Lawyers Deliver More Debt Than Income

Ongoing law school graduates are in a monetary squeeze as educational cost is rising, however, the chances to acquire 6-figures are contracting.
Most lawyers thought they’d graduate with a normal graduate school debt of approximately $90,000 to $120,000 and have the capacity to procure in any event $100,000. That appears to be a sound budgetary choice. Yet, actually read more

Insurance News December 2018

According to Aon study public transit systems are seeing a increase in liability claims, although ridership declines. Aons study reported that liability claims are rising by 1 percent annual. Overall public transit liability loss rates are as high as 3 percent the study reports. The average claim for 2018 was just below 15.000 USD per accident, the forecasted 2018 accident year loss rate for rail and bus operations stands at 50 USD per 1000 riders. Bus and rail operators are seeing different results in accident claims when the statistics are broken apart.

The claims frequency rates for bus riding is raisng approximately 1.5 percent per year and declining for rail operations by 0.5 percent per year.

For bus operations the frequency claims rate is much higher than for rail operations.

For 2018 prognosed accident year loss rate is at 68 USD per 1000 riders, but only just above 20 USD for rail.

Claims severity for buses is growing at about 2 percent per year and the claims severity for rail increases by 5.5 percent per year.

Loss rate for rail is increasing 5 percent annualy for rail operations, the rate for buses is at 2 percent annualy.

Automobile accident account almost 70%, 92% are vehicle on vehicle accidents. Almost 43 percent of the claims outside the automobile accidents are the passangers falling, with nearly 21 percent of accidents coming from entry or exit.

Beazley has announced that it will pay almost 40 million for California fire. The massive fire burnt almost 240 square miles and more than 50,000 people were facing the evacuation, The Independent reports. Thosands of homes were destryed and doyens of people were killed in this catastrophy.
The Independent reported earlier this year that Beazley paid almost 240 million for huricane claims in New Mexico.

Citizens Property Insurance in Florida hopes to settle 6500 open cases in Huricane Irma lawsuits.
Jay Adams – Citizens chief claims officer said that the company is offering to pay to have appraisers review the disputes and seek resolutions. In case those apraisers can not agree , the state run isnurer is willing to pay for the umpires to make decisions. Citizens hopes that it could reach settlement in approximately half of the 6500 cases which are currently in court, so far only 60 cases reached settlement.

Acrh insurance closes the deal of NY based risk assessment and management company. Arche Capital Group has announced recently that it has acquired risk management, assessment and insurance program firm Mcneil & Co in Cortland NY. McNeil and Co. will continue operating as independent entity
Insurance Group chairman and CEO Nicolas Papadopoulo said that they are excited to complete the transaction, which will allow them to deploy Archs resources to help McNeil expand the presence in the program field.

Mortgage News November 2018

Forecast: December is usally the slowest month when it comes to home sales, but unique dynamics indicate that could not be the case this year. Mortgage rates are turning into lukewarm market and this motivates the home buyers. Rates are at the moment one full percent higher than they were at the end of the 2017, howering just around 5 percent, they are projected to go higher in 2019.


This December the unique dynamics of the market indicates that the situation is good as for home sellers, the same as for home buyers. On one hand the mortgage rates are turning and this motivates the buyers. This is because of the fact that the prices run up so fast during housing shortages in the past that higher rates are having the outsized impact on the mortgage industry. Fairfield states that the currenct rise of the home buyers is due to the fact that they are affraid the rates will be much higher in 2019.


The average mortgage rate at 30 years fixed spiked this fall almost to 5% and they are expected to move even higher in 2019. Consider also the much higher appreciation for home sellers which put the prices higher, so a lot of people were pushed to their financial limits and have hit the affordability wall. Thats the reason the sales of the homes were weaker in the past few months, so that also means new opportunity for home buyers as prices are finaly starting to ease.


The market has changed. Prices are usually 18% lower in the winter months, add 5% rate on top of that and sellers will have to show much more flexibility. The sky is no longer the limit in real estate industry. The housing market usually lets up a bit in the fall and especially this year its favorable for those buyers who have struggled in the last year to get into the housing market. They are entering the market now, because the projections on rates are not very much optimistic for home buyers in 2019.


The number of the new listings of homes is the lowest in december, since a lot of families do not want to move during the school year and buying a home as a present is not traditional Christmas gift, recording to views per property are 21 percent lower in december. Lower supply is on the other hand an opportunity for home sellers, since they dont have much competition. Competition is low, but motivation is high.

8 Tips to Boost Your Credit Score

1.Pay your bills on time

To have a good credit score, means also to pay your bills on time. Credit agencies when calculating your credit score conisder this one of the top criteria and it counts 35% to your overall credit score. On the other hand paying your bills on time also means you dont experience other additional costs as reminder posts which could cost you 10 USD each. It can be very positive simply to set reminedrs, which bill you must pay when, because the bill payments that are delinquent, even by only a few days time frame, can have negative impact to your overall credit score. One way to remind about the dates is simply to fill up a calander or download a personal budgeting app, there are plenty of them around.


