Insurance Crash Test

Insurance Crash Test

The Insurance Institute for Highway Safety (IIHS) is a U.S. non-profit organization funded by auto insurers, established in 1959 and headquartered in Arlington, Virginia. It works to reduce the number of motor vehicle crashes, and the rate of injuries and amount of property damage in the crashes that still occur. It carries out research and produces ratings for popular passenger vehicles as well as for certain consumer products such as child car booster seats.

The Institute's front crash test differs from that of the American government's National Highway Traffic Safety Administration (NHTSA) New Car Assessment Program in that its tests are offset. This test exposes 40% of the front of the vehicle to an impact with a deformable barrier at approximately 40 mph (64 km/h). Because only 40% of the vehicle's front must stand the impact, it shows the structural strength better than the NHTSA's full-width testing does. The IIHS began this crash test in January 1993.

Many real-life frontal impacts are offset. However the NHTSA's full frontal crash tests result in the occupant compartment going through greater deceleration. The full frontal crash test is more suitable for evaluating restraint systems such as seat belts and airbags.

The IIHS and NHTSA tests can differ. For example, the NHTSA gave the Chevrolet Venture (also marketed as Oldsmobile Silhouette,Pontiac Montana/TransSport) 4/5 stars (with 5 stars being the best and 1 star the worst), but the IIHS rated it "Poor" for its poor structural integrity which becomes apparent in the offset crash test. This minivan was one of the poorest performers since the offset frontal crash tests were begun in 1995. The same applies for the 1997–2003 Ford F-150.

Read More

What Is a Patent?

What Is a Patent?

A patent (/ˈpætənt/ or /ˈpeɪtənt/) is a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time, in exchange for the public disclosure of the invention. An invention is a solution to a specific technological problem, and may be a product or a process.

Patents are a form of intellectual property. The procedure for granting patents, requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a patent application must include one or more claims that define the invention. These claims must meet relevant patentability requirements, such as novelty and non-obviousness.

The exclusive right granted to a patentee in most countries is the right to prevent others from making, using, selling, or distributing the patented invention without permission. Under the World Trade Organization's (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights, patents should be available in WTO member states for any invention, in all fields of technology, and the term of protection available should be a minimum of twenty years. Nevertheless, there are variations on what is patentable subject matter from country to country.

Read More

Examples of Intellectual Property

 Examples of Intellectual Property

Licensing violations are among the most prevalent examples of intellectual property rights infringement. Other examples include plagiarism, software piracy, and corporate espionage.

Intellectual property rights worldwide are agreed, defined, and enforced by various organizations and treaties, including the World Intellectual Property Organization (WIPO), World Customs Organization (WCO), World Trade Organization (WTO), United Nations Commission on International Trade Law (UNCITRAL), European Union (EU), and Trade-Related Aspects of Intellectual Property Rights (TRIPs).

Intellectual property is protected by U.S. law under one of the following four classifications.
 Examples of Intellectual Property

Patents

A patent is defined by the U.S. Patent and Trademark Office (PTO) as "the grant of a property right to the inventor." A patent grant confers upon the owner "the right to exclude others from making, using, offering for sale, selling, or importing the invention." Examples of computer-related objects that may be protected by patents are computer hardware and physical devices in firmware.

A patent is granted by the U.S. PTO for an invention that has been sufficiently documented by theapplicant and that has been verified as original by the PTO. A patent is generally valid for 20 years from the date of application and is effective only within the U.S., including territories and possessions. The owner of the patent may then grant a license to others for use of the invention or its design, often for a fee.

The Patent Cooperation Treaty (PCT) provides some international protection for patents. More than 130 countries worldwide have adopted the PCT.

Patent grants were previously valid for only 17 years but have recently been changed, for newly granted patents, to 20 years.

Trademark

A trademark, as defined by the U.S. PTO, is "any word, name, symbol, or device, or any combination, used, or intended to be used, in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others." Computer-related objects that may be protected by trademarks include corporate brands and operating system logos. U.S. Public Law 105–330, the Trademark Law Treaty Implementation Act, provides some international protection for U.S.-registered trademarks.

Copyright

A copyright is a form of protection granted to the authors of "original works of authorship," both published and unpublished. A copyright protects a tangible form of expression rather than the idea or subject matter itself. Under the original Copyright Act of 1909, publication was generally the key to obtaining a federal copyright. However, the Copyright Act of 1976 changed this requirement, and copyright protection now applies to any original work of authorship immediately from the time that it's created in a tangible form. Object code and documentation are examples of computer-related objects that may be protected by copyrights.

Copyrights can be registered through the Copyright Office of the Library of Congress, but a work doesn't need to be registered to be protected by copyright. Copyright protection generally lasts for the lifetime of the author plus 70 years.

Trade secret

A trade secret is proprietary or business-related information that a company or individual uses and has exclusive rights to. To be considered a trade secret, the information must meet the following requirements:

• Must be genuine and not obvious: Any unique method of accomplishing a task would constitute a trade secret, especially if it is backed up by copyrighted, patented, or copyrighted proprietary software or methods that give an organization a competitive advantage.

• Must provide the owner a competitive or economic advantage and, therefore, have value to the owner: Google's indexing algorithms aren't universally known. Some secrets are protected.

• Must be reasonably protected from disclosure: This doesn't mean that it must be kept absolutely and exclusively secret, but the owner must exercise due care in its protection.

