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Zurich Financial Services Group announced today they enter into exclusive contract negotiations with CSC for the provision of data center and information technology (IT) infrastructure managed services in Europe and North America and covering data center centralization and server virtualization.

CSC and Zurich are currently negotiating a ten-year master service agreement which will provide for country specific agreements to be entered into by the parties. The potential total contract value is estimated to be approximately up to $2.4 billion assuming provision of the full scope of services over the ten-year term. Services are expected to commence under the master service agreement and one or more country specific agreements in the first half of 2010.

The exclusive negotiation period is for six months. Any agreements are subject to regulatory and other approvals and notifications, including certain workers councils. There can be no assurance that CSC and Zurich will reach a final agreement on the master service agreement or any particular country agreements, that required approvals will be received, or that a transaction will take place.

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There are several ways to apply for an EHIC but the quickest way is to apply online.  Your card will normally arrive within seven days. You can also apply by phone on 0845 606 2030 or by post using an application form available from your local post office.

Your application can be just for yourself, but you can also apply on behalf of your partner and any children in full-time education under the age of 18. If you are under 16, your parent or guardian will need to apply for you. Boarding school teaching staff can also apply on behalf of any children in their care.

Each person you’re applying for will need to provide details of their full name, date of birth and National Insurance or NHS number (CHI in Scotland or Health and Care Number in Northern Ireland).

Most people can apply online or via phone but you will need to apply by post in the following circumstances:

  • If you are not a national of the UK, EEA or Switzerland.
  • If you are already working abroad but remain UK employed or self employed.

If you need to update your personal details or add a dependant, speak to the EHIC enquiries team on 0845 605 0707.

Renewing an EHIC

An EHIC is valid for 3 to 5 years depending on when it was issued. You will need to apply for a new one before the expiry date.  You can apply up to 6 months before the expiry date. The easiest way to apply is online.

Alternatively phone 0845 606 2030

You can also apply by post an application pack is available from all Post Offices. However, postal applications will take longer.

Remember to check the expiry date on your EHIC before you start travelling.

Replacing an EHIC

If you need to replace a lost EHIC, call 0845 606 2030.

If your EHIC is lost or stolen while you are abroad, you (or someone on your behalf) should apply for a Provisional Replacement Certificate (PRC), which will provide you with the same cover as an EHIC until you return home. To do so, call the Overseas Healthcare Team (Newcastle) on 0044 (0)191 218 1999. It’s a good idea to save this number in your phone. (Mo-Fri, 8am – 5pm)

To get a PRC you will need to provide your name, address, date of birth and National Insurance/NHS number (CHI in Scotland or Health and Care Number in Northern Ireland).

Source : NHS Choices

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Environmental risk ranked lower as a concern in Europe than any other region in Aon’s Global Risk Management Survey 2009 – despite the introduction of the EU Environmental Liability Directive (ELD). At the Federation of European Risk Management Associations (FERMA) conference in Prague on 4th October, the global insurance broker and risk adviser is warning European firms to wake up to the reality that this legislation could see companies held liable for unprecedented costs for clean up and restoration of environmental damage.

Simon Johnson, Aon’s environmental director for UK and EMEA, said: “There is a common misconception that the ELD is just about ongoing operational pollution issues. The reality is the ELD significantly increases liability in the EU for operators that cause environmental damage, regardless of how that damage is caused. The fact that environmental risk ranked 32nd as a concern in the survey is worrying because risk managers are seemingly lulled into a false sense of security, believing they have no exposure or their pollution strategies are under control.

“This ignores exposure to the impact an unpredictable one-off event on the environment could have on the balance sheet. It’s about preparing for the low frequency, high severity event by having insurance in place that covers all the risks, damages and losses that could occur.”

Case study
A riverside factory operation catches fire due to an electrical fault. The debris from the fire spreads to the river and poisons the local fish supply damaging the aquatic environment. The ELD, which became law in 2007 across the EU, requires companies that cause environmental damage to restore the environment to its previous condition. In this case, the operator of the facility would have to pay for the clean up of the area and restoration of the damage caused including replenishing the fish stocks and re-establishing the aquatic environment. This represents a potential and significant gap for European companies and subsidiaries under their existing general liability policies. In response to the legislation, the insurance market offers environmental liability programmes and cover for such damages, costs and losses.

While there is a minimum legal transposition of the ELD, some countries have taken this further by introducing compulsory financial security arrangements for the riskiest operators in industries such as chemical production and waste management. Spain has set the precedent and the Czech Republic – FERMA’s host country this year – is set to follow in 2012.

Dr Johnson added: “Risk managers need to review the ELD and their operations in relation to their insurance programmes as there will be gaps. US companies with European subsidiaries are becoming increasingly aware of their potential exposures and in turn we’ve seen a higher take up for environmental liability insurance. We’re encouraging European risk managers to adopt a similar strategy in protecting against uninsured environmental damage.”

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Swiss Re, Oxfam America, The Rockefeller Foundation and The International Research Institute for Climate and Society at Columbia University (IRI) announced a joint Commitment to Action at the Clinton Global Initiative (CGI) 2009 meeting in New York on 22 – 25 September. Aimed at helping communities most vulnerable to climate variability and change, the collaboration will expand on their joint 2008 commitment focused on using risk reduction and risk transfer skills to improve financial and food security for farmers within the drought-prone village of Adi Ha, Tigray Regional State, Ethiopia.

