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Aegis Group plc (“Aegis”), the media communications and market research group, announces that it has acquired Clickthinking Online (Pty) Limited (“Clickthinking”) in South Africa. As at 31 December 2010, Clickthinking had gross assets of R7.1m.

An award-winning digital search and performance agency, Clickthinking was established in 1999 and has since grown rapidly. Clickthinking is the region’s market leader in the fields of Search, Web Analytics and Conversion Marketing. Its proprietary methodologies and tools allow brands to identify and convert potential prospects into customers, using a variety of internet and mobile technologies.

With its established base of domestic and international blue-chip clients, including Mercedes Benz, &Beyond, Johnson & Johnson, eTV, and Vodacom, Clickthinking will become part of iProspect, the world’s leading digital search and performance network, which has a presence in the world’s top 40 digital economies.

Jerry Buhlmann CEO of Aegis Group Plc, said: “Clickthinking’s tools and knowledge will compliment iProspect’s search engine marketing expertise, as well as giving iProspect a presence in Africa, one of the world’s most exciting, fast growing regions.”

Robert Murray, iProspect Global CEO, said: “Clickthinking not only has the regional expertise and cultural understanding, but the technology prowess to provide South African clients with world-class digital marketing strategies. The addition of Clickthinking to the iProspect portfolio, with their keen eye on customer understanding and conversions, will enable faster expansion in Southern Africa, and will offer key expertise for our globally-reaching client campaigns.”

Peter Stewart, MD of Clickthinking said: “We are excited to be joining forces with iProspect. Together we look forward to cementing our position in South Africa and offering our existing clients, as well as new clients, a greater breadth of in-depth search and conversion marketing expertise.”

Source : Aegis Press Release

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On the heels of widespread flooding in eastern Australia, the state of Queensland today is evacuating residents as a giant typhoon barrels across the Pacific straight for the Queensland coast.

Tropical Cyclone Yasi is likely to cross Queensland’s tropical coast early Thursday morning, according to the Australian Bureau of Meteorology. The potentially dangerous cyclone is exceptionally large in size.

The Bureau of Meteorology’s Queensland Regional Director Jim Davidson, says the bureau is closely watching Tropical Cyclone Yasi and has issued a formal Cyclone Watch.

Rampaging across the southern Pacific Ocean, Tropical Cyclone Yasi easily spanned the distance between the Solomon Islands and Vanuatu on Sunday. The Vanuatu Meteorological Service says the cyclone is picking up strength as it veers away from the islands, travelling west towards Townsville in Australia.

At midnight on February 1 local time, the U.S. Navy’s Joint Typhoon Warning Center reported that Yasi was roughly 1,620 kilometers (875 nautical miles) east-northeast of Cairns on the Queensland coast.

Yasi was measured with maximum sustained winds of 90 knots (165 kph, 103 mph) and gusts up to 110 knots (205 kph, 126 mph).

The tropical coast is likely to begin feeling the first effects of Yasi on Wednesday morning, with damaging winds starting to impact coastal and island communities as the cyclone approaches.

Authorities are going from door-to-door in northern Queensland ordering people to leave their homes to escape a predicted two-meter (seven foot) storm surge.

Davidson said, “People in the affected area will start to experience gale force winds as early as Wednesday morning, so should be putting their cyclone plans into effect immediately.”

Davidson said “TC Yasi is currently rated as a Category 3 cyclone and is expected to continue intensifying as it moves towards the coast over the warm waters of the Coral Sea.”

“There is always uncertainty with any weather event but, at this stage, the various models we use to assist our decision making process are consistent in suggesting that TC Yasi will cross the coast somewhere between Innisfail and Proserpine early Thursday morning.”

Yasi has the potential to make landfall in Cairns with wind speeds in excess of 100 knots (185 kph, 115 mph), making it more powerful than Cyclone Larry, which devastated the north Queensland town of Innisfail in 2006.

The Joint Typhoon Warning Center predicts that favorable conditions will intensify the storm, which could peak at 125 knots (230 kph, 144 mph).

Queensland Premier Anna Bligh said at a news conference Sunday, “It is a very large rainfall system as well as potentially a very significant cyclone, so we are looking not only at potentially damaging cyclone but more very heavy rainfall which could fall into river catchments and cause further flooding beyond the cyclone. There is likely to be very significant gale force winds.”

On the Queensland coast, the Abbott Point coal terminal has been closed, and trains and ferries will not travel until the cyclone has passed. Some 300 schools across northern Queensland will close on Wednesday until further notice. In Townsville, shelters have been opened for people who are either homeless or living in caravan parks.

