Chelmsford Diocese has topped the league for the worst-hit places in the UK for theft of lead and other valuable metals from churches, according to leading church insurer Ecclesiastical.

Churches in the diocese of Chelmsford made over 90 claims to Ecclesiastical for theft of metal in 2011.

The dioceses of Lincoln and Lichfield were the second and third worst affected, both with over 80 claims. London and Southwell dioceses were in fourth and fifth positions respectively.

Overall, 2011 has become the worst year on record for the number of theft of metal claims from churches with the number of claims exceeding 2,500 by the end of the year, surpassing the previous worst figure of more than 2,400 in 2008.

The figures come as a new national survey by Ecclesiastical revealed that almost half of the UK’s population (49%) is ‘appalled that someone can steal lead from a church’, while a further 37% are ‘saddened’ by the crime.

Ecclesiastical’s survey also showed overwhelming support from the public for a toughening up of the laws on metal theft. Two-thirds (67%) of UK adults ‘strongly support’ changes to the law that would make it harder for criminals to sell stolen lead and other metals to scrap dealers. A further 23% would ‘tend to support’ such legislative changes.

Half of the public (50%) would ‘strongly support’ tougher sentencing for criminals convicted of stealing metal from churches or other places of worship while a further 29% would ‘tend to support’ such measures.

18% of UK adults say that metal theft has had a direct impact on their employment or personal lives in terms of its effect on transport, energy networks and farming since 2007.

John Coates, Ecclesiastical’s Direct Insurance Services Director, said:

“2011 has been a very tough year with incidents of metal theft from churches becoming virtually endemic. If there is any light at the end of the tunnel, it’s the groundswell of public awareness of the problem this year and the growing sense of outrage.

 “Our survey shows that the public does not want this state of affairs to continue and will support action to crack down on metal thieves and the methods they use to gain money for their stolen goods. We believe it’s important that the government takes note of this mood and takes immediate action to tighten up the law, particularly the Scrap Metal Dealers Act of 1964.”

In addition to promoting the use of the forensic liquid SmartWater among its customers, Ecclesiastical has successfully trialled and piloted the use of roof alarms in churches that have been targeted by metal thieves repeatedly. As a result of the trial, Ecclesiastical will now soon be launching a new anti-metal theft campaign which promotes a wider use of roof alarms in churches to deter criminals and reduce metal theft across the country.

Last year, the diocese of Manchester topped Ecclesiastical’s list of most church metal thefts with over 90 claims.

Worst hit dioceses in 2011* Worst hit dioceses in 2010
1.    Chelmsford Manchester
2.    Lincoln Lincoln
3.    Lichfield Chelmsford
4.    London Southwark
5.    Southwell Oxford

The national survey of 2,058 UK adults was conducted for Ecclesiastical by independent research company YouGov from 13-15 December 2011.

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Around the corner from Kensington Palace, Campden Hill Square in the heart of fashionable Holland Park is Britain’s most expensive residential street ­with an average price of £4,863,000, according to latest research from Lloyds TSB.

Such is the pull of living in Kensington and Chelsea that seven streets in the Royal Borough are in the list of the ten most expensive in the country.  These include Drayton Gardens (with an average price of £4,428,000), Dawson Place (£3,891,000), Duchess of Bedfords Walk (£3,862,000) and Cadogan Square (£3,678,000).

Parkside, the most expensive street in last year’s survey, is the second most expensive this year with an average price of £4,826,000. Parkside is one of two streets in Merton in South West London amongst the ten priciest; the other being Cedar Park Gardens (£3,596,000). [See Table 1]

Outside London

The most expensive streets away from the capital are mainly in the Home Counties. Properties on Leys Road in Leatherhead have an average price of £3,108,000 – the highest outside London. Other expensive streets outside Greater London include Moles Hill in Leatherhead (£2,608,000), Nuns Walk in Virginia Water (£2,574,000) and both Phillippines Shaw (£2,352,000) and  Wildernesse Avenue (£2,293,000) in Sevenoaks.

Brundenell Avenue in Sandbanks in Dorset has an average house price of £2,024,000 and is the most expensive street outside London and the South East. Sandbanks is well known for commanding premium property prices, with Chaddesley Glen (£1,443,000), Crichel Mount Road (£1,415,000), Elms Avenue (£1,366,000) and Bingham Avenue (£1,310,000) all having an average price above £1 million.

Beyond the South

Outside southern England the most expensive street is Withinlee Road in Prestbury near Macclesfield – where the average house price stands at £1,649,000. Withinlee Road – favoured by footballers – is followed by Macclesfield Road in Alderley Edge (£1,320,000) and Torkington Road (£1,285,000) in Wilmslow. Graham Park Road in Newcastle (£1,228,000) and Quarry Park Road in Stourbridge (£1,070,000) are also amongst the most expensive streets in northern England.

Suren Thiru, Economist at Lloyds TSB, comments:

“The largest concentration of expensive properties is in Kensington and Chelsea. This part of London has always had a glamorous reputation, attracting buyers from the business and entertainment world, and more recently the super-rich from across the world. The area clearly has its attractions with excellent schools, upmarket shops, close proximity to the capital’s business district and impressive properties. Other areas in the capital have similar qualities but property prices in Kensington and Chelsea tend to outperform the rest of London.

Outside London, the areas with the most expensive streets are generally located well away from central areas, where buyers are typically attracted by larger properties and more green space.”

REGIONAL Key Findings

East Anglia

The most expensive streets in East Anglia are concentrated in Cambridge. All are close to the main University area (particularly around the Botanic Gardens) in the CB2 and CB3 postal districts. The most expensive street is Sedley Taylor Road with an average house price of £ 1,111,000.

East Midlands

Valley Road in the Nottingham suburb of West Bridgford is the most expensive street in the East Midlands with an average price of £823,000. Unlike in other regions, the most expensive streets in the East Midlands are spread around the region in towns such as Northampton (Golf Lane, £795,000), Leicester (Swithland Lane, £675,000) and Belper (Hazelwood Road, £790,000).

