Insurance, Fuel And Personal Finance In The UK Following Recent World Catastrophes

Following the increase in UK terrorist activities and the catastrophe that has hit New Orleans, it seems we are all going to have to foot the bill. The total cost of the catastrophe is currently predicted to top $25 billion (£13.6bn), however many analysts predict that the full costs could rise much higher even doubling to $50bn (£27.2bn), although with attempts to reduce the flood waters expected to take several months, it will be some time before a clear picture emerges.

Here in the UK, the effects of the disaster in the US are already starting to be felt through higher costs at the petrol pumps, as European reserves of oil which have been set aside for disaster protection are redirected to America to help their recovery efforts. Oil prices have already been rising in recent months hitting record levels as traders have pushed the price up on fears of supply problems from the Middle East as terrorism worries have grown. Last week the wholesale price of petrol charged by suppliers rose again due to hurricane Katrina and retailers say that more increases are on the way, making the £1 a litre that is being experienced in some areas inevitable across the country. Royal Dutch Shell and BP have already announced that they are set to raise prices still further in the wake of hurricane Katrina. While US motorists have to cope with fuel prices now at a record $3 a gallon, the research group Catalist has found that the average price of a litre of unleaded petrol in the UK was now 92.3p.

Ray Hollaway of the Petrol Retailers Association said, "In the coming week we are going to see increases of 3p or 4p a litre. That's unavoidable because of what happened in the US...We have to accept that the days of 80p a litre are behind us.”

In addition to the actual cost of supplying fuel in the UK, the costs to consumers is further being exacerbated by the governments refusal to reduce taxation levels, and as the oil companies are to spend millions of pounds ahead of all previous expectations, upgrading UK pumps and station forecourts, to technically enable them to charge higher prices as prices spiral beyond the £1 a litre mark.

Analysts are worried that the increases in fuel prices will lead to inflation rises and decreased public spending, as suppliers transport costs increase, and experience has shown that petrol price hikes do not lead to a significant reduction in public fuel demands, but rather it leads to consumers cutting back their spending in other areas causing a slowdown in the economy.

The insurance costs of recent events have caused huge additional expenses to the insurance companies. The impact of Katrina on companies operating onshore and offshore in the Gulf of Mexico has meant that insurers such as Lloyds may be hit fairly hard, with the bill for the Lloyd's market being tentatively placed at around £1bn to £2bn. Lloyds stated that the, “terror attacks in London have had a big human cost, but our analysis suggests that the economic costs may be quite low.” Despite Lloyds’ claims that the effect of the London bombings has cost them relatively little financially, in light of expected future attacks and calls for terrorist activity exclusions to be scrapped, it seems likely that premium increases will be gradually introduced.

Since Katrina, and the Asian tsunami which struck at Christmas, many insurers are becoming worried about the rising costs of the increasing number of serious weather related incidences. As a consequence of the insurance payouts for the devastation and carnage wrought in Asia and by hurricane Katrina, many analysts believe it is inevitable that businesses will also face huge rises in premiums down the line. The Association of British Insurers (ABI) issued a recent report stating that, “in the UK, climate change could increase the annual costs of flooding by almost 15-fold by the 2080s under the high emissions scenario, leading to potential total losses from river, coastal and urban flooding of more than $40bn (£22bn).”

The ABI ( http://www.abi.org.uk/ ) also released research findings indicating that less than 50% of small UK firms have a plan in place to ensure that their business could survive should they be hit by an emergency or disaster, and only 50% of UK households possess any life insurance with 25% of mortgage holders actually have insufficient life insurance to cover their debt therefore placing their home at risk.

With UK personal debt over £1 trillion, decreasing levels of investment through products such as individual savings accounts (ISAs), it is perhaps understandable that many see insurance protection policies as being one of the first expenses that can be put off until money is more plentiful, however it is at these times when finances are tight that these financial products are most important.

The growth of financial services such as UK based Moneynet ( http://www.moneynet.co.uk ), eSure.com, and Confused.com combined with the proliferation of financial information provided by the likes of Which?, the Financial Times and the BBC, has helped to increase competition between insurance providers and assisted in keeping prices down. However the current outlook seems to be that prices are going to rise, but by how much is unknown until the full effect of recent events is calculated. The only thing that is certain is that it no longer matters where the disaster happens, in the end the UK consumer will eventually have to pay.

About the Author:
Richard Green lives in Edinburgh, occasionally writing for the personal finance blog Cashzilla
( http://cashzilla.blogspot.com/ ), and likes the surrealist means of expression. Fish.
Article Source: www.iSnare.com

Understanding Infertility Insurance - Don't Get Caught Out!