Unless they are asked to evacuate, emergency officials say residents should stay home. “People who have a home are much safer in their own home and we would encourage people to shelter in place,” the premier said.

Although the floods of December and January covered more than half of Queensland, Premier Bligh says emergency officials are ready for this new test.

“Yes we have come through a very difficult time and our emergency resources have certainly been tested in the last couple of weeks,” said Bligh, “however I want to reassure people that they have had ample opportunity to replenish themselves and restore supplies. We are not battle weary, we are battle ready, and our highly trained people are well rested and they are ready to respond.”

Bligh said, “What we have seen in the last few weeks is an emergency service response that I think is world class and is one that people can have confidence in and rely on in the week ahead.”

Source : Environnement News Service

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Resolution confirmed it has completed the acquisition of the Bupa Health Assurance Ltd (BHA) business comprising Bupa Group Risk and Bupa Individual Protection.

Initially, it is intended that BHA will be run as a stand-alone entity before being integrated with Friends Provident. Steve Payne, chief executive of BHA, will continue in his role and be responsible for the day-to-day management of BHA operations. Steve will report directly to Trevor Matthews, CEO of Friends Provident.

The addition of the BHA business confirms Friends Provident’s commitment to the group risk market and offers an extended product range (group life, group income protection, and group critical illness) to its supporting intermediaries alongside its corporate pension proposition. It will also enhance Friends Provident’s individual protection offering on a ‘best of the best’ basis.

Source : Friends Provident Press Release

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Friends Provident International (FPI) announced that Justin Howcroft has joined FPI’s Global team as corporate sales director reporting to Bob Pain. Justin joins from the Friends Provident UK corporate management team. He will be responsible for developing FPI’s corporate global distribution strategy.

Justin joined Friends Provident in 2004, after 16 years with AEGON, he has over 23 years experience in corporate pensions, including asset management and marketing. Justin Howcroft, corporate sales director at Friends Provident International, said: “I’m looking forward to this new opportunity. The experience that I bring from the UK corporate sector in platform development and asset management will help to continue FPI’s successful expansion in the corporate market.”

Bob Pain, international sales director at Friends Provident International, said: “I’m delighted that Justin is joining the FPI team. The corporate business is a key component of our growth plans. Justin’s energy and drive combined with his wealth of corporate experience gained in the UK market will help FPI to continue the expansion of our international corporate platform in new territories and support the existing global team.”

Source : Friends Provident Press Release

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Aon Corporation, the leading global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, today said it has united its merger and acquisition practices to form Aon M&A Solutions, the largest provider of M&A risk and human capital solutions in the world.

Aon M&A Solutions will be led by Mark Arian and Brian Casey. Brian Cochrane will lead global sales and innovation. The group will be comprised of approximately 100 M&A professionals around the globe working in collaboration with specialty product, solution and industry practices across Aon. The group will be responsible for M&A-related client and project management, and for delivering innovative solutions to Aon’s corporate and private equity clients.

“To meet the pent-up demand for merger and acquisition activity, Aon is uniting its global M&A businesses in risk and human capital consulting,” said Greg Case, president and chief executive officer of Aon Corporation. “Clients demand and deserve the best deal execution team to address a full range of issues, from due diligence to executive compensation review.”

According to an October 22 Bloomberg article, the world’s 1,000 largest non-financial companies have nearly $3 trillion in corporate funds on their balance sheets. In addition, multiple industry reports have cited more than $1 trillion in untapped private equity capital across the globe.

“As the bulk of liquidity in the current market chases a finite number of acquisition opportunities,” Case added, “Aon’s clients will be best-positioned and competitively advantaged with our cutting-edge solutions and global support.”

Source : Aon Press Release

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US researchers have found a way to predict how successful a smoker will be at quitting by using an MRI scan to look for activity in a region of the brain associated with behavior change.

The scans were performed on 28 heavy smokers who had joined an anti-smoking program, according to the study published Monday in the peer-reviewed journal Health Psychology.

Participants were asked to watch a series of commercials about quitting smoking while a magnetic resonance imaging machine scanned their brains for activity.

After each ad, subjects in the study “rated how it affected their intention to quit, whether it increased their confidence about quitting, and how much they related to the message,” researchers explained.

Those who showed activity in the medial prefrontal cortex during the ads were “significantly linked to reductions in smoking behavior” in the month that followed, regardless of how the people said they were affected by the ad.

