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Casual Articles - Post-Katrina Role Of Property Insurers Threaten Consumers Nationwide
Many are surprised that Six Sigma refers to their trained experts as “Belts.” There are Green Belts and Black Belts in Six Sigma, referring to a level of training they have achieved. The term Black Belt is not an empty buzzword nor is it a mockery of organized martial arts. Comparing a Six Sigma Black Belt and Martial Arts Black Belt is a revealing exercise.Just like in martial arts, to obtain a Black Belt in Six Sigma requires training that teaches skills and discipline. A Black Belt in both martial arts and Six Sigma is a designation that is not given way or can be bought “off the shelf;” it is something that is earned through hard work. Also like in martial arts, achieving Black Belt level is not an end but a beginning. Six Sigma is about continual learning and continual improvement. Six Sigma is not a mastery of a finite set of knowledge but an understanding of a method. Like in martial arts, being a Six Sigma Black Belt is a responsibility. It’s about intensity, hard wor
Small business accounting software reviews mainly focus on contents of profit and loss account. It is also known by several other titles such as income statement, statement of earnings, statement of operations and profit and loss statement. While the balance sheet, as a stock/position statement, reveals the financial condition of a business at a particular point of time, the profit and loss account portrays, as a flow statement, the operations over/during a particular period of time. The period of time is an accounting period.Since the purpose of every business firm is to earn profit, the operations of a firm in a given period of time will truly be reflected in the profit earned by it. Thus, the income statement/profit and loss account of a firm reports the results of operations in terms of income/net profit in a year. The profit and loss account can be presented broadly in two forms: the usual account form and step form.In operational terms, the accounting report that
Given the focus on the recent one-year anniversary of Hurricane Katrina by the media and government officials and its label as the most costly catastrophic disaster in United States history, there has been little focus on the nationwide impact the property and casualty insurance industry has started to impart on homeowners and businesses in a post-Katrina world.
There has been serious discussion about reforming U.S. insurance laws in the U.S. Congress since 2004, before four hurricanes battered the Florida coast and well before the Katrina and Rita storms hit the Gulf Coast in 2005. However, the insurance industry since Katrina is now not only fighting hundreds of individual and class action lawsuits in Mississippi and Louisiana in the wind v. water debate, but also advocating change in the event of future catastrophic events.
The McCarran-Ferguson Act, enacted in 1945, delegated sole enforcement of insurance regulations to the states, where it was believed better oversight would take place rather than federal government mechanisms. However, state regulators are not law enforcement agencies and do not have the benefit of the arm of the federal government in cases which are beyond their means. Now, many state insurance commissioners, members of the Congress as well as consumer advocacy agencies believe that the whittling away of consumer protections over the years and recent staggering premium hikes, with little public disclosure, builds a case for federal insurance legislation and industry reforms.
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Employees' writing skills - or the lack of them - substantially affect the bottom line in ways you may never have considered. Here are just a few.* Badly written instructions can lead to incorrect procedures, lost time, damaged equipment, lost customers - and lost profit.* Ineffective letters, which often took too long to write in the first place, can create a poor company image, wasted time, bad customer or supplier relations, lost customers - and lost profit.* Interdepartmental miscommunication - often through incomprehensible e-mail exchanges - can lead to fragmentation of the workforce, loss of corporate loyalty, missed collaboration and innovation opportunities, possibly lost employees resulting in more recruitment and training costs - and lost profit.* Cold, impersonal "boilerplate" letters in response to customers' problems or complaints can lead to loss of those customers, bad news spread to their friends and colleagues, loss of present and future
There has been serious discussion about reforming U.S. insurance laws in the U.S. Congress since 2004, before four hurricanes battered the Florida coast and well before the Katrina and Rita storms hit the Gulf Coast in 2005. However, the insurance industry since Katrina is now not only fighting hundreds of individual and class action lawsuits in Mississippi and Louisiana in the wind v. water debate, but also advocating change in the event of future catastrophic events.
