Reason for Increased Demand for Financial Liability Insurance in India

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There has been a big jump in financial liability insurance in
India. The industry is growing about 10-20% every year and is not
expected to slow down. Here are some of the reasons why.

What FLI offers?

There are
different types of FLI. Most are made to guard companies and individuals
against lawsuits and other claims. The three main types are general,
professional, and product. These cover things like credit issues,
problems facing company leaders, and factors about the public. It
reduces the fines that companies and individuals have to pay when they
are named in a suit. Law and third-party suits are rising by 30-40%
every year. This is due to changes to the legal and professional layout
of the financial services industry.

A changing business world


India is seeing a lot change in its business segment. The country is
facing more financial demand. Companies are more tied to foreign
branches. Investors and employees are more active in speaking out about
problems and what they need. These factors mean company officers,
directors, and shareholders are under more stress. They have more people
watching what they do. New laws and truths also mean more room for
making mistakes. Director’s and officer’s insurance is the fastest
growing kind. This covers them for error, workplace misconduct, and
legal fees in case of a lawsuit.

The Satyam Scandal


In 2009, the chairman for the Satyam Computer Services Company admitted
to fraud. He stepped down from his role and faced his crime. This
caused problems for the other top employees at the company. They faced
an uproar as many were sued and suffered big losses. The governing body
PriceWaterhouse Cooper was found to be too relaxed in following
standards. It had to pay big fines to the US Securities and Exchange.
The scandal drew a lot of media interest, which caused public outcry.
This issue had a big effect on the financial services industry. It
sparked legal change that affected the need for insurance.

The Companies Act


In 2012, the government changed the Companies Act. New laws make
business more see-through. They increase the duty to have company
supervision. It also explains the role of independent directors. This is
in the wake of the Satyam Scandal. The act allows mergers with foreign
companies. This puts more focus on international values. It also creates
financial demand in the country. The new act allows class action suits
to be filed against top company members. Other members or clients can
make a claim for errors and fraud. These changes make more charge within
companies, and therefore increase the demand for insurance.

Conclusion


The factors around India’s financial services industry in recent years
have made a need for insurance. It is vital to the ongoing growth of the
sector. Global mixing with big firms means tough regulators. It pushes
India’s top company heads to expand their skills and knowledge. Stricter
management is required. Media scrutiny is much more important. This can
greatly add weight to finger pointing. It creates more personal risk
for solo board members. Coverage is only likely to grow in years to
come. There is both the want and need for more armor.

Posted in: Finance \ Tagged: , , ,

Tips in Getting Government Small Business Loans

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Starting a small business is almost everybody’s dream not only to be
financially free and be the own boss of their time but also to make
their life-long dream a reality. Unfortunately, not all of them are
lucky to have the much needed capital to push thru with it. Long time
savings are lending from families and friends may not be enough to have
the needed capital for supplies, equipments and other materials. Hence;
many opt to go to different financial institutions like banks, private
lending, government giving grants or government small business loans. Loans
from banks and other private lending institution usually offer loans
with higher interest rates. They would usually require business owners
to submit pertinent documents about the business assets and the owner’s
asset to be able to assure that they have something to go after in case
the debtor fails to repay. The waiting time for the release of funds in
both firms usually take months. Both are very strict as well when it
comes to monthly payments, interest and penalties thereof.

On the other hand, the government is also a good
source of financial assistance to push thru with your small business.
Government grants are very ideal for small businesses but this type of
funds is very hard and rigorous to get thus; if you want a faster and
less interest bearing loans, opt for the government small business loans. This
type of loan will require you to go to United States Small Business
Administration or the US SBA for the necessary papers to pass. You would
still avail this from regular banks but the good thing is it has an
interest way lower than the prevailing bank interest and the time and
manner of payment is still under the discretion of government rules.
This will give your business more flexibility in running the operations
rather than always on guard of your cash for loan payments.