North

Seven of the ten most expensive streets in the North are in Newcastle, with many of them in the Jesmond and Gosforth areas. Graham Park Road is the most expensive with an average price of £1,228,000, followed by Oakfield Road (£896,000) and Darras Road (£750,000).

North West

The ten most expensive streets in the North West are all in areas south of Manchester. Withinlee Road in Prestbury is followed by Macclesfield Road in Alderley Edge (£1,320,000) and Torkington Road (£1,285,000) in Wilmslow.

South East

Five of the ten most expensive streets in the South East are in Surrey. Properties on Leys Road in Leatherhead have an average price of £3,108,000 – the highest outside London. Other expensive streets in the region include Moles Hill in Leatherhead (£2,608,000), Nuns Walk in Virginia Water (£2,574,000) and both Phillippines Shaw (£2,352,000) and  Wildernesse Avenue (£2,293,000) in Sevenoaks.

South West

Poole has six of the ten most expensive streets in the South West. Brundenell Avenue in Sandbanks in Dorset has an average house price of £2,024,000 and is the most expensive street outside of London and the South East. Sandbanks is well known for commanding premium property prices, with Chaddesley Glen (£1,443,000), Crichel Mount Road (£1,415,000), Elms Avenue (£1,366,000) and Bingham Avenue (£1,310,000) all having an average price above £1 million.

West Midlands

Four of the ten most expensive streets in the West Midlands are in Solihull. The most expensive streets are Quarry Park Road in Solihull (£1,070,000), Rosemary Hill Road in Sutton Coldfield (£990,000) and Alderbrook Road in Solihull (£939,000).

Yorkshire and the Humber

The most expensive streets in Yorkshire and the Humber are all located in the area that makes up the “Golden Triangle” between Harrogate, Wetherby and north Leeds. The region’s most expensive street is Bracken Park in Scarcroft in Leeds with an average price of £934,000, followed by Wigton Lane in Leeds (£840,000) and Orchard Close in York (£800,000).

Wales

The most expensive street in Wales is Druidstone Road in Cardiff with an average house price of £685,000. Eight of the ten most expensive streets in the Principality are in Cardiff and Swansea; the remaining two are Gannock Road in Conwy (£677,000) and Glasllwch Lane in Gwent (£485,000).

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MORE TH>N is set to unveil its new MORE TH>N Freeman advertising campaign, ‘The Storyteller’, on 28 December 2011. 

Building on the award winning MORE TH>N Freeman campaign of 2011, ‘The Storyteller’ will see MORE TH>N Freeman recite a series of short stories handpicked from the “Book of MORE TH>N” which is a rich bible filled with everyday tales.  Each story will revolve around human experiences and will demonstrate MORE TH>N’s products and benefits.

The adverts will build on the reassurance, trust and integrity themes associated with MORE TH>N’s brand values and will come alive in a multi-media campaign which kicks off with 30, 20 and 10 second tv and radio executions as well as a host of digital and social media activity.

The new initiatives have been developed following extensive customer research.

Pete Markey, Chief Marketing Officer for MORE TH>N and RSA, commented: “The MORE TH>N Freeman campaign has been a huge success and has really broken the mould when it comes to insurance advertising.  We wanted to build on this success and have created an ad campaign that will reach the hearts and minds of people the length and breadth of the country.”

Commenting on his new ad, MORE TH>N Freeman said: “It’s almost a new year. With a new year comes change. Now change can be a scary thing, but without change we’d be left floating like a lemon peel. So this year, I have a new role…a more comfortable role, sat alongside the trusty Book of MORE TH>N. A classic book brimming with time-honoured tales of how the good folks at MORE TH>N move heaven and earth to solve the predicaments of the everyday. So sit back, turn on and tune in to the next chapter in the MORE TH>N Freeman saga. I’m MORE TH>N Freeman. Thank you for listening.”

Source : More Th>n

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The Government is announcing that it will take action to tackle excessive card surcharges that are opaque, misleading and prevent consumers getting a good deal.

 Following the Office of Fair Trading’s recommendations, the Government will:

– Ban excessive surcharges on all forms of payment, not just debit cards;

– Extend the ban across most retail sectors, not just transport; and

– Become the first European country to act by implementing forthcoming European legislation early to ban this practice before the end of 2012.

Businesses will not be able to load on excessive payment surcharges. But they will be able to add a small charge to cover their actual costs for using any particular form of payment

The Financial Secretary to the Treasury, Mark Hoban, said:

“We want consumers to be able to shop around. They have a right to understand the charges they may incur up front and not be hit through a hidden last minute payment surcharge. We’re leading the way in Europe by stopping this practice. The Government remains committed to helping consumers get a good deal in these difficult times.”

The Consumer Minister, Edward Davey, said:

“We want to make sure that consumers paying by card do not have to pay the excessively high surcharges being imposed on them by some airlines and other businesses. That is why we will consult on early implementation of the Consumer Rights Directive provision to protect consumers from excessively high credit and debit card charges.”

To take this forward, the Government will publish a consultation in the New Year setting out next steps.

Source : HM Treasury

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This Halifax First-Time Buyer Review tracks housing affordability in over 240 local authority districts (including 30 London boroughs) across the UK.  A local authority district (LAD) is classified as affordable if the average house price for a FTB is lower than the price someone on average earnings in the area can pay based on the historical average house price to income ratio of 4.0 (see Editors’ Notes for details). The calculation is based on a single income and is, therefore, conservative.  The review is based on data from the Halifax’s own extensive housing statistics database, along with data from the Council of Mortgage Lenders, the Office for National Statistics and the Department for Communities and Local Government. Halifax is the UK’s biggest provider of FTB mortgages.

