Credit Default Swaps and Insurance: Against the Potts Opinion

Little attention has been given to the possibility that CDS transactions might be construed as insurance contracts in English law. This article challenges the widespread “Potts opinion”, which states that CDSs are not insurance, because they do not require the protection buyer to sustain a loss or to have an insurable interest in the subject matter. CDSs often do provide protection against loss that the buyer is exposed to; loss indemnity is not a necessary characterisation of an insurance contract; insurable interest does not form part of the definition of insurance, but is an additional requirement of valid insurance; and what matters is the substance not the form of the contract. The situation in the US and Australia is also briefly considered.

Campylobacter jejuni and C.coli in Finnish poultry production

Campylobacter, mainly Campylobacter jejuni and C. coli, are worldwide recognized as a major cause of bacterial food-borne gastroenteritis (World Health Organization 2010). Epidemiological studies have shown handling or eating of poultry to be significant risk factors for human infections. Campylobacter contamination can occur at all stages of a poultry meat production cycle. In summer 1999, every broiler flock from all three major Finnish poultry slaughterhouses was studied during a five month period. Caecal samples were taken in the slaughterhouses from five birds per flock. A total of 1 132 broiler flocks were tested and 33 (2.9%) of those were Campylobacter-positive. Thirty-one isolates were identified as C. jejuni and two isolates were C. coli. The isolates were serotyped for heat-stable antigens (HS) and genotyped by pulsed-field gel electrophoresis (PFGE). The most common serotypes found were HS 6,7, 12 and 4-complex. Using a combination of SmaI and KpnI patterns, 18 different PFGE types were identified. Thirty-five Finnish C. jejuni strains with five SmaI/SacII PFGE types selected among human and chicken isolates from 1997 and 1998 were used for comparison of their PFGE patterns, amplified fragment length polymorphism (AFLP) patterns, HaeIII ribotypes, and HS serotypes. The discriminatory power of PFGE, AFLP and ribotyping with HaeIII were shown to be at the same level for this selected set of strains, and these methods assigned the strains into the same groups. The PFGE and AFLP patterns within a genotype were highly similar, indicating genetic relatedness. An HS serotype was distributed among different genotypes, and different serotypes were identified within one genotype. From one turkey parent flock, the hatchery, six different commercial turkey farms (together 12 flocks) and from 11 stages at the slaughterhouse a total of 456 samples were collected during one and the half year. For the detection of Campylobacter both conventional culture and a PCR method were used. No Campylobacter were detected in either of the samples from the turkey parent flock or from the hatchery samples using the culture method. Instead PCR detected DNA of Campylobacter in five faecal samples from the turkey parent flock and in one fluff and an eggshell sample. Six out of 12 commercial turkey flocks were found negative at the farm level but only two of those were negative at slaughter. Campylobacter-positive samples within the flock at slaughter were detected between 0% and 94%, with evisceration and chilling water being the most critical stages for contamination. All of a total of 121 Campylobacter isolates were shown to be C. jejuni using a multiplex PCR assay. PFGE analysis of all isolates with KpnI restriction enzyme resulted in 11 PFGE types (I-XI) and flaA-SVR typing yielded nine flaA-SVR alleles. Three Campylobacter-positive turkey flocks were colonized by a limited number of Campylobacter genotypes both at the farm and slaughter level.In conclusion, in our first study in 1999 a low prevalence of Campylobacter in Finnish broiler flocks was detected and it has remained at a low level during the study period until the present. In the turkey meat production, we found that flocks which were negative at the farm became contaminated with Campylobacter at the slaughter process. These results suggest that proper and efficient cleaning and disinfection of slaughter and processing premises are needed to avoid cross-contamination. Prevention of colonization at the farm by a high level of biosecurity control and hygiene may be one of the most efficient ways to reduce the amount of Campylobacter-positive poultry meat in Finland. In Finland, with a persistent low level of Campylobacter-positive flocks, it could be speculated that the use of logistic slaughtering, according to Campylobacter status at farm, might have be advantageous in reducing Campylobacter contamination of retail poultry products. However, the significance of the domestic poultry meat for human campylobacteriosis in Finland should be evaluated.

