Posts Tagged ‘ Motor Insurance Matters ’

What is passenger liability cover in your private vehicle insurance policy? It simply means coverage for you in the event your passenger(s) sue you or your authorised driver for having driven the car negligently, resulting in bodily injury, death or property damage. Passenger liability is therefore also known as legal liability to passengers. Simple...
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Today and Yesterday… learned (or rather forced to) some hard facts, this BLOGGING thingy cannot be as easy as ABCs. First you have to know what to write, then you need to check if you have got the facts and the grammars correctly in place, check if the tech aspects of the blog have...
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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 2009, the Malaysian non-life insurance industry had resolved to provide MANDATORY discount on all motor insurance purchased directly from the insurers – the scheme of discounting was such that it would be 5% for the first year of implementation and thereafter at 10%.  Thus, come 1st July 2010 and onwards all Malaysian non-life...
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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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The deadline for submitting your protest or suggestions or even arguments over the proposed TPBID mandatory (Newco) scheme is already over. The government has decided, and the new basic third party insurance policy will be sold nationwide come Jan next year….This basic third party policy is the minimum insurance version that insurers would be...
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Last week I made a presentation in regards the topic on making underwriting-sense of the industry’s motor insurance portfolio… in which I mentioned this commonly used phrase, “It is difficult to teach old dogs new tricks!” with a view to answer various objections from members of the marketing & underwriting fraternity and the agency...
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Which is better…. Risk-based rating, existing tariff rating with permitted Bank Negara’s loading & excess or doing away with existing tariff?  I really do not know. If the industry was to advocate risk-based, our politicians and consumers alike would be making a whoa…and..a ha… over it. If we were to enforce the tariff together...
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