Australia failing to protect Great Barrier - myassignmenthelp.com

Question: Discuss about the Australia failing to protect Great Barrier. Answer: Introduction: The term international relations can be determined as a division of political science that can be adopted for developing connections between two economies and also with international policies. The concept is further observed demonstrating the study of foreign affairs and international conflicts among the regions that include the roles and obligations of the economies intergovernmental, NGO, and multinational corporations. Global bonds can be both moot and public policy field and can be both optimistic and normative as it analyze and frame the foreign policies of the particular economy. Further, the concept is also concerned about the in explaining the connections of the states in the global regional system, and this approach also attempts to describe the interactions of others whose behavior originates within one economy and is targeted towards member of other countries. In simpler terms the study of international relations is totally focused and is based on explaining the behavior a cross the borders of different economies. The below presented essay has been analyzed for describing Australias climate change efforts. The essay has been focused on the climate change and global relations. As per the given scenario Australia has been proven unsuccessful to oblige an adequate role in the global response to climate change. Climate change and international relations: On the basis of the report presented by International institution of Governance program (2013), it has been observed that the climate change is one of the most empirical issues in the list of threats faced by the world. According to the research executed by American Metrological society it has been stated that there is a high range of probability of rising in global temperature from 3.5 to 7.4 degrees Celsius (6.3 to 13.3 degrees Fahrenheit) in less than one hundred years. These minor shifting in the environmental conditions can become reasons for widespread disasters such as rise in sea levels, violent and volatile weather patterns, famines, droughts, desertification etc. In November 2011, a warning was given by the International Energy Agency that the world may be fast moving towards a sloping point of change in climate and also it was suggested that the coming future will be prove vital for reduction in the efforts for greenhouse. According to The United Nations Framework Convention on climate change (UNFCCC) it has been defined as a change of climate that is accredited unswervingly or indirectly to human practices and due to making modifications in the international atmosphere. Activities that lead to contamination are arising from the engineering practices and other sources that are held responsible for the emission of greenhouse gases. These gases include carbon dioxide and other harmful gases and also have the ability of absorbing the spectrum of the infrared light and contribute in the warming of the environment. These gases once produced remains imprisoned in the atmosphere for decades. There are number of reasons for the changes in the climate that are adversely affecting the climate or the surrounding. The prime reason behind the climate change is the emission of the dangerous gases and pollutants such as carbon dioxide, methane, nitrous oxide and fluorinated gases. It has been observed that the greenh ouse is the cycle due to which the mentioned pollutants and gasses gets imprisoned in the atmosphere and heat the planet. It has been observed that in the year 1827 Joseph Fourier a French mathematician and physicist projected that the worming process of earth is acted in the same way as a greenhouse traps heat. A procedure of noticeable lights and imperceptible radiations, in which the earths atmosphere is acting as a glass barrier, and the observable radioactivity from the sun that badges through the Earths environment will be engrossed by the land, water and vegetation but there are some pollutants and infrared radiations gets imprisoned in the atmosphere and remains in the environment. And it has also been noted that the oxygen and nitrogen and also the other natural key elements are unable to absorb infrared radiation. The mentioned gases feed-off the heat energy and a second source of radiation is emitted for warming the surface of the earth. This heat energy remains imprisone d in the environment and deteriorates the depending on the level of gases that are able of absorbing it. An increase in the level of greenhouse gases will make a growth in the absorbing power and that will make more absorption of more infrared radiation On the basis of the research it has been inferred that Australia has made commitments for taking strong domestic and international actions for the changes in the climate. It has been observed that the Australian governing authorities has been making implementation of national policies for reducing emission of pollutants and cope up with the effects of the climate change in relation to the co-ordinated international practices. Under the United Nations Framework Convention on Climate Change (UNFCCC) at the 21st Conference of the Parties (COP21) in Paris (30 November to 12 December 2015) am historical global climate agreement was made (dfat.gov 2018). A durable and dynamic framework has been set by the Paris agreement for all the nations for taking climate action from 2020, development of existing global efforts in the duration of 2020. The prime outcomes of this agreement include: A global goal has been developed for holding the average temperature hike to well below 2C and efforts are pursued for keeping the warming level below 1.5C above per-industrial level. Mitigation targets are set by each and every nation from 2020 and targets are also required to be reviewed from a time interval of 5 years. Vigorous transparency and accountability norms for providing confidence in the nations practices conducted and also tracking the progress towards the desired targets. Promotion of the practices to be adopted and also building elasticity to climate change. Further, in the Paris conference, nations were send invitations for submitting indicative posts-2020 targets and that were termed as intended nationally determined contributions (INDCS). It has been observed that targets have been set by all the member nations to the UNFCCC. That comprise of all the G20 member nations. These set goals included 96% of international emission, over 39 percent of international GDP and this also included 99.8 % of the Australias two way trade. Mainly, these goals comprise significantly more that the Cancun agreements (2010) and under this agreement more than 100 countries took participation and made pledges for minimizing and setting limits to the greenhouse gases emission by the duration 2020 (dfat.gov 2018). Making reduction in the emission by 26-29 percent below 2005 levels by 2020 has been considered as one of the ambitious targets of Australia. This builds on the target of 2020 target minimizing or eliminating