do private Insurance firms have Bankruptcy Insurance ?

EDIT: Yes, there is something called Reinsurance.

Reinsurance is a means by which an insurance company can protect itself with other insurance companies against the risk of losses.

What about them going down. there’s something for that too.

Reinsurance companies themselves also purchase reinsurance and this is known as a Retrocession. LOL

so then, there is a way they can all go down at once? Nah.. they are covered. They usually have a clause in the agreements to limit there risk of catastrophically large losses.

Typically, insurers prefer to limit their exposure to a loss from a single event to some small portion of their capital base, on the order of 5 percent.

And since I am not writing an assignment, I can officially quote from Wikipedia Insurance and Reinsurance

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do private Insurance firms have Bankruptcy Insurance ?

Isn’t it very important?

guarantee from the Govt. is one thing I can imagine. public companies have it easy. what about private companies?

do they pay a premium too, then, to the Govt. for bankruptcy insurance?

and is there a cap on the insurance to the sum insured ? [like I think ther's a Rs 1 lac cap on insurance of SB accounts for centralized banks?]

(Cheers to KP, for initiating the discussion)

on a different note, can the govt arbitrarily move funds (derived from taxes) wherever they care to? hmm…

Emergency contact numbers of family members

Here, I am talking NOT about 112/108/911 kind-of emergency, but instead about the first point of personal contact like family or friends.

Is there a standard protocol to save emergency contact numbers in mobile phones?

How about SpeedDial 2 being used for the emergency number? (Like SpeedDial 1 is reserved for voicemail. )

Enforcing end users to set it manually, is of-course not a good solution, and would only work with people who are aware and enthusiastic. 

However, there is scope for this to be done in the network end, if the required no is taken during subscriber registration.

The user, signing up for the connection, provides the next-to-kin/family/friend emergency contact number and that is stored in the network —> using SpeedDial 2 (press and hold button 2) —> phone sends request to the network to connect to the emergency family member number provided by the subscriber —> and the call is thus routed beyond.

There is also scope for mulitple numbers to be defined and fallback in case of non-availability of the primary emergency phone no, right?

What do u think? (there’s always the comments section for feedback

PS: another use-case : If u find someone’s lost phone, what number in there do u try to contact? the first number in the phonebook? how relevant would that be to the situation? you’ll look for “Home” ? (that’s smart, isn’t it ) isn’t there a need to find his/her “primary” alternate contact number..

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orkut bug

i hope to God i haven’t sent out the annoying “new themes released” or “a girl has spoken abt you in my scrapbook” messages to ppl

it’s been a while its going around and team-orkut hasn’t done anything to stop it ?