“What is exciting is that by knowing what is going on in someone’s brain during the ads, we can do twice as well at predicting their future behavior, compared to if we only knew their self-reported estimate of how successful they would be or their intention to quit,” said lead author Emily Falk.

“It seems that our brain activity may provide information that introspection does not,” added Falk, director of the Communication Neuroscience Laboratory at the University of Michigan.

She said researchers would next try to determine which kind of messages were most effective by matching brain activity to the ads.

The study was funded by the National Institutes of Health and the National Science Foundation, and took place at University of California, Los Angeles.

Washington, Jan 31, 2011 (AFP)

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Health care organizations have a new type of insurance designated to protect from a crippling financial loss in the event of a data breach. The stand-alone insurance policies would cover the expenses a practice can expect when a data breach occurs. And those expenses are rising each year.

The per-patient costs associated with a breach have risen to more than $200 for notification and loss of income, according to the Ponemon Institute, a research firm in Traverse City, Mich. And the government now has the power to impose hefty fines against health care organizations that fail to protect their patients’ privacy. A policy covering these costs may offer peace of mind to practices that would be devastated if a worst-case scenario happened, say sellers of data breach insurance.

Peace of mind comes at a price, however. Practices are left to wonder if buying a policy is a small price to pay for protection from a breach that could cost the practice millions. Or is that money better spent on beefing up data security? Data breach insurance doesn’t absolve practices from complying with federal rules on ensuring data privacy and security.

Security and liability insurance was created about 10 years ago for the financial industry after the Gramm-Leach-Bliley Act, passed in 1999, included mandates for financial institutions to protect their clients’ private information. Typical business insurance policies cover loss caused by events such as fire and floods, but not by breaches.

It wasn’t until six years ago, as health care institutions started to become more digitized, that the insurance industry realized that, like financial institutions, health care organizations had a lot to lose.

Stakes on protecting patient privacy were raised even higher with the passage of the Health Information Technology for Economic and Clinical Health Act, part of the 2009 federal economic stimulus package. This strengthened the regulations of the Health Insurance Portability and Accountability Act.

The Hi-tech Act not only required notification of any breach involving 500 or more patients to those affected, the Dept. of Health and Human Services and the local media, it also imposed penalties for noncompliance that could reach $1.5 million per violation.

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Scientists have pinpointed a source of nicotine craving in the brain, opening up a new path towards drug treatments to help smokers kick their habit, according to a study released Sunday.

Tobacco kills more than five million people every year and accounts for nearly one-in-10 adult deaths, 90 percent of them due to lung cancer.

In experiments with mice and rats, the researchers mapped the functioning of a gene called CHRNA5 that has been previously fingered in nicotine addiction.

The gene controls a receptor — an entry point on the surface of brain cells — which responds to nicotine molecules.

With a normal version of this gene, anything more than a tiny dose of nicotine triggers a message to the brain which says, in effect, “stop consuming,” the scientists found.

Larger doses unleash a sense of repulsion, similar to “bad-tasting food or drink,” lead researcher Paul Kenny at the Scripps Research Institute in Florida said in an email exchange.

But the effect was quite different in mice in which a tiny sub-unit of the receptor, known as alpha5, had been knocked out.

The negative message was never sent — and as a result, the rodents couldn’t get enough of the potent drug.

A similar scenario occurs naturally in some humans, the researchers believe.

Genome-wide screening studies have identified genetic alterations which impair the alpha5 unit’s functioning.

Between 30 and 35 percent of the population in the United States is thought to have a form of the CHRNA5 gene that encourages unbridled nicotine craving.

“Our data probably explain the fact that individuals with this genetic variation have increased vulnerability to developing tobacco addiction,” Kenny said.

“They are likely to be far less sensitive to the averse properties of the drug, and are thus more likely to acquire a nicotine habit.”

On the strength of the new findings, published online in the journal Nature, Kenny has received funding from the National Institute of Drug Abuse to design a new category of drugs.

“This study has important implications for new approaches to tobacco cessation,” said Jon Lindstrom, a neuroscientist at the University of Pennsylvania who has investigated other nicotine receptors in the brain and will participate in the follow-up research.

A truly effective anti-smoking drug may require targeting more than one receptor, he said.

“Nicotine influences complex brain circuits involved in reward” — mainly through the release of dopamine — “and memory,” Lindstrom explained.

