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If youve booked a vacation for your family lately, or sent your kid off on a school-sponsored field trip, youve probably considered trip-cancellation insurance. These offers generally promise to reimburse you for the vacation or field trip if you need to cancel. Are these plans worth the cost? It depends on your own personal risk calculation.

Trip cancellation insurance comes in several flavors. Basic coverage reimburses you if you cant make your trip because of certain reasons, such as if you get sick, a hurricane rakes the island you were going to visit, or terrorists attack your hotel. The insurance covers non-refundable expenses, so if the tour operator cancels your tour and they refund your fee, for example, the insurance does not pay.

The basic coverage also generally provides benefits if your trip is delayed or interrupted. It also pays for lost or delayed baggage, some medical benefits if youre injured during your vacation, and emergency evacuation if something horrible happens during your vacay.

You can add to the basics.

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Tags: Insurance

Strategic default – in which a homeowner simply walks away from a mortgage – is on the rise.

In a Chicago area survey last year, 30 percent of homeowners who defaulted on their home loan were able to afford payments but chose to walk away.

Usually borrowers choose to walk because they owe more on their house than the house itself is worth. With real estate prices in Chicago continuing to fall, homeowners are realizing they won’t recover value anytime soon and some are getting out now in order to save money.

But defaulting on a mortgage is not without consequences. Walking away damages credit, decreases your chances of qualifying for future loans, and comes with the risk of being pursued in court by lenders. Maybe most significantly, though, defaulting on your mortgage does nothing to lower your debts.

By filing for a Chicago bankruptcy, homeowners can keep a roof over their heads while freeing up more money for the mortgage each month.

Part of the problem is the mortgage system, according to a recent MSNBC.com article.

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Tags: Mortgage

The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.

The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the county to file for bankruptcy. This option is looking like more and more of a possibility if a settlement is not reached with creditors.

Creditors have yet to respond to a settlement that was submitted last week that will increase sewer costs in order to erase $1.3 billion of a $3.14 billion sewer debt that has been around since 2008. A discussion with creditors was hoped to be reached by this week, but it has not occurred at this time.

If you or a loved one has been considering bankruptcy, you need experienced representation on your side. Contact the bankruptcy lawyers in Birmingham of Greenway Law, LLC, by calling 205-324-4000 today.

Tags: Bankruptcy, Jefferson County

A hospital is an important place that takes care of the sick. It caters people who are in need of proper attention and medical treatment. Since it houses those who are bedridden, paralyzed, and injured as well, it is just very essential for nurses to know how to take care of them properly. Because if not, they will develop some severe conditions that are pretty much difficult to deal with. One of these things that may happen to them is the development of bed sores in hospital. Since these mentioned people are constantly lying or sitting down, the pressure and friction in wheelchairs and mattresses can shed up the skin. Since it does not only affect the epidermis, it can also develop down to the bone. When bed sores occur, it just means that the nurses and the whole management of the hospital do not give the needed requirements of the patient such as constant turning to relieve pressure.

Tags: Bed, Bed Sores

As efforts continue to impose sanctions on Iran ([1], [2]), I thought it would be helpful to discuss the possible implications of these developments for oil-consuming countries.

The most likely outcome of an embargo on oil purchased from Iran is that the countries participating in the embargo buy less oil from Iran while other countries not participating in the embargo by more oil from Iran ([1], [2]). While this would produce some dislocations, if total world oil production doesn’t change, it would have little effect on either Iran or oil-consuming countries, and would basically be a symbolic gesture.

If instead the embargo is successful in reducing the total amount of oil sold by Iran, then the shortfall for global consumers would have to be met by some combination of increased production elsewhere and oil price increases sufficient to bring down global petroleum demand.

As for the first possibility, there appears to be only a limited amount of excess oil-producing capacity at the moment, and certainly far short of the 4.3 million barrels per day that Iran produced in the first three quarters of 2011.

And for the second possibility, it is useful to draw a comparison with previous episodes in which geopolitical events led to production shortfalls from key producing areas.

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Tags: Oil, Oil Embargo