Year: 2010

Bank Negara’s Circulars and Guidelines | Happy New Year 2011

Happy Holiday at the beach?

Here we are at the very doorsteps of 2011 and a public holiday to go along with the celebration. Today’s holiday was declared by the Prime Minister for the nation to celebrate the Malaysian football team’s one of those rare…

Motor Insurance Portfolio – A Magical Formula in time for Christmas?

Malaysian bak kut teh

Today is Christmas Eve and I am staring blank into my notebook’s screen….. and I am on leave currently – taking leave from the hustle and bustle of everyday life only to be inspired working on a Christmas-blog! Stucked along…

Foreign Workers’ Compensation Scheme | frolicking with the extras….

  Whenever a Malaysia-domiciled enterprise engages a foreign worker, the following types of insurance are compulsory: Foreign Workers’ Insurance Guarantee (or Bond) (FWIG) Foreign Workmen’s Compensation Scheme (FWCS) Foreign Workers’ Health Insurance (taking effect from 01.01.2011)   CEO! You may…

Salary increment, Promotion and Bonus 2010-2011

promotion and bonus in insurance industry

Just like any past year-ends, 2010 is of no difference for it’s bonus time once again. Staff performance appraisal and review once again are some inevitable tasks for the managers. This is no exception for me either, having spent last…

Saving on Service Tax | Your Insurance Policy

service tax 2011

Just received news concerning the new service tax application – mainly to do with the timing and cut-off date relevant to the transition process, from the existing rate of 5% to 6%. On December 2nd, 2010 the Ministry of Finance…

Entertaining the Insurance Distribution Channels

Entertaining our business channels (eg. agents and brokers) is part and puzzle of doing business – this has always been a tradition of sort for most industry and globally recognised as such. In this aspect our Malaysia insurance industry is…

Frustration when buying motor insurance?

Over the past months, I had quite a number of people calling (including emailing) me for information as to how and where to buy insurance for their motor insurance online. Many were complaining of the very expensive premiums that they…

CEO in Vietnam | Vietnam Internet Insurance Marketing

CEO in Vietnam… on internet insurance millionaire agents Just landed in Hanoi International Airport….. I just woke up to my senses when the airplane finally glided down on the runway with a loud thud, realising that I am now the…

Pay up the 1% extra service tax on your insurance premium….

[ad name=”Google Adsense”] Come 1st January 2011 if you own a business you would be required to pay an extra 1% of the premium as service tax. This means an additional RM40 million in service taxes to the government coffer.…

Punitive Damage Awards |Are these recoverable under Reinsurance Agreement?

What are punitive damage awards? In the context of this posting, punitive damages or what is usually termed as exemplary damages are damages intended to deter the defendant and others from engaging in conduct similar to that which formed the…