“It has beneficial effects on anxiety and attention, among other things, thus making quitting very difficult. Withdrawal symptoms from quitting smoking make this worse.”

Nicotine treatments, such as “patches”, boost these reward circuits but can themselves be addictive.

Another widely-used drug reduces the craving and pleasure associated with cigarettes by partially blocking these other receptors.

“Restoring or increasing the aversion to high doses of nicotine may complement these approaches and increase their efficacy, or replace them,” Lindstrom said.

Paris, Jan 30, 2011 (AFP)

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    A mom whose four-year-old died after losing a battle to a brain tumor called Wednesday for tougher US regulation of chemicals suspected of being behind a rise in childhood cancers.

    “There’s growing evidence linking toxic chemicals and carcinogens in the environment with childhood cancer,” Christine Brouwer told a telephone news conference as she described losing a child to cancer.

    “I’ll most likely never know what caused my daughter’s cancer, but researchers are finding more and more links between the hazardous substances in our homes and workplaces and cancer and other diseases.”

    Brouwer’s daughter Mira underwent several operations and endured painful and nauseating treatments to try to beat the cancer she was diagnosed with just before her second birthday, on January 27, 2004.

    After several rounds of surgery and months of treatment, Mira’s cancer went into remission and she seemed to have won her fight against the ailment.

    But it came back on her fourth birthday, killing her weeks later.

    Her family questioned why the child was struck by such a serious illness so young, and Brouwer’s suspicions turned toward the chemicals found in cleaning fluids for the floors that babies crawl on, in the plastic of the bottles they drink from and in some of the foods they and their parents eat.

    Boston University professor of environmental health Richard Clapp said the incidence of childhood cancer in the United States has grown about one percent a year for the past two decades.

    “It’s clear that at least one component of the cause is environmental chemical exposure,” he said.

    Epidemiologists have linked chlorinated solvents to childhood leukemia and other solvents to brain cancer in children, said Clapp, who served as director of the Massachusetts Cancer Registry for 10 years in the 1980s.

    Pediatrician Sean Palfrey said doctors suspect chemicals and other environmental pollutants are behind a rise in everything from cancer to allergies to asthma in children.

    “The problem with our current situation is that we are putting so many chemicals out into our environment, and our bodies have no idea how to detoxify them, don’t know how to prevent them being absorbed,” he said, calling for tougher US laws on chemicals.

    Brouwer, Clapp and Palfrey were participating in a news conference organized by the Safer Chemicals, Healthy Families advocacy group, which says the 35-year-old Toxic Substances Control Act does not cover the vast majority of chemicals in US consumer products and urgently needs an overhaul.

    Washington, Jan 26, 2011 (AFP)

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    LV= announces that IFAs can now offer clients instant electronic valuations for LV=’s pension products via IntelliFlo’s award-winning Intelligent Office system.

    Intelligent Office is the UK’s fastest growing front and back office system, and offers clients a number of time efficiency tools. One of the key advantages is that all client information can now be directly accessed online. This means IFAs will spend less time tracking down valuable information and more time can be spent on the important – and ultimately more profitable – client-facing advisory work.

    Ray Chinn, head of pensions at LV= commented: “We launched our Defaqto ‘5 Star Rated’ Flexible Transitions Account in 2009 offering a flexible and transparent all-in-one pension solution. Improving how IFAs can interact efficiently, utilising online technology was a key next step on our development ‘roadmap’. We are pleased to be able to announce this link with IntelliFlo as a demonstration of our commitment in this market.”

    Nick Eatock, IntelliFlo’s chief executive officer added: “In a changing regulatory environment it is important that updates can be implemented continuously and instantly. In an effort to provide clients with the most up-to-date and efficient technology solution, IntelliFlo makes over 1,000 major enhancements to its software every year. Clients of LV= can rely on Intelligent Office and will benefit from a comprehensive range of features. We are proud that after a thorough market review LV= chose Intelligent Office as the most efficient tool in the marketplace – this is a fantastic start to 2011.”

    Source : LV= Press Release

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    According to a report released by Aon Hewitt, the global human resources consulting and outsourcing business of Aon Corporation (NYSE: AON), companies have little confidence that workers are taking the actions necessary to meet their retirement savings needs.

    Aon Hewitt’s survey of 210 mid-to-large U.S. companies representing 6.2 million workers reveals that just 38 percent of employers are confident that workers are taking accountability for their financial future, down from 43 percent in 2010. Further, fewer than a third (30 percent) of companies are confident employees are sufficiently prepared for retirement, showing no improvement from 2010. As a result, companies are increasingly focusing on adding features and making plan design changes to boost savings rates and promote responsible investing.

