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Long-Term Care Insurance Becomes Increasingly Popular

Long-term care insurance, however, can cover a range of services, including nursing home care, extended care at home, adult day care centers and assisted living facilities. Many people obtain long-term care insurance to protect their savings and investments and to preserve some freedom of choice about their care, said Leslie Johnson, who specializes in long-term care insurance as president and owner of LJINS in Fremont, Neb. AARP estimates that about 7 million people nationwide have long-term care insurance. Benefits usually are triggered when a person cannot perform at least two key daily activities, such as dressing or bathing, or is cognitively impaired by Alzheimer's or another form of dementia.
Source: http://insurancenewsnet.com/article.asp?a=top_lh&id=74671

Home insurance customers given fresh flood tips

A six-point plan has been devised to advise home insurance policyholders on precautionary measures against flooding.Householders should take home insurance documents and other vital paperwork and seal them in a bag and put them in an area of the property safe from water, according to the plan published by council emergency planning chiefs.In addition, the six-point guide advises homeowners to put as much furniture and electrical goods upstairs as possible and cover doors and windows with sandbags or plywood."Anyone living by a river, coastal or flood risk area must be prepared," says Paul Bettison, chairman of the Local Government Association Environment Board.
Source: http://www.kwik-fitinsurance.com/news/Home-insurance/home-insurance-customers-given-fresh-flood-tips-$843.htm

Millions in Dark On Long-Term Health Care

But despite this self-proclaimed familiarity, Americans know precious little about costs and about what insurance covers - in many cases, less what they knew in 2001. For example, only 8 percent of Americans today, compared with 15 percent in 2001, could come up with an estimate within 20 percent of the average cost of a stay in a nursing home. That cost is about $6,266 a month, based on AARP calculations using a MetLife Mature Market Institute survey released in September. Almost two-thirds, or 63 percent, thought the cost was lower, and 17 percent admitted they didn't know. In addition, just 23 percent could come up with an estimate within 20 percent of the average cost of an assisted living facility, which is about $2,968 a month.
Source: http://www.theledger.com/apps/pbcs.dll/article?AID=/20070122/NEWS/701220314/1326

Pension funds seek a direct line to the private equity bonanza

Pension funds more than doubled direct investments in private equity deals last year as they struggled to generate the profits needed to support an ageing workforce in the face of declining public equity returns.

Associated British Ports, Thames Water and AWG were among the $24.6 billion ( 12.8 billion) of companies bought worldwide last year in private equity deals that involved pension funds. The funds included the Ontario Teachers Pension Plan and Borealis, in Canada; ABP Heerlen and PGGM Zeist, of the Netherlands; and Colonial First State Asset Management, of Australia.

Their investment marked a significant jump from 2005, when pension funds invested in $10 billion of private equity deals worldwide. It is nearly four times the $6.
Source: http://business.timesonline.co.uk/article/0,,9063-2533191,00.html

Cowboy builders cost Britons £181m to fix shoddy work

Direct Line found that a third failed to ask for identification before letting them into their homes, while over half didn't bother to check whether qualifications.

Over half of women and the elderly were the worse offenders in failing to carry out basic checks despite the risk of theft or their own safety.

A tenth said they did not want to appear rude, while nearly two-fifths said they simply didn't think to check.

And a staggering nine out of ten admitted they did not know what qualifications their handy man should have, leading to 85 per cent calling for compulsory regulations to ensure standards.

Direct Line's Home Response 24 Insurance boss Andrew Lowe said: "Homeowners shouldnt have to shell out twice for the same job.
Source: http://www.lse.co.uk/ShowStory.asp?story=SN2133225I&news_headline=cowboy_builders_cost_britons_%C2%A3181m_to_fix_shoddy_work

Insurers count the cost of high winds

Royal Bank of Scotland, owner of Direct Line and Churchill, is increasing staff in its call centres.

Article continuesThe Association of British Insurers, which represents the country's insurance companies, gave an early estimate for a bill in the "low hundreds of millions" of pounds. "It is too early to tell [exactly]," an ABI spokesman said.

Assessing the extent of the damage could take a number of weeks as insurers will need to send loss adjusters to visit the most severely damaged properties. More mundane claims, such as for broken glass or a few missing roof tiles, will be easier to process and are less likely to require an assessment by a loss adjuster.
Source: http://business.guardian.co.uk/story/0,,1994530,00.html

Police: Lock up to protect home insurance premiums

Britons looking to keep their home insurance premiums intact would benefit from locking up their properties, police have warned.Not ensuring that the house is secure before leaving it empty could invalidate home insurance, Bedfordshire Police told the Luton News.Many residents are unaware of how to correctly lock a UPVC door, the police have said, advising householders to lift the door handle before turning the key.Burglary reduction officer PC John Shiels said: "Despite our repeated warnings many people are still simply turning the key on their UPVC doors, rather than lifting the handle first to ensure deadlocks are in place.
Source: http://www.kwik-fitinsurance.com/news/Home-insurance/police:-lock-up-to-protect-home-insurance-premiums-$856.htm

Cowboy builders cost Britons £181m to fix shoddy work

The survey by insurance giant Direct Line found that a third failed to ask for identification before letting them into their homes, while over half didn't bother to check whether qualifications.

Over half of women and the elderly were the worse offenders in failing to carry out basic checks despite the risk of theft or their own safety.