Drought-related risks are a primary concern throughout Ethiopia where 85% of the population is dependent on smallholder, rain-fed agriculture.   Education and exposure to micro-insurance, increased access to credit and improved risk management techniques are necessary measures for these populations to effectively adapt to the changing climate.

The 2009 commitment builds on the success of the 2008 pilot project in Adi Ha.  After conducting workshops on climate change, financial literacy and insurance, the pilot weather risk insurance project achieved uptake by 20% of the village (200 households), with 38% of enrollees from female-headed households (recognized as the poorest of the productive poor). 65% of enrollees were participants in Ethiopia’s Productive Safety Net Program (PSNP is a federal cash-for-work program that serves 8 million chronically food insecure households in Ethiopia) and most work on projects designed to build greater resilience to climate change within their communities in return for cash they use to pay for crop insurance.

David Bresch, Head of Sustainability & Emerging Risk Management for Swiss Re, commented, “Swiss Re is delighted to build on the success of our work with Oxfam and other partners to expand the pilot program in Ethiopia to five new villages. This expanded project will provide further validation on useful techniques that allow communities in developing countries to adapt to the changing climate.”

The pilot project is part of the collaborative Horn of Africa Risk Transfer for Adaptation (HARITA) project including Swiss Re, Oxfam America and numerous additional international and Ethiopian organizations.

This year’s commitment will expand the program to include at least one new crop and test the pilot model in four new villages in Tigray, and one in Amhara. Weather index insurance for rain-fed cereal farmers is proposed to be expanded utilizing two new automatic weather stations to cover the four new villages.

The Rockefeller Foundation, which has a $70 million initiative focused on building resilience to climate change within the developing world, has provided over $565,000 in additional funding for this commitment based on the success on the 2008 initiative, and the potential of the expanded 2009 program.

The efforts will be funded by Swiss Re and the Rockefeller Foundation and implemented by Oxfam America. The International Research Institute for Climate and Society at Columbia University will provide primary technical support. IRI has been at the forefront of weather index insurance initiatives aimed at meeting the needs of developing countries.

Oxfam America President Raymond C. Offenheiser said, “The expansion of the pilot project is an example of how collaborative projects such as HARITA can promote household food security, increase the impact of our risk reduction programmes including climate adaptation and provide guidance on the necessary measures to scale the pilot successfully in Ethiopia and beyond.”

Rockefeller Foundation President Dr. Judith Rodin said, “The Rockefeller Foundation is proud to support the efforts of Oxfam and Swiss Re as we help protect smallholder farmers from the devastating impacts of climate change. As the climate crisis jeopardizes agricultural yields and food security, vulnerable communities around the world will need innovative insurance products to strengthen their resilience.  This pilot represents important progress toward developing and expanding access to them.”

Swiss Re has pioneered weather risk transfer instruments in developing countries, starting in India in 2004 with a program reaching over 350,000  smallholder farmers. In 2007, Swiss Re introduced the Climate Adaptation Development Programme (CADP). The goal of the CADP partnership is to develop and implement weather risk transfer solutions in non-OECD countries.

Oxfam America is the US affiliate of Oxfam International, a confederation of 13 organizations working together with over 3,000 partners in more than 100 countries to find lasting solutions to poverty, suffering and injustice. Over the last 35+ years, Oxfam America has worked to bolster impoverished communities’ capacity to reduce vulnerability. At the heart of OA’s work is its aim to reduce risk. Nevertheless, climate change is dramatically increasing the global level of risk across the planet, and human intervention can do only so much to eliminate it. For this reason, OA recognizes the equally urgent need to develop formal risk transfer mechanisms that address questions of residual risk.

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Kiln, the international insurance and reinsurance underwriting group, announced toady its entry into the space market with the appointment of specialist space underwriter, Laurent Esquirol, who will write business from its Paris office.

Laurent has 15 years experience in the sector, having worked for seven years in the space industry before moving to SCOR where, as senior space underwriter for eight years, he developed the space book into a successful business. He will join aviation underwriter Philippe Daouphars in Paris on 2 November 2009.

Capacity for the new account will be supplied by Kiln syndicates 510 and 1880, subject to Lloyd’s approval.

Olivier Terlinden, regional managing director for Europe said: “It is fantastic to be able to attract someone of Laurent’s calibre and experience to Kiln. Paris has long been recognised as a focal point for space insurance, and Laurent’s track record and the strength of his relationships in this specialist area will complement Kiln’s existing aviation business.”

Laurent Esquirol said: “I am delighted to be joining Kiln, a business with such an excellent reputation, and ambition to grow in Europe. I look forward to developing this new area at Kiln.”

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Pearl Group announces the appointment of Ron Sandler CBE as Chairman of Pearl Group, with immediate effect. Ron brings will be responsible of wealth of financial services and corporate governance. His proven track record and understanding of the UK insurance industry will prove invaluable to Pearl development as a public company.

