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CGU Insurance
CGU Insurance Limited is an Australian intermediary-based insurance company and forms part of Insurance Australia Group (IAG). CGU Insurance was formed through the global merger of Commercial Union Commercial Union plc was a large insurance business based in London. It merged with General Accident in 1998 to form CGU plc. History Commercial Union was established following a conflagration near London Bridge in 1861, known as the Great T ... plc and NZI's parent company, General Accident plc. The global merger brought together two highly regarded insurers with almost 160 years of experience in Australia. The acronyms of those two insurers were melded together to form CGU which is subsequently no longer an acronym. CGU Insurance sells its insurance products through a network of over 1,000 intermediaries, and more than 100 business partners. CGU employs over 4,000 employees located in over 75 branches and representative offices spread throughout Australia. External links * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Melbourne
Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a metropolitan area known as Greater Melbourne, comprising an urban agglomeration of 31 local municipalities, although the name is also used specifically for the local municipality of City of Melbourne based around its central business area. The metropolis occupies much of the northern and eastern coastlines of Port Phillip Bay and spreads into the Mornington Peninsula, part of West Gippsland, as well as the hinterlands towards the Yarra Valley, the Dandenong and Macedon Ranges. It has a population over 5 million (19% of the population of Australia, as per 2021 census), mostly residing to the east side of the city centre, and its inhabitants are commonly referred to as "Melburnians". The area of Melbourne has been home to Aboriginal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Insurance
General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance. It is called property and casualty insurance in the United States and Canada and non-life insurance in Continental Europe. In the United Kingdom, insurance is broadly divided into three areas: personal lines, commercial lines and London market. The London market insures large commercial risks such as supermarkets, football players, corporation risks, and other very specific risks. It consists of a number of insurers, reinsurers, P&I Clubs, brokers and other companies that are typically physically located in the City of London. Lloyd's of London is a big participant in this market. The London market also participates in personal lines and commercial lines, domestic and foreign, through reinsurance. Commercial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle Insurance
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region. History Widespread use of the motor car began after the First World War in urban areas. Cars were relatively fast and dangerous by that stage, yet there was still no compulsory form of car insurance anywhere in the world. This meant that injured victims would rarely get a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Insurance
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. Additionally, homeowner's insurance provides financial protection against disasters. A standard home insurance policy insures the home itself along with the things kept inside. Overview Homeowner's policy is a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. This means that it covers both da ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worker's Compensation Insurance
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain.” One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that and thus to ensure security of compensation to the workers. While plans differ among jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Australia Group
Insurance Australia Group Limited (IAG) is a multinational insurance company. It is the largest general insurance company in Australia, and also the largest in New Zealand through its subsidiary IAG New Zealand. IAG had its origins in the National Roads and Motorists' Association (NRMA). It is headquartered in Sydney, Australia. The NRMA Insurance business demutualised in July 2000, separating from NRMA, with an issue of shares to NRMA members. NRMA Insurance Group Limited changed its name to Insurance Australia Group Limited on 15 January 2002, according to its website. IAG is an umbrella organization with numerous well known insurance brands it has acquired. The name ''IAG'' is not itself a customer-facing brand. IAG is listed on the Australian Securities Exchange and is a constituent of the S&P/ASX 50 index. Operations Insurance Australia Group has operations in Australia and New Zealand and a presence in five countries in Asia. Its businesses and brands include: Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intermediary
An intermediary (or go-between) is a third party that offers intermediation services between two parties, which involves conveying messages between principals in a dispute, preventing direct contact and potential escalation of the issue. In law, intermediaries can facilitate communication between a vulnerable witness, defendant and court personnel to acquire valuable evidence, whilst in barter, the intermediary is a person or group who stores valuables in trade until they are needed, parties to the barter or others have space available to take delivery of them and store them, or until other conditions are met. In diplomacy and international relations, an intermediary may convey messages between principals in a dispute, allowing the avoidance of direct principal-to-principal contact. Where the two parties are geographically distant, the process may be termed shuttle diplomacy. Where parties do not want formal diplomatic relations, an intermediary state may serve as a protecting p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Union
Commercial Union plc was a large insurance business based in London. It merged with General Accident in 1998 to form CGU plc. History Commercial Union was established following a conflagration near London Bridge in 1861, known as the Great Tooley Street Fire, which destroyed a number of warehouses and wharves along the River Thames as a result of which the fire insurance companies were hit by a series of massive claims. Consequently, they increased their fire insurance rates so dramatically that a group of local merchants and brokers decided to form their own company. This became known as the Commercial Union Assurance Company.Liveing, Edward. '' A Century of Insurance: The Commercial Union Assurance Group 1861 - 1961''. London: H F & G Witherby, 1961 The company established its head office at 24-26 Cornhill in London in 1897. It purchased the Hand in Hand Fire & Life Insurance Society, the world's oldest fire insurance company, in 1905 and The Ocean Accident and Guarantee Cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1998
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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