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Start building your International Health Insurance plan today!

February 05, 2019

Enhance your international medical insurance - add optional benefits to your core plan

Add as many optional benefits as you want and build a plan to suit your needs
International Outpatient

Includes outpatient care and medical emergencies where a hospital admission as a day patient or inpatient is not needed. Also includes consultations with specialists and medical practitioners, prescribed outpatient drugs and dressings, pre- and post-natal outpatient care, physiotherapy, osteopathy, chiropractic care and more.

International Vision and Dental

International Vision and Dental pays for the beneficiary’s routine eye examination and pays costs for spectacles and lenses. It also covers a wide range of preventative, routine and major dental treatments.


International Health and Wellbeing


Provides cover for screenings, tests, examinations and counselling support for a range of life crises. Includes tailored advice and support through our online health education and health risk assessment - helping you take control and manage your health the way you want.

International Medical Evacuation

Provides coverage for reasonable transportation costs in the event that treatment is not available locally, in an emergency. This also includes repatriation - allowing the beneficiary to return to their country of habitual residence or nationality. This also includes compassionate visits for a parent, spouse, partner, sibling or child to visit a beneficiary after an accident or sudden illness.
Start building your International Health Insurance plan today! Start building your International Health Insurance plan today! Reviewed by Lyrical on February 05, 2019 Rating: 5

BUSTED! Davido’s Biggest Secret Has Been Exposed By An Unknown Enemy (Photo)

February 04, 2019

Davido seems to have been busted by Russ Millions after he claimed he sold out the 20k capacity O2 Arena in London where he had his concert. Since last week Friday, his goons have been on social media bragging about how he sold out the arena before he held the show on Saturday. They boasted that he is the first Nigerian to do it. However, fans of Wizkid quickly reminded them that their Starboy did it first when he held a show with AfroRepublik. They also reminded them that tickets for Wizkid’s show where already sold out months before the D-Day, whereas Davido’s own tickets were still available for sale online.
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Undeterred, Davido went ahead to host the show with the place looking filled to the brim. However, it appears the O2 Arena and its 20k capacity wasn’t totally sold out. One of those who performed on the night, Russ Millions, took to social media stating that the show had 17k attendees. Russ Millions wrote: “17,000 People Sold Out in The 02!! Big thank you to @davidoofficial for bringing me out last night #GunLean #RussHour”

 I guess we will now have to wait for the plaque the goons of Davido promised which they say will show he truly sold out the O2 Arena in London.
Music lovers were thrilled by the eccentric performance of musician David Adeleke aka Davido at his first sold-out show at O2 Arena, London. According to reports, the show, which took place on Sunday night, makes Davido the second Nigerian to sell out the Arena following Wizkid’s iconic 2018 show. The show was attended by Edward Enninful,  Editor of British Vogue and supermodel, Naomi Campbell who came to support the Nigerian Afropop star. In true Davido fashion, fans were treated to amazing performances from members of his DMW clan – Mayorkun, Peruzzi, Idowest and Yonda.
Image result for Davido O2 Arena
Prior to his remarkable entrance on stage, international music act, Tim Westwood and Nigerian, DJ ECool entertained the audience with hit songs to keep the energy up. Following this, globally acclaimed actor and Disc Jockey, Idris Elba stepped on stage to announce Davido’s entrance. The musician arrived on a suspended platform eliciting loud cheers from the audience. He went on to perform a catalogue of his hit tracks including ‘Dami Duro’, ‘FIA’, ‘If’, ‘Fall’ and ‘Assurance’, bringing his girlfriend, Chioma on stage as they shared a kiss. The crowd, who were familiar with his lyrics, sang loudly to the songs, creating a charged atmosphere with an energy matched by Davido’s energetic set. There were also few surprise performances including that of Jamaican superstar, Popcaan and Nigerian star, Zlatan. Other artists who took to the stage during the night include Victor AD who performed his smash hit, ‘Wetin We Gain’.
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BUSTED! Davido’s Biggest Secret Has Been Exposed By An Unknown Enemy (Photo) BUSTED! Davido’s Biggest Secret Has Been Exposed By An Unknown Enemy (Photo) Reviewed by Lyrical on February 04, 2019 Rating: 5

Ty Law to be inducted into the Pro Football Hall of Fame

February 03, 2019
After several years on the ballot, former Patriots cornerback Ty Law will be inducted into the Pro Football Hall of Fame.