emissions approximately by 5% below levels of 2020. The attainments of the goals of Australia will be done by credible policy suite that has been made already engaged in the process of eliminating the emission, encouraging the technological development, etc. Australias response for climate change: In Australia, scientific evidence related to global warming is clearly available, and for preventing the general and dangerous impacts of climate change strong and strict actions are required by policy makers and industries. Response of departments related to the mitigation clearly state the need to reduce the rate of warming in the global climate system. On the other hand, adaptation response are necessary for the purpose of reducing the impact of current and future climate related issues and for managing the risk related to changes occurred in future climate (Durrant, n.d.). In 2016, Paris Agreement was enforced and the main purpose of this agreement is to strengthen the global response in context of risk related to climate change. For meeting its initial target in regards of Paris agreement, Australia committed to reduce its greenhouse gas emissions by 26 to 28% in comparison of 2005 by 2030. Experts believe that mitigation and adaptation efforts conducted by Australia will be strongly enhanced by the adoption and development of science and technology innovations and these innovations must be supported by government policies. With strong leadership from government and active participation from industries, Australia is meeting the challenges and become the leader in grabbing the opportunities in context of climate change (ATSE, n.d.). However, there is one more side of coin which reflects that Australia is failed to address the issues related to climate change. Experts from military and climate department warned the government that there is possibility that Australia faces various disaster consequences because of the changes occurred in climate which ultimately results in other natural disasters and forced migration of 10 million peoples across the region. Chris Barrie, Former defense force chief Adm stated that ability of Australia to reduce and respond to the impacts of climate change is affected by the political shyness. Climate change regulations of Australia have suffered from serious lack of political leadership. Approval to Adanis new coal mine is the perfect example for that. When world is coming together for the purpose of reducing the carbon emissions to prevent global warning, at that moment governments of Australia are chasing new proposals of coal mine of Adani. Government gives approval to the proposal of Adani which would result in the open up of complete Galilee Basin for poison generated by new mines (Stop Adani, n.d.). This mine is not only the biggest coal mine in Australia, but it is equal to almost five times the area of Sydney Harbour. This is the time when there is need to take efforts for reducing carbon pollution, but this mine complete takes the efforts of Australia in the new direction (The Guardian, 2017). It must be noted that, Great Barrier Reef already experience the shocking coral bleaching from rise in sea temperatures because of the global warming. In case current trends of the climate will continue, then it is estimated that Great Barrier Reef will experience serious coral bleaching in every 2nd year. Changes occur in climate also upturn because of the land clearing for building the mine. Almost, 20,200 hectares of land which is equal to 28,000 soccer fields or 200,000 quarter-acre blocks is cleared for Adani mills. Over half of the land which is clear for this mine is mature woodland and bush land which is considered as important territory for number of animals and it also includes some threatened species such as koalas and echidnas and endangered birds (Coates, et. al, 2014). Heat waves generated from mines which cause serious health issues which result in more deaths in Australia in comparison of deaths occurred from natural disasters since 1890. Longer, hotter, and more intense heat waves in Australia are being determined by changes occurred in climate. Research stated that number of deaths in summer are increasing as compared to deaths occurred in winters which clearly states that changes occurred in climate affects the mortality rate. New mine project of Adani make this situation worse. Australia and other countries of the world already bear the consequences of polluting air and water, and we area also facing the dangers which cause because of the changes occurred in climate. We must conduct actions which ensure changes from polluting coal, oil, and gas to 100% renewable energy to stop greenhouse gas emissions which already reach to more dangerous levels. The first step in this context is the prevention of Australias biggest coal mine proposal, before it gets started. Greenhouse gas emission is not the only issue, coal mine also robs billions of liters of water and this water will be taken from the ground water systems and Queenslands inland rivers. This mine use up to 9500 million liters of groundwater which is draining into a vast coal pits and underground mines each year. Governments also take actions to make sure that Adani gets the groundwater for free, and for this purpose government also deprive farmers from their rights to file appeal against Adani for taking their groundwater (agarwal, 2017; Env law, 2015). This step of government results in permanent changes in the groundwater system and water table will also drop. In other words, Adani not only rob the local farmers but it also drain water from the rare and ancient Doongmabulla and Mellaluka springs which provide support to the native animals and plants. Coal mine of Adani also get permission to draw water from aquifers and for this purpose Adani dig deep. This water will be sprayed on the mine for getting billowing clouds of coal dust which will be generated by this project, and it will also be used for washing the coal which prepared for export. Mines of Adani create big risk for the water resources of Queensland (Department of Environment and Heritage Protection, n.d.). Shortage of fresh water results in famine, and starving people becomes the serious problem for Australia. Historical evidence suggests that under these situations there are chances of mass migration (The Guardian, 2017). After considering the above facts, it can be said that political system of Australia in context of climate change is corrupt, and it fails to fulfill its obligations. Australia also fails to reduce its greenhouse gas emissions which are combined with its investment in new coal mining projects, and these new investments threatening the long term future of the Great Barrier Reef. In 2016, almost 22% of the corals died in the reefs and these deaths occurred in the areas of northern part of the reef. Climate change is considered as biggest reason for the declining health of reef, which is increasing the ocean temperatures and acidification. World Heritage Organization pushes the nations, especially Australia to take actions to protect their coral reefs. World