Affordability for first-time buyers is at its most favourable level since 2003, according to the latest annual Halifax First-Time Buyer Review. The average house price paid by a first-time buyer in November 2011 was affordable for someone on average earnings – based on the ratio of the average house price to earnings being below the long-term average of 4.0 – in 44% of all local authority districts (LADs) in the UK; the highest proportion for eight years. This compares with 42% in 2010 and just 5% at the peak of the housing market in 2007.

But the North – South divide remains stark

Despite the overall improvement in affordability, there remains a strong north – south split. 95% of all the UK LADs that are affordable for first-time buyers (FTBs) are in the North1 compared with just 5% in the South2. 75% of areas in the North are affordable against only 5% in the South. All LADs in the North East are affordable for FTBs whereas in London there are no affordable areas for FTBs.

Nonetheless the number of FTBs continues to decline…

Notwithstanding better affordability, Halifax estimates that there were around 187,000 first-time buyers in 2011: the lowest annual total since records began (in 1974), 7% lower than in 2010 and less than half the recent peak of 402,800 in 2006.

…with the average deposit at £27,032

Much of the fall in the number of FTBs in recent years can be explained by the need to put down a bigger deposit. The average FTB deposit in the first eleven months of 2011 was £27,032.  Whilst this was 15% (£4,873) lower than in 2010 (£31,905), it compares with £17,482 in 2007.  As a proportion of the purchase price, the average deposit has increased from 10% in 2007 to 20% in 2011.

South Ayrshire is the most affordable area in the UK for a FTB

Seven of the ten most affordable LADs for a FTB are in Scotland. South Ayrshire is the most affordable LAD in the UK with an average property price that is just over two and a half times (2.65) gross average annual earnings. The next most affordable areas are Northumberland (2.86) and Renfrewshire (2.88). Peterborough in the East of England is the most affordable LAD in southern England (3.98).

Brent and Oxford are the UK’s least affordable LADs for FTBs

Nine of the 10 least affordable LADs are in the capital. The least affordable LAD surveyed for a FTB in the UK is Brent in London where the average FTB property price is over nine times (9.11) gross average earnings in the area. Oxford (7.75) is the second least affordable LAD. Herefordshire (5.03) is the least affordable LAD outside the south of England.

Over a third more FTBs will be required to pay stamp duty in 2012

95% of FTBs were exempt from paying stamp duty in 2011. Nearly four in ten FTBs did not pay any stamp duty as a consequence of the temporary increase in the starting threshold for FTBs from £125,000 to £250,000. On this basis, 38% more FTBs – and 43% in total – will be required to pay stamp duty once this concession for those trying to getting onto the property ladder for the first time ends in March 2012.

Martin Ellis, housing economist at Halifax, commented:

“Housing affordability for those looking to get onto the property ladder for the first time has improved significantly over recent years, largely as a consequence of the decline in house prices since 2007. Nevertheless, conditions for potential first-time buyers remain tough. Difficulties raising the necessary deposit and concerns over the economic climate are preventing many from entering the market.”

additional Key findings

Deposits

– FTBs in Greater London put down the largest average deposit which, at £60,192, is equivalent to a quarter (25%) of the average property value. FTBs in the North put down the smallest average deposit – £14,882 or 15% of the property value.

Prices

– Nationally, the average house price paid by a FTB in 2011 is £135,160; down 3% on 2010.

– The average price paid by a FTB is highest in Greater London (£240,768) and lowest in the North (£96,324).

Age

– The average age of a FTB is 29 years old; down slight from the average in 2010 (30). FTBs in the North, Yorkshire and Humber and Wales are, on average, the youngest at 28 year olds. The average age of a FTB is highest in London at 32.

– Whilst the average age of a FTB has been largely static in recent years, there has been a significant increase in the proportion receiving financial help. The CML estimate that 64% of FTBs required financial assistance in 2011 Quarter 3 compared with 31% in mid-2005. The typical age of those FTBs who did not receive assistance has increased from 30 to 33 since early 2008.

Mortgage Affordability

– The proportion of disposable earnings devoted to mortgage payments by a potential new first time buyer stood at 26% in 2011 Quarter 3; almost half of the peak level of 50% in September 2007 and comfortably below the long-term average of 34%.

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Thanks to the recent, albeit late, snowfall across Europe, this year will be another successful ski season and a potentially lucrative market for selling travel insurance.

Due to the nature of a skiing holiday, and that many of the risks are specific to a winter environment, customers need to invest in a policy with both specialist cover and expertise. Equally, for an insurer, it is important to partner with assistance and claims companies that understand these specific risks and can manage their exposure more effectively.

A standard single trip policy is unlikely to cover winter sports and may often exclude spontaneous activities such as tobogganing, ice-skating and even reindeer sleigh rides! Ski travel insurance offers tailored cover and the premiums reflect these risks as well as the potential increased costs of heli-evacuation, the prevalence of private medical services in resort and the increased injury and liability risk. On the positive side, those on a winter sports holiday tend to be fitter and less prone to illness, somewhat reducing cancellation and medical claims costs.

Skiers tend to be creatures of habit, wanting the adrenaline rush that the sport can deliver in buckets, and knowing what they want from their insurance cover. They already know that the cost of ski equipment, whether hired or owned, can be expensive, as can replacing lift passes. They know that the weather can impact their holiday, whether it is through too much or too little snow. They know that, whilst low risk, an avalanche can blockade their resort and that they need cover in that event, whether they are in or outside the resort at the time. More importantly, they know that there is greater risk on the slopes than on the beach so travel insurance is more of an essential trip purchase.

But despite this, many skiers do not purchase the correct level of cover for their needs. A standard single trip policy is unlikely to cover winter sports, so a winter ski add-on must be purchased with the policy. For example, a specialist like Columbus Direct offers winter sports coverage with standard cover for ski and snowboarders that suits most grades of traveller. Still, winter sports policies often exclude spontaneous activities such as going off-piste (especially outside of the resort boundaries or without a guide), tobogganing, ice-skating and even reindeer sleigh rides! Not to mention that many skiers are unaware that consuming excessive amounts of alcohol during lunch at the mountain restaurant will render their policy invalid, as well as putting them at a greater risk of having an accident.