Law, who played for New England from 1995 to 2004, recorded 36 interceptions, three forced fumbles and 65 passes defended in 141 games with the team. The timing for the announcement that Law will be inducted couldn't have come at a better time, which he acknowledged last night.

Boston Herald:

“This is incredible. You couldn’t write this script (any better). It’s very special to be able to get this honor while my former team is playing,” said Law, who was emotional during the question and answer session with the media Saturday night. “And to play the team that started it off, you couldn’t have written the script better for me.”

Law had a knack for performing on the biggest stage. His most famous interception came in Super Bowl XXXVI against the then St. Louis Rams.

With pressure coming from Mike Vrabel, Rams quarterback Kurt Warner threw a ball that was intended for Isaac Bruce right to Law, who ran it back for a touchdown in the Patriots 20-17 triumph.

 

Law's other extremely memorable highlight was in the 2003 AFC title game against the Colts when he picked off Peyton Manning three times en route to Super Bowl XXXVIII against the Carolina Panthers. 

Law said that when he heard a knock at his Atlanta hotel door, he thought it was room service. Turns out it wasn't.

“I would be a fool not to doubt because I didn’t hear (the knock) the last few years,” Law said. “I tried to stay positive, understanding you’re one of the last 15, and there’s always a chance you’ll get that knock. And when he first knocked, I thought it might be room service . . . but then he (Baker) was there, and it seemed like everything just left my body, the emotion. And when I tried to tell myself, you ain’t gonna cry on TV, I lost that bet.”

This was Law's third time on the ballot. And while he probably didn't need any extra help getting in, he still got some in the form of a Tom Brady letter. Brady fully endorsed Law's candidacy and said that he is the player he is now because he was able to practice against him. 

Joining Law in this year's class are Ed Reed, Tony Gonzalez, Champ Bailey, Johnny Robinson, Kevin Mawae, Pat Bowlen and Gil Brandt. 
Ty Law to be inducted into the Pro Football Hall of Fame Ty Law to be inducted into the Pro Football Hall of Fame Reviewed by Lyrical on February 03, 2019 Rating: 5

“Getting the knock is the best feeling in the world”: Ex-Patriots cornerback Ty Law reacts to being voted to the Hall of Fame

February 03, 2019
He had to wait for quite some time, but yesterday former New England Patriots cornerback Ty Law was finally elected to join the Pro Football Hall of Fame: the 44-year old was one of eight players or contributors chosen. In his third straight year as a finalist, Law will finally join other Patriots greats such as John Hannah or Andre Tippett in Canton. Naturally, the whole process was an emotional one for the three-time Super Bowl winner.
“Getting the knock is the best feeling in the world, I cried like a little baby — I’ll probably have some memes out there at some point, I don’t care, it’s all worth it,” said Law at the NFL Honors ceremony on Saturday night, shortly after he was announced as a member of the 2019 Hall of Fame class. “When you actually get that knock, all emotion just left because you worked your whole life to get to this point. This is definitely the icing on the cake.”
Law will enter the Hall in August because of his impressive résumé: he has both posted gaudy stats over the course of his 15-year career — 10 of which in New England — and also played on championship teams. As one of the “founding members” of the Patriots’ dynasty, Law helped the franchise win its first three Super Bowls all while making some of the biggest plays in the history of both the organization and the league.
“A lot of people talk about that they would trade this for that, I wouldn’t be here without those other things,” said Law when talking about the weight of being named a Hall of Famer when compared to being a Super Bowl champion. “[I wouldn’t be here] without those championship rings, without those Super Bowls, without those big interceptions in the big games. You can’t get any higher than this in football.”
True to his Patriots upbringing, however, Law was quick to point out that he would not have reached this point without the support of those around him. “I’m not just representing myself: I’m representing Willie McGinest, Tedy Bruschi, Rodney Harrison, Troy Brown, Lawyer Milloy, Otis Smith, all those guys that had such an impact on me as a football player and as a champion football player, now a Hall of Famer,” said Law shortly after his introduction (via Evan Lazar).
“I want the world to know that I wouldn’t be here without those guys, and somebody needs to look at those guys and give them an opportunity to stand here as well because this whole dynasty since Tom Brady was at the helm is no accident,” Law, who is now in the Patriots and the Pro Football Hall of Fame, continued. “This was hard work, this was dedication. I’m just one of the guys. I think there should be ore of me like this.”
“I’m not only representing Ty Law, I’m representing the Patriots and all the guys before me and with me that didn’t get the opportunity to do so,” he concluded, once again exemplifying the old Patriot adage that no single player stands above the team. Law, it looks like, has stayed true to this mantra even in retirement and now election to the Hall of Fame.