Heritage Convention wants that Australia take all necessary actions and use appropriate resources for the purpose of protecting its coral reefs. Clear evidences are present which reflect that climate changes endangered the coral reefs, but still Australia make new investments in the coal mines projects. Instead of fulfilling its obligation for protecting the Great Barrier Reef from the future events of coral bleaching, Australia is failing to take actions which are fair and help the government in reducing the greenhouse gas emissions. Therefore, it can be said that Australia fails to meet its obligations under the Paris Agreement (Davy, 2017). Tourism policy of Australia fails to support climate change: International journal of sustainable tourism reflects that only 21% of the tourism policies of Australia contain provisions related to the climate change, and these provisions only acknowledge the climate change as an issue. Instead of the fact that tourism is very important for the economy of Australia and its worth billions of dollars, and has been found by scientists that it also contributes in the climate change, only five tourism strategies of Australia recognize the impact of this sector on changes occurred in climate. After considering the documents related to the policy, it is found that tourism strategy of Australia mainly focuses on the adaptation strategies accompanied with mitigation. Documents further stated that certification and accreditation are also considered as adaptation measures by the tourism industry. State government of Australia is less proactive in considering the impact of tourism on climate change, and this can be understood through example, NSW fails to mention anything about the climate change in their tourism state level strategies. Experts stated that tourism sector has significant potential to improve and take action for preventing climate changes. In other words, tourism sector can develop mitigation and adaptation strategies. There are number of opportunities available to the tourism industry for the purpose of contributing in the sustainable management of climate change such as they can develop more green products and they can implement more environment friendly practices (QUT, 2017). Review of Climate change policies of Australia: In 2017, government of Australia reviewed its climate change policy for the purpose of ensuring that they are effective in achieving the target set for 2030 and obligation stated under Paris Agreement. This review was conducted by the Department of the Environment and Energy. As per this review report, government of Australia committed to addressing the climate change issues and at similar time they are taking steps to maintain the energy security and affordability and the competitiveness of our industries. The government recognizes that while reducing the emissions and for meeting the international obligations there is need to balance the economic impacts (DEE, 2017). However, reality is different from this review, as Lawyers while addressing the serious concern of UNESCO in context of coral bleaching and mortality rate related to the Great Barrier Reef caused by the changes occurred in climate stated, that Australia is not fulfilling its international obligation to protect the coral reef from the impacts of climate changes. Documents released by UNESCO show serious concern about the coral bleaching and mortality on the Great Barrier Reef caused by the Climate change (Environmental Justice Australia, 2017). As stated by the international and Australian lawyers To the UNESCOs World Heritage Committee must ask the Australia to do its fair share for the purpose of protecting the reef in the future. Recommendations: In light of the above stated facts, it is recommended to the authorities at international level to take following actions: International authorities must express their concern on serious note in context of coral bleaching and increasing mortality rate. Authorities must make call on Australia for not supporting and approving the new development projects that will directly or indirectly cause harm to the environment. Authorities must make request to the Australian government to monitors its current strategies and make necessary changes in it (SMH, 2017). Australia must review its progress in context of climate change on continuous basis and with honesty. Conclusion: This report mainly focuses on the climate change and international relations in Australia. As stated by the United Nations Framework Convention on climate change (UNFCCC), change of climate is directly or indirectly related to human practices and because of altering the international atmosphere. Australia fail to address the issues related to climate change in different areas such as greenhouse gas emissions. Experts from defense and climate department warned the Australian government that country face various disaster consequences because of the changes occurred in the climate. After considering the above facts, it can be said that political system of Australia in context of climate change is completely corrupt and this system fails to fulfill its obligations. Australia also fails to reduce its greenhouse gas emissions and instead of taking efforts Australia is investing in new coal mining projects, and these new investments threatening the long term future of the Great Barrier Reef. As stated above, Australia accept the obligations under Paris agreement but it fails to meet these obligations, and this fact is provided by different evidences such as approval of Australia government to the proposal of Adani new coal mine. In other words, instead of fulfilling its obligation for protecting the Great Barrier Reef from the future events of coral bleaching Australia is welcoming the proposals of new coal mines. References Agarwal, K, (2017). Adanis Australia Story: Whats the Fuss All About?, Retrieved on 21st February 2018 from: https://thewire.in/188092/adanis-australia-story-whats-the-fuss-all-about/. ATSE, Australias Response to Climate Change. Retrieved on 21st February 2018 from: https://www.atse.org.au/content/publications/policy/australias-response-to-climate-change.aspx. Coates L, et. al. (2014). Exploring 167 years of vulnerability: an examination of extreme heat events in Australia 18442010. Environmental Science Policy. 