Offering additional services alongside the cover may also help insurers to not only gain the loyalty of existing customers but also generate new business. For example, Complete Ski offers an iPhone  app covering 22 top ski resorts in Europe and North America that lets a skier quickly find out what’s located near their resort.

Written by Greg Lawson, Head of Retail at Columbus Direct

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Fame boosts the risk of early death for rock stars but the claim that the peril is greatest at the age of 27 is false, according to a study published on Tuesday by the British Medical Journal (BMJ).   

The theory of the “27 Club” spread earlier this year when Amy Winehouse joined Jim Morrison, Kurt Cobain and Brian Jones and other musicians who succumbed to the rock’n’roll lifestyle while in their 27th year.

Health statisticians led by Adrian Barnett of the Queensland University of Technology in Australia put the “27 Club” hypothesis to the test.

They compiled a data base of 1,046 musicians — solo artists and band members — who had a No. 1 album in the British charts between 1956 and 2007, a net that included balladeers, pop singers, R&B and heavy metal.

The first No. 1 was Frank Sinatra’s Songs for Swinging Lovers! on July 28  1956, and the last was Leona Lewis’ Spirit on November 18 2007.

During the period under study, 71 of the musicians died, equivalent to seven per cent of the sample. But there was no peak at all in deaths at the age of 27. On the other hand, musicians in their 20s and 30s were two to three times likelier to die prematurely than the general British population.

“The 27 Club is unlikely to be a real phenomenon,” says the paper.

“Fame may increase the risk of death among musicians, but this risk is not limited to age 27.”

Historically, the big risk period for rock’n’roll fame appears to be the 1970s and early 80s, the researchers say.    After that, the number of deaths among the chart-toppers fell sharply.

Indeed, there was a period in the late eighties when there were no mortalities at all. Why this is so is unclear — it could be that treatment for drug overdoses and addiction improved, and thus saved musicians in danger.

The “27 Club” gained currency with Winehouse’s death in July, prompting the explanation that musicians often become famous in their early twenties, and their risk-taking peaks four to five years later. A more insidious argument was that musicians craving immortality subconsciously became bigger risk-takers, or even committed suicide, in order to join rock’s dead elite.

Faithful to the principles of scientific rigour, the authors of the study acknowledge that the data trawl has some flaws. Three of the “27 Club” (Jimi Hendrix, Janis Joplin and Jim Morrison) did not have a No. 1 album in Britain and were thus excluded.

Kermit the Frog also had a No. 1 at this time with the Muppets. The bulgy-eyed amphibian and his chums are not known for substance abuse or playing with guns. So in an act of statistical fairness, the study included the mortality rate among the actors who played their parts.

Paris, Dec 21, 2011 (AFP)

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Liberty Mutual Insurance (LMI), the commercial lines division of Liberty Mutual Insurance Europe Limited (LMIE), has appointed Richard Coxon to the role of Chief Underwriter, Commercial Operations.

Mr Coxon originally joined LMIE in 2009 to lead its Commercial Property division. Over the past 26 years, he has served in numerous property underwriting and management positions throughout the industry.

In his new role, Mr Coxon, who will be based in LMI’s London office and report directly to Sean Rocks, CEO, takes responsibility for the 40 Commercial underwriting staff across LMI’s UK regional network of offices.

Commenting on the appointment, Sean Rocks said: “Richard’s a highly skilled operator who knows the UK Commercial Property market inside out. In this sharply focused role, he will be able to add real impetus to our Commercial push and further enhance our reputation with our broker partners.”

Richard Coxon added: “As we continue to expand our Commercial division, we make no apologies for maintaining an emphasis on strong underwriting discipline while continuing to offer first class products and service to our brokers and clients.”

LMI launched its Commercial division in March this year with the objective of becoming a credible and respected player in the UK commercial lines market. To help meet this objective, LMI has already developed a network of regional offices in Bristol, Cheltenham, Birmingham and Manchester, as well as London.

Source : Lyberty Mutual Insurance

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Tropical Storm Washi pummeled the northern part of the Philippine island of Mindanao late Thursday night. Heavy rainfall from Washi (locally called Sendong) lasted for ten hours, after which flash flooding caused rivers to overflow and coastal cities to flood. In some locations of Mindanao, as much as 20 centimeters of rain fell within a 24 hour period—roughly four times as much rainfall as the region typically receives in the whole of December. In isolated locations, the storm delivered up to 50 millimeters of rainfall per hour—about 10 to 20 millimeters more than had been predicted by the region’s local weather agency.

Washi made landfall in northern Mindanao, which produces rice (the Philippines’ staple food).  Northern Mindanao is also home to pineapple and banana plantations. According to the Philippine Agriculture Secretary, damage to the farm sector from Washi is still being assessed, but it is estimated that nearly 4,000 hectares of rice and corn land were impacted.

 “Washi made landfall as a tropical storm at approximately 09:00 UTC on December 16th (roughly 5pm local time). Maximum sustained winds at landfall were 74 kilometers per hour (46 miles per hour), making Washi a weak tropical storm,” said Dr. Peter Sousounis, senior principal scientist at AIR Worldwide.  “Its maximum sustained winds never exceeded 46 mph during its lifetime. The storm’s most significant threat was precipitation; even prior to making landfall, Washi’s outer rain bands brought heavy rainfall to Mindanao’s northeast coast.

According to AIR, Washi’s tropical storm-strength winds are expected to have caused limited damage to roof and wall claddings of poorly constructed homes and commercial structures, and very little damage to well-built structures, though the storm is expected to have caused significant damage to low-rise buildings from precipitation-induced flooding. As flood insurance penetration in the hardest hit regions are low, AIR does not expect significant insured losses from this event.