“Getting the knock is the best feeling in the world”: Ex-Patriots cornerback Ty Law reacts to being voted to the Hall of Fame “Getting the knock is the best feeling in the world”: Ex-Patriots cornerback Ty Law reacts to being voted to the Hall of Fame Reviewed by Lyrical on February 03, 2019 Rating: 5

National academy of top researchers and scholars turns 100

February 03, 2019
Royal Society Te Apārangi is celebrating he kotahi rau one hundred years of electing Fellows (Ngā Ahurei a Te Apārangi) to its Academy this month. Over 14-15 February there will be a number of activities to mark this milestone.
Ngā Ahurei Fellows are elected into the academy for outstanding distinction in rangahau research and scholarship or contribution to advancing pūtaiao science, hangarau technology and aronui humanities. Fellows can use the post-nominal FRSNZ after their name to indicate this honour.
Royal Society Te Apārangi President Professor Wendy Larner FRSNZ says the Ngā Ahurei Fellows contribute greatly to the mahi work of the Society.
“Our Fellows join our expert panels to consider topics we think are important for Aotearoa and provide expert reviews. Recent topics include the potential risks and benefits of gene editing for New Zealand and the impact of artificial blue light on our health and the environment. Our Fellows also join our selection committees for determining who will receive research funding and awards.”
The first Fellows were inducted in 1919, following a review of science in New Zealand by Allan Thomson that recommended a body of Fellows be established, selected on the basis of research or distinction in science.
“The first cohort of Fellows included those who had received the Hector and Hutton medals as well as Past Presidents of the Society. Also inducted was New Zealand’s most famous scientist, Ernest Rutherford,” Professor Larner says.
The original twenty Fellows were:
• Bernard Cracroft Aston FRIC FCS FRSNZ (1871 – 1951)
• Sir William Blaxland Benham KBE MA DSc FRS FRSNZ FZS (1860 – 1950)
• Eldson Best FNZI (1856 – 1931)
• Thomas Frederic Cheeseman FNZI FLS FZS (1846 – 1923)
• Charles Chilton MA DSc LLD MB CM FNZI FLS CMZS (1860 – 1929);
• Leonard Cockayne CMG PhD FRS FRSNZ FLS (1855 – 1934)
• Sir Thomas (Hill) Easterfield KBE MA PhD FRSNZ FRIC FCS (1866 – 1949);
• Clinton Coleridge Farr DSc FPSL FRS FRSNZ (1866 – 1943)
• George Hogben CMG MA FNZI FGS (1853 – 1920)
• George Vernon Hudson FRSNZ FES (1867 – 1946)
• Harry Borrer Kirk MA FRSNZ (1859 – 1948)
• Patrick Marshall MA DSc FRSNZ FGS FRGS FES (1869 – 1950)
• Donald Petrie MA PhD FNZI FLS (1846 – 1925)
• Lord Ernest Rutherford of Nelson OM, DSc NZ PhD FRS Nobel Laureate FRSNZ FRoyAcaddLincei HonDSc NZ, Bristol,Cantab,Cape Town, Dublin, Durham, Leeds, Liv, Lond, Melb, Oxon, Paris, Toronto HonLLD B’ham, Copenhagen, Edin, Glas, McGill, Manc, Melb, Paris, Penn, Wisc) HonPhD Geissen, Yale HonDPhys Clark(1871 – 1937)
• Hugh William Segar MA FRSNZ (1868 – 1954)
• Stephenson Percy Smith FRSNZ FRGS (1890 – 1922)
• Robert Speight MA MSc FRSNZ FGS (1867 – 1949)
• Sir Algernon Phillips Withiel Thomas KCMG MA FRSNZ FLS (1857 – 1937)
• Hon George Malcolm Thomson FRSNZ FLS MLC (1848 – 1933)
• James Allan Thomson MA DSc FNZI AOSM FGS (1881 – 1928)
The Fellows were all men until 1936 when eminent mycologist and plant pathologist Kathleen Curtis was elected. Last year the University of Auckland named the atrium in their new Science Centre in her honour as part of its 125 years of Suffrage celebrations.
Over time the scope of the Academy has been broadened to embrace technology and the humanities. Today there are 429 Fellows from a wide range of disciplines and 15% are women.