42:33-44. Davy, C, (2017). Australia failing to protect Great Barrier Reef, Retrieved on 21st February 2018 from: https://www.chinadialogue.net/blog/9666-Australia-failing-to-protect-Great-Barrier-Reef-/en. DEE, (2017). Review of Climate Change Policies. Retrieved on 21st February 2018 from: https://www.environment.gov.au/system/files/resources/18690271-59ac-43c8-aee1-92d930141f54/files/2017-review-of-climate-change-policies.pdf. DEE, Australia's 2030 Emission Reduction Target. Assessed on 21st February 2018, https://www.environment.gov.au/climate-change/government/australias-emissions-reduction-target. Department of Environment and Heritage Protection, Doongmabaulla Springs DIWA nationally important wetland, Retrieved on 21st February 2018 from: https://wetlandinfo.ehp.qld.gov.au/wetlands/facts-maps/diwa-wetland-doongmabulla-springs/. Dfat.gov, (2018). Climate change, Retrieved on 21st February 2018 from: https://dfat.gov.au/international-relations/themes/climate-change/pages/climate-change.aspx. Durrant, N. The Australian Response to Climate Change: business as usual or legal innovation?. Retrieved on 21st February 2018 from: https://eprints.qut.edu.au/39199/1/39199.pdf. Env Law, (2015). Expert Report on groundwater impacts to the Land Court by Dr John Webb as part of proceedings in Land Services of Coast and Country Inc Ors. v Adani Mining Pty Ltd (2015). Retrieved on 21st February 2018 from: https://envlaw.com.au/wp- content/uploads/carmichael9.pdf. Environmental justice Australia, (2017). The world is watching: UNESCO monitoring Australias failure to protect Great Barrier Reef from climate change, Retrieved on 21st February 2018 from: https://envirojustice.org.au/media/the-world-is-watching-unesco. International institution and global governance program, (2013). The global climate change regime, Retrieved on 21st February 2018 from: https://www.cfr.org/report/global-climate-change-regime. QUT, (2017). News - Australian tourism policies fail to address climate change, Retrieved on 21st February 2018 from: https://www.qut.edu.au/news?news-id=124456. SMH, (2017). World Heritage And Climate Change: The Legal Responsibility of States to Reduce Their Contributions to Climate Change, Retrieved on 21st February 2018 from: https://www.smh.com.au/cqstatic/guuvte/reefwhc.pdf. Stop Adani (2017). Why #StopAdani, Retrieved on 21st February 2018 from: https://www.stopadani.com/why_stop_adani#wrecks_our_climate. The Guardian, (2017). Australia faces potentially disastrous consequences of climate change, inquiry told, Retrieved on 21st February 2018 from: https://www.theguardian.com/environment/2017/aug/11/australia-potentially-disastrous-consequences-of-climate-change-inquiry-told. The Guardian, (2017). Is this the end of the road for Adanis Australian megamine?, Retrieved on 21st February 2018 from: https://www.theguardian.com/environment/2017/dec/07/is-this-the-end-of-the-road-for-adanis-australian-megamine.

Public Policy and Hurricane Katrina

Public policy refers to the guided approaches used by governments or government agencies to cover a specified class of issues that need the attention of the government (Stewart, Hedge Lester, 2007). Advertising We will write a custom assessment sample on Public Policy and Hurricane Katrina specifically for you for only $16.05 $11/page Learn More Although public policy is meant to cater for a myriad of government initiatives, it sometimes become evident when a nation is faced with an emergency and it needs an elaborate plan to cater for such emergencies. When the US government was faced by the disastrous hurricane Katrina, it responded with elaborate policies to ensure that the disaster and its effects were contained. Hurricane Katrina is one of the most memorable natural disasters in the history of the United States due to its magnitude of destruction (Stewart, Hedge Lester, 2007). It led to loss of properties, loss of lives and deformation of the nat ural land, which is of great importance to human beings as well as for the economy of the United Sates of America at large. Its effects were extremely exhibited in such places like Mississippi, Louisiana City of New Orleans, and Alabama. Two days before the disaster, the president had declared a state of emergency in several regions such as Mississippi, Louisiana and Alabama (Stewart, Hedge Lester, 2007) The government responded to the hurricane by use of several agencies. Among the agencies that were used by the government was Federal Emergency Management Agency (FEMA). Stewart, Hedge and Lester (2007) also note that other stakeholders that took part in this response were private individuals, NGOs and local-level agencies. This illustrated the concern and empathy that people showed towards the affected ones. People living in Louisiana and coastal Mississippi as well as in Alabama were quickly issued with evacuation orders either voluntarily or by use of force. Among those issued with evacuation orders were about one million, two hundred thousand residents in the Gulf Coast (Stewart, Hedge Lester, 2007).Advertising Looking for assessment on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More US Army Corps of Engineers (USACE) was sued due to the failures of the hurricane protection measures especially due to the role of the identified agency in designing the levee system (Stewart, Hedge Lester, 2007). Army Corps engineers were found solely responsible, but their sovereign immunity protected them from being held accountable. The response that was received during the crisis from the federal state as well as local government was also investigated. This forced the Federal Emergency Management Agency (FEMA) director to resign (Stewart, Hedge Lester, 2007). The resignation of the director contributed to the slowness in the operation offered by the Federal Emergency Management Agency, and of New Orleans Police D epartment (NOPD). However, there were areas where the response was highly commended such as the United States Coast Guard (USCG) and the National Hurricane Center (Stewart, Hedge Lester, 2007). The government on its side failed in timely delivery of goods as well as early rescue of victims of the hurricane Katrina. Generally, the government of the United States of America should be solely committed to natural disasters that may occur in the country through timely response to the situation and provision of the necessities to the affected individuals. The public on the other hand should also play a role in giving support to the affected persons through their generous contributions. Non Governmental Organizations should offer their support to victims of such disasters fully. These include assisting homeless individuals through tent construction and also creating awareness on the effects of natural disasters. This would ensure full protection of the public as well as solidarity and un ity in the country. Reference Stewart, J., Hedge, D. M. Lester, J.P. (2007). Public Policy: An Evolutionary Approach.New York: Cengage. This assessment on Public Policy and Hurricane Katrina was written and submitted by user Delilah Benson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

RAppeal Essay Sample: Creating an Essay That Attracts Your Audience