As of the Japan Meteorological Agency’s (JMA) 6:40 UTC advisory today, Washi is a tropical depression, east of the Philippines, in the South China Sea.

Though the Philippines is regularly battered by cyclones that form over the Pacific Ocean, northern Mindanao is unaccustomed to tropical cyclone activity. (Storms typically track farther north). Officials said they had never witnessed anything like Washi. Washi is the 10th typhoon to hit Philippines this year.

Tropical Storm Washi’s general movement to the west is forecast to continue today. The Malaysian Meteorological Department said in a statement Monday the storm was moving westwards from Palawan, Philippines, towards East Malaysia. Malaysia’s east coast could experience waves of more than 5.5 meters high until Saturday. According to the National Disaster Risk Reduction and Management Council, Tropical Storm Washi has affected more than 167,000 people.

The damage picture from Washi is still emerging at this time, but it is clear that the port cities of Cagayan de Oro and Iligan were most severely impacted. There have been reports of disrupted power lines and flooded streets.

Source : AIR Worldwide

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US health officials will give the states the liberty to choose the set of medical benefits that must be offered by insurance plans participating in new exchanges mandated by the federal healthcare overhaul.

The Department of Health and Human Services announcement relates to the so-called essential health benefits for millions of Americans expected to qualify for coverage sold through state-based insurance exchanges beginning in 2014.

The proposed approach reflects the federal government’s commitment to give states flexibility as they set up the exchanges, HHS Secretary Kathleen Sebelius said on Friday.

“The coverage that works in Florida may not work in Nebraska,” Sebelius told reporters on a conference call.

Under the approach announced on Friday, states can select an existing health plan to set the benchmark for services included in the essential health benefits package.

As benchmarks, states would be able to choose either: One of the three largest small employer plans in the state; one of the three largest state employee health plans; one of the three largest federal employee health plan options; or the largest health maintenance organization plan offered in the state’s commercial market.

As set out in the law, states must ensure the essential benefits package covers services in at least ten categories of care, among them preventive care, emergency services, maternity care and prescription drugs.

Ron Pollack, executive directore of healthcare advocacy group Families USA, said that HHS needed to provide “strong oversight and enforcement” of the benefit standards as they are implemented in the states.

“It will be important to ensure that adequate coverage across all ten required benefit categories is provided – marking an improvement over many plans offered today,” Pollack said.

HHS said it would take comments on the proposal until January 31. The announcement on Friday addressed only the services and items covered by a health plan, not cost sharing, such as deductibles, co-payments, and co-insurance. HHS plans to address cost in a future announcement.

The essential benefits are perhaps the most anticipated piece of information still awaited by states, employers, health providers and especially insurers under President Barack Obama’s landmark healthcare overhaul.

The exchanges are designed to create easy access to an open marketplace of insurance plans and to allow uninsured people and small businesses to band together to negotiate cheaper rates for healthcare coverage, as well as automatically be considered for government subsidies.

HHS has been subject to intense lobbying over the rule as virtually the entire U.S. healthcare system, including insurers such as Aetna Inc and WellPoint Inc, could be affected by it.

The Institute of Medicine, an advisory group to U.S. policymakers, recommended in October that essential benefits stay in line with the cost of insurance in a typical small employer plan, in step with inflation and medical advances.

The healthcare overhaul is designed to extend coverage to an estimated 32 million Americans who are now uninsured.

Source : Reuters 

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Axa’s Swiftcover.com has chosen to replace Iggy Pop from its ‘Get A Life’ campaign by animated dogs. Iggy Pop animated the Swiftcover.com campaign since 2009, and actually made motor insurance interesting and boosted sales says Axa.

The new campaign features speaking dogs and presented as the Swiftbrothers. They are a boxer named Sid and a beagle called Johnny. They live close to their family in barksell with Mum, Dad, Grandpa and the rest of their buddies.

Every day is a new adventure for the dogs, who are voiced by former Happy Mondays dancer Bez, by radio and TV presenters Chris Evans and Noddy Holder, and League of Gentlemen duo Reece Shearsmith and Steve Pemberton.

Source : Marketing Magasine

The new campaign is to be launched for the beginning of the year, initially through Facebook for a couple of days on December 30 and December 31, before going live on TV from January 2 2012.

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In the month of November buyer demand for property has risen. Yet economic uncertainty continues to hold back the market from any meaningful recover according to RICS UK Housing Market Survey.

Seven per cent more surveyors reported new buyer enquiries rose rather than fell during November. This was the third consecutive monthly increase for the series, which is a good indicator of buyer demand in the market. Although the pick-up in interest signalled by the results is still modest, this is the first time since the spring of 2010 that the series has been in positive territory for three months in a row.

The improved tone to buyer demand was also reflected in an improvement in the level of sales transactions. Newly agreed sales rose, with 14 per cent more respondents reporting sales increased rather than decreased (from 9 per cent more in October). Alongside this, the average number of sales per surveyor (per branch) climbed to 15.4 in the three months to November. Although still very subdued, this is the best level since September 2010.

During November, surveyors were again asked about the factors which they felt were holding back activity in the housing market. Most cited was uncertainty in the economy and this reason was given by 89 per cent of respondents (compared to 79 per cent three months ago). Availability of mortgage finance came in at 70 per cent, while fear of house price falls remained steady at 42 per cent.

The house price balance continues to be negative, with 17 per cent more chartered surveyors reporting price declines rather increases in November – although this is an improvement from October’s reading of -24 per cent. Significantly, close to three-fifths of surveyors indicated that prices had not changed over the month and of those reporting a fall; the vast majority indicated that it had been in the 0 to 2 per cent range.

Looking ahead, it remains a broadly similar story to that signalled for much of 2011. Price expectations remain barely changed at -21 per cent while the net balance for sales expectations is still in positive, albeit low, territory at + 5 per cent.

