Christchurch in New Zealand Faces Insurance Claims after Earthquakes

A first quake measured at 5.8 was monitored by US Geological survey follow closely by a second quake around the same magnitude.

Buildings were damaged power supplies cut off and the city airport was closed temporarily.

The last earth quake in New Zealand cost the country an estimated £9.9bn. The estimated costs of repairs and insurance claims for this latest quake is likely to be significant. Building insurance, business insurances and maybe public liability claims could all occur in the future. As big big pot holes have appeared in the road.

HMRC Help large firms avoid tax liabilities

Claims that HMRC credibility is in doubt as they have been accused by MPs of favouring large companies and NOT collecting taxes from them.

The Revenue and Customs have £25 billion in unresolved tax bills.  This is a massive area of tax avoiding which needs to be resolved and more professional approach to insure that this does not happen again and that the larger companies do not get indemnity against the taxes they are due to pay.

We need to consider looking very closely at the accounting firms and senior management at HMRC like Dave Hartnett who is the out going permenant secretary and been highlighted as the main person responsible for the failure at HMRC.  He was also 2named by the public accounts committee.

Other private accounting firms should be aware of claims that could be made against their professional indemnity insurance policies

Kim Jong-il Dies The North Korean Leader

The North Korean leader who has led the communist party since 1994 died apparently from a heart attack what will now happen in North Korea and where does this leave the next generation.

It is said that his son may now take over which could open up new talks and offer a fresh hope to new negotiations. With South Korea and the USA North Korea is a very poor country and does have liabilities. It would be sensible to consider professional talks and insurances to the rest of the world that it North Korea stop it explanation into nuclear weapons.

Euro zone Insurance Exposure

Following a recent professional study on the euro zone debt exposure and how it effects insurance providers it has been suggested that the debt of Groupama Insurance, AXA Insurance, Aviva Insurance, Zurich Insurance or Ageas Insurance with higher exposures and debt to shareholders exceeding 150%.

A professional insurance study has calculated the debt of Groupama Insurance to shareholders to be over 300%. Groupama Insurance is possibly the most exposed and the insurance company provides Indemnity to professionals and insurance for assets in many different countries, are seen most at risk.

In the 1980s insurance companies managed to ride out the debt crisis in Latin America whilst the professional banking industry were not so lucky. Insurance companies are well placed to survive and have indemnity with their well spread assets being able to offset any debts should the worst thought scenario become reality.

James Murdoch Quits Executive of Sun & Times/Liabilities May Still be Made.

James Murdoch has quit after a share holder meeting calling for his resignation.

He still remains chairman of the News International Holdings together with his other title as deputy chief operating officer of new corp..

This means that none of the Murdoch family is now represented on the news corp main UK board.

The Leveson inquiry has been gone pretty deep in to the phone hacking investigation in a professional way and James Murdoch's position may not yet Indemnity from further liabilities, should they be brought.