In addition, Tom Cross Brown is appointed as new member of the board with immediate effect: Tom has been a Director within the Pearl group since 2005.
Financial highlights

  • Operating cashflow in excess of £250m in H1 2009, and significantly in excess of the Group’s debt service obligations
  • Gross embedded value stable at £4.7bn. Pro forma net embedded value of £2.1bn following the acquisition of the Pearl businesses
  • Significantly improved Insurance Groups Directive (IGD) surplus. Pro forma IGD surplus of £1.1bn represents 140% coverage of regulatory capital requirements, compared to an ongoing target of 125% coverage

Operating highlights

  • Completion of the acquisition of the Pearl businesses on 2 September 2009
  • OIVOP (Own Initiative Variation of Permission) imposed in November 2008 by the FSA lifted on completion of the acquisition
  • Continued improvements in operating efficiency through site closures (Glasgow life company and Peterborough)
  • Value creation through fund mergers and restructurings
  • Actively pursuing UK listing – secondary listing on the London Stock Exchange expected in Q4 2009. Will seek a transition to a primary listing during 2010

Jonathan Moss, Group Chief Executive, said: ”Ron’s appointment today further strengthens our leadership team. Pearl is now established as the UK’s leading specialist closed life fund operator. We have a strong capital base and robust cash generative operating model combined with well known market brands. We have set out a clear strategic and operational plan to deliver value from our existing business and are well positioned to participate in further consolidation in the UK closed life fund sector.”

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According to Motor Insurer’s Bureau (MIB), more than 1.7 million people are breaking the law by driving a car without insurance, according to research.

An estimated 13% of all cars in London are uninsured, making it the worst offending area in the country.

Merseyside was almost as bad, with 12% of vehicles thought to be uninsured, followed close behind by Greater Manchester at 10%.

Sharing joint fourth place for the highest number of uninsured cars at 7% were West Yorkshire and the West Midlands. Six of the top ten worst postcodes for people illegally driving without cover were also within the West Midlands.

However, in Barkerend’s BD3 postcode, in Bradford, West Yorkshire, almost 50% of all vehicles were uninsured.

Ashton West, MIB chief executive, said: “The fact that 1.7 million motorists still take to the roads without insurance is staggering; but there is no doubt that the number of drivers caught each year is increasing significantly, so drivers simply cannot afford to be complacent.

“Indeed, the number of drivers across the UK who were caught without insurance last year would fill Wembley Stadium more than twice. The message to motorists is clear: driving uninsured is simply not worth the risk.”

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With insurance premiums for younger drivers sky high, and one in five people getting behind the wheel without motor insurance, Brits believe young motorists caught driving without insurance should face tougher penalties, according to research from moneysupermarket.com1

Highlights :

  • Two thirds of Brits believe in tougher penalties for younger drivers caught uninsured
  • 33 per cent more uninsured drivers on the roads this year compared to 2008

The survey found two thirds of Brits (62 per cent) think motorists caught behind the wheel without adequate motor insurance should face heftier penalties than are currently being enforced. In addition, 18 per cent think the driving age should increase from 17 to 21 and 16 per cent think either the Government or the motoring industry should subsidise younger drivers to stop them getting behind the wheel uninsured.

Steve Sweeney, head of motor insurance for moneysupermarket.com said: “While 17-year-olds will be rubbing their hands with glee at finally being able to own their own motor, most will be in for a big shock when trying to insure their car. Insurance providers view younger drivers as high risk and often inflate premiums to reflect this. Despite this, young drivers should not use this as an excuse to get behind the wheel uninsured. It is vital this age group compares as many premiums as possible to get the best possible deal.

“Premiums can run into the thousands meaning they are out of reach for many drivers; however I don’t think harsher punishments are the right way to combat this. We need a solution, not more fines. Some car insurance providers had piloted a ‘pay-as-you-drive’ insurance scheme which saw lower premiums for Britain’s younger motorists. It also made them think twice about driving their cars unnecessarily. I would suggest it is time for the insurance industry to revisit these innovative models to help drive down the cost of insurance.

“The Government could also take a look at driving tests and whether they should be changed to reflect actual driving habits. More lessons for younger drivers, the inclusion of motorway driving and lessons at night could reduce the underwriting risks associated with younger drivers.”

Additional research also found the number of motorists driving uninsured across all age groups has risen by a third (33 per cent) compared to 2008[2]. A fifth of motorists (20 per cent) have broken the law compared with 15 per cent in 2008[3] – stark figures considering last week’s announcement on new rules against Brits who leave their cars uninsured. They could face fines of up to £1,000, even if the car is off the road and is kept in a garage or on a driveway. The law change will still exempt cars from having cover if it has a valid Statutory Off Road Notification (SORN).

Steve Sweeney continued: “It is disappointing to see so many drivers taking to the roads uninsured and it’s worrying that this number has increased to a staggering 33 per cent from the 2008 figures. The onset of recession may mean more motorists are unable to afford the cost of their insurance but, whatever the distance driving without insurance is illegal. Anyone caught doing so could face hefty penalties which include a £200 on-the-spot fine and six points on their licence.  There’s also the possibility of the car being impounded – involving a £150 collection charge and £20 per day charged for storage.”

