Category Archives: Insurance

Thai Delivery Platform Giving Its All Of Its Drivers Insurance

It’s always good to hear of a company doing what they can to insure (get it?) their workers’ safety and well-being.

Such was the case with Lalamove, Thailand’s newest on-demand delivery platform, which recently partnered up with Frank Insurance Broken, to provide their 40,000+ drivers with accident cover, life, car, bike, and health insurance in Thailand, to ensure their safety while upholding the company promise of ‘fast delivery within 1 hour’.

All of Lalamove’s drivers in Thailand will be receiving Compulsory Health Insurance, Personal Accident Insurance, and Vehicle Insurance.

According to Lalamove’s Marketing Manager, PasitThiannapapornchok, the move is the company taking steps to embrace its growing corporate responsibility and best practice business development, something that is becoming an even greater part of the company as it grows and develops.

Thiannapapornchok says that caring for their drivers via adequate life, vehicle medical, and health insurance in Thailand is about a clear sense of community within the company and its workers, as well as looking after the wellbeing of their valuable Lalamove personnel in Thailand. The business, they say, has grown rapidly since its establishment in 2013, so its a sensible move for them to take care of their drivers as they’re the company’s most valuable assets. Beyond this, Thiannapapornchok  says that the company believes that good business is about responsible business accountability.

Frank Insurance Brokers is a leading online insurance platform in the country, specializing in personal insurance coverage. This partnership is the first time the provider has moved into the business-to-business (B2B) sector in the country.

Co-Founder and Managing Director HarpremDoowa, Frank Insurance Broker, says that business is about people, and by offering adequate insurance to their workers, Lalamove is giving them incentive to be loyal, as well as adopting a corporate culture that is people-focused, and allows people to feel comfortable in their daily work, which will then reflect in how they treat the end-users.Doowa says that Frank Insurance Brokers are excited for the opportunity to support Lalamove in their quest to provide quality care for their drivers in Thailand.

The company’s belief that good business is about responsible business accountability is something worth admiring; something that the business world, at large, should really embrace. There’s been a lot of news about companies being in hot water for not treating customers and employees properly, and it shows how corporate culture really needs to change. A single company getting all of their workers insurance might not be a big change, but it’s a good thing to see, all the same.

CEO Believes Many Financial Plans Are Not Accurate

If you think you have the best financial adviser in the world, think again because according to Joe Duran who is the CEO of United Capital, many financial plans are not correct. He further explained that the mistake lies in the fact that majority of the financial plans do not take into account the personal matters in the life of the investor such as biases as well as fluidity in terms of goals in investment.

This is why he has come to the conclusion that majority of the financial plan that has been devised are actually inaccurate. These plans have come to two assumptions rather than conclusions. The first assumption is that the investor is just an average individual while the second assumption pertains to the market to be in an average level as well.

The fault with these strategies is that they did not take into account that there is stress surrounding the investor. How he or she handles that stress is up to him or her. Another point is that a person’s goals are rarely the same all throughout their lives and some or all could change at one point or another.

If you want to ensure that you are following the right financial plan, ask these necessary questions. The first one is what is your end game? Getting a lot of money should not be the single goal of a person. Duran said that once you have a lot of money on your hands, your choices will broaden too. Your motivation in earning a lot of money will decide how you spend as well as make use of your money.

Second, think about the trade-offs you are willing to do in case these goals have somehow come across one another. There will come a time when you have to choose what your priorities are. Third, it is important to ask whether you financial advisor will be able to help you or not. You will know that you have the best financial adviser if your plan is handled like a living document rather than a static file for the next three decades.

Accountant Insurance As Protection Against Cybercrimes

Cybercrime is a threat that accountants cannot afford to ignore. Accountants handle sensitive financial information for their clients and data theft can put them at great risk. It is important for accountants to mitigate the risk through accountant insurance to avoid serious financial consequences. Accountants face different unique challenges which requireproper coverage against potential liabilities.

Hackers and scammers are all over the web and even the small accountant from the suburbs is not safe from the risks of losing important data. It is not just the threat of ransomware that accounting firms must be aware off but the data theft hackers who can earn easy money by selling the client’s information on the dark web.

The most common solution against ransomware is to backup files using cloud services instead of giving in to the demands of hackers. However, there are instances when cloud storage is not enough. For example, an independent practitioner chose to have her data wiped out and restore the backups instead of paying money. Unfortunately, her data backup strategy was not foolproof; she did not have the necessary discs to reinstall the old software.

The practitioner purchased a new version of the software but it failed to load data backups in the old file format. If she used subscription cloud services and paid a few dollars to secure data online with the latest version of the application, she would have been spared the frustrating circumstances. However, the impact of cyber attacks is far wider than the data on your desktop.

Big accounting firms can afford millions of dollars in losses but local accountants and bookkeepers may face serious financial loses. There are ways to protect data against cyber attacks through firewalls, and up-to-date anti-virus and anti-malware. It also makes sense to have accountant insurance to provide coverage against various risks faced by the profession.

Demand for accountant insurance has dramatically increased because of the proliferation of cyber attacks. The insurance provides protection in areas like PR management, breach notifications, business interruptions and third party losses. Do not ignore the threats to your profession; start to understand your exposure and prepare yourself through insurance.