Once he leaves 1600 Pennsylvania Avenue and enters the world outside the Oval Office, President Barack Obama has pledged to purchase a Chevy Volt when it comes time to buy a new car.
During the United Auto Workers Conference* that was held at the Washington Marriott Wardman Park on February 28, President Obama addressed the state of the automobile industry and how far its come since 2008, when the industry was at a crossroads.
“Four hundred thousand jobs across this industry vanished the year before I took office,” said Obama.
The airline and aviation manufacturing insurance sectors turned in a profit in 2011, following one of the safest years in recent times in terms of aircraft losses and passenger fatalities, Willis Aerospace reports.
In its latest aviation market review, the broker estimates total airline insurance premium in 2011 at $1.9 billion, against claims of $1.1 billion, giving rise to the first profitable year for the airline insurance sector in five years.
In addition, conditions were notably more favourable for airline insurance buyers with premium levels down 2.4% in 2011, compared with 1.3% for aviation manufacturing insurance.
There were 30 total losses of western-built aircraft in airline service last year, down from 46 in 2010 to the lowest number recorded.
Toyota has announced yet another recall of Lexus and Toyota automobiles due to floor mats that may jam against pedals and cause unintended acceleration.
The company is recalling 2.1 million vehicles only a year after doing the same for millions of cars between 2009 and 2010 for a similar issue. This time, Toyota announced six models manufactured between 2003 and 2010 – depending on the vehicle – may have floor mats that could wedge underneath the car pedals and easily cause an accident.
The Lexus GS, Lexus RX, Lexus LX, Toyota Highlander, Toyota 4Runner and Toyota RAV4 have all been affected by the issue.
Marsh has been named Global Infrastructure Insurance House of the Year at the Infrastructure Investor 2012 awards.
In an effort to curb auto insurance fraud, legislators in several states are considering passing a law which would make it more difficult for motorists to turn a profit after being involved in an accident.
The legislation, often referred to as ‘No pay, no play,’ would limit the damage uninsured motorists could recover after being involved in accident where another driver was to blame.
Commercial insurer RSA has published new research that reveals that yob culture cost British businesses £9.8bn in 2011.
Even more worryingly, the projected cost of yob culture for UK firms in 2012 is a third again higher than the 2011 figure.
The average cost of yobbish behaviour, which afflicted one in five British businesses last year, was a hefty £20,000, with large businesses more likely to be targeted than smaller ones.
In London and Scotland a third of businesses have considered relocating to evade yobbish behaviour, and the Construction and Transport sectors were worst affected in 2011.
Yobbish behaviour such as graffiti, vandalism, theft and intimidation are sadly commonplace, with broken doors/windows and petty theft the most frequently committed acts of crime.
RSAs Commercial MD Jon Hancock said that the research showed that yob culture was having a tangible and negative impact upon British businesses.
The motor vehicle industry in Japan, home to a number of world-renowned auto brands, is struggling to recover from the March 11 earthquake and subsequent tsunami, according to industry research and forecasting group IHS automotive.
The group reported that a number of Japanese auto makers have decided to extend the amount of time they will suspend production of vehicles. Some automakers were more affected than others, depending on the location of their primary manufacturing facilities in Japan.
Toyota has decided to idle all of its Japanese facilities through March 16, while Honda’s production is unlikely to restart until sometime after March 20, according to the source.
Munich Re has entered into a cooperation with GCube, which is headquartered in London and provides insurance services for renewable energy projects in wind, solar, biofuels, wave, hydro and tidal.
The firm also has offices in New York and Newport Beach, California, providing construction, marine, property-casualty and liability cover tailored specifically to renewable energies projects.
Even the thought of one’s death is very disturbing. Yet all of us know that it is inevitable and the best way to provide for your family in the eventuality of your death is to arrange for their finances. There is no doubt that in the event of the passing away of bread earner, the lifestyle that other members had is no longer possible to afford as the source of income dries up. It is in times like these that the insurance cover of the deceased comes handy to provide a monthly income to survive. However, I would not suggest the readers to think about death while insuring their lives. Why not think positively to live even after the expiry of the term of the life insurance policy to reap the benefits of life as well as the sum assured and bonus that accrue from the policy? O Read full post…