• 17
  Aug
  2009

• Emergency Medical Evacuation while Travelling

  
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  Author: Blog Contributor
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Overseas emergency medical evacuation services, or “medevac,” are rarely ever needed, but they can be extremely expensive and are unlikely to be provided by your at-home medical policy.

In a medical emergency at home, one would have known exactly what to expect: an ambulance would take the victim to a nearby familiar hospital; the condition and treatments would be explained in a known language, and there likely would be family or friends to call on for support. Imagine the plight of someone struck with a medical emergency in a foreign city where they speak a foreign tongue. The only thought that would rush to your mind then is to be back at home, in familiar surroundings.

Medevac services are prepared to step in and take charge of your emergency. The medical emergency evacuation coverage is usually only a small fraction of the coverage in a travel insurance package; fortunately, this potentially very important medevac service can be purchased separately at a small fraction of the cost of a full travel insurance package.

The service consists of two levels of transportation: 1] transport to the nearest appropriate medical facility and 2] repatriation, or transport to a home-city hospital, along with medical coverage.

• 14
  Aug
  2009

• Insurance regulation in United States

  
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  Author: Blog Contributor
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The states regulate insurance in the United States. The history of insurance regulation, however, has been marked by federal-state tensions and accommodations, and, after more than a century of state dominance, by periodic proposals for federal intervention.

The United States Supreme Court has long recognized the need for insurance to be regulated as it is business coupled with a public interest. Consumers invest substantial sums in insurance coverage in advance, but the value of the insurance lies in the future performance of the various contingent obligations. Because the interests protected are so important including an individual’s future ability to provide for dependents in case of death or injury, to retire, to obtain necessary medical treatment, to replace damaged or destroyed property—regulation of the industry furthers public welfare.

The National Association of Insurance Commissioners (NAIC), a voluntary association of state insurance commissioners, has played an essential role in the process of centralization, expanding upon its initial advisory and model law drafting functions until it resembled a federal agency in many ways. The NAIC’s central role in the United States system of insurance regulation demonstrates that, for the most part, the states’ regulatory apparatus has been unable to function appropriately as individual units because of the complex national and international nature of the insurance industry.

However, as a private, nongovernmental organization with no power of its own, the NAIC is inadequate to perform the more complex tasks it has taken on and which financial services integration will demand of it. The stability of the insurance industry, and the protection of the consumers who rely on it, are at stake. Regulatory reform is essential.

• 13
  Aug
  2009

• Flood Insurance

  
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  Author: Blog Contributor
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The National Flood Insurance Act of 1968 authorized the creation of the National Flood Insurance Program (NFIP) to address the nation’s flood exposure and the unavailability of flood insurance in the private insurance markets. This insurance is designed to provide an alternative to disaster assistance to reduce rebuilding costs and development in the aftermath of disastrous floods. FEMA was overwhelmed by NFIP claims from the 2004 and 2005 hurricane season and Congress had to act to raise the programs borrowing authority to pay claims. Fundamental reforming of the program is necessary to ensure its viability going forward.

Regulation of the property insurance market is handled mostly at the state level by NAIC members but the NFIP is a federal program. To ensure consumers are protected and informed, the NAIC collaborates with the NFIP. This working relationship has developed, among other things, minimum flood insurance training and education requirements for agents who sell flood insurance policies for FEMA.

In the wake of Hurricanes Katrina, Rita and Wilma in 2005 and Hurricane Ike and the Midwest floods of 2008, Congress is looking to reform the NFIP’s structure, function and financial solvency. There is also a push in Congress to expand the flood program to offer wind coverage. The NAIC has called for a more comprehensive insurance policy that offers consumers seamless coverage for all catastrophic perils. The NAIC believes integrating the flood program into such a policy should be considered as part of any flood reform package.

• 12
  Aug
  2009

• Fairytale land: Hollywood

  
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  Author: Blog Contributor
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The Hollywood Sign: It’s more than just nine white letters spelling out a city’s name; it’s one of the world’s most evocative symbols – a universal metaphor for ambition, success, glamour …for this dazzling place, industry and dream we call H-O-L-L-Y-W-O-O-D. Known as the Entertainment Capital of the world, Hollywood is home to the most famous nightclubs, hotels, attractions, and shopping! It has been dubbed as the most exciting and mythical city in the world, where millions of visitors flock every year to meet the stars, to become a star, or to simply gaze at the stars!

Hollywood is a district in Los Angeles, California, United States, situated west-northwest of Downtown Los Angeles. Today, much of the movie industry has dispersed into surrounding areas such as the Westside neighborhood, but significant auxiliary industries, such as editing, effects, props, post-production and lighting companies, remain in Hollywood, as does the backlot of Paramount Pictures. Many historic Hollywood theaters are used as venues and concert stages to premiere major theatrical releases and host the Academy Awards. It is a popular destination for nightlife and tourism and home to the Hollywood Walk of Fame.

However, back in 1870 Hollywood was but an agricultural community flourishing with thriving crops. A locally popular etymology is that the name “Hollywood” traces to the ample stands of native “California Holly”, that cover the hillsides with clusters of bright red berries each winter. The name Hollywood was coined by H. J. Whitley, the Father of Hollywood. He and his wife, Gigi, came up with the name while on their honeymoon in 1886, according to Margaret Virginia Whitley’s memoir. Filmmaking in the greater Los Angeles area preceded the establishment of filmmaking in Hollywood. The first studio in Hollywood was established by the New Jersey-based Centaur Co., which wanted to make westerns in California.

Whenever you visit Hollywood, be ready to be dazzled but don’t forget to take a peep at its history.