A new website has launched devoted to testing the quantities of toxic chemicals in toys and posting the results online.  Healthy Toys is a “project of the Ecology Center” and is also supported by numerous states, state organizations and non-profit organizations.  The site lists results of tested toys by toy name, brand and type of toy.

I wrote a post in September of this year about some toy recalls and how businesses can purchase recall insurance.  Considering that Mattel Inc. (MAT) “recalled more than 21 million toys”, according to a LA Times article, I’m sure many businesses are purchasing some recall insurance or increasing their current coverage.   

With the Healthy Toys site now available consumers can have a chance to know what toys are returning negative results and in turn better protect their children.  You can also submit a toy you own for testing if it’s not currently within the Healthy Toys database.

It seems to me that our desire for cheaper products has come full circle.  The rules and regulations in other countries that produce the millions of toys consumed in the United States are turning out to be quite different.  This is an issue that is not going to go away anytime soon and will affect many other products aside from toys.

Would you rather spend more money on a toy for your child knowing that the manufacturing process for that toy was safer or spend less money but take a risk with the safety of that toy?  

The recent tragic murder of Washington Redskins safety Sean Taylor has affected many people, least of all Taylor’s family.  According to an ESPN article Taylor had a $600,000 life insurance policy that named his sister as the beneficiary.  

Taylor was not married but he did have a girlfriend and a one-year-old child.  His child will receive “a widow/children’s death benefit that pays $9,000 per month for the first 48 months, then $3,600 per month until the child is 19 years old (or 23 years old if in college).”  I’m impressed with that child benefit, it should help tremendously to raise his child.

In addition Taylor’s family will receive the following benefits:

“Dependent medical insurance through the first game of 2008 through the ‘active player policy.’ and then five further years of coverage under the ‘continuing veteran policy’; $100,000 in a health reimbursement account for dependent health care after the expiration of the ‘continued veteran’ coverage; $103,560 in a 401(k) plan.”

The second wealthiest person in the world, Warren E. Buffett was on a rather lengthy “list of 30 witnesses federal prosecutors filed today with the U.S. District Court, in New Haven, Conn. according to a National Underwriter article.  The fraud case involves General Reinsurance, which is a subsidiary of Buffett’s company Berkshire Hathaway.

This case is rather serious and involves quite a few past and current employees of Gen Re., American International Group (AIG) Merrill Lynch (MER), Bear Stearns & Co. (BSC) and Morgan Stanley.  According to the article the five defendants “are accused in a 13 count indictment of conspiracy, securities fraud, false statements to the Securities & Exchange Commission, wire fraud and mail fraud.” 

The details include “accusations that they engaged in a scheme involving bogus finite reinsurance arrangements designed to improve AIG’s financial picture to impress securities analysts and sustain its stock performance.”  

Let’s see how much press this case gets because of Buffett being called as a witness.     

You might be disappointed to find out that your homeowners’ policy likely doesn’t cover damage to electronic products.  According to a National Underwriter article, a poll conducted by Independent Insurance Agents & Brokers of America (IIABA) found that “60 percent of those contacted believe small electronic items, if stolen from their home or auto, are covered by their policies or don’t know if they are.”  

Considering that many of us will be purchasing or receiving electronic gifts such as computers, Amazon Kindle or iPods loaded with songs it might make sense to understand the coverage limits of our policies.

The following is some general information about coverage but you should check with your specific insurer to be certain.

• Digital downloads are not covered. Some carriers, the IIABA points out, are offering some coverage. The association said agents can suggest to clients that they back up information to multiple locations or purchase a portable storage device to secure and safeguard material against any disaster.

What a shocker.  The popular and now infamous Don Imus is back for more hearty laughs about female college basketball players.  I for one am ecstatic about his return (can you tell I'm being facetious?) and can’t wait for more witty banter between him and his sidekicks.  I’m sure there are plenty more gems for him to uncover that we’ve all been missing this past seven months since his exit from his previous show.  

Funny thing is, I never even knew Imus existed before his comments about the Rutgers female basketball team.  When he starts his radio show I’ll continue to not know anything about him or his show.  

I truly doubt he will stop making sexist and racist comments on his new show because he’s too set in his ways.  Do I think he should be given another chance to have his own radio show?  I think the better question is why would anyone want to have him on their radio channel?  The answer is probably because he brings in decent numbers and for some reason appeals to a certain demographic.

Below are the exact words that Imus and executive producer Bernard McGuirk said on that April 2007 show.  Anyone else dreading Imus’ return to radio?  

Imus: “That’s some rough girls from Rutgers, man they got tattoes, and…
Bernard McGuirk:  Some hardcore hoes.
Imus:  (laughter) That’s some nappy headed ho's there, I’m going to tell you right now.  Man, that’s some, woo.  And uh, the girls from Tennessee, they all look cute you know so.  Kind of like a, I don’t know.
McGuirk:  A Spike Lee thing. 
Imus:  Yeah
McGuirk:  The Jiggaboos versus the wannabees.  That movie that he had.
Imus:  Yeah that was a tough uh.
McGuirk:  Do the right thing.
Imus:  I don’t know if I’d want to beat Rutgers, but they did.”

Which is worse “Jiggaboos versus the wannabees” or “nappy headed ho's?”  Take your pick.

Two of the newest kids on the block in the life insurance policy world, Variable Universal Life and Universal Life, received an influx of annualized premiums according to a LIMRA news release.  The old tried and true duo of term and whole life saw a smaller growth in premiums in the first nine months of 2007.

“All products were up through the first nine months of 2007, especially universal and variable universal life, which were up 9 and 10 percent (23 and 55 percent for the quarter).  Year-to-date, term life grew seven percent and whole life grew three percent.

The biggest portion of the sales increases seen through the third quarter stem from the brokerage channel.  In fact, with the exception of WL, all products were up especially UL and VUL which were up 16 and 19 percent for the year and 28 and 110 percent for the quarter.”  

As the stock market goes so goes VUL sales.  Those underlying sub accounts of mutual funds are not too easily sold when the stock market is tanking or struggling.  Just try and sell a VUL when the mutual funds are showing negative returns. 

Of course most VUL products also offer bond and money market funds as an alternative to stock funds.  With the added tax benefits of a permanent variable universal life insurance policy and the premium flexibility these policies can still fly off the shelves.