Business liability insurance for the small business is the same as that for large businesses in that it does provide cover for a number of incidents that can result in financial loss such as injuries to guests or physical property damage. Where it can differ is in that small business often need even higher levels of cover in order to protect the business from a complete collapse should a large payment to an individual need to be made.

Simply put, a large business may have the financial backing to cover the costs that are associated with accidents, while a small business may not. The small business today simply cannot have too much insurance, as even one event could cause major financial problems.

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The committee said car cover prices have spun out of control because of increasing claims for whiplash injuries. And it accused insurers and lawyers of cashing in on crash victims by taking fat fees for passing their names on to claims companies.

“Insurers, solicitors and claims management companies have themselves driven up the cost,” said Louise Ellman MP, chairwoman of the Transport Committee.

She demanded more transparency about the charges and that consumers be given clear information on referral fees and who earns money from them.

That prompted finger-pointing between the insurance and legal industries, with both trying to blame the other for rising charges.

Desmond Hudson, chief executive of the Law Society, said: “The insurance industry itself is fuelling the costs of accidents and passing them back to motorists.

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This article from the Colorado Health Institute is quite an eye-opener.  The state of Colorado spent $1,637,000,000 to treat medical issues directly related to obesity in 2009.  And keep in mind that Colorados adult population is the slimmest in the nation - some states spent several times as much as Colorado on treating obesity-related health problems.  Although the figures are eye-popping, we should also remember that although Colorados adult obesity ranking is at the top of the list, our obesity ranking for children is right in the middle (23rd in 2009) of the national comparison.  Si

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Finding travel insurance when over 65 can be difficult. Despite the fact that senior citizens are one of the most likely groups to journey overseas, they often face discrimination when buying travel insurance.

For example, some providers – often those used by travel agents – simply impose an age limit and refuse to cover those over 65. Some insurers no longer offer multi-trip annual cover to older travellers, thus excluding them from the cheapest option.

Other providers may offer cover, but at much higher premiums – typically 60% more than standard.

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The number of Americans praying about personal health issues has increased 36 percent from 1999 to 2007, according to a new study from the American Psychological Association.

The study, which surveyed over 30,000 adults, found that 49 percent of respondents prayed about health issues in 2007.

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Most of us make New Years resolutions every year, but how many people include life insurance in their resolutions?  There are many resolutions we all have in common lose weight, exercise more, quit smoking, drink less alcohol, spend more time with the family, spend less, save more, etc., etc.

Many people have get my financial house in order as a general resolution.  However, what does this mean?

• Unless youre the Federal Government, this would include getting your budget in order so that your expenditures are less than your income (sorry, I couldnt help the easy dig).
• If you have an IRA or other retirement plan, its always a good idea to review your investment mix and modify it, if necessary.
• The end of the calendar year is a good time to start pulling together the financial records you will need to file your tax returns (actually, its a good idea to look at it before the New Year so you can take any last minute deductions available to you.
• Time to review your insurance policies, including home, auto, health, disability and life insurance.  Is your coverage for each adequate or too much or not enough?  Regarding life insurance, if you have had a change in income or significant life changes (marriage, new child, changes in employment) you might want to review your policy with your agent to see if any changes are necessary.

If your insurance agent offers to review your policies, take him/her up on it.  We recommend doing this annually and what better time to do it than when youre making your resolutions?