2.Work on Paying off your debt

Your total cerdit which is available is known as the open credit utilization. One of the major factors the credit bureau considers in your credit score is the total amount you owe, compared to the total credit available. They usually check your credit card statements and its the best if you never go to the credit card limit or even better if you are not anyway near the credit card limit. Creditors and credit agencies pay close attention to borrowers utilization ratio, the higher the ration, the most difficult is for borrower to give back what he owes on the other hand lower utilization ratio is better and indicates the borrower will most probably pay back credit on time and thus higher credit score.Rule is simple the lower the balance on your credit card, the better credit score.


3.Avoid a new cerdit card application or closing older accounts

The more credit cards you posses, the higher is your credit utilization score. If you want better credit score you should avoid using multiple credit cards, since their limits sum up. Its also worth mentioning that closing your credit card with balance can hurt your credit score and closing your credit card account will not improve your credit score.


4.Pay more than the owe each month

If you have outstanding debt is important to pay it off regularly and if you pay more than you owe each month, this can have a positive impact on your credit score. If you have more than one credit card debt balance, the best thing is to try to pay off the debt on one card and pay the minimum necessary of others. This can help you reduce your debt on credit cards one by one until you pay your debts in full.


5. Have a good balanced debt standing

Having mixed debt is in many cases better than have only one type of debt.
There are plenty types of credit as: student debt, mortgage loan, bank credit cards, retail credit cards, vehicle loans. According to FICO the clients (borrowers) who have mixed type of credit are more probably to pay their debt on time, than those who have only one type of credit. The credit balance will account 10% of your overall credit score.


6.Get a copy of your credit report

Since your credit score is based on your credit report, you should go for credit report to imrpive your credit score. You can simply order your credit report from three major credit bureaus You can order them on Go through them to identify which accounts are problematic and try to work towards better score. You should also revise and check if there are errors in the report and dispute them by writing to the bureau agency. According to FICO (Fair Isaac Corporation) the median credit score in the States is 695.


7.Reduce debt to income ratio (DTI)

DTI or Debt To Income ratio is a measure of your monthly debt payment to overall income. Its the measure creditors use to check your ability to pay your debts from your monthly income. DTI is the ratio between your overall debt to monthly income. Higher DTI ratio means that you have probably more debt that you can support with your salary and you posses greater risk to credit borrower.


8.Do not apply for new credits if not really necessary

There are soft and hard credit inquiries. Hard credit inquiries are: auto loan, student loan, credit card, mortgage, business loan. Soft credit inquiries, which do need your permission are: history of employment, background check of renting an apartment. Each time you apply for a new credit, creditors will pull out a hard credit inquiry, so its best to not apply for a new one if its not really necessary.

Insurance News November 2018

Lieberty Mutual Group (property and casuality insurance broker) announced a new model for its insurance operator (global risk solution).They have roganized the US state operations to six georaphic regions, each of them will be managed by regional executive. Each of six regions will have regional executive who will manage oversea broker relations. The new 6 regional executives are:



David Russo, Mid Atlantic regional executive
Chris Johnston, Midwest regional executive
Ron Gleason, South Central regional executive
Amy Lochhead, Southeast regional executive
Adam Witten, Western regional executive
Bob Thomas, Northeast regional executive



This structure will provide better coordination of brokers and will provide to distribution partners to fully access Liberty more easily, thus creating more opportunities to work together in a multiline way.
Liberty Group has also appointed Ben Johnson as wholesale distribution executive with the task of optimizing the relations in North America.



Tower Hill expands Midwest presence

Tower Hill opened a new office in Missouri. The insurer offers homeoners dwelling fire, condominium products and manufactured housing. Tower Hills also offer specific services as rental homes and rental properties. Along with the new office in Missouri Tower Hill operates in Midwest in five states: Indiana, Illinois, Wisconsin, Ohio and Missouri. In recent statement the company also plans more expansions in 2019. Tower Hill provides property insurance and coverage options that are not widely available,



Worldwide Facilities with new healthcare broker

Worldwide insurer has announced new healthcare broker – Angela Davis. Prior to this position Angela Davis served as vice president Hiscox USA. She holds a bachelor’s degree in risk management and insurance. Before her Hiscox career Davis served as assistant vice president of healthcare at Ironshore.

Mortgage News October 2018

MBA – The Mortgage Bankers Association reported that the applications to buy a new home declined by 2.1% in October 2018 in comparison to October 2017. Applications were also down 11% in comparison to September 2018. This study does not include any adjustments for seasonal patterns. Due to the survey results and other assumptions. MBA also estimates that new single family home sales were at 673,000 in October an increase of September sales rates by 4.7, which were totaling 643,000.



70.9% were conventional loan applications, FHA loans were at 17.1 percent, VA loans 11.2 and RHS/USDA applications were at about 0.7%. Average loan size descreased from $333,086 in September to $331,732 in October 2018. While there were some swings on yearly basis for a new home sales in 2018, the ytd sales pace is 7% higher than in 2017. On the other hand the average size of the loan application is on its lowest point since July 2017, this is normally a sign there has been some new inventory in the real estate sector and that the prices are getting stabilized.