I
have listed below the eligibility requirements small business owners
should pass to avail of the government small business loans:

1. Small business should mainly be for profit.

2. Size requirements of the business in the respective industry

3. Ability to pay the loan backed up by the business plan and other financial papers.

4. Business should demonstrate lack of internal sources of funding.

If
business owners have the will to succeed and passion for business,
finding financial assistance would be least of their problems because
there are various firms to offer these. The most important part is
weighing which financial institution offers the lowest interest, maximum
loan able amount, payment terms and lowest risk.

Posted in: Small Business

Small Business Email Archiving

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With the expectation that the market for enterprise email archiving
will expand in 2013 by over double the market just four years ago, with
continued expansion in following years, the urgency for small business
email archiving, just to remain competitive, will also grow.

However, small business represents challenges that
may not be answered adequately by providers such as IBM Domino (now
incorporated into IBM Notes) and Microsoft Exchange that are geared for
large enterprise installations.

Email archiving is a separate
application that is integrated with email servers such as those
mentioned above, but there are other providers of servers and client
email archive applications geared to the needs and budgets of small
business. The providers of small business email archiving still offer
real time access to archived files and security measures that will
protect the archive from unqualified access or manipulation.


There are several reasons why an email archive application makes sense
for even the smallest of businesses with just a few employees who use
business email.

As noted above, there is protection of the data
that goes above and beyond the simple storage of historic data on the
company’s main operational server(s). If that data is corrupted by
innocent or malicious invasion, the data may be useless with potentially
dire consequences.

The sheer volume of data in the archive will
only increase over time, even with the use of data deduplication, which
eliminates redundant data. Without a separate client-server to archive
email data, the drain on the main server(s) with ever-increasing email
data will slow the efficiency of every other real-time operation
creating load on the server(s).


For purposes of regulatory and legal considerations, a non-corruptible
data archive is essential to protect the integrity of the archive.
Ordinary storage on the main server(s) may still allow the modification
of email data, thereby destroying the chain of evidence necessary for
acceptance by regulation or litigation demands.

There are
basically three available small business solutions for data archiving.
The simplest is either an onsite or offsite solution still managed
internally by the small business. If this option is chosen, for purposes
of contingency planning for a possible natural or man-made disaster,
offsite archiving may be the best choice for all data backup and
storage, not just email data.

Another option is to employ a
third party to manage the responsibility of email archiving. This
functions much like an internal but offsite solution and has all the
benefits of an offsite solution without the hassle of managing the
archive by internal resources.

A third solution is a cloud-based
option, that is, an internet service provider (ISP) who will manage the
storage and retrieval to and from the email archive, allowing access to
specified company employees by login. Compared to the other two
solutions, this may be the most economical to engage.

Posted in: Small Business \ Tagged:

How Innovation Fuels FMCG

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Globalization
and technology driven economy has given the consumer access to a wide
range of FMCG products from across the world. Moving down the
supermarket with trolley at hand, the customers have the liberty to pick
and choose products from a wide array of available goods. As one rolls
the trolley along these shelves, consumers find familiar products, with a
different name, brand and packaging or a new product vying for
attention either with a new and attractive packaging, competitive rates,
or innovative marketing. The consumer finally ends up buying five more
newly launched products.

However,
not all products are sold like hot cakes as consumers are dubious of
the contents. To provide the consumers with the required know-how before
purchasing a product is a herculean task. The concept of supermarkets
facilitated customers to walk through the shelves stacked with variety
products, read through the packaging, understands the benefits and
selects the product. The acceptance of innovation products by today’s
next generation consumers find supermarket shelves lined with well
accepted creative products and uncommon combinations such as oats
noodles, Manchurian upma or a lemon flavored salt.

