Monday, November 9, 2009
Things People Said - Top 32 Car Accidents... ( & Insurance Claims)
1. "A pedestrian hit me and went under my car."
2. "The other car collided with mine without giving warning of its intention."
3. "I had been learning to drive with power steering. I turned the wheel to what I thought was enough and found myself in a different direction going the opposite way."
4. "Coming home, I drove into the wrong house and collided with a tree I don't have."
5. "I thought my window was down; but found it was up when I put my hand through it."
6. "No one was to blame for the accident, but it never would have happened if the other driver had been alert."
7. "The pedestrian had no idea which direction to go, so I ran over him."
8. "I saw the slow-moving, sad-faced old gentleman as he bounced off the hood of my car."
9. "I had been driving for 40 years when I fell asleep at the wheel and had an accident."
10. "I was taking my canary to the hospital. It got loose in the car and flew out the window. The next thing I saw was his rear end, and there was a crash."
11. "I was backing my car out of the driveway in the usual manner when it was struck by the other car in the same place where it had been struck several times before."
12. "The indirect cause of this accident was a little guy in a small car with a big mouth."
13. "The accident happened when the right door of a car came around the corner without giving a signal."
14. "I was thrown from my car as it left the road. I was later found in a ditch by some stray cows."
15. "I had been shopping for plants all day and was on my way home. As I reached an intersection, a hedge sprung up, obscuring my vision."
16. "I was on the way to the doctor with rear end trouble when my universal joint gave way causing me to have an accident."
17. "I was sure the old fellow would never make it to the other side of the road when I struck him."
18. "I told the police that I was not injured, but on removing my hat, I found that I had a fractured skull."
19."My wench slipped, losing my balance, and I hurt my back."
20. "I was unable to stop in time, and my car crashed into the other vehicle. The driver and passengers then left immediately for a vacation with injuries."
21. "To avoid hitting the bumper of the car in front, I struck the pedestrian."
22. "The accident occurred when I was attempting to bring my car out of a skid by steering it into the other vehicle."
23. "When I could not avoid a collision, I stepped on the gas and crashed into the other car."
24. "I collided with a stationary truck coming the other way."
25. "In my attempt to kill a fly, I drove into a telephone pole."
26. "My car was legally parked as it backed into the other vehicle."
27. "As I approached the intersection, a stop sign suddenly appeared in a place where no stop sign had ever appeared before. I was unable to stop in time to avoid the accident."
28. "The telephone pole was approaching fast. I was attempting to swerve out of its path when it struck my front end."
29. "A truck backed though my windshield and into my wife's face."
30. "I pulled away from the side of the road, glanced at my mother-in-law, and headed over the embankment."
31. "The guy was all over the road. I had to swerve a number of times before I hit him."
32. "An invisible car came out of nowhere, struck my vehicle, and vanished."
2. "The other car collided with mine without giving warning of its intention."
3. "I had been learning to drive with power steering. I turned the wheel to what I thought was enough and found myself in a different direction going the opposite way."
4. "Coming home, I drove into the wrong house and collided with a tree I don't have."
5. "I thought my window was down; but found it was up when I put my hand through it."
6. "No one was to blame for the accident, but it never would have happened if the other driver had been alert."
7. "The pedestrian had no idea which direction to go, so I ran over him."
8. "I saw the slow-moving, sad-faced old gentleman as he bounced off the hood of my car."
9. "I had been driving for 40 years when I fell asleep at the wheel and had an accident."
10. "I was taking my canary to the hospital. It got loose in the car and flew out the window. The next thing I saw was his rear end, and there was a crash."
11. "I was backing my car out of the driveway in the usual manner when it was struck by the other car in the same place where it had been struck several times before."
12. "The indirect cause of this accident was a little guy in a small car with a big mouth."
13. "The accident happened when the right door of a car came around the corner without giving a signal."
14. "I was thrown from my car as it left the road. I was later found in a ditch by some stray cows."
15. "I had been shopping for plants all day and was on my way home. As I reached an intersection, a hedge sprung up, obscuring my vision."
16. "I was on the way to the doctor with rear end trouble when my universal joint gave way causing me to have an accident."
17. "I was sure the old fellow would never make it to the other side of the road when I struck him."
18. "I told the police that I was not injured, but on removing my hat, I found that I had a fractured skull."
19."My wench slipped, losing my balance, and I hurt my back."
20. "I was unable to stop in time, and my car crashed into the other vehicle. The driver and passengers then left immediately for a vacation with injuries."
21. "To avoid hitting the bumper of the car in front, I struck the pedestrian."
22. "The accident occurred when I was attempting to bring my car out of a skid by steering it into the other vehicle."
23. "When I could not avoid a collision, I stepped on the gas and crashed into the other car."
24. "I collided with a stationary truck coming the other way."