RAppeal Essay Sample: Creating an Essay That Attracts Your AudienceThe appeal is a short paragraph written to give a summary of the argument in a persuasive writing essay. Although there are various styles and forms for the appeal, it is not a style of writing in and of itself but rather an illustration of how one uses many other styles to shape a persuasive argument.By reviewing the sample paper provided in this book, you will be able to recognize how the author has chosen to present their essay sample. Each paragraph begins with a similar subject matter, such as 'the common man.' This will help you relate to the essay sample as being from a specific person who is interested in economics or research on alternative energies.The goal of using the appeal for an analysis essay sample is to make your readers think about the logic they may have when making a decision. For example, in this essay, you will see how the tone of the entire essay provides an appealing look to the reader. Becaus e each paragraph is presented in a slightly different tone, it adds a unique feel to the reader that will allow them to consider whether or not the argument presented in each paragraph is possible. In addition, each paragraph may also end with a twist or turn that will provide the readers with a unique feeling for each argument.If you are interested in learning more about the style of writing that is used in this writing, it is important to read the essay sample because you will get a better understanding of what the style of writing entails. By the end of the essay, the style of writing will become apparent. There are many people who are interested in writing persuasive essays that will appeal to their audience.If you are considering using the RAppeal for an analysis essay sample, it is a good idea to learn more about the style because there are some differences between using the RAppeal style of writing and traditional forms of writing. Because it is a style of writing, you will f ind that there are rules that you can use to ensure that you do not produce an essay that makes your readers feel that they are reading something that was designed to appeal to others. By incorporating these ideas into your own writing, you will be able to produce a piece of writing that is appealing to your audience.When you begin to understand the rules of RAppeals, you will be able to determine if the way you write the arguments of the appeal is the right way to go. There are many rules that you should know when you are writing a persuasive essay. By adopting a basic set of rules, you will be able to avoid over-using certain words and phrases that may not be appropriate in a certain style.The RAppeal essay sample was created so that students who are interested in writing persuasive essays would understand the rules that are used when you write an essay for use in a college writing assignment. With the appeal, it is easy to determine whether or not the style is appropriate. Once y ou have decided that the style is right for you, it is important to follow the rules of grammar to ensure that your essay is accurate and polished.The final goal of the RAppeal essay sample is to reach the goal of creating a persuasive essay. By understanding the rules of grammar, you will be able to see how the style of writing will affect the overall appeal of the essay. This means that you need to know how to construct the points effectively and also need to know how to apply a professional style that will make your essay appealing to your audience.

Alternative Investment Fund for Senior Life Insurance Settlements †Business (600 Level Course)

Alternative Investment Fund for Senior Life Insurance Settlements – Business (600 Level Course) Free Online Research Papers Alternative Investment Fund for Senior Life Insurance Settlements Business (600 Level Course) EXECUTIVE SUMMARY Alternative Investments Fund, LLC (â€Å"The Company†) is seeking to secure funding for the purpose of purchasing life insurance policies. The purpose of this document is to provide potentially interested parties with sufficient information to submit non-binding indications of interest to provide such funding commitments, but does not purport to be all-inclusive or contain all of the information that an interested party may require. Interested parties should conduct their own independent analysis. The information contained herein has been provided by the Company, their respective officers, employees, agents or representatives, or derived from publicly available sources. The Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of this document or the information contained herein – and no legal liability is assumed or implied. Any estimates and opinions have been prepared by the Company’s management and involve subjective judgment and analysis. This document shall not constitute or be construed as an offer to sell or a solicitation of an offer to buy any securities of the Company. The Business The Company was founded to originate and finance the purchase of life insurance settlements in the secondary market. A life insurance settlement involves the transfer of ownership and the change of beneficiary of a life insurance policy in exchange for a lump sum cash payment from the purchaser. Life insurance settlements provide individuals who no longer want or need an existing life insurance policy with the opportunity to sell the policy and receive a cash settlement greater than the policy’s cash surrender value (amount insurance company will pay to cash out the policy). In the case of settlements involving term insurance policies, policy owners receive funds that they never expected to receive during their lifetimes. The policy owner may be planning to surrender the policy for any number of reasons including (i) corporate-owned key-man policies may no longer be needed due to the key-man leaving the business or the business being sold, (ii) insurance policies purchased for estate planning objectives are no longer relevant, (iii) the need for life insurance protection no longer exists du e to beneficiaries being taken care of by other investments or are financially independent or simply that there are no living heirs, (iv) continuing premium payments is no longer desirable, (v) cash from the settlement can be used to purchase new, more appropriate coverage (i.e., Second to Die or Long Term Care), and (vi) personal financial reasons. Senior Life Insurance Settlements are distinguishable from Viatical Settlements that were primarily focused on AIDS victims. Many viewed the viatical business negatively because of the perception that unscrupulous parties were preying on very vulnerable individuals. On the other hand, the Senior Life Insurance Settlement market has been viewed very positively. Typically, the policy size with a Senior Settlement is large and the seller of the policy is affluent and represented by a professional financial advisor. For these reasons, it is generally viewed as business that provides a valuable service – the opportunity to access values previously believed to be inaccessible. For the investor, the value proposition is driven by a few factors. First, the seller of the policy wants liquidity from the policy during his or her lifetime. Another motivation to sell is to eliminate the premiums that must be paid to keep the policy in force. In the process of evaluating the purchase of a life insurance policy, the life expectancy of the seller is a key determinant of the return to the investor. For this reason, every seller must have an evaluation of his or her health. Based on the evaluation (medical underwriting), a life expectancy (ex) is established, which determines the price at which the policy is purchased. In cases where the insured survives longer than the projected life span, the rate of return to an investor