Commenting, RICS housing spokesperson, Alan Collett, said:

“It is encouraging that buyer interest has edged upwards in the face of the endless diet of negative news from Europe and the turmoil in financial markets. However, a meaningful recovery still seems some way off.

“While the proposed mortgage indemnity scheme is clearly likely to provide some assistance for the market and is to be welcomed, its focus on the new build sector will inevitably mean that it only offers support for a relatively small share of the market.”

Source : RICS

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The fourth OECD Sovereign Borrowing Outlook says that OECD governments face challenges in the markets for government securities.

This is a result of continued strong borrowing amid a highly uncertain environment with growing concerns about the pace of recovery, surging borrowing costs, sovereign risk and contagion pressures.

Higher than anticipated gross borrowing needs of OECD governments are expected to reach USD 10.4 trillion in 2011 and USD 10.5 trillion in 2012, including a strong increase in longer-term redemptions in 2012. Against this backdrop, government debt ratios are expected to remain at high levels.

Raising large volumes of funds at lowest cost, with acceptable roll-over risk, remains therefore a great challenge for a wide range of governments, with most OECD debt managers continuing to rebalance the profile of debt portfolios by issuing more long-term instruments and moderating bill issuance.

Additional challenges for government (and corporate) issuers are the complications generated by the pressures of a rapid increase in sovereign risk, whereby “the market” suddenly perceives the debt of some sovereigns as “risky”, as well as euro area-induced contagion effects. Growing concerns among investors have resulted in the offloading of significant holdings of European debt.

Source : OECD

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The year 2011 marks the 200th anniversary of the first in a sequence of three Magnitude 7 or greater earthquakes that occurred over a 54-day period spanning 1811 to 1812 along the Mississippi River, near the town of New Madrid, Missouri. Ground shaking from the three main shocks – which struck on December 16, 1811, January 23, 1812, and February 7, 1812 – was experienced over the entire Eastern U.S., up to 1400 km from the epicenters. The earthquakes also created hundreds of aftershocks, which were felt for months afterwards. A high level of seismicity persists in the New Madrid Seismic Zone (NMSZ) region today, with this activity considered by some to be part of the continuing aftershock series. Seismicity rate estimates suggest a 28–46% likelihood of a M6.0 or greater earthquake in the broad region around New Madrid in the next 50 years.

In a new report, RMS has analyzed a range of earthquake scenarios in the New Madrid region. The analysis reveals that if a similar, even moderate, earthquake (M6.1–6.5) were to occur adjacent to a major urban area today, it would generate total economic losses in the range of $10 to $100 billion and insured losses of $5 to $50 billion.  The range depends on the degree to which ground shaking decays with distance from the earthquake source, which remains a key area of uncertainty. It is forecast that insurance payments would cover 60–80% of total economic losses, therefore contributing significantly to recovery efforts. This ratio of insured to total economic loss is higher than the 45–55% ratio observed in hurricanes Ike (2008), Katrina (2005) and Andrew (1992), and significantly larger than the anticipated ratio of 10–15% for major California earthquakes.

 “The 200th anniversary of the 1811–1812 New Madrid earthquake sequence is a stark reminder of the earthquake risk in the region, the potential losses that could occur, and the need to adequately prepare for a possible future event,” noted Dr. Patricia Grossi, director of research at RMS and co-author of the study.

Source : RMS

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Confused.com offers research revealing which vehicle brands are most popular according to Zodiac signs.

Aquarians, known for their eccentric streak, are 30% more likely to drive a Peugeot 106 than any other star sign. A Rover 620 is likely to be their second choice, according to Confused.com research.

Pisces, often regarded as alluring individuals are most likely to be seen in a sporty little number. Research shows that drivers of a Mazda 2 Sport are 31% more likely to be Pisceans, who celebrate their birthday from 20th February to 20th March.

Always in search of adventure, the car of choice for an Aries is a Daewoo Kalos or an Alfa Romeo. If your star sign is Taurus you’re probably cool, calm and collected, which is reflected in the most popular choice of car the Mazda 2 Tamura.

Gemini’s, described as curious, thirsty for knowledge and mischievous, are most likely to be seen in a Hyundai 130 Comfort than other star sign. Motorists carrying the Cancer star sign are most likely to drive a Vauxhall to complement their caring and sensitive side.

Regarded as charismatic and fortunate it is no surprise that Leo’s are more likely to drive a Land Rover than other star signs. The British classic complements their traits perfectly.

Virgo drivers, described as confident, successful and creative, are more likely to drive a Lexus and Scorpions, who are known to be wise, are 40% more likely than other star signs to drive a Fiat 500, an economical car.

Vauxhall Corsa is the most popular car choice of the thoughtful and happy-go-lucky Librans. Sagittarians are 30% more likely than average to drive a Subaru Optimistic than other star signs.

Capricorns, are most likely to drive a Volkswagen Beetle, the popular car makes a statement, which contradicts their seemingly quiet nature.

Yasmin Boland of www.moonology.com says: “It”s very interesting to see the research here – there’s no doubt that astrology is a good predictor of so many personality traits, including which car you’re likely to drive,to how many speeding tickets you are likely to get!

“Fire signs (Aries, Leo and Sagittarius) are the speedy people. Water signs (Cancer and Scorpio) are the ones who want safety and comfort. Air signs (Gemini, Libra and Aquarius) are the ones who get the parking tickets because they get so caught up in what they’re doing they forget the time, and Earth signs (Taureans, Virgos and Capricorns) signs which portray a cool persona and easy going people, which they personality is reflected in their choice of car!”

Gareth Kloet, Head of Car Insurance at Confused.com, added: “A person’s choice of car has always been a topic of discussion and many people make judgments about the car people choose to drive”

“It’s interesting to know that the star sign you are born under can be a trigger to your choices. However, on a serious note, whatever car you choose, road safety is essential. We urge motorists to ensure they are covered adequately with their car insurance and to shop around for the best price.”