    In an effort to increase participation in savings plans, more companies are automatically enrolling workers into plans. In 2010, 57 percent of plans offered automatic enrollment, compared to just 24 percent in 2006. Of the plans that do not currently have this feature, more than one-third (36 percent) are likely to add it in 2011. Additionally, automatic contribution escalation is now offered by 47 percent of plans (up from 17 percent in 2006) and automatic rebalancing is offered by 49 percent of plans (up from 27 percent in 2006). These features continue to become more prevalent. More than a quarter of employers (26 percent) are likely to add automatic escalation in 2011, and a third are considering adding automatic rebalancing.

    “According to another recent Aon Hewitt report, only half of Generation Y workers who are eligible to participate in a defined contribution plan actually do so, leading to a significant gap in retirement savings,” said Pamela Hess, director of retirement research at Aon Hewitt. “Auto-enrollment is a relatively simple and effective way for companies to help workers plan for retirement—especially younger workers who may not feel the immediate pressure to save for retirement.”

    Once workers are enrolled in 401(k) plans, their investing habits are often suboptimal. Aon Hewitt research shows that many employees are not investing in a diversified portfolio, are taking inappropriate risk and very few rebalance their portfolio regularly, if at all. Therefore, more companies are offering tools and services to help participants make better decisions. To simplify investment decision making, more than half (56 percent) offer online investment guidance and 36 percent offer online investment advice and managed accounts. In 2010, just 28 percent of employers offered managed accounts. Further, a vast majority (83 percent) offer target-date funds, which often appeal to younger workers. As companies make changes to their defined contribution plans for 2011, many are adding solutions. In fact, nearly half (47 percent) are likely to add an online guidance feature, over a third of companies (36 percent) are likely to offer online advice and 30 percent are considering offering managed accounts.

    “Amid the recent market volatility there has been a dramatic difference in outcomes among people who sought out investment assistance versus those who have not,” Hess explained. “Employers are seeing the disparity and realize they need to step-up their efforts to ensure workers are saving adequately for retirement and have an investment strategy. At the same time, companies acknowledge the diverse needs of the workforce and understand that they need to offer a variety of investment advisory tools to meet the various needs and savings habits of their employees.”

    Companies are also increasingly focusing on services and products to help workers manage their nest-egg throughout retirement. Nearly two-thirds of employers (61 percent) provide online modeling tools to help employees determine how much they can spend each year of retirement based on their current savings levels. Additionally, more than one quarter (27 percent) already provide some form of retirement income solution. Nearly one in five plans (19 percent) facilitate annuities either outside, or within a plan and 13 percent plan to add one of these in-plan solutions this year, including managed payout funds, managed accounts with drawdown feature and annuities.

    “While employers continue to remain focused on helping workers save sufficiently to meet their retirement needs, they also understand that there is a need to assist workers in spending down their savings during retirement,” says Hess. “We expect an increasing number of companies to assess the marketplace and begin adopting new services and products, such as managed payout funds, managed accounts with drawdown feature and in-plan annuities.”

    Other key findings of the survey include:

    -Most companies (85 percent) plan to review their defined contribution fund operations in 2011, including fund expenses and revenue sharing. Further, nearly half (48 percent) indicate they will review the total plan cost more frequently and/or thoroughly during the year. Additionally, 69 percent of companies indicate they will increase the amount of employee communication surrounding investments and plan fees.

    -More than a third of employers (34 percent) offer Roth 401(k), up from 29 percent in 2010. Of those not currently offering this option, 38 percent indicate they will add the capability in 2011

    -Nearly a quarter (23 percent) of employers suspended or reduced company matching contributions in the past two years. Of those, more than half (55 percent) have already reinstated it in some form and 18 percent plan to reinstate or increase it in 2011. Another 11 percent plan to do so in 2012 or later.

    -A vast majority of pension plan sponsors (75 percent) plan to make no changes to plan design in 2011. However, more employers are likely to close or freeze their defined benefit plans in the coming year. Among the plans that have ongoing accruals for some or all employees, 16 percent say they’re very likely to freeze accruals during 2011, compared to just 9 percent in 2010. In addition, among plans that are open to new hires, 13 percent are very likely to close participation to new employees, up 4 percentage points from 2010.