The McCarran-Ferguson Act, enacted in 1945, delegated sole enforcement of insurance regulations to the states, where it was believed better oversight would take place rather than federal government mechanisms. However, state regulators are not law enforcement agencies and do not have the benefit of the arm of the federal government in cases which are beyond their means. Now, many state insurance commissioners, members of the Congress as well as consumer advocacy agencies believe that the whittling away of consumer protections over the years and recent staggering premium hikes, with little public disclosure, builds a case for federal insurance legislation and industry reforms.
For many, the American dream of owning a business is in queue right behind owning a home. I was a teenager when I owned my first business. Since then I have bought or started many businesses and helped others do the same. Here are some common mistakes I have witnessed or committed myself.Paying too muchThis results from the combination of all other mistakes. Many new business owners set themselves up for failure by paying too much, which results in higher loan payments, lower operating funds, and reduced borrowing capacity.Letting your emotions ruleIf you have always dreamed of owning a business, it is very easy to get caught up in the strong emotions invoked by seeing those dreams coming true. To counteract your emotions, take your time, do your homework, and enlist the help of objective advisors.Paying for potentialYou should only pay for the business as it stands at the date of purchase, not what it could be in the future. You will have to
The McCarran-Ferguson Act, enacted in 1945, delegated sole enforcement of insurance regulations to the states, where it was believed better oversight would take place rather than federal government mechanisms. However, state regulators are not law enforcement agencies and do not have the benefit of the arm of the federal government in cases which are beyond their means. Now, many state insurance commissioners, members of the Congress as well as consumer advocacy agencies believe that the whittling away of consumer protections over the years and recent staggering premium hikes, with little public disclosure, builds a case for federal insurance legislation and industry reforms.
Managing cash flow can be a challenge for many businesses. But creative funding options like invoice factoring and purchase order (PO) financing can make the job much easier.These financial solutions offer convenient, cost-effective and immediate access to working capital. Invoice factoring and purchase order financing are suitable for companies in just about any industry. They can provide financial support to expand, manage business surges or even meet day-to-day operating expenses. And they're ideal if your company is newer and can't obtain a loan.The Ins and Outs of Invoice FactoringInvoice factoring is easy to set up and terminate. To qualify, you should have no existing primary liens or claims on your accounts receivable. And you must have creditworthy clients who pay their invoices promptly and in full.When factoring customer invoices, you can receive quick cash advances often within 24 hours. Your cash advance is based on the overall value of the in
Are you competing with a company that has much bigger advertising budget then you do? Do you frequently pick up newspapers, publication or trade magazine and see their advertising staring back at you? Anyone with a big advertising budget can spend lot money to buy a lot of ink.The good news is you can strategically invest small amounts of money to generate much more effective ads that immediately drive paying customers into your front door.Many of your competitors want to have their ads appear on specific pages throughout the year. As a result they reserve print ad space well in advance of the actually publication dates. Better yet, they reserves these pages based on advertising dollars they submitted in advertising budgets to their bosses. Late last year. Thankfully bosses love nothing better then to cut advertising budgets once, twice, even three times each year. They just can’t help themselves- which is good news for you.Your competitors plus all other advert
Since 1945 the insurance industry has enjoyed an antitrust exemption and the viability of that rule has been seriously discussed and revisited by the Congress. There have been state accusations of price fixing and price gouging along with collusion in the industry leaving consumers with little information about their homeowners and business property policies, with only the civil or criminal courts left for recourse. It is argued that the antitrust exemption only fuels such a scenario.
The proposed National Insurance Act of 2006 (S.B. 5209) introduced by the Senate Banking Committee on July 11, 2006, would allow insurers to be licensed under a federal umbrella license, to choose between federal or state regulation and to do business in any state without need of state licenses. The U.S. Department of the Treasury would then have jurisdiction to regulate such national insurers. Arguments against such an arrangement cite more endless bureaucracy and red tape with fears that individual states would not be equally treated.
Alternatively, the State Modernization and Regulatory Transparency (SMART) Act introduced in 2004 addresses market conduct, licensing and antifraud data exchanges but has failed numerous times to move through the legislative process. It would leave regulatio
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