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Friends Life reports that more should be done for working mothers

Posted by Amber Swanton · Leave a Comment 

A report by Friends Life has revealed that more needs to be done to ensure womens long-term savings are not hampered by the impact of starting a family. The latest Visions of Britain 2020 report has exposed a worrying number of women who are less clued up about pensions than their male counterparts, and the company is urging employers to do more to combat the issue.

Despite female representation on the board of the UKs largest companies increasing, little is being done to minimise the damage of women taking a career break to start a family, Friends Life believes.

Kim Clarke, Head of HR at Friends Life, commented:

We believe that employers may well consider the short-term financial impact of female employees starting a family through supportive flexible working practices but what about the long-term impact?

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April 10, 2012 · Tagged with Done, Friends Life

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Employer’s Assets are Fair Game

Posted by Rose Broinowski · Leave a Comment 

Congratulations! You are open for business.  Youve set up shop and hung out your shingle.  You have probably prepared yourself by purchasing an insurance policy. Unfortunately, in todays increasingly litigious society, a general or professional liability policy still leaves you exposed and vulnerable.   One statistic states that 19 million lawsuits are filed each year. If you own a business, investment properties, or are a professional, you may have a one in three chance of being named in a lawsuit.

If you are named personally in a lawsuit for something your policy excludes, your personal assets become fair game– home, financial accounts, life insurance policies that have a cash value, real estate, businesses, cars, electronics, investment portfolios, collections of art, antiques, etc. Lawye

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April 7, 2012 · Tagged with

Insurance Assistant

Singapore: Aviva re-enters Singapore’s general insurance market and states intent on regional expansion

Posted by Imogen Standish · Leave a Comment 

Aviva, the world’s fifth largest insurance group, today announced it has re-entered Singapore’s general insurance market and stated its intent on rolling out the business in key markets in Asia. Starting with direct online car insurance, the company will gradually increase its portfolio of products to include home and travel insurance.

By launching a direct insurance business, the company has built upon its existing brand presence in Singapore and has developed an attractive and differentiated proposition that challenges the traditional agency models of the market’s major insurers. “Our entry into Singapore marks the first step in our plan to penetrate the rapidly expanding general insurance market in Asia,” said Simon Machell, chief executive of Aviva Asia Pacific. “The risi

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April 5, 2012 · Tagged with General Insurance, General Insurance Market, Insurance Market, Intent

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Innovation, Customer Service and Emerging Markets Top Insurers’ Concerns

Posted by Amber Swanton · Leave a Comment 

Auto insurers are getting more proactive in preventing car accidents with sensor devices, Big Data, telematics and social media, according to a new study.

PwC’s “Top Issues in Insurance,” study reported that innovation is enabling insurers to make better and smarter use of greater amounts of Big Data.

“If insurers use real-time granular data properly, it can help control their losses when it comes to accidents,” PwC’s Insurance Practice Principal Anand Rao told Insurance Networking News. “Sensors, for example, cost less than a dollar and easily attach in a car to prevent an accident or monitor what lead up to it.”

Overall, the report’s findings indicate that customer service is at the top of the list. “Insurers are foc Full story…

April 2, 2012 · Tagged with Top, Top Insurers’

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Term Insurance Rates Cheaper Than Ever

Posted by Amber Swanton · Leave a Comment 

As reported in the March 2012 issue of The Insurance Journal, 10-year term life insurance rates have reduced in cost drastically over the years. The article cites many examples of companies that have significantly reduced their premiums.

Transamerica Life for example, offered a 40-year-old, male non-smoker $500,000 of Term 10 coverage in 1998 at a rate of $510 per year and that same 40-year-old male non-smoker can now get $500,000 of Term 10 coverage for $365 a year.

BMO Insurance, which previously sold their product under AIG Life of Canada name, would have charged that 40-year-old, male non-smoker $565 in 1998 and now offers the same plan at $350 a year.

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April 1, 2012 · Tagged with Insurance Rates, Rates

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