    -Retiree medical benefits will continue to decline. Seven-in-ten employers provide some type of post-retirement medical coverage to their current or future retirees. Nearly two thirds (65 percent) currently offer prescription drug coverage to post-65 retirees and file for the Medicare Part D Retiree Drug Subsidy (RDS). However, only 53 percent of companies plan to keep the same strategy in 2013 when the health care reform law eliminates the tax-free nature of the Medicare Part D subsidy.

    Source : AON Hewitt Press Release

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      High smoking rates in the past, combined with widespread obesity, continue to chip away at US life expectancy compared to other wealthy nations, a study released Tuesday said.

      Over the past 25 years, life expectancy after 50 has risen in the United States, but at a slower rate than in countries like Japan and Australia, said the National Academy of Sciences report.

      The gap sounded the alarm among government researchers because the United States spends more on health care than any other country, said the study which examined mortality records in 21 countries.

      Men in the US showed an increase in life expectancy of 5.5 five years between 1980 and 2006 for an average lifespan of 75.64 years, while US women’s lifespans expanded from 77.5 to 80.7 years.

      “Three to five decades ago, smoking was much more widespread in the US than in Europe or Japan, and the health consequences are still playing out in today’s mortality rates,” said the report.

      “Smoking appears to be responsible for a good deal of the differences in life expectancy, especially for women.”

      Cigarette smoking also appears to have dented life expectancy in Denmark and the Netherlands, the report said, noting those two nations showed “lower life expectancy trends than comparable high-income countries.”

      Globally, women tended to pick up smoking later than men, and started quitting later than men, too.

      In 1980, average US life expectancy for women at age 50 was 30.6 years, similar to women in nine other industrialized countries.

      But in 2007, women in America gained just 2.5 years for a 33.1 year life expectancy at age 50, compared to gains of 6.4 years in Japan, 5.2 years in Italy and 3.9 years on average among the nine other rich countries.

      “Similarly, life expectancy in Japan is expected to improve less rapidly than it otherwise would, because of more-recent high smoking rates,” said the study.

      In a country where one in three people are overweight, obesity could also be to blame for “a fifth to a third of the shortfall in longevity in the US compared to other nations,” said the researchers.

      “And if the obesity trend in the US continues, it may offset the longevity improvements expected from reductions in smoking.”

      Women in Japan had the highest life expectancy — 85.98 years — just edging out France (84.39) and Italy (84.09) based on the most recent data, while men in Australia are living the longest — 79.27 years — followed by Sweden (78.92) and Canada (78.35).

      Washington, Jan 25, 2011 (AFP)

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      HSBC celebrated the success of over 240 of its wealth management employees who successfully completed the Chartered Insurance Institute’s (CII) diploma in financial planning and diploma in regulated financial planning.

      The successful candidates’ hard work and achievement was recognised at a graduation dinner on 12 January in the CII’s Great Hall.

      Noel Quinn, Group General Manager and Head of Commercial Banking UK, HSBC, said: “I would like to congratulate every one of today’s graduates. HSBC helps over 41 million people worldwide manage and save for their futures and our people are a key part of how we achieve this. All of today’s graduates have completed extensive study to gain these professional qualifications and this will further help them to provide our customers with the expertise and knowledge they expect from HSBC.“

      Steve Jenkins, director of financial services and insurance markets, CII, said: “All of these graduates should be proud of the commitment to professionalism they have shown by gaining these qualifications. The retail distribution review and recent economic events have created a challenging environment for financial services, and one in which consumers are looking for guidance and reassurance about their financial plans. By providing its employees with technical expertise and professional qualifications HSBC is showing a real commitment to meeting its customers’ needs.”

      Source : CII Press Release

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      The Association of Medical Insurance Intermediaries (AMII) has seen an unprecedented increase in membership over the past six months.

      Since the launch of the AMII/Chartered Insurance Institute (CII) PMI Exam last April, the Association has welcomed 15 new member firms and another 7 are currently being referenced taking the membership to over 100 firms.

      AMII has also recently strengthened its membership offering with an updated AMII website (www.amii.co.uk) and a “Find-A-Broker” search facility for members of the public to find a specialist healthcare intermediary. Other additional membership benefits are also to be announced at its AGM in May.

      New members are:  Best Private Healthcare, Buckland Harvester Insurance Brokers Ltd; Citymain Healthcare Ltd; Expatriate Insurance Services Ltd; Hightree Financial Services Ltd; J M Glendinning Life & Pensions; NDI Healthcare Ltd; Ponteland Healthcare Solutions; Professional Healthcare Solutions; Regency Health; R Pipe Insurance Consultants; The Health Insurance Specialists; Thomsons Online Benefits; Todd & Cue Ltd; Wellbeing Health Insurance.

