August 2011

Talk Around the Bazaar

Recently it was announced that TMF and Equity Trust are to merge, thereby creating a world leader in corporate compliance and reporting services. This is good news for firms seeking to expand across borders. Further information can be accessed at http://www.tmf-group.com/news/28-june-tmf-group-en-eq-merge.aspx

The 36th annual conference for Professionals in Taxation has just been held in California and VAT and Insurance Premium Tax figured among the issues under review. There is a thin but growing presence from professionals in the insurance industry who attend these sessions. Take a look at the conference programme at http://www.ipt.org/files/upload/files/2011ACBrochure.pdf

Skyscraper Forums and the Middle East Insurance Review have reported that three new Life insurance companies have started up in Algeria. For further detail, please see http://www.skyscrapercity.com/showthread.php?p=81319504 It is encouraging to see the government and the market fine tuning the provision of accident, life and health business

Our friends at JMD Ross in Australia (www.jmdross.com.au) have drawn our attention to the increasing concern that specialist insurance policies such as D&O and other liability policies are not up to scratch. A thought provoking article by Clayton UTZ is worth reading at http://www.claytonutz.com/publications/news/201107/13/accessing_the_deep_pockets-when_will_a_court_let_others_inspect_your_liability_insurance_policy.page

In accordance with its tradition of helping the community understand what complicated insurance and regulation issues really mean, the Chartered Insurance Institute continues to produce good information for interested parties to consult. One of their recent Briefings related to the Emerging Regulatory Landscape in the U.K. and can accessed here http://www.knowledge.cii.co.uk/system/files/The_UKs_emerging_regulatory_landscape_0.pdf

Again, with the CII, a new suite of online modules has been made available to brokers in the U.K. by Chartis in partnership with the CII. Click here for details http://www.chartisinsurance.com/chartisint/internet/GB/en/files/EIL%20CII%20training%20release%20final_tcm911-355414.pdf

The I.I.I. Online Fact Book 2011 produced by the Insurance Information Institute is now available. For a taste of some of the interesting titbits, see http://www2.iii.org/insurance-fact-book/insurance-industry-at-a-glance.html

Through our PIA membership partner ICMIF (www.icmif.org/about-icmif) we hear of an innovative product in New Zealand for the farming community. Click here to read more http://www.icmif.org/fmg-new-zealand-launches-innovative-livestock-catastrophe-insurance-policy and here for more about the FMG www.fmg.co.nz

Further to our Comment of the Month, we have seen that IOPS (the International Organisation of Pensions Supervisors) is to hold a Workshop in Peru in September. For an idea on what is to be handled, please look at http://www.iopsweb.org/document/47/0,3746,en_35030657_35030420_48297967_1_1_1_1,00.html

We cannot resist the temptation of bringing our readers’ attention to the official website of the Rugby World Cup which is being held in New Zealand in September and October, http://www.rugbyworldcup.com/index.html For the enthusiasts there is an official newsletter and here is the link to the latest issue: http://www.rugbyworldcupnews.com/mail/display.php?M=75&C=a9aea3cf0ccbb83b612927ce9b13b512&S=626&L=7&N=298 For the eagle-eyed there is a very special person taking part in the Opening Ceremony on the 9th September in Auckland. Think blond hair, brown eyes and one helluva cheeky grin…

Should you want to be in New Zealand during this exciting competition, Just Landed can tell you all about the country and how to manage your daily life at http://www.justlanded.com/english/New-Zealand

Just after this, Stockholm will be the host of the FERMA Risk Management Forum (2nd-5th October). Further details can be found at http://www.ferma-forum.eu/site/-Homepage,1971- and Just Landed can help you feel a bit Swedish at http://www.justlanded.com/english/Sweden

With the North American hurricane season almost upon us, Artemis has a handy tracking map which displays all storms and low pressure areas which have the potential to develop into named storms. It can be found at http://www.artemis.bm/blog/2011-atlantic-hurricane-season/

In the world’s newest country, South Sudan, a number of banks and insurance companies set up a few years ago are already in business. The local newspaper, Gurtong reports on these companies at http://www.gurtong.net/Business/FinanceInsurance/tabid/68/Default.aspx

Did you know? Here are some interesting facts which could come in handy to know…

  • Because of the rotation of the Earth, an object can be thrown further if it is thrown to the west
  • Moisture, not air, causes superglue to dry