Insurance Practices

Is it really very difficult when coming to the subject of determining the value of tea leaves? What about determining the types and grade of those leaves after a loss incident? How can we recognise tea leaves of higher grade or value from those that are lower in range? What is the difference between...
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On 1st July 2010, the nation’s No Claims Discounting (or NCD in short) system has finally gone online. Despite all the grumblings, howlings and discontentment over the forced implementation among various stakeholders, things seemed rather quiet – perhaps for the real grouses and the complaints to move up the complain-channels, this would surely takes...
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The date, 1st July 2010 will mark another day for a major change to a long established Motor insurance practice…. this time is about the manner the No Claims Discount (or NCD) is to be confirmed. We expect some rough moments ahead as we viewed this new confirmation procedure as being haphazardly handled…. but...
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In essence the underwriting process is nothing more than a business game of risk-to-premium trading – where clients trade with the insurers to have their risk of a loss transferred to the latter with the latter getting a premium in return. This trading process is heavily dependent on ability and capability of the clients...
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I thought the February / March 2010 CII’s The Journal write-up on the topic: Insurance Pricing was interesting and some eye-opener…. in particularly those relating to the Lloyd’s seven steps to managing the insurance cycle. With fluctuating premiums, varying levels of competition, instability and uncertainty being some common occurrences within our Malaysian insurance market...
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Pardon my ignorance! But seriously…. very few practitioners actually knew about a major change having made to the section 140(1) of  Malaysian Insurance Act 1996 back in March 2009. Let’s revisit relevant subsections of section 140 of the Insurance Act prior to 31st March 2009: Section 140 Insurance Act 1996 – Insurance of property...
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It is an offence to enter Singapore without extending passenger-liability cover to your existing motor insurance policy. In Singapore passenger-liability cover is compulsory but Malaysian motor insurance policy has no auto-extension for such passenger-liability (or liability to passenger). Thus, it is a necessity for Malaysian Insured entering Singapore to extend their motor policy to...
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Since the early 1990′s after the sun had dawn on the now defunct underwriting agency channel and their network of sub-agency, insurance companies had totally discontinued allowing the issuance of policy documents (other than cover notes) by agents. Moreover the Bank Negara then was very much against intermediaries issuing policy and settling claims on behalf of their principal(s)....
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What impact will the new US Executive Order have on piracy in Somalia? (Adapted from an article written on May, 5 by Jai Sharma, director of Casualty & GA Department, Dolphin Maritime and Aviation Services Ltd) In spite of attempts to control piracy off Somalia, it continues to be a major issue for shipowners...
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Judging from the many hits to my previous postings relevant to this topic – 408 hits to blog posting: Difficult buying your Motor Insurance? Try Malaysian Motor Insurance Pool and 271 hits to another: The National Third-Party Bodily Injury Liability Scheme…. jumping the gun or what? within a two and a half months period….....
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