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...
Read more »
FM stands for Factory Mutual - basically FM is a mutual insurance company with headquarter in Johnston, R.I., US. Globally, FM is known as FM Global, to some, it’s FMG. I have came across the FM Global’s Industrial All Risks’ (IAR) wordings (the Large & Specialised Risks’ (LSR) version) throughout the last three years,...
Read more »
Having sat in numerous meetings involving discussions on subjects relating to Risk-based Capital (RBC) and Risk Management & Compliance (mainly to do with the BNM’s directive in respect of JPI/GPI 22) I noticed people having differing understanding and opinion when articulating the subject concerning “fronting” a risk. In this blog I am not...
Read more »
Risk-based Capital (RBC) framework has taken effect since 1st Jan 2009. With all Captive insurers (“Captives”) registered under the Offshore Insurance Act (OIA, 1990) having no approved financial strength rating (fsr), it is difficult to see how “Captives” can generate interest among the (re)insurers operating in the country especially to provide a fronting platform for the...
Read more »
Just in case we missed this piece of recent news – Labuan International Business and Financial Centre (IBFC) is looking towards developing the world first set of guidelines on syariah-compliant captive insurance. Kudos! Another First for Malaysia…..can’t say of the implementation though. Before we move forward best if we run through some of the...
Read more »
Top List
Click Here!
Malaysia Insurance Online is Digg proof thanks to caching by WP Super Cache
Twitter
Project MIIA
RSS
Technorati