decreases. On average, these Senior Settlements are priced to produce a yield in excess of 15% per annum. The quality of the medical underwriting is the critical factor in developing appropriate pricing. Even with perfect underwriting, it is critical for an investor to have a sufficient distribution of lives in the investment pool. The pool should also possess a distribution of medical issues, in order to avoid concentration risk. For investors, life insurance settlements are unique. The returns have no correlation to the stock market or interest rates. Returns are purely a function of the factors discussed above. The Market Life insurance settlements began in the United States only in the last decade. They are now emerging as an asset class based on shear volume potential. The total potential size of the life insurance settlement market is estimated to include approximately $108 billion1 of life insurance in force. Most life insurance settlements have life expectancies ranging from 5 to 13 years, although some may be as short as one year. Demand for the Life Insurance Senior Settlements is already strong and can only grow as knowledge of this financial alternative becomes more mainstream. Currently, there are 23 million1 people in the United States age 65 or older who have life insurance policies in force. Nearly 8% of these policies lapse or are surrendered each year. LIMRA estimates that 97% of all term life insurance products sold in the United States will be lapsed before any death benefits are realized. As more individuals begin to learn that their policies have a value in the secondary marketplace that exceeds the cash surrender value (essentially that there is a better alternative to lapsing or surrendering the policy) – demand is certain to grow. Because the Life Insurance Senior Settlements are still relatively new and unknown (industry estimates suggest approximately 90% of financial planners and an even larger percentage of consumers are not yet aware of the availability of life insurance settlements), it is fair to assume that this market is poised to experience phenomenal growth over the next several years. Recently, the option to sell an unwanted life insurance policy, for a broad variety of financial planning reasons in addition to financial need, has dramatically increased the number of people considering this option. As a result, capital resources available to acquire those policies have been overwhelmed, creating a large backlog of policies in the market. Marketing The potential for a Senior Settlement occurs when the health of an insured has deteriorated to the point that the expected value of the future death benefit, which can be realized under a life insurance policy, significantly exceeds the expected value of the future anticipated premium payments. Historically, most policyholders did not realize that their life insurance policies represented â€Å"hidden assets† which could be used to better achieve their living goals. Transactions generally occur, when the life insurance policy owner works with an insurance agent, financial planner, or other financial advisor (â€Å"settlement broker†) who makes the owner aware that there are options available other than lapsing or surrendering an unneeded life insurance policy. These settlement brokers find the buyers for the life insurance policy and secure the settlement. It is estimated that of the 192,000 life insurance agents and approximately 34,000 certified financial planners in the United States today, only ten percent have working knowledge of Senior Settlements. Therefore, as the population ages and knowledge of Senior Settlements spreads, the potential exists for substantial future growth. Senior Settlements are a new and rapidly growing asset class. While Investment Bankers have viewed Senior Settlements as ideal for candidates for securitizations, the recent genesis of this asset class, taken together with the esoteric nature of the risks associated with projected cash flows and the inherit complexities of any securitization, have made the securitization of Senior Settlements mostly a theoretical exercise. As a result, capital allocations to this market have tended to be lumpy at best. The Company intends to source Senior Life Insurance Settlements in the secondary market from Life Insurance Settlements Companies, which have existing relationships with managing general agents and life insurance agents/brokers active in this market. Management Although the Company will use third parties to perform many functions associated with the evaluation and purchase of the life insurance policies, it will provide oversight of many functions including the following: Insurance Policy Underwriting Medical Underwriting Purchasing Policies Tracking/Servicing Purchased Policies The management team of the Company has substantial expertise in life insurance, actuarial pricing, accounting, taxation, capital markets, and life insurance settlements. Investment Returns A sample of 500 Insured lives was used to determine the expected rates of return for investors, and the volatility of the returns. The Insured lives modeled ranged in ages from 65 to 89, with an average age of 75. The net face amount of policies to be purchased was $453.1 million, and the assumed purchase price was $115.9 million. Under the â€Å"base case† or â€Å"assumed case†, the return to investors was determined to be 19.0%. This anticipated rate of return is consistent with current pricing in the Senior Settlement market. In the assumed case scenario, an investor would recover 100% of the amount invested in 7.46 years. The average ex for the group of Insureds, at the time of the assumed purchase, was 8.428 years. The most significant issue with Senior Settlements is not the return of principal, but instead the duration over which returns will be earned. Therefore, the expected rates of return were calculated using variations in the assumed mortality of the pool of insured lives. Projected cash flows were calculated assuming future premium payments, death benefits and expenses, using mortality rates that vary from the assumed case. Assuming that the actual mortality in all years is 10% less than the expected, the rate of return would decrease to 17.66%, compared to 19.0% in the assumed case. Conversely, if mortality is 10% higher than the assumed case, the rate of return will increase to 20.28%. Extreme cases were also tested. Assuming actual mortality is 33% lower than pricing results in the rate of return decreasing to 14.37%, while the break point is 21.01 years. Assuming mortality is 33% higher than anticipated results in a return of 23.11% and a breakeven period of 5.72 years. The rates of return under these assumptions are reflected in the table below: The extreme mortality variation used a 33% lower mortality rate than assumed and represents two standard deviations in a sample comprised of 500 lives. The probability of the actual mortality rate being less than 33% is therefore approximately 2.5%. Conversely, the probability that mortality would ever exceed 33% above the expected would also equal 2.5%. Industry