Exposure Draft on Outsourcing Arrangements for Financial Institutions

Malaysia October 9 2017 Bank Negara Malaysia (i.e. the Central Bank of Malaysia) (BNM) had on 28 September 2017, issued an exposure draft of the Outsourcing Guidelines (Exposure Draft) to obtain public and industry feedback on the proposed regulatory requirements.…

How Gas Stations Work And The Technology Behind It!

This writeup is a good read for underwriters….  How Gas Stations Work We all use them at least a couple of times a week, but do you really know how gas stations work? A typical gasoline station has a storage capacity of…

Telematics Insurance | Learning from Singapore?

Insurers take advantage of technology to offer motor policies based on usage, driving habits Lorna Tan Invest Editor/Senior Correspondent With technological advances shaping the insurance industry, more insurers and their customers are adopting the so-called usage-based options which set premiums…

Professional Indemnity Insurance for Medical Practitioners will be Mandatory in 2019

Malaysia’s Medical practitioners applying for the Annual Practicing Certificate (APC) must provide proof of cover for Professional Indemnity. Recent regulations pose that effective January 1, 2019, all medical professionals will require this as a mandatory cover in order to practice.…

Government Tables Employment Insurance Scheme (EIS)

The government tabled the Employment Insurance Scheme (EIS) bill to aid retrenched workers with bridging benefits and allowances. It seeks to provide an insurance system for workers who have lost their employments by providing certain benefits and re-employment placement programme.…

What and How do we tackle application fraud?

The following is an opinion article, written by Neil Clutterbuck, chief underwriting officer at Allianz, UK. With fraud adding an estimated £50 to every UK policyholder’s insurance bill, preventing it is a key responsibility for insurers. But while the industry…