My Personal Finance Blog

Ice skates were originally invented to help people save energy whilst they were hunting in harsh winter conditions. Early ice skates were made from the leg bones of horses, ox’s and deer. The early versions of the skates were attached to the feet with leather straps and the people that wore them used a long pole with a sharp metal spike to help propel them along.

These skates have since been developed for different types of skating. The most notable development of the traditional Finnish design took place in New Brunswick in 1859 when James A. Whelpley developed the skate to help people that wear them travel over extensive distances. The skate was designed to help the user travel rapidly along the Long Reach section of the St John River. The skate was made up of a steel blade that was attached to a pair of normal boots with leather straps. The design and quality of these skates has been in development ever since.

Although it may look like the ice skate comprises of a single blade skate the actual blade of the skate does not meet at a single point like a knife. Instead the ice skate blade has two blades that have a hollow ridge between them. Both of these blades run parallel to one another and indeed the better the quality of the skates the better the more consistent the two blades are.

Poor maintenance and improper sharpening techniques can therefore damage the effectiveness of the skates and can have a considerable effect on an individual’s ability to skate. The hollow between the two blades is known as the Radius of the Hollow and the depth of this hollow is different depending on the types of skating that the skates will be used for and the ability of the skater.

The radius of this hollow can be anything between 0.5 cm and 2.5 cm. In general the larger the hollow the greater the control the skater has but skates with less of a hollow can achieve greater speeds. The style of skate that the person chooses is generally made as a result of a number of different factors including the skater’s ability, strength and also the activity that they use the skate for.

There are five core types of ice skate which each have unique aspects that differentiate them from the rest. These skates fall under the following categories figure skates, hockey skates, bandy skates, racing skates and touring skates. Figure skates are typified by the toe picks on the front of the blade and are designed to enable jumps in figure skating.

Hockey skates are used for playing ice hockey and typically do not use moulded plastic on the upper section of the boot so that the skater can have a good range of mobility. Racing skates generally have longer blades and they are often higher than other skates so that the skater can make deeper turns without the boot contacting the ice.

Touring skates are those that can be attached to cross country ski boots and are used to travel long distances on ice. The length and breadth of these skates makes them steady on uneven ice and the fact that the skates can be removed from the boots make them popular as it is possible to approach any terrain without having to completely remove the boot.

This article draws on a big court case in Indianapolis with AIG disputing a life policy worth $15 million. Under normal circumstances, insurers pay out whenever they receive the death certificate. They may privately grumble the claim has come earlier than expected, but their public face will offer sympathies for the loss and pay. Indeed, if any company gets a reputation as a bad payer, their business is likely to dry up fast. With PR and marketing being everything in persuading people to part with their money, insurers usually pay out without comment. Why so different in this case? Well, the first issue is the circumstances of the death. This was a confident older woman aged 74 and she was found fully-clothed, drowned in her bath. The homicide unit has investigated and, despite the fact her family said she always preferred to take a shower, it has ruled her death accidental. No matter that the world might find the circumstances “suspicious”, particularly because the holder of the life policy admitted to being the last one to see her alive, there is no ongoing investigation. This has left the insurance company to dispute the payment.

Four years ago, this active lady was a director responsible for marketing. The company and fellow director insured her life for $15 million. This is perfectly proper as a part of succession planning. It gives the company the cash to buy out the shares and cover losses while a replacement key person is found. Except there is some suspicion the appointment of this lady as a director was only done to justify getting the insurance coverage. The rules are reasonably straightforward.

If you go to a race track, you can bet which horses will win and place. You pay and if your luck (and skill) give you the right result, the bookmaker pays. You could ask the bookmaker whether it is possible to bet on the day, week, month or year someone will die. If such a bet was accepted, you would have a direct financial incentive to arrange for this stranger’s death at the appropriate time. To insure someone’s life requires you have some direct interest in the individual, usually as a relative or someone upon whom you depend. That is why this company insured a marketing director and not an office cleaner. That position fits into the expectation of the insurer and justifies the big pay out.

There are about one hundred cases pending before the courts around the US alleging that investors have been insuring the lives of strangers. Because this is the equivalent of wagering or betting, the insurers are refusing to pay. In many of these cases, there are paper justifications for the policies, e.g. to insure a borrower. It will be very interesting to see how these cases are resolved. As for the ordinary case, you can confidently get life insurance quotes for any member of your family or other relatives. If someone acts as a carer, this will justify a higher pay-out to cover the cost of a replacement. But, if you are potentially insuring someone not related to you and not acting in some protective role towards you, disclose this fact to the life insurance company before confirming the policy. Only by complete honesty at the outset can you protect everyone’s interests in the long run.