The General Insurance/Takaful Industry have agreed to reclassify PA/Misc. insurances that are tagged/marketed together with Motor Insurance as Motor Product under the paragraph 2.2 of the Phased Liberalisation of Motor/Fire Tariffs. Products like Passenger PA (whether as a package with other miscellaneous coverage or otherwise) and standalone Misc. Accident package tied to Motor Insurance (like the Enhanced Road Warrior) must now be of the Motor class and financially reported as part of the Motor “Others” or Non-Act.
In the aftermath of the riot and /or malicious damage occurrence at Low Yat Plaza on the 12th July 2015, the public was wondering what could have gone wrong – there were numerous versions as to what having caused such an untoward event to happen – perhaps it was the petty theft incidence or was it about the merchant having cheated the customer by selling a cloned phone for a genuine version, or this was triggered by a group of political trolls, maybe thugs? Additional questions? Of course, we are looking at this from the insurance angle….
Was this event a riot to begin with?
If the first and the second innovation of the technology revolution liberated the human strength, the physical strength, this revolution liberate the strength of human brain —- the future world will be connected by data, instead of oil or other things. It is not about how the internet connects business to consumers but rather how the use of big data helps business customise their offerings according to the needs of the consumers. Ma said that the key for Internet companies to surviving and enjoying long and prosperous lives would depend on how well they work together with traditional brick-and-mortar companies.