“That percentage is clearly still well below where we would like it to be but we have been making progress by encouraging nominations from under-represented groups. We are gaining about 1% more women each year and we are also slowly increasing the numbers of Ngā Ahurei Fellows from other under-represented groups,” Professor Larner says.
“In addition to Fellows we value our Honorary Fellows, Ngā Ahurei Honore a Te Apārangi. These are typically eminent researchers living abroad but originally from New Zealand who maintain strong links with Aotearoa’s research community. In fact, I was an Honorary Fellow when I was working overseas but I transitioned into a Fellow when I took up a post in New Zealand,” Professor Larner says.
New Fellows Seminars
The public will have the chance to hear from the latest cohort of elected Ngā Ahurei Fellows and Ngā Ahurei Honore Honorary Fellows, who will be presenting short seminars on their research as part of the Academy Centenary events.
The new Ngā Ahurei Fellows are experts in topics that include, in the humanities, global justice and migration, public economics, sociocultural theory, intellectual property and constitutional law. In the sciences, topics include enzymes, ultrafast lasers, reproductive and eye health, genetic diseases, medical modelling and sensors, pest control, ecological networks and earthquakes.
The New Fellows Seminars will be held at Royal Society Te Apārangi, 11 Turnbull St, Thorndon, Wellington 1.30pm to 4.45pm on Thursday 14 February. See full programme and register at https://royalsociety.org.nz/news/opportunity-to-hear-from-newest-fellows/
Academy Centenary Dinner
In the evening of 14 February a special dinner will be held for Ngā Ahurei Fellows and a cake will be cut by the oldest Fellow Dr Eddie Robertson OBE CBE FRSNZ who turned 100 last month. A geophysicist, he was Director General of the DSIR in the last 10 years before his retirement. He was elected a Fellow in 1963.
Academy Centenary Symposium
On Friday 15 February a special symposium with the theme of 'inclusive excellence' will be held to explore how to better measure te hiranga excellence across multiple disciplines.
“There are multiple forms of research excellence and this symposium will discuss these and how best to recognise them, so that we can continue to build diversity in our Fellows,” says Academy Chair Professor Richard Blaikie FRSNZ.
“Publication record has been a primary way that distinction in research has been evaluated for our Fellows; however, as our Academy seeks to become more representative and inclusive across the New Zealand research, scholarly and innovation communities, we recognise that publications alone are not the best way of evaluating research distinction. We are developing better understanding of how to evaluate contributions and achievements from a range or researchers, scholars and innovators working in many fields, and this symposium will help to continue this work.”
The symposium will be split into four sessions, each of which will include a keynote and panel discussion. The session topics are:
• Indigenous research (keynote by Professor Linda Smith FRSNZ, University of Waikato)
• Impact and advancement (keynote by Dr Hugh Bradlow FTSE, President, Australian Academy of Technology and Energy)
• Interdisciplinary research (keynote by Professor Dame Anne Glover FRSE, President, Royal Society of Edinburgh)
• Research that informs clinical and professional practice (keynote by Professor Jane Harding FRSNZ, University of Auckland)
The symposium is free and open to anyone who would like to attend. It is being held from 8.45am to 5pm on 15 February at Royal Society Te Apārangi, 11 Turnbull Street, Thorndon, Wellington. For more details and to register visit:
https://royalsociety.org.nz/events/symposium-inclusive-excellence
National academy of top researchers and scholars turns 100 National academy of top researchers and scholars turns 100 Reviewed by Lyrical on February 03, 2019 Rating: 5