Top tips to reduce the cost of motor insurance:

  • Keep it safe : insurers look at the risk every driver presents, so you’ll get a better deal if you can reduce that risk. By keeping the car off the road at night in a garage or on a drive you make it safer, meaning your premiums will come down.
  • Pick a smaller engine : if you’re struggling to pay your insurance then give some thought to the car you’re driving. The bigger and faster the vehicle, the more it will cost to insure.
  • Shop around : this is one of the easiest ways to save money. Don’t assume that your current provider is giving you the best renewal quote but look at other insurers using car insurance comparison tool and see if you can save.
  • Pass Plus : if you’re a new driver then you’re going to be the worst hit by rising prices. Take the time to sit your Pass Plus and insurers will see that you’re safer, helping you reduce your premiums by as much as 36 per cent.
  • Up the excess : agreeing to pay a higher excess, such as £500 instead of £100, can reduce your premiums. Don’t forget that this is what you will need to pay in the event of a claim, so be sure you can afford it.
  • Reduce your mileage : when applying for insurance, you estimate the number of miles you’ll do each year. If you aren’t travelling much then you’ll usually pay less. That means that if you car share with a colleague or decide to take the train a couple of times a week, you can bring down the price.
  • Add an older driver : if you have a partner or parent who is more experienced behind the wheel, adding them to the policy can sometimes reduce what you pay. Whatever you do, don’t make them the named driver, though. This is called fronting and could invalidate your insurance.
  • Ensure it’s adequate : as you look for the lowest price, don’t be tempted to scrap things you really need. It might cost more to have a courtesy car or legal fees paid, but if you need it then include it. Skipping extras that you can’t do without will be a false economy if you do need to claim.
  • Don’t commit fraud : when you’re trying to reduce what you pay, it can be very tempting to avoid telling the whole truth, but this is a dangerous tactic. By misleading your provider, you are committing insurance fraud. That means your cover isn’t valid and if you caused an accident you could be responsible for all the costs yourself.



[1] The research web poll was carried out between 1 September – 6 September 2009 on the moneysupermarket.com forum; with a total number of 1868 responses.

Q. What should be done about young drivers who don’t buy insurance?

The Government should subsidise young drivers (7.7 %)

The Industry should subsidise young drivers (7.8%)

Other motorists should subsidise young drivers (1.8%)

The driving age should increase from 17 to 21 (18.1%)

The punishments for driving without insurance should be tougher (62%)

None of the above (2.5%)

[2] Research undertaken by Opinium Research based on an online poll of 2,386 British adults between 27 February and 03 March 2009. Results have been weighted to nationally representative criteria. www.opiniumresearch.com

[3] Research conducted by Opinium Research in an online survey of 2,001 UK adults between 12 and 15 February 2008. Results have been weighted to nationally representative criteria.

In 2008 15 per cent of motorists admitted to the offence compared to 20 per cent in 2009.

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    Munich Re, RSA Insurance Group (RSA), and CarbonRe, with support from the Global Environment Facility (GEF) and the United Nations Environment Programme (UNEP), have launched an innovative mechanism for insuring renewable energy projects in developing countries. The global renewable energy insurance facility, which will be operated via the new internet website “insurance4renewables”, will offer standard and customised insurance solutions for renewable energy projects in developing countries.

    Risk management and risk transfer are key components in the successful development of renewable energy projects. Without adequate insurance cover, the planning, construction and operation of mid- to large-scale renewable energy projects would not be viable. This initiative sends a strong message to the international community, who will be meeting at the end of the year in Copenhagen to agree on a crucial post-Kyoto climate change framework agreement. It shows that the right environment can be created to ensure growth and sustainability of renewable energy investments and that all countries can benefit from and contribute to the climate change mitigation efforts. Nearly one third of global investments in renewable energy projects are happening in developing countries. This share can grow at a faster pace if insurance solutions for renewable energy projects are made extensively available to developing countries in the same way as they have been made available in industrialised ones.

    To address this need, RSA, Munich Re and CarbonRe have jointly launched “insurance4renewables”, a global renewable energy insurance facility that will be operated online at http//www.insurance4renewables.com. This innovative risk management approach was developed under the umbrella of the United Nations Environment Programme (UNEP) and the Global Environment Facility (GEF). Both UNEP and GEF are seeking to raise investors’ awareness of risk mitigation solutions for renewable energy projects and build public-private partnerships to bring necessary standard and innovative risk mitigation tools to developing countries’ markets.

    Insurance4renewables is intended to offer tailor-made products for renewable energy projects and to support the development of insurance solutions that meet the requirements of renewable energy projects operating in developing countries where often the lack of data provides a barrier to insurers who aim to underwrite a number of renewable energy risks. CarbonRe, an insurance broker specialising in clean energy projects, is the appointed broker for access to this unique facility. CarbonRe will work together with two leading global insurance groups. This network will offer outstanding expertise embracing a broad spectrum of technologies such as wind power, photovoltaics, solar thermal and biomass and biogas systems in every phase of construction and operation. Besides the traditional insurance products for construction, operation and transit, the facility will be offering on a case–by-case basis innovative covers such as carbon counterparty credit risk insurance, carbon all risk insurance, carbon delivery guarantee insurance/Kyoto Multi Risk Policy and lack-of-sun/wind insurance.

    The partners in the initiative will continue to expand the website’s range of offerings as the demand for products and information grows.

    Monique Barbut, Chief Executive Officer of the GEF said: “Creative market mechanisms are unleashing investment, innovation and furthering the penetration of wind and solar to geothermal and other clean tech energy systems. Insurance has an important role, especially as more developing countries climb on board the clean energy train. Thus I welcome this innovative insurance4renewables initiative as a part of the catalysts towards a sustainable 21st century.”

    Achim Steiner, UN Under-Secretary General and UNEP Executive Director, added: “Renewable energy is one of the key factors in the transition towards a low-carbon, resource-efficient green economy. Also a key to accelerating access to electricity for the two billion people without it.”

    Peter Röder, member of Munich Re’s Board of Management: “The initiative shows yet again how public-private partnerships can give rise to something meaningful and how expertise creates value that benefits everyone. Munich Re has been drawing attention to the necessity of climate protection for a long time, and generating energy from renewable sources is an important part of this. With our know-how, we can offer customised insurance covers for such systems. That benefits the climate, the client and us as a company.”