      Michael Payne, General Secretary of AMII said: “We are delighted to see more health insurance intermediaries looking to demonstrate their professionalism in this specialist sector of the insurance market. They are doing this by taking the AMII/CII IF7 Healthcare Insurance Products exam and joining their profession’s Association.”

      “With the recent announcement by the Office of Fair Trading (OFT) of a review into the private healthcare market; current Government’s plans for reforming the NHS; and the replacement of the Financial Services Authority (FSA) by the Consumer Protection and Markets Authority (CPMA), we believe it is now more important than ever that the voice of the specialist healthcare intermediary is heard with representation from a strong Association that truly understands the unique requirements of this sector.”

      Source : AMII Press Release

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      The British Insurance Brokers’ Association (BIBA) is inviting nominations for the 2011 BIBA Young Broker of the Year Award.

      The Award, which carries a cash prize of £1,500, is now in its tenth year and is designed to recognise young brokers for their outstanding performance and encourages commitment to the future professionalism of the insurance industry.

      The Award will be presented on the 11 May at the 2011 BIBA conference, entitled “Opportunities in Adversity”, which is being held at Manchester Central from Wednesday 11 to Thursday 12 May.

      Award judges say they are looking to reward a rising star who has made a valuable contribution for the benefit of his/her company. To be eligible, the young broker should be able to demonstrate excellent performance, initiative, team spirit, and personal progression and professional commitment to broking.

      Eric Galbraith, BIBA Chief Executive, said: “It is very important that we continue to support the future generation of our profession and we are encouraging our members to nominate their younger achievers for this award. We aim to recognise the achievements of these professionals, who are dedicating themselves both on a professional and educational level.”

      Entries should be submitted to an applicable BIBA region with the regional winners put forward to the national award.

      The national award judges are: Ian Dickinson, Brunsdon Group LLP; Grant Scott, R A Cowen & Partners Ltd; Neil Grimshaw, Ravenhall Risk Solutions Ltd; and Kirsty Wingrove, BIBA.

      The deadline for entries is Thursday 31 March 201. Brokers wishing to nominate an individual for this award are advised to contact Kirsty Wingrove on 020 7397 0224 or at wingrovek@biba.org.uk

      Source : BIBA Press Release

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      Brit Insurance, the international general insurance and reinsurance group, is pleased to announce the appointment of Robin Murray as Property and Combined Underwriter in its Glasgow office. He takes up his new role immediately.

      Robin will report to Suzanne Sahadew, Head of the Property and Combined Team. In his new role, he will be responsible for the underwriting and development of new business and renewals, working closely with local brokers and responding to their needs in this sector.

      Robin has over 20 years of underwriting experience in the UK commercial market. He joins from Giles Insurance Brokers where he was Corporate Partner Development Manager, responsible for the management of the migration and the development of new business. Prior to this, Robin held senior underwriter roles at AXA Insurance, focusing on technical underwriting and building relationships with key partners.

      Andy Fitzgerald, Regional Manager for Scotland and Northern Ireland, commented:

      “Property and Combined is an important part of our offering and Robin’s appointment reflects our desire to continue to develop a profitable book of business. His wealth of industry experience combined with his technical underwriting expertise will complement the existing skills within our Glasgow Team and our UK business.”

      Source : Brit Insurance Press Release

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      Sweden has told the head of the global fund to fight AIDS that it will not pay its 167 million euro contribution unless more is done to ensure the cash is not siphoned off, a report said Saturday.

      Michel Kazatchkine, the executive director of the Global Fund to fight AIDS, Tuberculosis and Malaria, said that Sweden’s refusal to meet its commitments would have a major impact on his organisation’s plans.

      But after talks with Kazatchkine in Stockholm on Friday, Development Minister Gunilla Carlsson said that Sweden felt more had to be done to prevent its cash falling victim to corruption among recipient countries.

      “We are paying greater heed to the danger of corruption so before we commit ourselves to aid, we want to see practical measures put in place to combat this problem,” the minister was quoted as saying by the Svenska Dagbladet daily.

      According to the paper, Sweden has refused to stump up its 1.5 billon krona (167 million euro, $226m) contribution for the period covering 2011-2013 since a report by the United Nations last year showed how donors’ cash had been diverted by corrupt officials in at least four countries.