Level 2 healthcare program launched to support sector

February 03, 2019
Level 2 healthcare program launched to support sector
New Zealand Tertiary College (NZTC) has launched an introductory level health and wellbeing study program to support a long-standing need of healthcare providers.
NZTC will begin delivering the New Zealand Certificate in Health and Wellbeing (Level 2) in March, adding to its current offering of Level 3 and 4 study options.
The NZQA approved, 12 week program, serves as an introduction to the area of health and wellbeing. Focusing on the practical, students will learn a variety of entry-level skills and will partake in sector-based assessment.
Courses will support learning and development in key areas including person-centred care, communication in a healthcare setting, cultural perspectives, health and safety, and basic practices.
Recognised under the pay equity settlement, the program enables students to work while they study, blending theory with practice, and the ability to begin in any month of the year with monthly intakes.
“We are exceedingly proud to be able to support the wider health and wellbeing community, and we take up this new responsibility with a commitment to offering key, practical, learning wrapped in extensive student support for the students who choose NZTC to journey with them to achieve their study goals,” said Chief Executive Selena Fox.
“This Level 2 program of study was prompted by the New Zealand health and wellbeing community. Sector voices of training needs resounded and we are thrilled to support this need. We look forward to welcoming our first students in the weeks ahead.”
NZTC is a trusted NZQA Category 1 provider with a 37 year history of delivering study programs to empower people to care, educate and serve their communities.
To learn more about NZTC’s health and wellbeing programs visit www.nztertiarycollege.ac.nz/health-and-wellbeing
Level 2 healthcare program launched to support sector Level 2 healthcare program launched to support sector Reviewed by Lyrical on February 03, 2019 Rating: 5

Public healthcare: Wider discussion needed on RM2bn from insurance firm

February 03, 2019
Jeyakumar Devaraj, A Sivarajan and Soh Sook Hwa have written to the finance minister to express grave concern about the plan to expand the existing health insurance model in the country.

Our proposal for the RM2bn from Great Eastern company

This letter is our third letter to you on this issue. Unfortunately, until now we have not received any response from you although we have requested (through our letters dated 25 November 2018 and 17 December 2018) an appointment to meet and discuss this important matter with you.
Our purpose in delivering this letter is to elaborate on some points that outline our stance on health insurance and to request once again for an appointment with you to discuss this matter in more depth.
The Malaysian government should avoid promoting the development of the existing health insurance system within our country – because the existing insurance system:
  • is offered by private companies with the motive of making profits for their shareholders
  • has premiums based on the health status of each individual covered (risk rated)
  • offers many differing levels of coverage (depending on the premium paid)
  • has a high administrative cost
  • and will further marginalise 70% of the lower-income citizens of this country.
So it is important to make sure that the RM2 billion donated by an insurance company is not used in a way that drives Malaysians to become customers of private insurance companies.
If our country decides to use insurance to cover the cost of medical treatment for our people, the health insurance system should be reorganised to be a “social health insurance system”,
  • which has a single payer and is implemented by a non-profit institution, similar to EPF or Socso
  • under which contributions are not based on individual health profiles but are “community rated” where contributions are a fixed ratio of each household income
  • whose coverage is comprehensive and covers all treatment currently available at government hospitals
At this point, even a social health insurance system will not bring benefits to our country because:
  • the income of the bottom 40% of households is low and one more deduction (maybe 8% of their salaries) will be an additional burden on them
  • there are about 1.5 million families with low income, working in the rural sector – farmers, tappers, fisher folk, Felda settlers, etc. In addition, there are 1 million micro-businesses in our country and more than 3 million EPF contributors currently earn less than RM2,000 a month. The government would have to pay the insurance premiums for all these groups, and the amount will probably be more than the health allocation now.
The funding of the public healthcare system at this point is by the “capitation” method whereby one provision (RM28bn for 2019) is used to cover all the costs of treatment given in government hospitals and clinics.
The insurance system will switch this to a payment system in which every treatment, procedure and operation will be calculated and charged to the health fund (the “fee-for-service” method) and the cost of treatment will increase.
Currently, our country is spending RM55bn a year for all health costs in our country (taking both public and private into account). The social insurance system with the fee-for-service method will increase the total cost of treatment to RM100bn or more.
The health insurance system will not save costs for the federal government.
There is a high probability that the social insurance system will drive the development of private hospitals and further weaken public hospitals as a result of the accelerated migration of specialists to the private sector.
This will have a negative impact on our people in the East Coast, Sabah and Sarawak as well as in rural areas of the West Coast. Currently only the government system provides medical services in the rural areas and in much of the East Coast.
Because of all these facts, the decision to expand health insurance should be discussed in-depth among all stakeholders before any final decision is taken.
The RM2bn fund donated by the insurance company can be used to alleviate the burden of public sector patients who are required to make co-payments in the form of screws and plates for orthopaedic surgery, lens for cataract surgery, stents for angioplasty and many other implants that now need to be bought by patients treated at government hospitals.
There are several other related issues that we would like to discuss, and we hope we can get an appointment to meet and discuss with you.
Dr Jeyakumar Devaraj is a central committee member of the Sosialist Party of Malaysia whereas A Sivarajan is the general secretary and Soh Sook Hwa is the treasurer.
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Public healthcare: Wider discussion needed on RM2bn from insurance firm Public healthcare: Wider discussion needed on RM2bn from insurance firm Reviewed by Lyrical on February 03, 2019 Rating: 5