    “We recognise the importance of renewable energy in developing countries and are pleased to be able to provide insurance solutions that will better enable the achievement of their energy goals”, added Ken Norgrove, CEO of Renewable Energy, RSA.

    Dirk P. Kohler, CEO of CarbonRe: “Risk management and risk transfer is key to the successful development of renewable (clean) energy projects, and insurance4renewables will provide the best available insurance and reinsurance services to boost projects in developing countries and emerging markets.”

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    QBE’s rapidly expanding European operations saw a further success this week, with QBE’s French operation being awarded a public tender by SNCF, France’s national rail operator, for its comprehensive General Liability programme. The new business demonstrates QBE’s growing cross-class abilities, as QBE already participates in the SNCF Property programme, and it is also the first significant General Liability win for the French corporate accounts business.

    The new three year programme will see QBE become the lead insurer on the layer excess of €150m, and participate to layers up to €500m.

    Commenting on the deal, General Manager for QBE in France, Jean Basset said: “This successful tender is a strong signal to the French General Liability market. It is the first time QBE has provided a significant capacity on a General Liability corporate account in France, and we are delighted to be selected by such a wellknown name as SNCF.”

    In a joint statement Ash Bathia, Managing Director of Casualty for QBE European Operations and Doron Grossman, Managing Director of European Markets for QBE, said: “This is a fantastic win for QBE, demonstrating as it does, our successful expansion into a new class of business in this France. “This cross-class growth is facilitated by our programme of utilising skills across different regions to support our clients. In this case the win is an excellent example of intelligent collaboration between local underwriting and distribution capability, supported by QBE’s global technical expertise.”

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    Sterling Insurance Group announced today that they have been added to Regal Insurance panel (part of Castle Cover), providing mid net worth insurance to customer throughout the UK.

    Sterling Insurance Company Ltd has been insuring higher value homes for over 50 years and commenced their partnership with Regal during Summer 2009.  Sterling pride themselves on their excellent service and flexible approach to underwriting.

    James Guthrie Senior Development Manager at Sterling says they are excited to embark on this new partnership: “Sterling is all about providing unparalleled service to customers. At Regal, we know that the over 50’s are more discerning about the service they receive and we are delighted to be working in partnership with a company who has a passion for service excellence second to none.”

    Andy Bray, Marketing Manager at Regal said “Regal Insurance is committed to providing their customers with the very best products, service and support. We are confident that by adding Sterling Insurance to our panel of insurers this will further enhance our plans to become a major player in the mid net worth market.”

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    QBE is pleased to announce the appointments of Matt Roles and Mark Beattie as Portfolio Managers to its London Market property team. Matt comes to QBE from RSA, where he spent over twenty years in a variety of commercial and property underwriting roles, and gained a wide experience in the sector, most recently as an underwriting manager for their large UK and global business.

    Mark Beattie joined QBE in February 2009 from BRIT Insurance, where he was responsible for the development of UK corporate property business, bringing with him over 22 years of experience within the industry, with over ten years spent as a London market property specialist.

    At QBE the pair will work together to further develop the London market property account, under the direction of Peter Fice, Head of London Market Property. They will concentrate on the acquisition and retention of major clients broked into London.

    Peter Fice, Head of London Markets for the Property Division of QBE European Operations, said: “QBE’s property division has been growing rapidly under the leadership of Bernard Mageean. Following a number of new recruits and the acquisition of Endurance, the team has now settled into its new expanded structure, and begun to look ahead to the next stage.”

    “London market is one area where QBE has identified real opportunities to develop and, through the specialist underwriting approach we adopt, backed by strong risk management, we are beginning to attract quality profitable business to the company, along with talented people like Mark and Matt, who can help us to further drive our growth plans.”

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    With the motor insurance renewals boom period in full swing and many drivers looking to get the best deal, News-Insurances.com warns that specialist insurers for women drivers may not always provide the best value option for motorists.

    • ‘Women-only’ motor insurers are selective in who they choose to cover so will not always quote the best value premiums
    • Scour the market when renewing to ensure you get the best value policy to suit your needs

    Research from the UK’s leading price comparison site, which analysed over half a million motor insurance quotes for women, has found specialist female-only brands are selective about the type of customer they insure and will not always give  the best value premiums. The average premium for specialist female policies is £733 – more expensive than many traditional providers (see table below). Specialist insurers, such as Sheilas’ Wheels and Diamond, will be competitive for some women drivers; however they are selective in the type of risk they will insure for. For example they may only return a quote for customers who have built up a certain no claims bonus, or have held a full driving license for a certain period of time.

    Steve Sweeney, head of motor insurance  at moneysupermarket.com, said: “The motor renewals season is at its peak meaning more people are looking to bag themselves the best deal on their motor insurance. As our research highlights, going down the specialist insurer route may not be the best option for some drivers. These brands market themselves to be the cheaper alternatives for the likes of older drivers and women, and while this is true for some drivers, for others this is not the case. This just goes to prove that shopping around for the best deal is crucial. While specialist insurers do offer added benefits, such as handbag cover and priority assistance in emergencies on women-only policies, I would advise Brits to weigh up whether these additions are actually worth the extra money.

