Annuities

Article Abstract:

Most pension plans offered by Scottish insurance firms accumulate cash in accounts, which can be used to purchase annuities upon the individual's retirement. However, some firms are offering guaranteed pensions with bonuses, profit-sharing plans that provide bonuses throughout retirement, or index-linked pensions that ensure benefit bonuses tied to the Retail Price Index. Among the Scottish firms offering such plans are: Scottish Provident Institution, Provident Mutual, the Equitable Life Assurance Society, Standard Life, Scottish Widows, and Legal and General. Pension plans with annuities have lower values upon retirement than do fixed pension plans, but offer increasing benefits throughout retirement. Because of these increasing benefits, annuity-linked pension plans will most likely become more popular in Scotland in the future.

INSURANCE CARRIERS, Analysis, Economic aspects, Insurance industry, Scotland, Pension funds, Retirement benefits, Annuities

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Insuring against computer fraud

Article Abstract:

Computer crimes are most likely to be committed by a firm's own employees, followed by ex-employees, consultants, or computer 'hackers'. Computer insurance is available, including coverage for damage caused by an unidentifiable perpetrator. This additional coverage for non-employee tampering costs 25 to 50% more than the base policy. Indemnity limits between 1 and 20 million pounds sterling are not uncommon. For a policy to pay, the crime must have been committed within the past 24 months, must be verifiable, and cannot be attributable to employees, ex-employee, or hacker 'mischief' covered by the base policy. The perpetrator does not have to be named. The policy will provide the cost of re-writing software and auditors' fees.

Methods, Software, Safety and security measures, Microcomputers, Computer crimes, Access control, Insurance, Insurance policies, Access control (Computers), Computer access control, Electronic data processing departments, Data processing departments

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