That being said, there is a difference between a weak password and a worthless password. And, far too many people are using worthless passwords. Obviously, no one deserves to be a victim of online fraud or identity theft, but some people are almost inviting criminals to ruin their lives.

If you think this is being too harsh, think again. Look at SplashData’s Worst Passwords of 2016, which is based on over 5 million passwords that were posted or advertised for sale on the Internet.

123456
password
12345
12345678
football
qwerty
1234567890
1234567
princess
1234
This list makes it easy to understand how passwords can be rendered virtually worthless by being weak. It’s absurd to think anyone is actually using these passwords, but it’s true. Unfortunately, it doesn’t look like people are learning their lesson.
123456 and password remain atop the list of worst passwords for the third straight year.
Though eight new passwords cracked the top 25 in 2016, including hottie, loveme and flower, seventeen of them made the list in 2015.
But wait, it gets even worse. These passwords are actually being used to protect a different kind of sensitive information. The kind of information that the world can know, but a spouse cannot.
Millions of passwords were leaked during the Ashley Madison breach. If you thought people would use strong passwords to conceal their infidelity, if not their account numbers, you’d be wrong. Here are the top 5 passwords revealed by the breach:

123456
12345
password
DEFAULT
123456789
Passwords are the first line of defense against unauthorized access to our personal and professional lives. Passwords that are memorable are typically weak. They must be strong to be effective. According to Microsoft, a strong password:
Is at least eight characters long.
Doesn’t contain your user name, real name or company name.
Doesn’t contain a complete word.
Is significantly different from previous passwords.
Contains uppercase and lowercase characters, numbers and symbols.
There are various insurance products specifically designed for identity theft and other cyber threats. Quite frankly, we’ve gotten to the point where everyone should have this kind of insurance coverage. Nevertheless, even though insurance can help you recover after an incident, preventing incidents from ever happening should still be the goal.
To hackers and identity thieves, accounts protected by weak passwords aren’t really protected at all. Weak passwords only provide the illusion of security. It’s like hanging your spare key from the door knob. What’s the point of even having a lock?

If you have any questions about the information provided in this article, please visit Setnor Byer Insurance & Risk at http://www.setnorbyer.com or call us at (888) 253-8498.

A year which could have been an astounding year for the Indian insurance sector in terms of premium growth is abruptly staring at a state where harmonizing the last year’s figure seems an intimidating challenge. The most recent three months of financial years have conventionally been the months that observed peak collection for the industry.

Now given the lockdown in serious last week of April, premium collections are beginning to suffer considerably. The blow is enormous for the reason that most cities are now under lockdown. Owing to flight annulments, travel insurance is not being bought by customers. Purchasing new policies where insurers need to take up medical tests are consuming time and has a delay. There is no more new policy issuance for NRIs or those with current travel history. So, in general, the insurance segment has been hit in many directions.

Insurance Premiums Vs Death Claim challenge
In addition to the loss of new business premiums, the insurance sector is looking at a challenge of enhanced death claims. Though the government has proceeded positively and gone for a total lockdown of 21 days even prior to the number of death toll ascent to double digits. Nevertheless, given the early signs of community spread becoming obvious and the size of the country, nothing can be taken for granted. Insurance agencies feel it would be too early at this stage to remark on exponential augmentation in death claims in life insurance. If India can efficiently manage the spread, subsequently, there could be a slighter impact on life insurance claims. Talking about life insurance policies, a number of organizations will persist to honor the claims on current policies conversely; the price of future policies will see an increase in the rates and the number of policies that offer comprehensive coverage may witness a fall,

The IRDA Clarification
Corona is going to the major challenge the Indian insurance sector has seen so far. The infection has a pan-India reach and there is a very genuine risk of its distribution exponentially. Treatment of COVID-19 may require extended hospitalization which could be expensive. Many individuals have some type of health coverage, be it a company of personal health cover. Though, as this virus is new, there is a lot of uncertainty if corona cases would be covered under offered health policies or not. To deal with the concerns of the policyholders and to bring clearness on the coverage of coronavirus, insurance regulator IRDA came up with instructions for the insurance companies on March 4. The IRDA law stated: that if the hospitalization is covered then the insurance firms shall ensure that the cases related to COVID 19 shall be rapidly handled.

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!