    “When looking for car insurance, I would advise against simply sticking with your existing insurer. Loyalty doesn’t pay and our research shows motorists could save on average £157 by shopping around for the best deal. I would advise anyone unsure about whether to go down the specialist insurer route or stick to more traditional providers to weigh up all their options and find the right policy which suits their needs.”

    Average premiums for female only motor insurance providers

    Provider Name

    Average Provider Premium

    Average Position in Results Table

    Sheilas’ Wheels

    £337.58

    24

    Diamond

    £730.66

    38

    Diva

    £851.84

    22

    Women on Wheels

    £873.16

    37

    LadyBird(OpenGI)

    £873.46

    38

    Average

    £733.30

    32

    Based on 516,995 female motor insurance quotes from 24/07/2009 – 01/09/2009

    Women Only (Female Teacher aged 30) 

    Insurer

    Premium

    Swiftcover

    £373.91

    Hastings Essential

    £425.60

    LV=

    £428.89

    Average

    £409.47

    Specialist

    Premium

    Sheilas’ Wheels

    £429.41

    Women on Wheels

    £614.60

    D!VA

    £626.73

    More Th>n
    (Womens Driver’s Ins)

    £636.49

    Ladybird

    £674.54

    Diamond

    £727.85

    Average

    £618.27

     

     

    Difference

    £208.80

    Women Only (Female Teacher aged 45) 

    Insurer

    Premium

    LV=

    £203.69

    esure

    £209.58

    Swinton

    £218.87

    Average

    £210.71

    Specialist

    Premium

    Sheilas’ Wheels

    £205.13

    D!VA

    £211.93

    Ladybird

    £290.07

    Women on Wheels

    £305.53

    Diamond

    £559.85

    Average

    £314.50

     

     

    Difference

    £103.79

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    Chicago United, a membership organization that promotes corporate diversity and inclusion, today announced the recipients of the 2009 National and Chicago Bridge Awards.  Michael E. Szymanczyk, chairman and chief executive officer of Altria Group, Inc., will receive the National Bridge Award for exemplary practices of a Fortune 500 corporation and Gregory Case, president and chief executive officer of Aon Corporation, will receive the Chicago Bridge Award for supporting the development of a vibrant and richly diverse business community in the Chicago region.

    The awards will be presented at Chicago United’s 6th Annual Changing Color of Leadership Conference and Bridge Awards Dinner on November 10 at the Hilton Chicago.  A committee of corporate and non-profit executives, entrepreneurs and academics selected Szymanczyk and Case as the Bridge Award recipients based on an examination of publicly-available data along with select qualitative attributes of the company, such as supplier and workforce diversity.

    The National Bridge Award represents the first national award that honors a CEO who is an advocate for multiracial diversity in corporate governance and executive level management. This award brings visibility to those who have managed change, and inspires others to follow.

    “I have the privilege of leading a company with a rich history of supporting diversity and inclusion at all levels, including our board of directors,” said Szymanczyk. “We believe that engaging our entire organization to bring diverse perspectives together in real conversations about business issues produces the best thinking and the best results. The prestigious National Bridge Award recognition is a testament to Altria’s commitment to diversity and inclusion and I am honored to receive the award on behalf of our companies, our board and our employees.”

    Case said he is proud that Aon’s diversity initiatives are recognized not only in the risk management and human capital industries, but also in the broader business community.

    “I am humbled and honored to accept the Bridge Award on behalf of my 37,000 global Aon colleagues who are committed to providing an inclusive environment to our firm,” said Case. “By embracing the needs of our clients and the talent imperatives of the communities we serve, and by cascading our diversity strategy throughout our global organization, Aon continues to focus on hiring the best, building the best, and being the best.”

    Both Altria and Aon serve as exemplary models for companies who want to better implement corporate diversity and inclusion best practices that work, said Gloria Castillo, president of Chicago United.

    “With the continued leadership of companies like Altria and Aon starting at the very top with their diverse boards of directors, the business community has role models to successfully implement sustainable diversity and inclusion initiatives,” Castillo said.  “Chicago United is happy to honor those who demonstrate such leadership even as business priorities undergo change in response to the challenging economy.”

    Past National Bridge Award recipients include Indra Nooyi, chairman and chief executive officer of Pepsico Inc.; Ronald A. Williams, chairman and chief executive officer of Aetna Inc.; and H. Lee Scott, Jr., retired president and chief executive officer of Wal-Mart Stores, Inc.
    Past Chicago Bridge Award recipients include John W. Rowe, chairman and chief executive officer, Exelon Corporation; James Skinner, vice chairman and chief executive officer, McDonald’s Corporation; and Robert W. Lane, chairman and chief executive officer, Deere & Company.

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    Aon-COFCO today announced that for the second year in a row, it has received the top five-star rating in the China Insurance Regulatory Commission’s (CIRC) review of the quality of licensed insurance brokers operating in Shanghai, according to a recently published report by the Commission.

    The CIRC assessed 70 licensed brokers on management, integrity, service delivery, quality of work, premium processing and value-added services, including claims. Of the 70 brokers, only 15 were awarded 5 stars and Aon-COFCO achieved such recognition for their efforts in China year by year.

    Mr. YC Wei, chief executive officer of Aon-COFCO, remarked, “This is a great honor for Aon-COFCO and our colleagues who provide distinctive value to our clients every day. Regardless of the changing economic environment, China continues to develop strongly and Aon-COFCO is committed to helping our global and local clients with any opportunities that come with change. The 5-star recognition is proof that we are succeeding in this endeavor.”