Infertility issues are stressful enough for couples to deal with and can create any number of emotional reactions. During treatment, couples are given the opportunity to realise their ambitions for conception yet, financially, it can present a huge burden on their resources.

Infertility issues are stressful enough for couples to deal with and can create any number of emotional reactions. During treatment, couples are given the opportunity to realise their ambitions for conception yet, financially, it can present a huge burden on their resources. Infertility insurance should be strongly considered and in most cases can ease this financial burden.

Infertility Insurance - The Options

These can vary from country to country. Essentially, insurance in this area works like any other type of insurance depending on the type of procedures involved. You pay a monthly premium and are entitled to claim a percentage of the cost of the treatment. However, because infertility is such a complex and at times, drawn out ordeal, the cost of treatment can amount to exhorbitant levels not to mention the uncertainty of success and it is for this reason insurance companies have been loathe to offer infertility coverage. The good news though, particularly in the United States, is there is a shift towards making infertility insurance mandatory under typical health coverage schemes as has been already applied in some states.

Eligibility - Sorting Out The Confusion

If you are reading this and are planning to have your first child in the next couple of years then it may be a good time to look at the pros and cons of infertility insurance. Why? Well, there is certain criteria that needs to be met. Many couples have been left with huge financial committments because they investigated insurance only after infertility was established. So who is eligible?

Couples who haven't been able to conceive for a certain period of time and who in most cases are under the age of 40 will be in a good position to qualify for insurance. Remember though, if infertility has already been established and treatment has commenced then it's highly unlikely that coverage will be available. Requirements made vary from insurer to insurer so make sure you check several options. If you have been an insurance policy holder for a certain period of time then again, you may be strongly considered for infertility coverage. There may be several grey areas regarding eligibility so be forthright and inquisitive when doing your due diligence.

There are several options available to propective policy holders who qualify but the main three categories include standard, refund and financing programs. Standard coverage involves a monthly premium and covers you up to a designated dollar amount. This is usually the most affordable type of infertility insurance. Refund programs require treatment payments up front but in the event of unsuccessful procedures, then you are entitled to be refunded a portion of your initial outlay and this amount can vary significantly. Financing is a little more complex and if considering this option, then you need to discuss it with your clinic of choice.

One more thing... infertility insurance is an "umbrella" that encompasses any number of treatments. Be clear on exactly what you are being covered for. Avoid any nasty surprises following the completion of treatment by knowing exactly what your plan covers.

About the Author:
Dean Caporella is a professional broadcaster. Read the latest infertility news and reviews including infertility insurance and related information at:http://www.infertilityline.com
Submitted on 2006-09-22
Article Source: http://www.articlesalley.com/

Disability insurance

Disability insurance will allow you to keep a usable income even if you are disabled. Disability insurance is the best way to make sure that your income will be protected. While everybody can benefit from disability insurance, it is especially important for people who have jobs that require a lot of mobility. If you are disabled in some way that will prevent you working your old career, then disability insurance will make sure that you will still get enough money. There are two major types of disability definitions that are used with regard to disability insurance. The first is just that you can become disabled in a way that will keep you from working your own job. In this case, you might still be able to work another job; all that matters is that you will no longer be able to work in your chosen career. This type of insurance is best since in a lot of cases it will also result in you getting enough disability money after your business starts back up again so that you will end up with the same income despite your disability. The other type of disability insurance only applies if you are disabled to the point where you cannot work a steady job at all. This disability insurance is generally cheaper and is less useful. However, if you cannot afford the other type of insurance, this is better than nothing. In any case, no matter what type of job you work, you should definitely have at least the most basic disability insurance. That way, you'll be able to have an income even if you are unable to find a job that you are capable of working. It is very difficult to figure out which type of disability insurance you should consider. There are a lot of different factors that need to be considered - for instance, your current income, the type of career that you have, and what type of insurance company you are going to be buying insurance from. Another thing that you should consider is that even if your employer is offering group disability to you, it might not be enough. Even if you think that you already have disability, then you should look at your existing policies and make sure that they will actually cover you in the event that you are disabled and unable to work.

About The Author:
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
This article was posted on August 06, 2005
Article Source: The Articles Directory

Is Pet Health Insurance an Option?

Most pet owners aren’t aware that health insurance for their loved animals has been available for about 15 years now. However, both the availability and restrictions on most plans have made this type of health insurance out of reach for most pet owners.

Interestingly enough, pet health insurance has changed in the past couple of years. Now, animal owners are able to afford medical procedures previously prohibitive because of the cost. But many skeptics are concerned that health insurance for pets will see an increase in the red tape us humans already encounter every day.