25. "In my attempt to kill a fly, I drove into a telephone pole."
26. "My car was legally parked as it backed into the other vehicle."
27. "As I approached the intersection, a stop sign suddenly appeared in a place where no stop sign had ever appeared before. I was unable to stop in time to avoid the accident."
28. "The telephone pole was approaching fast. I was attempting to swerve out of its path when it struck my front end."
29. "A truck backed though my windshield and into my wife's face."
30. "I pulled away from the side of the road, glanced at my mother-in-law, and headed over the embankment."
31. "The guy was all over the road. I had to swerve a number of times before I hit him."
32. "An invisible car came out of nowhere, struck my vehicle, and vanished."
New liquidity rules could cost borrowers
The Australian Prudential and Regulation Authority’s (APRA) new liquidity rules could add 0.05 of a percentage point to borrowing rates.
According to a report in The Australian Financial Review, the proposed rules have been modelled off a similar British reform, which caused the small cost to be imposed on UK banks.
APRA has said it wants to avoid a repeat of the liquidity crisis that occurred in late 2008 when banks could not fund their balance sheet commitments.
Under the new rules, banks would be forced to hold larger quantities of liquid assets and a higher quality of liquid assets.
“The world needs strict and precise timetables for imposing tougher regulations because the forces of amnesia and resistance to change that will inevitably accompany the return to calmer global conditions may soon begin to chip away at fundamental reforms,” APRA chairman John Laker said in a speech last week.
According to a report in The Australian Financial Review, the proposed rules have been modelled off a similar British reform, which caused the small cost to be imposed on UK banks.
APRA has said it wants to avoid a repeat of the liquidity crisis that occurred in late 2008 when banks could not fund their balance sheet commitments.
Under the new rules, banks would be forced to hold larger quantities of liquid assets and a higher quality of liquid assets.
“The world needs strict and precise timetables for imposing tougher regulations because the forces of amnesia and resistance to change that will inevitably accompany the return to calmer global conditions may soon begin to chip away at fundamental reforms,” APRA chairman John Laker said in a speech last week.
Offshore investors take double hit
The recent rate hike by the Reserve Bank will have an adverse impact on overseas property investors, CB Richard Ellis regional director of institutional investment properties Rob Sewell has claimed.
This will be the second blow for offshore investors who are currently struggling under the improved Aussie dollar.
“Overseas funds that need to borrow to offset their currency hedging will be impacted,” Mr Sewell said.
“While this will not affect the closed end funds, it will have an impact on the open ended funds that have been increasingly active in the Australian market.”
However, Mr Sewell said the premiums that banks were charging were beginning to ease for preferred customers and this would “take some of the sting out of the interest rate rise”.
CBRE executive, global research and consulting, Kevin Stanley, said an ongoing issue for the commercial market was the level of lending for commercial property investment and development, which was still well below long term averages.
“Banks are generally already overweight in lending to commercial property, so the cost of debt is not so much the issue at the moment; lowering LVR’s is,” Mr Stanley said.
This will be the second blow for offshore investors who are currently struggling under the improved Aussie dollar.
“Overseas funds that need to borrow to offset their currency hedging will be impacted,” Mr Sewell said.
“While this will not affect the closed end funds, it will have an impact on the open ended funds that have been increasingly active in the Australian market.”
However, Mr Sewell said the premiums that banks were charging were beginning to ease for preferred customers and this would “take some of the sting out of the interest rate rise”.
CBRE executive, global research and consulting, Kevin Stanley, said an ongoing issue for the commercial market was the level of lending for commercial property investment and development, which was still well below long term averages.
“Banks are generally already overweight in lending to commercial property, so the cost of debt is not so much the issue at the moment; lowering LVR’s is,” Mr Stanley said.
Agents enjoy strong spring activity
The spring selling season is still well and truly active, according to RP Data’s latest market activity index.
Although RP Data’s head of property research Tim Lawless said he expects the index to dip in the weeks leading up to Christmas, current figures show properties are selling faster and vendors are having to move less on their asking price.
The average level of discounting, which measures how much negotiation is taking place in the market, fell from 7.0 percent last year to just 5.4 percent, suggesting that vendors are regaining some leverage as buyer demand increases.
The average number of days on market has also fallen considerably compared with last year. The average Australian house is now taking just 41 days to sell compared to 53 days last year.
New listings to the market have slipped below 48,000 for the first time in more than six weeks. This may be the first indication of the imminent Christmas / New Year slowdown in property transaction activity.
Total stock listings have also continued to fall indicating that the properties available on the market are continuing to sell. At the same time last year, there was 40,000 more properties listed for sale than there has been over the last month.
Although RP Data’s head of property research Tim Lawless said he expects the index to dip in the weeks leading up to Christmas, current figures show properties are selling faster and vendors are having to move less on their asking price.
