The marine insurance sector is undergoing a period of change. We need to ensure we fully understand the risks our industry is facing and offer products that match these new trends and deliver adequate cover needed.
Having Singapore insurers cover foreign vehicles will lead to greater confidence for victims that their no-claims discount will be protected, as there will be no cross-border claims involved. Hence, this will encourage them to claim against their own policies first and get their vehicles repaired earlier.
The MAJORITY of new, international power plant and other process types of projects being constructed using unskilled and largely unsupervised construction labor suffer from sloppy workmanship which does not comply with the codes, standards and best industry practices required in the construction contract(s).
If the first and the second innovation of the technology revolution liberated the human strength, the physical strength, this revolution liberate the strength of human brain —- the future world will be connected by data, instead of oil or other things. It is not about how the internet connects business to consumers but rather how the use of big data helps business customise their offerings according to the needs of the consumers. Ma said that the key for Internet companies to surviving and enjoying long and prosperous lives would depend on how well they work together with traditional brick-and-mortar companies.
Section 94 and 95 of the RTA 1987 prohibits an insurer from relying on certain terms in an insurance policy for the purposes of excluding liability. On the other hand a term or condition which does not come within the purview of section 94 and 95 may be legitimately relied upon by the insurer for the purposes of excluding liability under the policy when a claim is brought by a third party. The question now is whether Section 91(1)(b) of the RTA 1987 can be legitimately relied upon by the Appellant to exclude liability. The answer to this question lies in section 95(k) of the RTA 1987 itself.
This 2015 tariff premium increase is the 4th of the scheduled increases mooted under the 2011 New Motor Insurance Cover Framework that was established by a Joint Working Committee comprising of Bank Negara, PDRM, Ministry of Health, Judiciary, Malaysian Bar, Ministry of Finance, Insurance & Takaful Industry, Consumer associations and Transport associations. The implementation date is 23 February 2015.