2019 MITO scholarship recipients announced

February 03, 2019
49 outstanding individuals have been awarded 2019 MITO scholarships to help further their careers.
Developed to assist aspiring and successful graduate learners to progress their skills and knowledge, the MITO scholarship programme contributes funding towards apprenticeships, training programmes and business management qualifications.
“MITO is excited to award these scholarships to our 2019 recipients and we congratulate them on their success,” says MITO Chief Executive Janet Lane. “They have shown great passion and tremendous commitment to contribute to the future of their respective trades and we will support them every step of the way”.
The 2019 scholarship recipients are in six categories:
The Kick Start scholarships are awarded to individuals who have full-time employment or an offer of full-time employment in one of MITO’s industries in 2019 and have not previously been enrolled in a MITO training programme at Level 4 or above. This scholarship pays the first year fees for any MITO apprenticeship or traineeship programme at Level 4 or above. The recipients are:
• Alexander Lewis, Auto Gas Specialists Ltd, Timaru
• Annelise Ruffell, Heavy Trax Hire, Cromwell
• Benjamin Fisk, Agricentre South Ltd, Milton
• Brock Boaler, Kelly Automotive Services Ltd, Hastings
• Bryce Taylor, Caltex Kaikoura, Kaikoura
• Daniel Hutton, CLAAS Harvest Centre Canterbury, Waipara
• Joshua Cooper, Automotive Solutions Limited, Invercargill
• Kane Robins-Watts, Raxworthy European Ltd, Christchurch
• Regan Hawkless, Intertruck Distributors (NZ) Ltd, Tauranga
• Samantha Fiveash, Aorangi Motors Limited, Timaru
• Shane Turner, Huka Motorcycles Limited, Taupo
• Shania Smith, Transpec Services Ltd, Palmerston North
• Xander Nortje, Access Solutions Ltd, Auckland
The Kick Start Māori and Pasifika scholarships are awarded to individuals of Māori or Pasifika ethnicity who have full-time employment or an offer of full-time employment in one of MITO’s industries in 2019 and have not previously been enrolled in a MITO training programme at Level 4 or above. This scholarship pays the first year fees for any MITO apprenticeship or traineeship programme at Level 4 or above. The recipients are:
• Jacinda Lush, Power Farming Hawkes Bay Ltd, Hastings
• Jordan Te Paki, Honda Cars Wellington, Wellington
• Liam Gardner, Grant White Autobody Ltd, Hastings
• Kaleb Carpenter, Poland Motors Ltd, Wellsford
• Viliami Tuanaki, John Bates Wheel Alignment Hawkes Bay Ltd, Hastings
The MITO Alumni scholarships are awarded to individuals who have completed a qualification at Level 4 or above through MITO and who wish to continue their studies. This scholarship contributes up to $2,000 towards any advanced programme of study related to their industry. The recipients are:
• Cassidy Repia, WD Price Panelbeaters, Auckland
• Garth Peacock, Titan Cranes Ltd, New Plymouth
• Jaxon Kuvarji, Mayne Automotive Penrose Ltd, Auckland
• Michelle Findlater, GWD Russells Limited, Invercargill
The Business Skills scholarships are awarded to current or aspiring managers or supervisors in one of MITO’s industries and pay for the programme fees for MITO's First Line Management programme. The recipients are:
• Amanda Rowe, Putaruru Tractor Services Limited, Putaruru
• Andrew Wilson, Christchurch Mitsubishi, Christchurch
• Clive Penny, Otorohanga Automotive and Mechanical Ltd, Otorohanga
• Ethan Burbery, MS Ford Nelson, Nelson
• Gemma Scott, Drivetech Ltd, Invercargill
• Jeff Worrall, St John Ambulance, Auckland
• Jesse Williams, Tauranga Repowers Ltd, Tauranga
• Jethro Robbins, Honda Hamilton, Hamilton
• John Edwards, AB Equipment Limited, Christchurch
• Kate Nickalls, Power Farming Te Awamutu Ltd, Te Awamutu
• Krishna Chand, Truck Stops NZ Ltd, Auckland
• Liniya Jayasuriya, Ritchies Transport Holdings Ltd, Auckland
• Matthew Green, Taradale Kwik-Fit and Automotive Ltd, Napier
• Matthew Pluck, Avon City Ford, Christchurch
• Micah Townshend, AdvanceQuip NZ Ltd, Christchurch
• Paige Hassan, Geodis New Zealand Ltd, Auckland
• Ronald Noorlander, Franklin Engineering Services Limited, Auckland
• Soma Csepcsenyi, AB Equipment Limited, Auckland
• Taylor Bouzaid, Collision City Mosgiel, Mosgiel
• Thomas Maere, GoBus Transport Ltd, Invercargill
• Tyrone Campbell, Peter Long Collision Repairs Ltd, Palmerston North
• Vicki Reed, QEII Collision Repairs Ltd, Christchurch
• Warwick Pilcher, Tristram Marine Ltd, Hamilton
The Business Skills Māori and Pasifika scholarships are awarded to current or aspiring managers or supervisors in one of MITO’s industries who are of Māori or Pasifika ethnicity and pay for the programme fees for MITO's First Line Management programme. The recipients are:
• Koriana Williams, Te Aratika Drilling Limited, New Plymouth
• Sione Inoke, Gleeson & Cox Transport, Auckland
The Clyde Cunningham QSM Memorial scholarships are awarded to MITO automotive graduates in the Hawke’s Bay region and honour a long-standing MITO employee. This scholarship pays for the programme fees for MITO’s First Line Management programme. The recipients are:
• Ethan Robertson, Deakin Motors Limited, Hastings
• Rex Matthews, Pit Stop Napier, Napier

