Author: malaysiainsurance

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

Insurers Liable for Late Payment of Claims

From today, 4th May 2017, the Enterprise Act 2016 (“the Act”) comes into force in the UK. All insurance policies that are issued, or renewed, from today and that are subject to English law and practice will be subject to the…

Proposed changes affecting the transfer of personal data outside Malaysia

The Malaysian Personal Data Protection Act 2010 (“the Act”) places restrictions on the transfer of personal data outside Malaysia unless it is: to a jurisdiction which has been approved under Section 129(1); or one of the conditions set out in…

20 Things the Most Respected Bosses Do Everyday

Think about the best boss you’ve ever known. Here are 20 things I’ll bet he or she never stopped doing.  By Bill Murphy Jr.  @BillMurphyJr  CREDIT: Getty Images Think about the best boss you’ve ever had. Maybe you’re fortunate, and we’re…

General insurance premium set to go up from April 1

By PTI | Updated: Mar 26, 2017, 07.55 PM IST This is an India thing but it makes good reading considering Malaysia is also implementing the detariffication of our Motor and Fire insurance tariff. India regulators imposed  +/-5% and Malaysia is on a…

Ng Keng Hooi makes Malaysian corporate history

BY DALJIT DHESI   Ng Keng Hooi (pic) made headlines when he became the first Malaysian to helm an international financial services group. He was recently picked to succeed Mark Tucker, another global insurance vateran, as group chief executive and president…

A disruptive ride coming up for the insurance industry 

Legislating and legalising e-hailing 
This means an official nod for Uber and Grab….expected to be gazetted on 1 April, this also mean the need to have the motor insurance policy extended for passengers cover while on e-hailing. This brings some excitement for the GI industry for more premium to be collected from this extension (that’s what we all thought). ….that’s not going to happen….






Passenger Rights come to Asia: an overview of the Malaysian Aviation Consumer Protection Code 2015

Clyde & Co LLP Malaysia March 3 2017 The Malaysian Aviation Commission (“the Commission”), an independent adviser to the Malaysian Ministry of Transport, recently established the Malaysian Aviation Consumer Protection Code 2015 (“the Code”) to protect passengers’ rights in Malaysia. The…

And so I kept quiet?

I find this interesting read for the morning…. No, I am not a politician just a blogger, also not one who agrees with what the writer says here. No particular race or person is the issue or they being part…

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.