Source : Confused.com

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Six insurance companies and two IT software and providers gave their commitment to the OFT to limit the data exchanged between them.

The following companies have agreed to the commitments following an OFT consultation: Insurers Ageas Insurance Ltd (formally Fortis Insurance Ltd), Aviva Insurance UK Ltd, AXA Insurance UK plc, Liverpool Victoria Insurance Company Ltd, RBS Insurance Group Ltd, and Zurich Insurance plc – UK Branch; and IT software and service providers Experian Ltd and SSP Ltd.

An OFT investigation identified an increased risk of price coordination among motor insurers using a specialist market analysis tool provided by Experian called Whatif? Private Motor.

The Experian tool allowed insurers to access not only the pricing information they themselves provided to brokers, but also pricing information supplied by other competing insurers.

The OFT warned the firms that, because insurers were able to access information about their competitors’ future pricing intentions, the information exchanged through WhatIf? Private Motor raised competition law concerns, in particular that it could potentially be used to coordinate on price.

The formal commitments address these concerns by ensuring that the companies will exchange pricing information through the analysis tool only if that information meets certain principles agreed with the OFT. These principles require the information, if less than six months old, to be anonymised, aggregated across at least five insurers and already ‘live’ in broker-sold policies.

Having accepted the commitments, the OFT has ended its investigation and will not be proceeding to a decision on whether or not the Competition Act has been infringed.

Clive Maxwell, Executive Director at the OFT, said:

‘The exchange of future pricing data between competitors has the potential to dampen competition, preventing customers from getting the best value.

‘We have been able to address our concerns by accepting commitments that reflect the specific features of this market. These limit data sharing while ensuring a certain level of information remains available to potential new competitors, in particular smaller firms, to encourage entry into and healthy competition in the market.’

Source : OFT 

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Along with three other organisations, Nationwide Building Society has achieved Business in the Community’s (BITC) CommunityMark.

The CommunityMark standard looks beyond philanthropy to acknowledge the varied ways that companies of all sizes and across all sectors are investing in their communities through corporate giving and fundraising, pro bono and employee volunteering time, in-kind support and commercial initiatives. The CommunityMark was first launched in 2008 and is endorsed by HRH The Prince of Wales. In four years, 45 organisations have achieved the standard to become exemplars of community investment.

Four years on from members voting for Nationwide to give 1% of pre-tax profits to community and charitable causes, the building society has contributed the following through its community investment programme:

– £3.7million distributed through the Nationwide Foundation over three years (2009-12)

– Supported the recruitment and training of 1,477 volunteers to promote and deliver financial education training sessions to over 152,000 people through the MoneyActive programme with Citizens Advice

– Provided life skills for thousands of young people through NationwideEducation.co.uk including our impartial and award winning First Time Buyers guide

– Developed a BTEC Money and Finance Skills qualification with Edexcel which has already reached 2,588 14-19 year olds

– Projects with Shelter, the housing and homelessness charity, have helped 377 families, 561 adults and 323 young people since 2010

– Launched the employee volunteering programme giving all eligible employees two days per annum to support their local communities

– Employees and members raised a massive £1 million for good causes in 2010

Collectively, the new achievers of the CommunityMark have invested £13,571,077 in their communities. They have encouraged their employees to volunteer their time amounting to £649,611, supported over 24,000 young people across 47 schools and worked in partnership with 35 community organisations.

Some of Nationwide’s community investment programmes include:

– MoneyActive, a three year £3 million Citizens Advice programme designed to help educate people to better manage their finances. Against a target of 1,300 volunteers to recruit and train and reaching 100,000 people, we have already achieved 1,477 recruits and reached 152,000 people.

– Working with Shelter, the housing and homelessness charity, we fund programmes to support people facing a range of housing problems. In Bristol alone, after two years we have helped 377 families, 561 adults and 323 children through support services for homeless families making the transition into a settled home and community

– To improve knowledge and understanding we have developed a range of impartial housing guides including an award winning First Time Buyers guide which enables people to make informed choices when making decisions about their housing needs. Since June 2010 over 35,000 copies of the guide have been downloaded

– An employee volunteering programme giving all employees up to two days paid leave per calendar year to volunteer in local communities. Since launching a new volunteering platform programme with LeapCR, over 25% of employees have activated their registration and are now looking for volunteering opportunities.

Graeme Hughes, Nationwide’s HR & Corporate Affairs Director said: “This really is fantastic recognition for our community investments programme where we take a proactive and preventative approach to dealing with social issues including financial education and homelessness. Working in collaboration with our long term partners including Citizens Advice and Shelter, we are increasing knowledge levels, support and accessibility through our range of programmes. Achieving the CommunityMark is a great achievement for us and is testament to all the hard work our employees and partners have put in over the years”

Stephen Howard, Chief Executive of Business in the Community said:

“CommunityMark companies demonstrate an impressive commitment to identifying and responding to the social needs of their communities and supporting those most at risk. There are so many ways in which business can help create vibrant and prosperous communities and CommunityMark companies understand that excellence in community investment not only has a positive and valuable impact on society, but that it also translates to real business benefits.

“By focussing on social issues such as education, crime, unemployment and financial capability and by nurturing enterprise and helping to build a skilled future workforce, our newest achievers are helping to improve their local communities and build invaluable partnerships that support the local economy and businesses.”

Nationwide Building Society employs around 15,000 people in various admin centres and branches across the UK.

Source : Nationwide Building Society

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Three-quarters of British-grown oysters contain norovirus, a bug which causes diarrhoea and vomiting, according to new research published on Tuesday by the Food Standards Agency (FSA). 

Yet government health experts warned that their tests did not reveal the extent of infectious norovirus, the strain that makes people ill.  Nor could they say how effective various treatment processes before and after harvesting were in getting rid of the virus, explaining that their study will contribute to a Europe-wide review of the problem.