    In view of the changing business and economic environment, Aon-COFCO takes the initiative in China to provide clients with risk management solutions. Together with our specialists from the U.S. and our very strong partner in China – COFCO, the leading local indigenous food corporation, Aon-COFCO recently organized a very successful workshop with many local and international food related organization on discussing food safety issues and how risk management solution could help. Aon-COFCO also is actively working with many clients on issues like credit risk, export risks, and even more immediate risks such as H1N1 and pandemic preparedness solutions.

    Not only is Aon-COFCO keeping information timely, but attention is still given to the mainstays of insurance. Aon-COFCO just helped a French client to settle a US$120 million earthquake claim after last year’s devastating earthquake in the Sichuan Province of China. The professionalism and service attitude of Aon-COFCO were highly appreciated by the clients.

    About Aon-COFCO

    Aon-COFCO Insurance is a joint venture between COFCO and Aon Group. Established in November 2003, it was the first joint Chinese-foreign insurance brokerage company approved by China Insurance Regulatory Commission (CIRC) to work on insurance brokerage, reinsurance brokerage and risk management consultancy. Aon Corporation is responsible for bringing technology, management skills and insurance expertise, while COFCO’s wide presence in China provides the joint venture with solid on-the-ground support necessary for the provision of a superb client service. For more information on Aon-COFCO, log onto http://www.aon.com/china

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    Aviva is making the Aviva Pension Tracker available to one million customers.

    The Aviva Pension Tracker is a secure online tool that makes pensions planning easier for consumers. It includes Lisa, a ground-breaking virtual online guide, who shows visitors around the site and helps them understand the importance of pension planning.

    It enables pensions savers to see what their pension’s worth today, how investments are invested, how they are performing and the income they have when retired.

    With the extended Pension Tracker, more than one million customers will be able to activate their account online using a one-step registration process at www.aviva.co.uk/controlyourpension

    The Aviva Pension Tracker allows savers to:

    • See what their pension’s worth, how contributions are invested and performing
    • See the benefits of tax-relief and employer contributions
    • See how much their pension might be worth when they retire
    • Provides tips and tools to budget for retirement
    • Instruct changes to contributions and retirement age and switch funds online.

    Iain Oliver, head of pensions and investments at Aviva, said: “Pension Tracker is an exciting new way for you to take control of your Aviva pension. It’s an online service that helps you manage your pension any time that suits you, much as you can with internet banking.

    “Pension Tracker has been designed by customers for customers to give you access to all the information, tools and tips you need, just when you need them. It takes only a few minutes to register with Pension Tracker. Once you’ve registered and logged in, you can take control of your pension and see whether you’re doing all you need to do to have a financially secure retirement.”

    For a demonstration of the site, and to register for services, go to www.aviva.co.uk/controlyourpension

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      Armin Sandhoevel, CEO of Allianz Climate Solutions, comments on current climate policies ahead of the upcoming International Climate Conference in Copenhagen.

      At the end of this year, the world climate summit will be hosted in Copenhagen. Are the present efforts of top-ranking politicians enough to reduce CO2-emissions?

      No, so far the countries failed to pave the way for a low carbon future, as people and financial investors need clear and mandatory worldwide targets for new climate change policies. The Heads of State should pledge financial and technological support for low carbon development and for adaptation measures in developing countries that are measurable, reportable and verifiable. None of this has happened so far.

      It will cost us at least seven hundred billion euros a year; that’s one percent of the total global economic output, to transform ourselves into a climate-friendly society. And of course we need courageous politicians, who could push through long-term and expensive decisions. Without strong policies which encourage clean technologies and discourage high-polluting technologies, the investment power of global companies won’t bring about the needed level of positive actions against climate change.

      Why do global companies like Allianz take interest in projects like CDP?

      As global risk managers and investors, Allianz supports the Carbon Disclosure Project (CDP) because the CDP is crucial for more transparency and understanding regarding carbon risks and opportunities on our way to a clean-energy and low-carbon economy.

      We believe that corporate governance, in respect of climate change disclosure, will reap its rewards. As carbon regulation increases, those companies that have implemented climate change-related strategies will be in better position to meet the challenge of higher carbon prices. The winners in these new competitive markets will be companies that already have started to reposition themselves to seize the opportunities of a low-carbon future. Allianz did so several years ago. Efficient and modern efforts in terms of C02 reduction are synonymous with efficient and modern management.


      What concrete measures did you take, and what are your plans for the future?

      Building a low carbon economy creates opportunities for investment in new technologies that promise to create a greener, more secure and sustainable future for society. Therefore, Allianz puts climate change right at the center of its business strategy: Since years we have directly invested into renewable energies and still consider this asset class a promising engagement.

      We hold wind power assets worth over 500 million euros and plan to expand our renewables portfolio by a billion euros in combined wind and photovoltaic investments until the end of 2012. We are also actively expanding carbon market related activities, products and services for our clients.

      As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer, provided on the right.

      You can find the full Carbon Discolsure Project 2009 by clicking here

      Click here to download the 2009 Investor Statement on the Urgent Need for a Global Agreement on Climate Change

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      Willis North America Inc. , a subsidiary of global insurance broker Willis Group Holdings Limited, announced today that it has commenced a tender offer to purchase any and all of its 5.125% Senior Notes due 2010. The tender offer is being made pursuant to an Offer to Purchase dated September 22, 2009 and a related Letter of Transmittal.

