The 2014 Motor Insurance Premium Rates are out and taking effect as from 15th February 2014. Of course there are increases but I do not foresee the premium increase is going to be damaging to the wallet, rather a soft landing for the rakyat and yet enable both insurers and takaful operators to cash-in on some additional premiums to better cope with the deteriorating trend of our country’s motor insurance losses, if at all the Malaysian Motor Insurance Pool (MMIP) is taken into consideration. And yes, this is the third such increase since 2012….
How do I get promoted to Chief Risk Officer (CRO) this year and earn loads more money? Based on our research it seems inevitable that a number of our readers will be promoted to CRO this year. So how do you make sure that you are one of them? Firstly, you have to convince the board that they need a CRO if your company doesn’t already have one. To do this you need to show them that the function will add real value and improve the bottom line. To achieve this you will need to find a risk that manifested itself last year and show how a more holistic approach to risk management (carried out by you) would have prevented it from occurring. Preferably choose a big incident that cost the company a lot of money and/or reputation and make sure it’s a risk that you did not take the blame for failing to spot and….
This article considers the issue, from a practical perspective, of the effect that indemnity clauses within contracts executed by “professionals” have on coverage under their professional indemnity insurance policy. In this context, a professional is one who has a professional indemnity insurance policy…. It is relatively common to find professionals signing away contracts containing various engagement or indemnity clauses to that the extent of exposing them towards indemnifying their clients and the owners in respect of….
I somehow got (over the last three years or so) to the point that agents are not interested in just products or product packaging that insurance companies could provide to them to sell; there is no shortage in new products or packaging of products including services that are available in the market, and certainty not when agents are allowed to represent two principals….
The insurance agents are actually