At the beginning of year 2009, the new ICC Clauses became available to the Market after a two-year consultation process. The overall result has been to create clearer policies that are more favourable to the Assured than the previous 1/1/82 version. The clauses have been amended in places in an effort to make the...
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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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Whenever I met up with agents nowadays, they never failed to complain over decisions that were adopted by the industry recently. Of course, mandatory direct rebate and refusal to write third party cover were some of those but very recently, the agents, especially those writing substantial portfolio of commercial “A” vehicles are again upset over their clients having lost out on NCD...
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It is mind boggling with the tariff section relevant to TRAILERS. It is very difficult for the Insured to ensure that the insurer insuring their prime mover (“Vehicle”) and the trailer attaching to it must be the same. What if the Insured is required to change insurer on renewal in the circumstances that the...
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According to the Malaysian Motor Tariff section 6 (Commercial tariff), trailers may not be insured separately. But no one seems to know exactly what this phrase, “…may not be insured separately.” Is this to do with trailer and prime-mover must not be insured with different insurer? Or Is it about an insurer cannot issue...
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