Jubilee Celebrations And Insurance

As celebrations continue across the pond to mark the Queen’s Diamond Jubilee it should come as no surprise that insurers have a role to play in the royal event.

A widely-cited report by Santander Insurance found that around six million UK residents will spend a total of  £424 million ($651 million) on house parties over the course of the holiday weekend, spending  £83 each on average on Jubilee-related goods.

However, the insurer went on to warn of the prevalence of accidental damage and theft during party celebrations and urged people to review their home insurance policies and make sure they have adequate cover.

For those taking to the streets to celebrate, the Association of British Insurers (ABI) has published a guide on organizing street parties and other events.

The ABI guide sets out what party organizers need to know, such as:

– Things to consider about your venue, such as is it safe for the number of people you expect, are outdoor activities involved, such as bouncy castles, and what fire aid will be available.

– If planning a street party, steps you need to take, including contacting your local council.

-Â  Any requirements for public liability insurance and how this cover can help party organizers protect against things that could go wrong.

Meanwhile, in an article on its website Lloyd’s has taken a look back through its archives to share the market’s long history of insuring risks associated with Royalty.

We read with interest that:

In the year of Queen Victoria’s Diamond Jubilee in 1897, Lloyd’s underwriters insured the jewels of a visiting Indian Maharajah for  £200,000 and also a charitable scheme supported by the then Prince of Wales Edward VII. The policy paid a claim of  £16,000 when the scheme to sell  £50,000 “hospital stamps† failed to reach expectations after postal authorities refused to postmark the unofficial stamps.†

(Photo courtesy of: AFP/Getty Images via the Daily Mail)

2012 Atlantic Hurricane Season: What’s in a Name?

Today marks the official start of the 2012 Atlantic hurricane season, but already we have seen two named storms form.

Here’s the list of storm names for 2012:

Alberto
Beryl
Chris
Debby
Ernesto
Florence
Gordon
Helene
Isaac
Joyce
Kirk
Leslie
Michael
Nadine
Oscar
Patty
Rafael
Sandy
Tony
Valerie
William

In case you were wondering, the National Hurricane Center (NHC) tells us the list of Atlantic tropical storm names is determined by an international committee of the World Meteorological Organization.

For Atlantic hurricanes, there is a list of names for each of six years that are used in rotation. This means a list is repeated every seventh year, so the 2012 list will be used again in 2018.

The only time there is a change in the list is if a storm is so deadly or costly that the future use of its name on a different storm would be inappropriate for reasons of sensitivity.

More information on the history of naming tropical cyclones and retired names can be found at the NHC website.

Meanwhile, check out the following  handy hurricane-related resources from the I.I.I.