Animal medicine is one of the few health care services that isn’t financially dependent on health insurance. Medical, dental, surgical and pharmaceuticals are all pretty much covered by health insurance in humans, but veterinary patients are responsible for all of that, themselves. Or, at least their owners are.

Health insurance for pets is very similar to insurance for humans. The same fees, deductibles, coverage rates and plans are all in place, with different plans based on the age, species, and general health of your pet.

Most health insurance policies for animals start around the 6-8 week range, but when the policies end depend on a variety of factors, mostly decided by the health insurance company. Some have age limits, and some don’t.

And just like with humans, some health insurance companies will only accept your pet on their plan if they are healthy; others will accept them only if they have had a stable condition for more than six months in a row.

Currently, deductibles stand around $100 for pet health insurance. Policy costs vary as much as human health insurance does, unfortunately. Some depend on what types and kind of coverage is desired, and yet others are just blanket coverage catch-alls. Some may only cover accidents and illnesses. And more pets usually means a reduced health insurance rate for subsequent animals.

But what if you decide that an health insurance policy is not right for you, and your pet? There are other options, of course!

First, discuss your situation with your Veterinarian. Some animal hospitals offer packages that aren’t quite health insurance, but can offer a rate deal of some sorts on more mundane medical procedures (spaying/neutering, vaccinations, etc.), or packages for your aging animal.

Secondly, research plans that offer discounts on animal health services. PetAssure is one of these companies, but there are a myriad of not-for-profits that may offer this as a side benefit when you join. Or, these same animal not-for-profits may offer financial assistance for pet owners whose health costs are beyond their means – a sort of emergency fund, if you will.

All in all, it depends on you, and your pet(s), whether or not pet health insurance is the right choice. Hopefully, with the help of this article, your choice will be an informed one.


About the author:
Peter Lenkefi
For more more information about pet health insurance please visit http://www.1health-center.com/articles/The-Important-of-Health-Insurance.php
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Health Care Costs Are Rising At Epidemic Proportions - Here's How To Protect Yourself

Health care costs are now approaching 15% of our national economy and the economic repercussions have been felt by most American families as employers are unwilling to absorb the bulk of the health care cost burden.

In 2004, employer health insurance premiums increased by 11.2% - nearly four times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $10,000. The annual premium for single coverage averaged $3,695. Health insurance premiums will rise to an average of more than $14,500 for family coverage in 2006.

In 2004, health care spending in the United States reached $1.7 trillion, and is projected to reach $1.9 trillion in 2005. Health care spending is 4.3 times the amount spent on national defense.

Overall national health care costs will increase further with the implementation of Medicare prescription drug coverage. Too many Americans are uninsured while even a greater percentage have no insurance at all. Uninsured individuals also present a problem for hospitals and other providers who must provide treatment in catastrophic situations without compensation.

Many employees receive restricted coverage and insurance plans that are negotiated between employers and insurance providers limit coverage to a single insurance carrier or an HMO.

Prescription drugs are the fastest-growing part of the nation's health care expense. Pharmacy bills have become a significant item in the budget of most families.

For 37% of Americans without prescription coverage, the problem is critical. Especially for seniors who constitute 12% of the population but use 37% of prescription drugs. The rest especially those without health insurance, is significantly affected by high drug prices.

What has caused this cost increase?
Much of it is due to a riddled health care system of excessive administrative expenses, inflated prices, poor management, inappropriate care, waste and fraud. These problems significantly increase the cost of medical care and health insurance for employers and workers.

On the other side of the cost issue there is the recent development of new effective medications for a variety of illnesses. Such newer "brand name" medications are patent-protected and cost far more than generic medications.

The drug industry argues that the higher cost of new medications helps fund research and development of even newer medicines. Many critics argue that much of the research and development of pharmaceutical products is actually government funded.

Also contributing to the cost increase is marketing. As this is 30% of a drug manufacturer's budget. Brand-name U.S drug makers were reported to employ 81% more people in marketing than in research and development of much needed drugs.

Policymakers and government officials agree that health care costs must be controlled. But they disagree on the best ways to address rapidly escalating health spending. Some favor price controls and imposing strict budgets on health care spending.

Others believe free market competition is the best way to solve the problems but if people can't afford it, how will they protect themselves and their family?

Well there is something you can do and that's become apart of the solution and not the problem by learning more about our troubled medical industry.

Visit http://www.medicalcardsavings.com and sign up to our weekly ezine and receive our Free ebook for complete details and answers to these questions and mo

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About the author:
Blaine Dares is the President of Medical Card Savings USA Saving over 1 Million Americans over $100 Million on Dental, Medical, Prescriptions, Vision & Chiropractic Care. Instant Nationwide Savings. For complete details visit http://www.medicalcardsavings.com
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