The average level of discounting, which measures how much negotiation is taking place in the market, fell from 7.0 percent last year to just 5.4 percent, suggesting that vendors are regaining some leverage as buyer demand increases.
The average number of days on market has also fallen considerably compared with last year. The average Australian house is now taking just 41 days to sell compared to 53 days last year.
New listings to the market have slipped below 48,000 for the first time in more than six weeks. This may be the first indication of the imminent Christmas / New Year slowdown in property transaction activity.
Total stock listings have also continued to fall indicating that the properties available on the market are continuing to sell. At the same time last year, there was 40,000 more properties listed for sale than there has been over the last month.
Green shoots of recovery in wholesale markets: FirstMac
Brokers will welcome the news that competition may soon start to filter back into the market with early indications that wholesale market investors are returning.
FirstMac’s chief executive officer Kim Cannon has confirmed that wholesale markets are beginning to experience renewed interest from foreign investors.
The increased interest follows months of hesitation from investors, with the global financial crisis effectively freezing securitisation markets.
“Investors are reentering the market thick and fast now, however I believe it will be another six to 12 months before we see any marked improvement in the wholesale arena,” Mr Cannon told Mortgage Business.
While there is increased investor interest, Mr Cannon said the hardest task for non-bank lenders will be rebuilding consumer confidence.
“A lot of people were burned by GE because it didn’t stay in line with the majors. But we are trying to rebuild confidence in the non-bank sector and hopefully in time, we will rebuild the trust people once had in second tier lenders.”
FirstMac is currently in talks with the Australian Prudential Regulation Authority about obtaining a license that will allow also it to tap into the retail deposit market and diversify its funding base to maintain funding for borrowers.
“What the financial crisis has taught us is that we need to have access to funding other than securitised, because when that funding source freezes, we are left in a very vulnerable position,” Mr Cannon said.
FirstMac’s chief executive officer Kim Cannon has confirmed that wholesale markets are beginning to experience renewed interest from foreign investors.
The increased interest follows months of hesitation from investors, with the global financial crisis effectively freezing securitisation markets.
“Investors are reentering the market thick and fast now, however I believe it will be another six to 12 months before we see any marked improvement in the wholesale arena,” Mr Cannon told Mortgage Business.
While there is increased investor interest, Mr Cannon said the hardest task for non-bank lenders will be rebuilding consumer confidence.
“A lot of people were burned by GE because it didn’t stay in line with the majors. But we are trying to rebuild confidence in the non-bank sector and hopefully in time, we will rebuild the trust people once had in second tier lenders.”
FirstMac is currently in talks with the Australian Prudential Regulation Authority about obtaining a license that will allow also it to tap into the retail deposit market and diversify its funding base to maintain funding for borrowers.
“What the financial crisis has taught us is that we need to have access to funding other than securitised, because when that funding source freezes, we are left in a very vulnerable position,” Mr Cannon said.
Property prices surge
Residential property prices in Australia increased 3.7 per cent in September to a six year high.
The latest figures from Australian Property Monitors (APM) showed that Melbourne is the fastest growing real estate sector with prices rising 6.1 per cent in the third quarter of the year, the fastest quarterly increase since 2003.
The average house price in Melbourne was $487,249, compared with $437,560 in September last year; the city's average house price has now risen 11.4 per cent during the last 12 months.
Hobart is not far behind Melbourne, with prices up 5.4 per cent for the quarter.
APM economist Matthew Bell has warned that the recent jump in property prices may not be sustainable over the longer term because they are currently being underpinned by first home buyers.
According to Mr Bell, the rise in house prices across the nation is being led by the explosive growth in the more expensive suburbs which have seen house prices steadily climb since June.
“House price growth in Australia has come despite massive falls in many developed economies due to the global economic crisis. Low interest rates, generous government grants for new home buyers, relatively low unemployment, and strong population growth have all helped to lift demand for houses,” he said.
The latest figures from Australian Property Monitors (APM) showed that Melbourne is the fastest growing real estate sector with prices rising 6.1 per cent in the third quarter of the year, the fastest quarterly increase since 2003.
The average house price in Melbourne was $487,249, compared with $437,560 in September last year; the city's average house price has now risen 11.4 per cent during the last 12 months.
Hobart is not far behind Melbourne, with prices up 5.4 per cent for the quarter.
APM economist Matthew Bell has warned that the recent jump in property prices may not be sustainable over the longer term because they are currently being underpinned by first home buyers.
According to Mr Bell, the rise in house prices across the nation is being led by the explosive growth in the more expensive suburbs which have seen house prices steadily climb since June.
“House price growth in Australia has come despite massive falls in many developed economies due to the global economic crisis. Low interest rates, generous government grants for new home buyers, relatively low unemployment, and strong population growth have all helped to lift demand for houses,” he said.
Subscribe to:
Posts (Atom)