2019 MITO scholarship recipients announced 2019 MITO scholarship recipients announced Reviewed by Lyrical on February 03, 2019 Rating: 5

Insurance, banking holding companies set to emerge in March, April

February 03, 2019
The State-Owned Enterprises (SOE) Ministry plans to establish a state-owned insurance holding company and state-owned banking holding company in March and April ,respectively, in trying to improve efficiency of government businesses in the two sectors.
 “I hope the state-owned insurance holding company is established next month and will be followed by the establishment of a state-owned banking holding company in April,” said SOE Minister Rini Soemarno in Jakarta over the weekend as reported by kontan.co.id.
In addition to improving efficiency, she added, the establishment of the holding companies was expected to improve foreign investors’ confidence to the country’s economy.
The government had assigned state-owned insurance company PT Jasa Raharja as a leading company for the holding establishment with the three other state-owned insurance companies – PT Asuransi Kredit Indonesia (Askrindo), PT Jaminan Kredit Indonesia (Jamkrindo) and PT Asuransi Jasa Indonesia (Jasindo) – as the members.
Jasa Raharja corporate secretary Harwan Muldidarmawan said the company would implement the government’s decision to establish the insurance holding company.  He, however, was reluctant to comment on the plan, saying that it was the SOE Ministry’s domain to explain the plan.
The government established a number of holding companies recently, including state-owned plantation holding company PTPN III, state-owned mining holding company PT Indonesia Asahan Aluminium (Inalum) and state-owned holding company Pertamina. (bbn)
Insurance, banking holding companies set to emerge in March, April Insurance, banking holding companies set to emerge in March, April Reviewed by Lyrical on February 03, 2019 Rating: 5