The two-year study looking at samples from 39 oyster harvesting areas across Britain found 76 per cent off oysters straight off the bed contained norovirus.

“It is difficult to assess the potential health impact of these findings, as the available research techniques are not able to differentiate between infectious and non-infectious norovirus material within the oysters,” the FSA said in a statement. “Furthermore, a safe limit for norovirus has not been established.”

In 2009, the Michelin-starred Fat Duck restaurant of top British chef Heston Blumenthal was forced to close after more than 500 people fell ill with norovirus. Raw oysters and clams were later identified as the main source.

Oysters filter large volumes of water to get their food, and any bacteria and viruses in the water can build up within them. They are subject to controls before and after harvesting which help remove these.

Norovirus is the most common viral cause of diarrhoea and vomiting in Britain, but is generally mild and most people recover within a few days.

London, Nov 29, 2011 (AFP)

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Fitch Ratings says it will not change the four ‘AAA’ rated U.S. insurance companies’ Rating Outlooks to Negative from Stable following Monday’s revision of the U.S. government’s ‘AAA’ sovereign Rating Outlook to Negative from Stable.

New York Life Insurance Company, Northwestern Mutual Life Insurance Co., Teachers Insurance and Annuity Association of America, and United Services Automobile Association top-notch ‘AAA’ insurer financial strength ratings are neither directly nor indirectly linked to government support and therefore are not capped at the rating of the U.S. government. Accordingly, the Rating Outlooks for all four groups of companies remain stable.

Fitch maintains its view that each company demonstrates strong levels of capital, liquidity, and franchise value independent of government support. Therefore each group’s ratings and outlooks remain intact despite the U.S. sovereign Rating Outlook action. Furthermore, in the event of a future U.S. sovereign downgrade, we believe it would be reasonable for the four ‘AAA’ companies to maintain ratings potentially one to two notches higher than the U.S. government’s rating.

Ratings actions for the noted U.S. insurers linked to a possible future U.S. sovereign downgrade would occur only if ramifications from a sovereign rating event had widespread negative implications across capital markets and/or if a more severe downturn in the economy were to transpire.

The above article originally appeared as a post on the Fitch Wire credit market commentary page. The original article can be accessed at www.fitchratings.com . All opinions expressed are those of Fitch Ratings.

Source : Market Watch

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Stiff increases in the cost of living leads to a greater percentage of people doing home improvements on their own. Some of these projects however lead to claims on home insurance when ending in disaster.

A recent study by the Institute of Fiscal Studies warned that households are looking at a 3.8 per cent fall in earnings with data for the first 11 months of 2010-11, marking the largest fall in disposable income since 1981. As a consequence of this strain on income, homeowners in the UK are turning their hand to DIY (Do It Yourself).

Aside from money issues, a Confused.com survey also showed that thirty-nine per cent of Brits claim to have undertaken home improvement work after watching DIY programs; their favourite being Grand Designs (22 per cent).

Homeowners in Scotland and the West Midlands are most likely to do their own home improvements, with 23 per cent claiming to do DIY, compared with the North East where only 11 per cent do DIY.

Fifty per cent of homeowners in Northern Ireland also claimed to have done a successful job, compared with 26 per cent of homeowners in Wales who said their inspirational home improvements looked dreadful and out of this 26% of Welsh homeowners, if money were no object, then 67 per cent would pay someone to do their DIY.

Of all those UK homeowners surveyed, 31 per cent of these budding Kevin McClouds admitted to having DIY mishaps, and of these 31% homeowners, most disasters were taking place in households in Scotland (12 per cent) and Wales (12 per cent) resulting in home insurance claims.

Despite tackling DIY to save money, 6 per cent of Scottish homeowners have paid over £1,000 in the past 24 months rectifying their DIY disasters. A further15 per cent of Scottish homeowners have paid £200 or more in the same period, whereas those living in Northern Ireland paid out over £350 in the last two years to fix botched DIY. In Wales, 13 per cent said they have paid out £300 fixing bad DIY jobs in the last two years.

Mark Gabriel, Confused.com Home Insurance spokesman, says: “with the economy so fragile, people’s finances are under more pressure and things aren’t getting any easier particularly with the rise in petrol prices and food prices. Therefore people have turned to ways of saving money and have been inspired by home improvement programs”.

“However it is important to remember that television often makes tasks look easier than they are. In fact, some home insurance policies stipulate that only professionally accredited tradesmen should carry out certain work, so it is worth checking that you are not inadvertently rendering your insurance invalid by failing to read the small print.”

“It is important to look at your home insurance policy to check that you are fully covered, should things go wrong, and to check their policy details carefully. It is also necessary to take extra safety precautions, as DIY disasters can cause accidents.”

Confused.com is offering a few safety tips to help overzealous home improvers avoid self-inflicted mishaps:

Take your time: Make sure you take your time on a job. We know it’s coming close to Christmas and everyone wants their homes looking nice for the family or unexpected guests, but make sure you plan what you want to do and don’t rush a job as accidents can happen.

Don’t undertake DIY alone: There should always be someone on hand, in case an accident happens.

Be aware of harmful fumes: When painting, or using any material that generates toxic fumes or dust, keep the room well ventilated. Never smoke while painting or standing close to a freshly painted area.

Dress for the occasion: Wear protective clothing including safety goggles, gloves and a dust mask when working with potentially hazardous materials such as glass or spray paint.

Avoid electrifying results: If a job is beyond your capabilities, hire a professional. This is particularly important for any electrical jobs which should only be carried out by a qualified electrician. Also be careful when putting up those Christmas lights

Don’t cave in: Take care not to remove any load-bearing walls – with nothing to support it, a heavy roof could cave in, and cause severe structural damage.

Be safe: Be extremely careful and check that the equipment carries British or European quality marks.If it comes with a safety manual, it is important to read it!

Source : Confused.com

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