Inhibitory effects of wood extracts on the spoilage flora of marinated poultry meat

Polyphenolic compounds occurring naturally in knotwood of plants are known to have antimicrobial effects. The knots (i.e. the branch bases inside tree stems) and outer branches in pine trees contain a remarkably high concentration of phenolic stilbenes, while lignans are the major phenolic constituents of spruce knots. Large amount of these phenolic compounds can be extracted from wood knots at pulp and paper mills where their presence is undesirable. In Finland, marinating of broiler meat is done not only to increase or add value to the meat, but also to enhance the safety and shelf-life. These products are usually packed under a modified atmosphere for further protection against spoilage microorganisms. However, studies have revealed that addition of marinades to poultry products do not have an inhibitory effect on either some psychrotrophic anaerobic bacteria, such as Brochothrix thermosphacta or lactic acid bacteria associated with spoilage. Also, the activity of pathogenic Campylobacter jejuni is not affected by marinating. The objective of this study was to investigate the inhibitory and lethal activities of extracts from spruce (Picea spp.) and pine (Pinus spp.) knotwood and outer branches that are dissolved in ethanol against the spoilage microorganisms in modified atmosphere packaged marinated broiler products. Modified atmosphere packaged broiler products were separately inoculated with ‘normal’ marinades, marinades with 70% ethanol, marinades with a mixture of spruce and pine extracts dissolved in 70% ethanol or mixture of spruce and pine extracts in powder form. The bacterial colony forming units per gram obtained from each of the samples were analysed on de Man Rogosa and Sharpe agar at days 1, 6, 12 and 15. The results showed that there were significant differences in bacterial colony forming units per gram (P <0.05) between packages with ‘normal’ marinades and packages with extracts added to their marinades on the 12th and 15th day. It can be concluded that the addition of extracts from spruce and pine knotwood to marinades significantly retarded growth of spoilage microorganisms during the 15 day test period. However further research is warranted to characterise and establish the safety and suitability of the compound(s) in spruce and pine knotwood extracts that are responsible for inhibitory or lethal activity against the microbes that may be present in marinated poultry meat.

Evaluation of live-attenuated Salmonella vaccines expressing Campylobacter antigens for control of C. jejuni in poultry

Campylobacter jejuni is a zoonotic bacterial pathogen of worldwide importance. It is estimated that 460,000 human infections occur in the United Kingdom per annum and these involve acute enteritis and may be complicated by severe systemic sequelae. Such infections are frequently associated with the consumption of contaminated poultry meat and strategies to control C. jejuni in poultry are expected to limit pathogen entry into the food chain and the incidence of human disease. Toward this aim, a total of 840 Light Sussex chickens were used to evaluate a Salmonella enterica serovar Typhimurium ΔaroA vaccine expressing the C. jejuni amino acid binding protein CjaA as a plasmid-borne fusion to the C-terminus of fragment C of tetanus toxin. Chickens were given the vaccine at 1-day-old and two weeks later by oral gavage, then challenged after a further two weeks with C. jejuni. Across six biological replicates, statistically significant reductions in caecal C. jejuni of c. 1.4 log10 colony-forming units/g were observed at three and four weeks post-challenge relative to age-matched unvaccinated birds. Protection was associated with the induction of CjaA-specific serum IgY and biliary IgA. Protection was not observed using a vaccine strain containing the empty plasmid. Vaccination with recombinant CjaA subcutaneously at the same intervals significantly reduced the caecal load of C. jejuni at three and four weeks post-challenge. Taken together these data imply that responses directed against CjaA, rather than competitive or cross-protective effects mediated by the carrier, confer protection. The impact of varying parameters on the efficacy of the S. Typhimurium ΔaroA vaccine expressing TetC-CjaA was also tested. Delaying the age at primary vaccination had little impact on protection or humoral responses to CjaA. The use of the parent strain as carrier or changing the attenuating mutation of the carrier to ΔspaS or ΔssaU enhanced the protective effect, consistent with increased invasion and persistence of the vaccine strains relative to the ΔaroA mutant. Expression in the ΔaroA strain of a TetC fusion to Peb1A, but not TetC fusions to GlnH or ChuA, elicited protection against intestinal colonisation by C. jejuni that was comparable to that observed with the TetC-CjaA fusion. Our data are rendered highly relevant by use of the target host in large numbers and support the potential of CjaA- and Peb1A-based vaccines for control of C. jejuni in poultry. © 2009 Elsevier Ltd. All rights reserved.