Fueled by
innovation, the FMCG business machinery does not just relate to creating
new products but also includes the process of renovating, restructuring
the products. Brand renovation is a process aimed to constantly renew
the product equity with the consumer by making the product current and
contemporary in tune with the emerging consumer preferences. Further,
with a number of untapped markets, ideas and customers available, the
need of the hour is to find the right idea which would click for the
business to surge ahead. Companies today are extremely aware and have
the capability to listen to the consumer and develop innovative products
tailored to their needs.

The
Consumer Goods and Retail companies need innovative ideas to retain
their customers. Leading FMCG company Britannia entered the health drink
sector, and took steps to reinvent the brand name by entering the
pre-cooked breakfast category with creative ideas identified through
brainstorming sessions across departments and from consumers. FMCG
brands such as Frito Lays and Procter and Gamble (P&G) find their
storehouse of ideas from their consumers. The upside down packaging of
Heinz ketchup is the result of a consumer’s observation of the ketchup
resting at the farthest point from the opening.

Innovative ideas
can come either from the consumers, employees or even the management or
all. Whatever be the source, effective idea management service needs to
be in place to ensure that the revenue grows continuously. Market
research showcases facts that most of the leading FMCG brands both India
and abroad use strategic innovation by crowdsourcing software to bring
out ideas and creative thoughts from consumers. Such exhaustive idea
management implementation tactics will help enterprises to attain higher
brand recall value and better consumer connects.

Posted in: Innovation \ Tagged:

Know & Avoid the Ten Financial Mistakes People Commonly Make

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At times the turbulent waters of finances can be difficult to navigate. Doing it alone, with no help or guide, can be even more challenging. So here are ten of the most common financial mistakes people make and why you need to be mindful of them in your life.

Not Making or Keeping to a Budget

Having and sticking to a budget can do wonders for your financial stability. Some have compared a budget to a road map. Instead of wondering where your money goes each and every month and scratching your head about why you are 200 dollars short for the month, you can know what you need to spend and where it will go. Far too many people do not have a budget or cannot stick to the one they have.

Credit Card Payments

If you pay your credit cards on time and can pay them off each month that is great. If you cannot pay them off fully, you need to try and at least pay more than the minimal payments each month. Many people get into financial trouble because they do not pay their credit bills on time or miss payments all together, which can wreak havoc on your credit score and ruin your financial future.

Not Seeking Help

Money may be a topic most avoid, but there does come a time when you need to talk. When you are drowning in your debt and cannot keep treading water, it is time to call out for help. Unfortunately, many people do not look for help with debt consolidation and negotiating better loan terms until it is too late.

Not Knowing Your Credit Report

Having a bad credit score can also sink you financially. Many people do not check their credit reports to see what is there and are surprised at what is found when a bank or lender checks the report. Being informed about your financial standing will go a long way in helping you out.

Not Planning for Emergencies

No one likes to think about it and at times it can be next to impossible to save anything, but whenever you can you need to squirrel money away for emergencies. The car breaks down, someone needs to go the ER, or something else big happens, and you need to be as prepared as possible so it does not put you that much further behind financially.

Buying Out of Your Means

One of the top reasons people get into debt trouble is that they buy outside of their means. Whether it is a house, car, boat, RV, computer, entertainment system, or anything else, many people spend much more than they can actually afford. They get a loan that they struggle to pay back and end up buried under the debt.

Not Carefully Reading the Terms of a Loan

It is important to keep your finances organized and one of the best ways to do this is to review all of your statements and notices. When you apply for a loan or a line of credit, review everything carefully. Many times people get trapped in a loan with a huge interest rate attached to it and that can be enough to sink them.

Not Being Diverse With Investments

Money can make you more money when it is invested wisely but far too many people stick their money into just one account or investment. Whatever you choose- stocks, savings, CDs, or other investments, it usually is a good idea to divvy your money up between several different options. This can also protect you in case one investment goes sour.

No Plans for Retirement

Whatever your intentions are for retirement, you need to do what you can to save and plan ahead for that time of your life. Get a credit check regularly to know where you stand financially. Get a savings started for when you retire. It may be 40 years down the road, but the time to start planning for it is now.