      Sweden is the biggest per capita contributor to the fund which was created by the G8 group of industrialised nations in 2002.

      The Swedish contribution “is a significant amount of money for us,” Kazatchkine was quoted as saying by newspaper.

      “The fact that Sweden is stalling on its commitment is not a good sign. We need to know quickly whether we can pour our energies into our aid projects,” he added.

      “We also believe that we have demonstrated a much greater degree of transparency and that we are doing everything that we can to fight corruption.”

      The fund, which has an overall budget of 21.7 billion dollars drawn from

      150 countries, is the largest single source of funding for three of the world’s biggest killer diseases.

      Stockholm, Jan 22, 2011 (AFP)

      1 5

      The federal government made more grants available to U.S. states on Thursday for establishing open marketplaces for health insurance, with no limits on how much funding the states can seek.

      Health and Human Services Secretary Kathleen Sebelius told reporters on a conference call that her department will be vigilant about checking the budgets that states submit with their applications and about helping them keep their expectations realistic about how much they will receive.

      But she said there was no “precise amount” of money available.

      Already, 48 states and the District of Columbia have received planning grants equal to $1 million each for the health insurance exchanges, a key part of the healthcare plan President Barack Obama signed into law last March.

      Through the exchanges, individuals, families and small businesses will be able to buy affordable insurance, with insurance companies competing for their business by lowering premium charges, Sebelius said. Currently, larger businesses have an advantage in negotiating premium costs.

      The law did not specify how each state must operate the exchanges and kept requirements broad, allowing states to work together on exchanges or opt out of creating a marketplace.

      Many state-level administrators are concerned about having the exchanges up and running by 2014, when the law requires them to be operational, because they have no model to follow.

      Because different states are at different points in establishing the exchanges, the federal government will remain flexible in awarding this round of grants, Sebelius said.

      She said the federal government will also rely on the states to help each other in establishing the exchanges. For example, if one state creates an effective information technology system, the federal government see it is shared with others.

      States are charged with implementing many of the law’s major provisions, along with the exchanges. Even though more than half of all states are challenging the law in federal courts, almost all are going ahead with putting the reforms in place in case the courts uphold the law.

      Source : Reuters

      0 0

      Financial advisers are getting to grips with the Retail Distribution Review (RDR), according to Aviva’s latest intermediary research. With two years to go until RDR takes effect, more than three quarters (76%) of advisers believe they will still be in business on 1 January 2013.

      This figure has been climbing steadily over the last two years, and the number of advisers who believe they are unlikely to be trading in 2013 has dropped to just 10%. Two years ago, 50% thought they would still be in business, and 21% believed they would drop out.

      Advisers are also making progress with preparing for RDR:

      – The percentage working towards gaining further qualifications is up to 69% (from 57% in January 2009).

      – Advisers adopting adviser charging is up to 52% (from 28% in October 2009).

      – The percentage of advisers adopting platforms stands at 28% (up from 26% in January 2009).

      And when asked which trading model they intend to operate, two-thirds of advisers (65%) plan to offer independent advice, 15% say they will offer a multi-advice model, and 6% intend to offer restricted advice. Just 15% of advisers have not yet decided which model to adopt, or intend to leave the market.

      Simon Badley, director of intermediary at Aviva, said: “It’s really encouraging to see increasing numbers of financial advisers getting to grips with their RDR preparations, and giving consideration to important decisions such as which trading model they plan to adopt.

      “At Aviva we want to see intermediaries survive and thrive over the coming years. We’re putting time, effort and resources into supporting advisers with their RDR preparations, including our popular FinancialAdviserAcademy, our Future Adviser Programme and our Adviser Briefings, which give intermediaries the information they need to be fully informed about future changes in our industry and help them get ready to trade successfully in future.”

      Source : Aviva Press Release

      0 0

      New claims for US unemployment insurance fell more than expected last week after a sharp spike the week before, official data showed Thursday.

      Initial jobless claims fell to 404,000 in the week ending January 15, a drop of 37,000 from the previous week, the Labor Department said.

      The department revised downward the claims for the previous week, to 441,000, the highest number since mid-November. The initial estimate was 445,000.

      The new reading was better than the average analyst estimate of 425,000 and in line with a downward trend in claims over the past five months.

      “It’s essentially returning us to where we were before the large increase last week,” a Labor Department official told reporters.

      The four-week moving average, which helps to smooth weekly volatility, fell by 4,000 to 411,750.

      Washington, Jan 20, 2011 (AFP)

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