Investment prospects in integrated fish and poultry farming project: The Kainji Lake Research Institute integrated fish and poultry farm model

The paper examines the feasibility of a small-scale integrated fish and poultry farming project based on an existing experimental model currently in operation at the Kainji Lake Research Institute, New Bussa, Nigeria. Financial analysis reveals a viable investment based on the output from a 2 ha fish pond or reservoir

A proposed integrated livestock-rice-poultry-cum-fish culture in enclosure system

Integrated agriculture-cum-fish farming has been practised profitably for ages in the Chinese small-scale farming system. There is a great potential for this system by utilizing the vast Nigerian flood plains (approx. 515,000 ha). Dogongari Bay in Lake Kainji Basin was identified as a suitable site for this system after some extensive fish culture trials. Polyculture of Clarias spp., Heterotis niloticus and Tilapia was proposed for integration with layers in the poultry house, 2-ha upland rain-fed rice farming and indirect cattle rearing in the 5-ha enclosure site. Cost benefit analysis showed that the system will consistently record profit as from the second year of operation. Various complex factors were identified to affect profitability of this mixed farming system. Concerted research approach is needed to fully understand the interrelationships of the various components of this integrated system. Generous funding of research activities is very crucial in this situation

An assessment of water quality in integrated poultry-cum-fish reservoir, NIFFR New-Bussa in reference to maximizing the water resources potentials of Nigeria for sustainable aquaculture under the sub-theme "Fish production and the environment"

In this reservoir, the parameters being assessed are very important in the aspect of fish culture. These parameters are: physical parameters which includes temperature (O), Transparency (M).Chemical parameters include: Dissolve oxygen (mg/l) pH concentration and the Biological Parameters which include phytoplankton and zooplankton. The phytoplankton and zooplankton identification and estimation were carried out in the NIFFR Limnology Laboratory, (Green House), New Bussa. Each identified zooplankton and phytoplankton species was placed according to its major group e.g. zooplankton was grouped into three families, Roifera, Cladocera and Copepods. During this study period it was observed that copepods have the highest total number of zooplankton both beside the poultry and monk (station 'A'&'B'). Water temperature of station 'A' (beside the poultry house) ranges from 27 C-29, 5 c also same station 'B' (near the monk). Dissolve oxygen station 'A' range from 6.30mg/l-7.40mg/l while that of station 'B' ranges from 6.20mg/7.50mg/l, turbidity reading of station A'ranges from 0.19m-0.3m while station 'B' ranges from 0.22m-0.37m. The last parameter, which is pH concentration, in both stations 8.2 was observed this is an indication that the pH was constant. According to some literature review all the water parameter figures obtained were good for fish culture

Gender equality in life insurance

[EN]This project is going to study the implications of the gender of an individual in the rate-setting process of life insurance. In order to do so there is a review of the continuous changes that have taken place in the national and European legislation following the enactment of the Directive 2004/113/EC, as well as its consequences from the prohibition to differentiate the premiums and benefits on the grounds of gender. In this area, the evolution of the Spanish insurance sector and the influence of the new legislation are examined. Furthermore, there is an analysis of the differences between men and women, which to some extent have a direct impact in the management and development of the life insurance companies. Finally, methods to calculate the premium and the benefits are proposed with the purpose of preventing the restrictions imposed by the Directive 2004/113/EC. In order to check the repercussions of the use of unisex tables a comparison is made between the premiums obtained for a whole life insurance by allocating the same weighing to the actuarial male and female mortality tables and those that would result if the distinction by gender were allowed.

Proceso de creación del “Competitor and Market Report” para cubrir las necesidades de información de la alta dirección de Zurich Insurance Ltd.

Proceso del Competitor and Market Report para cubrir las necesidades de información de la Alta Dirección de Zurich Insurance plc, para la unidad de negocio Global Corporate (GC) en la región de Europa Medio Oriente y África (EMEA) “ El Competitor and Market Report surge de la situación de desinformación en la que los altos directivos y los representantes de CD&M GCiEMEA de cada país se encuentran. Este trabajo consiste en estudiar todo el proceso de creación del Competitor and Market Report, empezando por la identificación del problema, búsqueda de soluciones e implementación y puesta en marcha de la solución. Este proceso nos obligara a inventariar y analizar los estudios que hasta el momento la empresa de seguros Zurich Insurance Ltd, recibía procedentes de fuentes externas o de distintos departamentos que rara vez estaban coordinados en la producción de estos informes. Analizaremos cuales son las áreas de información que estos informes no cubren. El proceso nos obligara a realizar un trabajo de campo. Haremos entrevistas que nos ayudaran a comprender mejor las necesidades de información de los altos directivos. A partir de los resultados anteriores se justificará la creación del Competitor and Market Report, y se estudiará todo el proceso de creación y puesta en marcha de un informe que cubra las necesidades anteriores.