      Upon the terms and subject to the conditions described in the Offer to Purchase and the Letter of Transmittal, WNA is offering to purchase for cash (the “Tender Offer”) any and all of its 2010 Notes for a maximum aggregate consideration equal to $256.875 million plus all accrued and unpaid interest on the Notes purchased pursuant to this Offer up to, but not including, the Settlement Date. Tenders of the Notes may be withdrawn at any time prior to 11:59 p.m., New York City time, on September 29, 2009, but may not be withdrawn thereafter. The Tender Offer will expire at 11:59 p.m., New York City time, on September 29, 2009, unless extended or earlier terminated (the “Expiration Date”).

      The consideration for each $1,000 principal amount of Notes of each series validly tendered and accepted for purchase pursuant to the Tender Offer will be $1,027.50 per $1,000 principal amount of the Notes.

      WNA’s obligation to accept for purchase and to pay for the Notes in the Tender Offer is subject to the satisfaction or waiver of a number of conditions, including the completion of WNA’s concurrent note offering of not less than $250 million in aggregate principal amount of unsecured senior debt securities (the “Financing Condition”).

      In addition to the applicable Notes Consideration, all Holders of Notes accepted for purchase will also receive accrued and unpaid interest on those Notes from the last interest payment date to, but not including, the Settlement Date.

      None of WNA, WNA’s board of directors, the dealer manager, the depositary and the information agent makes any recommendation in connection with the Tender Offer. Holders must make their own decisions as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.

      WNA has retained J.P. Morgan Securities Inc. to serve as Dealer Manager. WNA has retained Global Bondholder Services Inc. to serve as the depositary and information agent. For additional information regarding the terms of the Tender Offer, please contact J.P. Morgan Securities Inc. at (866) 834-4666. Requests for documents and questions regarding the tender of the Notes may be directed to Global Bondholder Services Inc. at (866) 470-4200.

      This announcement does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of senior notes may be made only by means of a prospectus and prospectus supplement.

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      Marsh & McLennan Companies, Inc. (MMC) today said it has reached agreement with President and CEO Brian Duperreault to extend his employment with MMC through January 2014. Mr. Duperreault was named President and CEO of MMC on January 30, 2008.

      “I am extremely pleased to announce this positive development,” said Stephen R. Hardis, Chairman of MMC’s Board of Directors. “Since arriving at MMC, Brian Duperreault has done a tremendous job – not only in stabilizing the Marsh & McLennan franchise but in leading the company through one of the worst economic periods in the past century. In a very short timeframe, he has proven his ability to produce results at MMC. This contract extension will allow Brian to bring the initiatives he has already begun through to completion.

      “On behalf of the Board of Directors, let me say we are very pleased with his performance thus far and look forward to his continued leadership,” Mr. Hardis said.

      Under the terms of the new agreement, Mr. Duperreault’s employment with MMC is extended an additional three years to January 29, 2014; the original term of employment was scheduled to expire on January 29, 2011. The agreement also is intended to help provide for an orderly transition if Mr. Duperreault’s successor is identified prior to the end of Mr. Duperreault’s employment term.

      Mr. Duperreault commented: “I am grateful to the Board for their confidence in me. I, in turn, have the utmost confidence in the hardworking people of Marsh & McLennan; they are the foundation on which we are rebuilding this great company.”

      Prior to joining MMC, Mr. Duperreault served as CEO of ACE Limited, the Bermuda-based insurer MMC helped found in 1985, from 1994 to 2004. He then served as Chairman of the Board from 2004 to 2007. Under his leadership, ACE grew from a boutique catastrophe insurance specialist into a global multi-line commercial enterprise. He presided over significant organic growth as well as the acquisition of several businesses, including the 1999 acquisition of Cigna’s property and casualty business. Prior to ACE, Mr. Duperreault was with American International Group for more than 20 years, holding numerous positions and eventually rising to become Executive Vice President of AIG Foreign General Insurance and Chairman and Chief Executive of AIG’s American International Underwriters (AIU), which comprised all of AIG’s non-U.S. commercial business.

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      Amlin, the leading FTSE-listed specialist insurer, has entered into an initial three-year partnership with ERC to support the growth and development of elite European Club rugby across Europe.  Under this deal, Amlin becomes a Premium Partner to the Heineken Cup and the new Title Partner of the European Challenge Cup.

      ERC, organisers of European club rugby’s two cross-border tournaments, are today (Tuesday, 22 September) delighted to welcome Amlin into their family of partners in a deal that will see the European Challenge Cup immediately rebranded across Europe and beyond as the Amlin Challenge Cup.

      Amlin’s wide ranging partnership with ERC, covering both flagship tournaments will further enhance the profile of the competitions and will coincide with the launch of the new Amlin Challenge Cup format.

      Derek McGrath, ERC Chief Executive commented, “This is great news for European rugby. The new title sponsorship, together with the revised tournament format will give the Amlin Challenge Cup a major boost as we enter the new European season.”

      “Working in partnership with Amlin across Europe, ERC looks forward to greatly enhancing the profile and awareness of the tournament’s exciting brand of European rugby throughout our expanding territories.”

      Amlin Chief Executive Charles Philipps said ”…..We are extremely proud to announce this partnership with ERC which supports our strategy for European growth over the coming years.   As leaders in our respective fields, a partnership between Amlin and ERC is an excellent fit and we look forward to working collaboratively for the benefit of European rugby and to the enjoyment of our brokers and clients.”

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