Author: malaysiainsurance

Free-form insurance blogging - anything on earth.... maybe outer space but that's necessarily on and about insurance

Trust Re to leave Labuan, Malaysia and to centralise its operations in Bahrain

Trust Re has announced its strategic plans to centralise all its activities at its head office in Bahrain. The company now looks to implement its restructured operational model which focuses on profitability, cost management and maximising its core strengths. As…

How our insurance regulator responds to covid-19

Part extracted from https://www.vantageasia.com/regional-insurance-regulators-covid-19/ In the wake of the covid-19 pandemic, insurance regulators across the Asia-Pacific have taken measures to provide relief to the insurance sector – both for insurance companies and their customers. Almost all jurisdictions have urged companies…

Is Covid-19 protection gap a big concern for insurers?

The economic impact of Covid-19 (coronavirus) is clearly going to be significant, with global growth in GDP for 2020 now expected, at best, to be only half that of the 3% originally anticipated. Relative to the $86.5trn global GDP for…

E-hailing company’s liability in accidents

In Tea Chew Chin v Grabcar Sdn Bhd & Ors (Sessions Court Suit No. JA-A53KJ-610-10/2018), the Plaintiff was injured when the Grabcar driven by the 2nd Defendant and owned by the 3rd Defendant was involved in an accident. The Plaintiff claims that Grabcar was…

Bank Negara: Make motor insurance payouts quicker, less painful with reforms.

BY IDA LIM Bank Negara suggested that there is room to revamp the entire accident and motor claims process. KUALA LUMPUR, April 3 — Malaysian motorists could have an easier and quicker process to claim for motor insurance payouts if…

Persuasive Selling in WIIFM

Things that I have learned today…. What’s WIIFM? Simply means What’s In It For Me? There are 5 main things you will need to grasp in persuasive selling: 1. You 2. Free…. samples 3. New…. latest 4. Now…. don’t procrastinate,…

Where IFRS17 and IFRS9 intersect

Eve Pastor reports on the interaction between IFRS17 and IFRS9, and its implications for asset liability management, valuation and financial reporting At the Actuary: https://www.theactuary.com/features/2019/06/where-standards-intersect/ Insurers will see a new era of financial reporting ushered in on 1 January 2022.…

The ‘Agreed value’ mystery

Written by: R Balasundaram @ https://balasbroadcast-wordpress-com.cdn.ampproject.org/c/s/balasbroadcast.wordpress.com/2020/03/08/the-agreed-value-mystery/amp/ Any insurance beginner who has learnt it in theory or a seasoned marine insurance practitioner will tell you, or rather it will roll off the lips nonchalantly that Marine cargo insurance is an ‘Agreed…

IFRS 17 success: How to ensure a strong foundation | Insurance Business

The following is an opinion article by Ambreesh Khanna, group vice president and general manager of Oracle Financial Services Analytical Applications. The views expressed within the article are not necessarily reflective of those of Insurance Business. Many thanks to INSURANCE…

Top reinsurers’ exposure to Wuhan coronavirus

Top reinsurers’ exposure to Wuhan coronavirus, Asia pandemic analysed With official numbers of the Wuhan coronavirus currently standing at 585 confirmed infected and 17 dead, Morgan Stanley analysts have detailed the extent to which the top four global reinsurers are…