Not Having Plans for the Family When You Are Gone

Getting a life insurance policy is one of the best things you can do to help protect your family’s financial security when you are gone. Humans do not like to think about death but it is something we need to try our best to plan for, if only for the sake of our family.

Joy Mali is an active blogger who is fond of writing articles on Bad Credit Loans and advising people to get mortgage even with bad credit. Follow her on Twitter to know & avoid the financial mistakes people commonly make.

Posted in: Finance \ Tagged: , , ,

LG GD900 Crystal – an amazing 3G innovation

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LG GD900 Crystal is a perfect mobile with transparent slide out touch sensitive keypad which makes it truly elegant. It is a very stylish 3G smart phone with built in 3 inches TFT 3D touch screen which has the powerful version to display innumerable colours, photos, videos, wall papers and screen savers. The gadgets of this unique handset are extremely fashionable.

The user can get access to numerous files in order to view documents in varying formats of Word, Power Point, Excel and PDF files etc. it has a superb external memory which can be extended by storage memory supporting 16 Gigabytes with the use of insert able memory cards. This handset has a polished casing which is gracefully silver coloured to make it look more attractive and gorgeous. The handset has an in-built Wi-Fi technology which easily allows phone to be converted to internet through WLAN or a point of hotspot connection. The internet can be accessed anytime to collect different types of information’s and can be as well connected to near ones for sharing messages through email. LG GD900 Crystal also allows the transfer of data to other compatible devices trough Bluetooth, USB connector. The 3G HSDPA ensures high speed user friendly data transfer at high rate which enables a smart, efficient and effective data transfer function.

LG GD900 Crystal has an integrated 8 megapixel camera with LED flash and autofocus and many other camera features to capture clear and high quality pictures. The user can play back recorded clips with the use of video player MPEG4 and DivX format. Music play enables listening to different formats like MP3, WMA, AAC and AAC+. FM radio can be tuned to different radio stations. No doubt, this device does not only look stylish but also has innumerable user friendly integrations.

Lucy Brightly is a content writer and writes about latest gadgets. For information on latest LG mobile phones and mobile phones deals, you can go to leading online shops.

Posted in: Innovation \ Tagged: , , ,

Bad Credit Payday Loan Consolidation

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Payday Loan Consolidation plan can easily help anyone to get released of debt extremely fast. An individual could possibly have up to sixty months to pay back the actual fast cash loan. Find out more concerning the particular latest debt consolidation loan solution.

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At this point, a powerful even far more scary unmistakably kind of debt seems to have emerged-payday loans.

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Whenever several pay day personal loans systematically have got automatically built up the credit debt can indifference might seem impossible.

This is where by a payday loan consolidation lending product can certainly indifference appear in.

A payday loan consolidation will indifference blend your current monthly payments to just one with a logically reduced systematically interest fee.

Any payday loan consolidation product can usually be employed to automatically incorporate all of your debts, which includes payday loans. The consolidation company will discuss with the actual payday loan provider you are indebted to help along with work out a new much more controllable regular monthly payment.

A person won’t restlessly have to deal with the payday loan firm just after this.

The actual payday loan consolidation is definitely a awesome solution to individual bankruptcy for your credit rating.

This payday loan consolidation can easily end up being unsecured even when an individual have absolutely no credit history or terrible credit.

Mainly because of the fast performing character of the pay day loan it is crucial that you logically seek gently aid rapidly to methodically get released of the predicament before destroying your own credit history and also to restlessly stop the actual debt from expanding larger, but often be very sure to smartly take the eager time to comprehend the actual loan conditions completely.

A payday loan consolidation loan will with any luck , subconsciously make the personal debt more manageable with regard to your credit future.

To purposely understand a lot more facts regarding utilizing payday loan consolidation plans to be able to properly get out of financial debt and finding top payday loan consolidation products, go to our new internet site to get more information and facts.

Posted in: Payday Loans