Regulation As with any insurance transaction, some state Departments of Insurance regulate life insurance settlements. The National Association of Insurance Commissioners (NAIC) adopted model regulation in 1993 when the industry focus was limited to individuals with catastrophic or life threatening illnesses. The Model developed contract, license requirements, and other consumer protections to protect these specific policy sellers. This Model was adopted by only about half the states. As the business has evolved and expanded well beyond the scope of the early regulations, the NAIC and the individual states have modified and expanded statutes and regulations to include a broader definition of the policy seller provide protections to investors in the transactions and formalize the regulatory filing and reporting requirements. Regulatory activity by the NAIC and the states, especially those states that took no action on the original Model, is expected to accelerate as the industry grows. Principals Steven W. Fickes, F.S.A., M.A.A.A Steven is an actuary and has been involved in the insurance industry his entire career. Early in his career, he joined Tillinghast, the largest actuarial consulting firm, where he focused on reinsurance, mergers and acquisitions and taxation. He ultimately was made a Principal and headed the firm’s International Reinsurance and Life and Health Insurance Practices. He later formed his own actuarial practice specializing in innovative, highly structured reinsurance transactions and mergers and acquisitions. His involvement as a consultant on mergers and acquisitions led him to become a partner in a leveraged buyout firm that was involved in the acquisition of 15 insurance companies, with an aggregate value in excess of $1 billion. Steve has also been involved in several successful start-ups including the formation of a life insurance settlements firm. During 1995, he formed a $100 million private equity fund, which ultimately completed two major acquisitions. Prior to starting his own firm, Raedel in 2001, Steve was a partner at Deloitte Touche, where he led the firm’s international actuarial practice. During his tenure at Deloitte he worked with the American Cancer Society in developing a lending program for terminally ill cancer patients collateralized by their life insurance policies. Since resigning from Deloitte Touche, Steve has developed an extremely sophisticated insurance information database that has as its subscribers some the largest insurance companies in the US, major investment banks and mutual funds. At the same time, he has pursued various other entrepreneurial opportunities in the insurance sector. Ransom Jones, C.P.A. Ransom has over 30 years of experience working in the insurance industry with major multi-national companies in various areas including accounting and income tax consulting, asset/liability management, product development, asset securitization, mergers and acquisitions, financing, general management, consulting for troubled insurance companies and developing strategic direction. He has worked at American International Group, Citicorp, Goldman, Sachs Co., and was a partner at KPMG Peat Marwick. He has served as chief financial officer at two publicly traded companies and was president of a group of property and casualty insurance companies. For two years, Ransom worked with a start-up senior settlements company in developing its business plan and identifying financing opportunities. During his career, Mr. Jones has been very active in insurance industry affairs. For three years, he served on the NAIC’s Working Group on Emerging Issues which promulgates insurance regulatory accounting standards. He has served on various other NAIC committees. For three years, he was on the Board of Directors of the National Association of Life Companies Over many years, he has been a frequent speaker and author of articles related to the insurance industry. Research Papers on Alternative Investment Fund for Senior Life Insurance Settlements - Business (600 Level Course)Lifes What IfsMoral and Ethical Issues in Hiring New EmployeesTwilight of the UAWAppeasement Policy Towards the Outbreak of World War 2Incorporating Risk and Uncertainty Factor in CapitalOpen Architechture a white paperAnalysis of Ebay Expanding into AsiaPETSTEL analysis of IndiaBook Review on The Autobiography of Malcolm XRiordan Manufacturing Production Plan

Adding Commas to a Paragraph

Adding Commas to a Paragraph This exercise offers practice in applying the rules for using commas effectively. Before attempting the exercise, you may find it helpful to review this article on comma usage. In the following paragraph, insert commas wherever you think they belong. (Try reading the paragraph aloud: at least in some cases, you should be able to hear where commas are needed.) When you are done, compare your work with the correctly punctuated version of the paragraph on page two. The Least Successful Car In 1957 Ford produced the car of the decadethe Edsel. Half of the models sold proved to be spectacularly defective. If lucky the proud owner of an Edsel could enjoy any or all of the following features: doors that wouldnt close hoods and trunks that wouldnt open batteries that went dead horns that stuck hubcaps that dropped off paint that peeled transmissions that seized up brakes that failed and push buttons that couldnt be pushed even with three people trying. In a stroke of marketing genius the Edsel one of the largest and most lavish cars ever built coincided with the rising public interest in economy cars. As Time magazine reported It was a classic case of the wrong car for the wrong market at the wrong time. Never popular to begin with the Edsel quickly became a national joke. One business writer at the time likened the cars sales graph to an extremely dangerous ski slope. He added that so far as he knew there was only one case of an Edsel ever being stolen. When you are done, compare your work with the correctly punctuated version of the paragraph below The Least Successful Car (Paragraph With Commas Restored) In 1957[,]  Ford produced the car of the decadethe Edsel. Half of the models sold proved to be spectacularly defective. If lucky[,]  the proud owner of an Edsel could enjoy any or all of the following features: doors that wouldnt close[,]  hoods and trunks that wouldnt open[,]  batteries that went dead[,]  horns that stuck[,]  hubcaps that dropped off[,]  paint that peeled[,]  transmissions that seized up[,]  brakes that failed[,]  and push buttons that couldnt be pushed even with three people trying. In a stroke of marketing genius[,]  the Edsel[,]  one of the largest and most lavish cars ever built[,]  coincided with the rising public interest in economy cars. As  Time  magazine reported[,]  It was a classic case of the wrong car for the wrong market at the wrong time. Never popular to begin with[,]  the Edsel quickly became a national joke. One business writer at the time likened the cars sales graph to an extremely dangerous ski slope. He added t hat so far as he knew there was only one case of an Edsel ever being stolen.

