Insurance regulation Essay Example | Topics and Well Written Essays - 8250 words

Insurance regulation - Essay Example - Broadly speaking, ‘insolvency’ means inability to pay creditors.1 However, depending on the context, this colloquial usage may refer to any one of the several related concepts.2 To clarify definitional matters and to set out common terminology, it is necessary to distinguish between (1) balance sheet insolvency; (2) cash flow insolvency (or financial distress); (3) economic failure (or economic distress); (4) liquidation; (5) reorganization; and (6) insolvency proceedings or bankruptcy. This is an accounting concept signifying that the book value of a firm’s assets is less than its liabilities. It should be distinguished from so called ‘cash-flow’ insolvency, in which case a firm is unable to pay its debts as they fall due. Such inability may be inferred from the fact that a company has failed to pay, on demand, a debt which is due. Financial economists commonly use the expression ‘financial distress’ to refer to the condition experienced by a firm which is having difficulty in paying its creditors. Although there are some terminological differences between authors, the phrase is often used to refer to the condition of a firm which is in substantial default on its debt obligations. To a far greater extent than the balance sheet test of insolvency, financial distress is dependent on the structure of the repayments under outstanding debt obligations, and the nature of the assets available to satisfy them. Illiquid assets and large repayments may mean that a firm which is solvent in a balance sheet sense cannot pay its debts as they fall due. Conversely, a firm which has significant growth opportunities and debt repayments spread over a number of years may be insolvent in a balance sheet sense, but nonetheless be able to pay its debt as they fall due. Solvency should be distinguished from economic viability. Insolvency is concerned with the relationship between a firm’s assets or cash flows, and the amount of debt in

Millennials Essay Example | Topics and Well Written Essays - 1500 words

Millennials - Essay Example ew up making decisions with others and using tools that provide instant gratification for support and other needs and desires, Millenials are different from other generations in how they form and develop their workplace and close relationships because constant technology usage and communication has affected how they think and express what they think about. Millenials grow up always connected through technology because parents are working harder than ever, therefore conditioning their kids to get used to helicopter parenting from childhood to adolescence through technology. Their parents already gave them their cellphones at a young age. Some Millennial kids had their first cellphones at age 8 (Tyler para.8), while others, much earlier. Parents do this generally because they want to ensure continuous communication. After all, many households nowadays have parents working full-time. Even mothers who stay at home work through having their businesses or Internet-based jobs or are busy with community affairs. One of the ways they can ensure that their children are safe and that they can influence their decisions is through helicopter parenting (Tyler para.5). Jeanne Achille, CEO of Shrewsbury, a public relations firm, notes that she receives constant information streaming from her daughters, telling her what they are doing and even what th ey plan to do (Tyler para.1). She admits that she would never have given her own parents this level and frequency of information before (Tyler para.3), which underscores that, as a parent, she is one of the drivers of her children’s frequent usage of and dependence on technology for communication and relationship-building purposes. Families are significant motivators for using technology with such pervasiveness among Millenials. Parents also affect school and workplace practices, as they extend their helicopter parenting to their children’s schools and careers. Kathryn Tyler reports about parents who meddle in academic courses,