With having mortgage rates on the rise and some prices of homes skyrocketing, a new time has emerged in mortgage lending, the time when aged assumption may no longer apply to mortgages. Rising of mortgage rates eliminate the ability of refinancing for many mortgage borrowers. There is also an affordability and inventory factor which are keeping this market from living up to its full potential and as the hosuing market keeps evolving, shifts in demand of mortgages will shape the winners and loosers in the industry.
The implications of these changes in loan demand go far beyond the bottom line for mortgage lenders and will influence as the direction as the size of several key components of the mortgage industry. Companies will seek to invest more heavily in technology to develop more efficient process and less bureaucracy to improve the borrower experience.



Given the size of role providers as Freddie Mac and Fannie Mae play in the mortgage industry sector, shifts in loan demand will in no doubt influence and recreate policymakers with the future of the government-sponsored companies.
Changes in the demand for loans (both purchase and refinance) can create a distinct outcomes for technology investment and innovation, industry employment and evolvement as for GSE reform. So in the upcoming years we can expect major changes in the mortgage process as well as the flexibility of loans provided.

5 Things Your Travel Insurance Should Cover

1.The ability to cancel for any reason

This option tipically comes with extra cost, but its an essential case your travel insurance should cover. The insurance covers refunded trip costs if the travel is cancelled at least 48 hours before departure. You should get this type of insurance within 7 to 21 days after paying the first deposit for a trip. Look into extended coverage if you are worried about your plans could change.



2.Trip cancellation

In the case of illness or being over-occupied with work, any of those can be the reason to cancel your trip, so that is an important thing to consider with travel insurance. This can cover cancellation of flight or hotel booking. Most cancelation policies will cover the most improtant reasons for cancelling the trip as death or illness in the family, airline going out of business, terorist attack, natural disaster and few others. The best thing is to call travel insurance company and ask them more specific about the reasons of cancelation which are covered by the policy.



3.Medical and health Coverage

If you get injured or ill during the travel, medical coverage on the travel is the best choice. This insurance include seeing the doctor on travel or staying in the hospital and covering the costs of medicine. Its improtant to consider medical insurance on travel, since the national health insurance will not cover health related costs abroad. Those expenses could run into several hundreds or thousands of dollars. One more thing to consider is emergency evacuation, while its most likely you will not need the service to be airlifted out of the country, this costs when such service is needed are devastating and could ruin you financially.



4. Baggage delays or lost baggage

Bags delayed for 24 hours or more, could cause additional costs, since you have to purchase the items you need to replace the items which are delayed. This type of insurance covers the cost of the items you buy on the ground if your baggage is delayed for 24 hours or more. Those costs could sum up to hundreds of dollars for a whole family, so its important to consider to add this type of insurance in your insurance policy. On the other hand if bags are lost, normally an airline company offersa certain amount of coverage.



5. 24-7 global assistance

Majority of people are not aware for this type of insurance and coverage with 24 hour assistance. If you are travelling to a country you dont know the language or customs, a specialist or translator can be a very helpful. The exact services for 24 hour global assistance will vary, depending on your insurance company, but those services include language translation, legal help and medical issues to locating lost property and replacing prescription drugs.

Simple Guide to Pet Insurance

Dogs, Cats and parrots are often considered as family members, that explains why Americans have spent almost 1 Billion USD on pet insurance alone and over 2.1 million pets are insured in the States. The pet insurance rose by 17% in 2017 and is supposed to grow also in the upcoming years. If you are considering pet insurance, these are the factors, expert suggest to consider.



Average illness and accident premium for dogs in 2017 was $535 a year; for cats, the average premium was $335.19 a year accroding to North American Pet Health Insurance Association. The biggest Pet insurance companies to choose from are: Embrace pet insurance, AKC pet insurance, Pets Best, Healthy Paws… You should carefully check what is included in insurance policy and what isnt. For instance some development illnesses are not covered by insurance, nor are the supplements and if your pet gets a disease which could be prevented by a vaccine, the treatment is also not covered by insurance claim. So carefully go through different plans to discover what is covered by pet isnuarnce and what isnt, as with any health insurance plan for humans. Depending on your plan, insurance will cover 70 – 90% of your vet bill. Most policies cover illness or accidents and not the preventive care, there are some exceptions, but thats a trend, according to Gary Richter a veterinarian from California, US.



Anyway owing a pet insurance policy is a smart move, since vet bills can be expensive and could reach up to thousands of dollars, insurance is the only gamble in life, you hope to lose.
Important is to get pet insurance as early as possible, since insurance plans will not cover pre-existing conditions.You can also dramatically lower the cost of insurance if you adopt a dog from a shelter, rather than buying a pedigree dog from a breeder, the reason is pedigree dogs come from a very narrow genetic pool and are prone to genetic disorders and several illnesses.
If you forgot about pet insurance, simply put aside some extra money savings each month for your pet well being, so whenever you need pet care, you have funds ready for vet bills.