More Casino's Means More Gambling Addictions in Florida Research Paper

More Casino's Means More Gambling Addictions in Florida - Research Paper Example According to this advocacy group and other casino opponents, legalizing more resort casinos in Miami and other cities in Florida would not only multiply gambling problems but would also lead to a rise in crime rates in Florida (Randazza, P. 69). The arrival of more casinos and the resultant effects such as crimes and gambling addiction would imply more of taxpayers’ money, about $3 billion in incarceration costs according to the No Casino Advocacy group, would be spent. With the arrival of mega-casinos in Florida, the anti-casino groups feel that Florida laws on gambling need to be changed to reduce the negative impacts of casinos and gambling on the people of Florida. While those supporting the arrival of gambling resorts in Florida tout the casinos’ job-creation potential, the opponents of these casinos emphasize that Florida needs to face the reality of the crimes and other ills that would accompany such initiatives (Vasquez, P. 8). Evidently, the rising numbers of c asinos and resort casinos in Florida have resulted in an increase in the number of gambling problems such as addiction and gambling-related crimes (Randazza, P. 71). This paper thus explores the assertion that the more casinos there are in Florida, the more gambling addiction will be reported. ... In fact, today, Florida is known for sunshine and amazing beaches with hundreds of thousands of international and local visitors making their way to the city’s casinos every day. Besides Miami, the other major towns in Florida in which the number of casinos have noticeably increased in recent times are Tampa, Fort Lauderdale, Daytona Beach, Orlando, and Cape Canaveral. Unfortunately, the Florida casinos are not only famous for their sunshine and sandy beaches; they also offer booming businesses, more so gambling, which has been on the rise as more casinos come up every other day in Florida (The Florida Council of Compulsive Gambling, 2012A, P. 10). In other words, gambling has not only increased in Florida due to the many casinos but the problem of gambling addiction has also become a more serious issue. Gambling Florida has not become a problem to the state government only but parents as well since children have also become addicted to gambling. There are numerous types of ga mbling taking place at the Florida casinos in which people get addicted. These games include the famous table games such as Texas Hold-em poker and blackjack. The other common gambling games in Florida casinos are roulette, cruise ship gambling, land-based gaming, slot machines, and dog-track betting among others (The Florida Council of Compulsive Gambling, 2012b, P. 3). Because of the increasing number of Casinos in Florida and the accompanying gambling problems such as addiction, the Florida Council on Compulsive Gambling has been called to action in recent times, particularly on its help line, which has reported an increase in calls for help. The increase in calls for its help has led the Florida Council on Compulsive Gambling (FCCG) to conclude

Individual report Essay Example | Topics and Well Written Essays - 500 words - 3

Individual report - Essay Example The implication Brain in organization, Gareth Morgan metaphor â€Å"the brain† is very instrumental in highlighting the challenges we faced as an organization. The CEO as manger demonstrated the principal of the brain according Gareth Morgan. The CEO was more of a facilitator, practiced boundary management and more of orchestra1. The metaphor organisms, the organization as machine it visible under the specific goals and objectives. The organization in question has blue prints that specifically form the organizational chart and the team has specific assignments and goals to achieve hence, they are expected to act in a given manner2. The CEO is the coordinator of all the other group members that are assigned duties that rhyme with their experience3. An element of machine is evident in this case as there is the marketing and sales role, finical department and the design department. 1. SimVen virtual organization are an essential learning tool that portray the real business environment. The tool facilitated the CEO with an opportunity to coordinate the group well and make the right decisions that were vital at the right moment and time. SimVen virtual organization creates the different environments that are present in each organization. At one point in the project, the owner of the company was being underpaid. The fact above is evident even in real organizations. 2. The experience of using SimVen virtual organization has been very instrumental in molding the group o the real aspects of an organization. It is clear that when the CEO coordinates well the group in making decisions the results is success. As the brain, SimVen virtual organization tests all the real life aspects of an organization in real life. He should not be the ultimate designer and kill creativity in the organization. 3. Clearly, from SimVen virtual organization, as a group and at individual basis it is clear that the CEO is an important link in any organization. He is expected to be a