Welcome to the Corrigans web site.

What an interesting year 2009 is turning out to be. Having hit a low point in October last year global stock markets made a valiant attempt at a revival only to hit what appears to have been rock bottom on 5th March. Since then most funds are up by 20% or more with emerging markets up by as much as 75%.

This poses more problems than may at first be apparent. Those same markets undoubtedly have much further to rise over the next few years but it seems most likely that for the rest of this year there will be considerable turbulence as the biggest investors take profits on some stocks and move their holdings into different sectors in the hope of predicting what "the next big thing" will be. Whilst there are good grounds for hoping the FTSE will achieve 5,000 points by the end of the year, the journey will not be one for the faint hearted.

Many investors lost about a third of the value in their portfolios between last summer and this spring. When markets are rising there is a strong temptation to leave everything running "on the next throw of the dice" but this is a time for you to consider just how much risk you are happy with. Having made more than 10% this year is that enough? After all, the gains that you built up in the past took several years and so you should not feel the need to repair the loss in the blink of an eye. There are options to bank your "profits" and wait for more benign investment conditions.

Of course there will be others for whom the current valuations in global markets represent incredible buying opportunities when viewed over the medium or longer term. For those that are comfortable with the risks involved and who have the time and patience to wait 2009 could prove to be a landmark opportunity. 
 
The story about Personal Accounts (or the National Savings Pension Scheme to give it its full name) becomes clearer, if not more attractive, each month. There is an update on the latest news in 'Frank Talking' which can be found under the 'about us' tab above .  

On the insurance side there are two topics that you might have missed but need your attention. 

The first of these was the implementation of the Health & Safety (Offences) Act in January which has the affect that all employees - including directors and managers - who ignore Health & Safety rules may be sentenced to prison WHETHER OR NOT AN INCIDENT PROVES FATAL. Please talk to Corrigans about managing your Health & Safety risks and also protecting you and your business with a Directors and Officers Liability policy against the additional risks faced because they are not covered by the usual Employers & Public Liability policies.

Under the fabulous title of The Energy Performance of Buildings Directive our rulers are laying down parameters that must be followed in order to help the UK achieve its commitments under the Kyoto Protocol. Whilst manufacturers may think that their exclusion gets them off the hook the Directive applies to the office and canteen facilities, so no-one is safe! In essence an Energy Performance Certificate is required whenever a commercial building is sold, leased or built and the Certificate has to be renewed at 5 yearly intervals. Getting the Certificate may be considered irritating and a needless minor expense, but that is just the start. Improvements to the energy efficiency of the building may become very expensive indeed but will lead to a better sale or lease value and easier disposal. Ongoing Statutory inspections will be a recurring cost and you may prefer to use the same independent specialist to inspect other Non-Statutory items to give you a consistent report on the overall energy performance. Please talk to Corrigans for help in planning your approach to this Directive and in finding the most appropriate inspection authority for you.