Life insurance industry will need to be dragged to reform

February 03, 2019
Financial Markets Authority chief executive Rob Everett was under-stating the case when he said the life insurance industry isn’t capable of making necessary changes on its own.
Everett said the FMA had told the government that it hasn’t seen sufficient evidence of the industry’s willingness to change.
“I don’t believe the industry will do it quickly enough or well enough, left to itself,” he told journalists last week.
Given the life industry reaps premiums totalling $2.57 billion a year, some sort of rearguard action to protect their patch is to be expected.
Yet, to date, the major firms have been conspicuous by their silence.
The way industry reacted to a much milder report produced in November 2015 by consultants Melville Jessup Weaver suggests it will have to be forcibly wrestled, kicking and screaming all the while, into dealing with the root cause of the problem - its commission structure.
The industry had financed the 2015 report through the Financial Services Council, which represents 10 of the companies included in the FMA/Reserve Bank report on the life insurance industry published last week.
When the 2015 report was published, a number of companies including Asteron Life, AIA and Partners Life said they were resigning from the FSC because of it – they obviously relented because they’re still members.
And the report was published with a disclaimer including the statement that “some FSC members believe there are matters covered in the report that are outside the scope as approved by the funders.”
Partners Life managing director Naomi Ballantyne, who also founded Sovereign, said her company had only joined the FSC on the understanding that it would raise awareness of the benefits of life insurance and would avoid undertaking any projects relating to distribution models.
Ballantyne accused MJW of having “a pronounced bias against independent advisers” and that, rather than genuinely consulting with the industry, it had used its report to “sell” its opinion.
Asteron Life’s then managing director Nadine Tereora, now Fidelity Life’s chief executive, said the MJW report didn’t fairly represent the adviser community.
John Body, ANZ’s managing director of wealth, which includes OnePath, said the industry shouldn’t be debating commission structures because “the market sets commissions” and that it’s difficult to draw conclusions from lapse rates.
It was hardly surprising that the Professional Advisers Association leapt to their defence, saying that tipping advisers’ business models upside down wasn’t in consumers’ interests.
The PAA disagreed “with the view that advisers present the greatest conflict of interest,” chief executive Rod Severn said then.
A similar report with similar conclusions and recommendations came out in Australia earlier in 2015, known as the Trowbridge report.
Michael Dowling, president of the Institute of Financial Advisers argued that New Zealand’s environment was quite different to Australia’s, a complaint that has eerie similarities to Reserve Bank governor Adrian Orr’s argument early in 2018 before he faced up to the fact that such dismissals of the revelations coming out of the Australian royal commission were untenable.
That’s especially so since Australia’s Big Five financial institutions, Commonwealth Bank of Australia, National Australia Bank, Westpac, ANZ Bank and AMP, own New Zealand’s big five.
The complainers in 2015 and other companies in the sector have been conspicuous by their silence in the face of the FMA/Reserve Bank report, although in some ways, the 2015 report was mild by comparison.
For example, MJW had requested information from insurers on the percentage of sales of “new” policies that were actually new, rather than simple switches from one policy to another.
From the responses, it concluded that about 10 percent of the business written by banks was replacement of existing policies but that it was between 40-50 percent of the business written by financial advisers.
That proved to be a significantly conservative estimate.
The FMA used its legislative teeth, section 25 of the Financial Markets Authority Act 2011, to require 12 life insurers to provide it with data for the period April 2011 to March 2015.
From that data, the FMA concluded that just 2 percent of supposed new business is genuinely new and the rest is replacement activity.
A certain amount of replacement activity is legitimate because people’s circumstances change over time, but that level of replacement activity is a strong indicator that advisers have been churning their customers out of old and into new policies to generate commissions.
Adding to that suspicion, MJW found that much of the replacement activity occurs three years after a policy starts. Usually, clawbacks of commission only last for the first three years a policy is in place. After that advisers are free to switch their customers to restart the commission merry-go-round.
The FMA/Reserve Bank report estimates that upfront commissions paid on “new” policy sales range from 170-210 percent of the first year’s premiums, followed by trail commissions of less than 10 percent a year, and that commissions account for about 25 percent of gross premiums paid in New Zealand.
That’s way out of whack with the rest of the world: data sourced from the OECD shows Hungary and Mexico are the next highest commission payers but that accounts for only about 15 percent of total premiums in those countries.
Australia pays about 12 percent of total premiums in commission, although a number of industry players point out that many Australians get their life insurance through their superannuation funds.
Asked about such differences, the FMA and the Reserve Bank say they believe the data is essentially comparable across countries, in particular in relation to sales costs incurred as commission.
It’s clear that changing the commission structure in New Zealand’s life insurance industry is going to take legislation, something Finance Minister Grant Robertson and Commerce and Consumer Affairs Minister Kris Faafoi have promised to fast track.
That’s because if any one insurance company decided to follow the MJW recommendation to cut its upfront commissions to 50 percent of the first year’s premiums, most, if not all, of its agents would immediately switch their clients into policies provided by other companies that continued to pay the current industry standard 170-201 percent commissions.
Life insurance industry will need to be dragged to reform Life insurance industry will need to be dragged to reform Reviewed by Lyrical on February 03, 2019 Rating: 5
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