A tenth said they did not want to appear rude, while nearly two-fifths said they simply didn't think to check.

And a staggering nine out of ten admitted they did not know what qualifications their handy man should have, leading to 85 per cent calling for compulsory regulations to ensure standards.
Source: http://www.lse.co.uk/ShowStory.asp?story=SN2133225I&news_headline=cowboy_builders_cost_britons_%C2%A3181m_to_fix_shoddy_work

CIS Launches "Home Insurance to Suit you"

CIS Launches "Home Insurance to Suit you"News ReleaseMonday 15 January 2007, 10:44 GMTMonday 15 January 2007MONEYCONSUMERCo-operative Insurance (CIS)

CIS Launches "Home Insurance to Suit you"

MANCHESTER, England, January 15 /PRNewswire/ -- The arrival of CIS's new more flexible home insurance product will allowcustomers greater flexibility when choosing the sum insured to suit theirneeds, with the added benefit of individual payments, renewal dates and allthe paperwork combined into a single, all - inclusive policy for the customerthat provides many extra benefits at no extra cost.

Historically the sums insured for contents cover were fixed at threelevels that didn't always suit the specific individual needs of the customer.
Source: http://www.prnewswire.co.uk/cgi/news/release?id=188025

'Rogues at work' on homes

Research for insurance firm Direct Line showed one in six people had hired someone in the past two years who turned out to be unqualified for the job.Rogue tradesmen and women often refused to repair botched work or honour a guarantee.The poll of 575 homeowners showed that one-third often failed to ask for proof of identity and more than half never asked to see qualifications.Andrew Lowe, of Direct Line, said: "Homeowners shouldn't have to shell out twice for the same job. They should have peace of mind that the person they hire is up to the job and able to do the work to a good standard.
Source: http://www.yorkshiretoday.co.uk/ViewArticle2.aspx?SectionID=55&ArticleID=1984793

Car insurance is up 4pc in three months

Other insurers, including the Royal Bank of Scotland, which owns Direct Line and Churchill, have since followed suit.

Mr Crowder said: "We expect another hefty rise next quarter, but then we think that it will ease off.

"Last year for every pound;100 the insurance industry took in premiums, it paid out pound;109 in claims. Clearly the maths doesn't add up. Premiums will finally catch up later in the year and it will ease off."

The cost of the cheapest insurance deals has gone up far less than the average quotation, the AA found.

Its index of the "shoparound" premium ; the average of the lowest three quotes ; rose by less than two per cent in the last three months of 2006.

Post this story to:del.icio.
Source: http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/01/20/ncars20.xml

Esure vows to fight on despite court ruling

Esure's two-year row with Direct Line over the trademarking of a computer mouse on wheels looks set to rumble on after Esure vowed to fight a ruling that came down in favour of its rival.

The Trade Mark Registry last month backed Direct Line's objection to Esure's trademark application for the mouse on wheels, but now Esure says it will appeal.

Direct Line claimed Esure's application infringed its red telephone on wheels trademark but an Esure spokesman says: "We believe that telephones and mice are suitably different to allow our trademark to be registered."

The mouse on wheels was first used in a TV ad for Esure in 2004. The character is not currently in use but did feature in direct response TV ads during the trademark case.
Source: http://www.marketingweek.co.uk/item/54603/254/260/3

Severe 'gales could cause home insurance claims'

Britons may be interested to know that severe gales are expected later this week, potentially resulting in home insurance claims.The Met Office is warning that Wednesday and Thursday in particular could bring harsh weather conditions and winds of more than 80 mph, followed by a cold snap, so UK residents may want to make sure they have adequate home insurance in place to cover them for any damage which may be caused by the stormy weather.Home insurance policyholders should keep up-to-date with weather forecasts and find information and guidelines about how to cope with severe weather, the weather experts states.According to the Met Office: "The strongest winds are likely to occur over much of England and Wales, bringing the potential for more disruption.
Source: http://www.kwik-fitinsurance.com/news/Home-insurance/severe-gales-could-cause-home-insurance-claims-$847.htm

Storms highlight need for home insurance

The recent storms that have swept the country have highlighted the need for home insurance, after one home insurer recorded a 120 per cent increase in the number of claims resulting from bad weather. Halifax claims that some 3,500 claims were registered because of storm damage, while the company also increased its claim-handling resources by 60 per cent to cope with the demand.With further inclement weather forecasted, the company is urging homeowners to take extra precautions, such as securing objects in and around the house and checking the roof for loose tiles.
Source: http://www.londonstockexchange.com/en-gb/pricesnews/investnews/article.htm?ArticleID=18037638

Home insurance market 'steady'

The report, which has been monitoring home insurance prices since 1994, places the average buildings insurance quote as £209 - an increase of 1.26 per cent in the last quarter. Mean contents insurance currently stands at under £148 on average, a fall of 0.5 per cent over the period.A spokesman for home insurance provider AA cites competitive activity as a prime factor in the drop in prices, but claims customers should thoroughly check what their home insurance policies cover."As more people will inevitably be shopping around, they need to make sure they're aware of what insurers are offering for their money. Making a claim is the wrong time to find that cover doesn't meet expectation," said Kevin Sinclair.
Source: http://www.kwik-fitinsurance.com/news/Home-insurance/home-insurance-market-steady-$851.htm



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