WASHINGTON—Health exchange regulations finalized by the Obama administration Monday envision allowing agents, brokers and private companies, to sell coverage on the exchange to individuals and employers through privately-run websites.
In a report issued by Beth Mantz-Steindecker, John J. Leppard and Ira S. L
One hundred-year rains have soaked Victoria and NSW in the past few days, with loss adjusters saying it may be some time before they can access some of the hundreds of affected properties.
With major flood warnings in place for parts of Victoria’s northeast and the south, central and northwest regions of NSW, claims teams are on standby.
Insurance Council of Australia (ICA) spokesman Chris Sealy says insurers are “monitoring flooding in five states and territories and liaising with local emergency services and governments”.
“It’s much too soon to estimate the extent of the damage.”
Brett White, Catastrophe Response Manager at major loss adjuster Cerno, says the company has 10 adjusters in NSW with another 10 on standby.
“We are just marshalling the troops at the moment,” he told insuranceNEWS.com.au. “We don’t reall
After a near-record number of tornadoes in 2011, this year is gearing up to be another active season, according to AccuWeather.com.
The weather service says that climatic activity last year produced a near record year for tornadoes with a total of 1,709, making it the fourth most deadly tornado year in the United States. The record was set in 2004 with 1,817 tornadoes. The average is 1,300.
A strong La Niña phenomenon last year, with sea surface temperatures in the central and eastern Pacific around the equator below normal, produced a very strong jet stream. This is a key ingredient for severe weather.
In the La Niña year, the normal tornado pattern shifts east, causing many twisters to hit from Texas to Kansas, say the forecasters. T
Barry Rafe has been appointed as a Principal at Professional Financial Solutions. He is a consulting actuary specialising in strategy, governance and operational issues within the financial services industry. Mr Rafe is immediate past president of the Actuaries Institute, and previously held senior positions at Accenture, Trowbridge Consulting, AMP and Mellon Bank.
Not all shareholders of Aon’s stock will be subject toU.S.capital gains tax if shareholders approve the insurance brokerage firm’s changes to move its headquarters fromChicagotoLondon, the firm said.
In a filing with the Securities and Exchange Commission today, Aon says shareholders will receive one Class A Ordinary Share of the newU.K.holding company in “exchange for each share of common stock previously held in AonDelaware.”
The exchange will not change the number of whole shares shareholders hold, Aon said.
The firm goes on to say thatU.S.shareholders “could recognize a capital gain on the receipt” of the shares.
Aon says that those who own Aon stock outright could be subject to capital gains taxes, whereas those with restricted or deferral arrangements may not be subject to capital gains taxes.
The filing, which is a copy of a letter sent to shareholders, advises shareholders that they should contact a tax advisor to understand how their holdings will be treated.
Aon says it has hired PricewaterhouseCoopers “to provide assistance to colleagues that have additional questions about how this transition will work and what it means for your holdings.”
According to a piece in The New York Times, the move from theUnited States may not have sat well with founder Patrick Ryan. The story cites