Software source code or firmware code are examples of computer-related objects that may be protected as trade secrets.

Read More

Intellectual Property Definition | What Is Intellectual Property

Intellectual Property Definition | What Is Intellectual Property

Intellectual property (IP) is a legal concept which refers to creations of the mind for which exclusive rights are recognized. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights, trade dress, and in some jurisdictions trade secrets.

Although many of the legal principles governing intellectual property rights have evolved over centuries, it was not until the 19th century that the term intellectual property began to be used, and not until the late 20th century that it became commonplace in the majority of the world. The British Statute of Anne (1710) and the Statute of Monopolies (1624) are now seen as the origins of copyright and patent law respectively.

Common types of intellectual property rights include patents, copyright, industrial design rights, trademarks, trade dress, and in some jurisdictions trade secrets. There are also more specialized varieties of sui generis exclusive rights, such as circuit design rights (called mask work rights in USA law, protected under the Integrated Circuit Topography Act in Canadian law, and in European Union law by Directive 87/54/EEC of 16 December 1986 on the legal protection of topographies of semiconductor products), plant breeders' rights, plant variety rights, industrial design rights, supplementary protection certificates for pharmaceutical products and database rights (in European law).

Read More

Oriental Insurance | The Oriental Insurance Company

Oriental Insurance | The Oriental Insurance Company

The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country).

In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government. The Company is a pioneer in laying down systems for smooth and orderly conduct of the business. The strength of the company lies in its highly trained and motivated work force that covers various disciplines and has vast expertise.

Oriental specializes in devising special covers for large projects like power plants, petrochemical, steel and chemical plants. The company has developed various types of insurance covers to cater to the needs of both the urban and rural population of India. The Company has a highly technically qualified and competent team of professionals to render the best customer service. Oriental Insurance made a modest beginning with a first year premium of Rs.99,946 in 1950.

The goal of the Company was “Service to clients” and achievement thereof was helped by the strong traditions built up overtime. ORIENTAL with its head Office at New Delhi has 30 Regional Offices and nearly 900+ operating Offices in various cities of the country. The Company has overseas operations in Nepal, Kuwait and Dubai. The Company has a total strength of around 15,000+ employees. From less than a lakh at inception, the Gross Premium went up to Rs.58 crores in 1973 and during 2010-11 the figure stood at a mammoth Rs. 5569.88 crores.

Read More

Grange Insurance

Grange Insurance

For generations, Grange Insurance and the Independent Agents who represent our company have been empowering people to live their lives with fewer worries by offering valuable insurance products and superior, hassle-free services that meet our customers’ changing needs. 

Today we are a financially strong insurance provider with $1.3 billion in annual revenues and $2 billion assets. Located in Columbus, Ohio and rated “A” (Excellent) by A.M. Best, we partner with independent agents who offer auto, home, life and business insurance protection to policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin. 

Grange Insurance (The Grange Mutual Casualty Group) includes: Grange Mutual Casualty Co., Grange Property & Casualty Insurance Co., Trustgard Insurance Co., Grange Indemnity Insurance Co., Grange Insurance Co. of Michigan, Grange Life Insurance Co., Integrity Mutual Insurance Co., and Integrity Property & Casualty Co.

Read More

Carphone Warehouse Insurance

Carphone Warehouse Insurance

The company was co-founded in 1989, when most portable phones were too bulky to carry and called car phones, by current Chairman Sir Charles Dunstone and Julian Brownlie. Brownlie and Dunstone put £6,000 into the company from their savings. In 1990 Dunstone then called his old school friend and Chartered Accountant David Ross,[2] who agreed to become Finance Director.

Based originally in Dunstone’s rented flat on the Marylebone Road, London, four years later the company had grown to 20 stores. Now also trading as The Phone House,[3] Carphone Warehouse is Europe’s largest independent mobile phone retailer.

While Dunstone became the public face of the Carphone Warehouse Insurance, David Ross (described by Dunstone as his “secret weapon”), developed and drove the high street retail footprint of the company by buying Tandy in the UK.

Dunstone approached old customer Guy Johnson of NEC UK – later described by one City analyst as “the Ringo Starr of Carphone Warehouse” for being in the right place at the right time – to become the third partner, later taking up the role of Logistics and Distribution director.
David Ross led the footprint development of the company, under The Phone House brand, across Europe and the United States.

When David Ross led the IPO of Carphone Warehouse Insurance in 2000, it had been so successful that the partners had not needed to borrow or involve outsiders: Charles Dunstone owned half, David Ross a third, and Johnson most of the rest.

Only Johnson of the three partners had a family, and having according to media reports becoming less enamoured by the David Ross-led European expansion of the organisation, sold the majority of his stake in 2001 and retired with his young family to his holiday home in Portugal.
While David Ross had been joint-Chief Operating Officer with Charles Dunstone from 1990 and 2003, whereas Dunstone stayed with the business that he still runs today, Ross started to give up his executive position from 2003.

Ross became deputy chairman in July 2005, and by 2008 was a non-executive director. David Ross resigned from the board in December 2008 over an issue with shares.
The group split in March 2010, with TalkTalk and New Carphone Warehouse becoming publicly listed companies. Charles Dunstone became Chairman of both companies.

New Carphone Warehouse holds a 50% stake in Best Buy Europe and a 47.5% share in Virgin Mobile France. Dido Harding became CEO of TalkTalk and Roger Taylor CEO of New Carphone Warehouse.

Read More