Author: malaysiainsurance

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

Regulations to revamp Malaysia’s life sector (A Zurich viewpoint) 

By Monira Matin Malaysia’s life insurance industry, traditionally dominated by agency business, is set to see “rapid changes” once the country brings wide-ranging regulatory measures, according to Philip Smith, chief executive of Zurich Malaysia Bhd. The insurance regulator Bank Negara Malaysia…

MyCC’s Proposed Decision Against PIAM and its 22 Members

As announced by the Bank in 2016, measures are currently being taken by the Bank to implement broad reforms in the motor insurance market, which includes the gradual liberalization of the motor insurance tariffs. This aims to promote a more competitive motor insurance market, while ensuring affordable motor insurance premiums in the long term.  Without appropriate arrangements to control inflated and fraudulent claims which are being addressed as part of the reforms, these objectives will be severely undermined. 






MyCC ISSUED A PROPOSED DECISION AGAINST PIAM AND ITS 22 MEMBERS

Not a good week for the General Insurance industry…. The following PRESS STATEMENT by MyCC said it all! The following is the extract of the Press release: PRESS STATEMENT MyCC ISSUED A PROPOSED DECISION AGAINST PIAM AND ITS 22 MEMBERS…

Protected: Weekend Insurance Talk

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A Period Of Silence Or Blackout Before Premium Rates Change On 1st July 2017

The General Insurance industry is slowly changing (although we may not have noticed those changes) in the face of the liberalisation roadmap for motor and fire insurance practices; a “Roadmap” dedicated by regulators towards building a more modern and robust…

Messy People: How Disorder Can Contribute to Success

​This has nothing to do with insurance but being a messy person that I am, this seems to be a piece of good news, the very reason why this is posted here….  MIC LISTEN TO THE PODCAST: Author Tim Harford explains…

LTA to stop issuing physical road tax discs from 15 February 2017

BY NEYLA ZANNIA ON FEBRUARY 9, 2017   This writeup is from Singapore, although not applicable for Malaysian vehicles but it is good to know in case insurers need to resolve some claim settlements. Land Transport Authority (LTA) has reminded the public…

10 Years of De-Tariffication in India

This article was written by one, Ayush Jain to mark the 10th year of detariffication of the non-life insurance in India, quite timely though if we read this from the Malaysian perspective…. Ironically, despite suffering bad underwriting results year in…

Malaysian courts continue to give effect to arbitration agreements

Shanghai All Green Environmental Engineering demonstrates the Malaysian courts continued attempts to give effect to arbitration agreements and to discount attempts to renege on agreements to arbitrate by relying on technical objections.






What to expect in 2017…. | the General Insurance perspectives 

The General Insurance landscape is changing for sure and expected to be more prominent in 2017, although we don’t see this happening much since the start of the initial detariffication phase on 1st July 2016. What would be those prominent…