Category: Intermediary

MyEG Services in “www.myeg.com.my” insurance venture, a path less travelled…

MyEG.com.my

In recent days, My E.G. Commerce Sdn Bhd (including MyEG Services Berhad) and their insurance principals are consistently lambasted with complaints coming from other insurers. Most cited the blatant breach or disregard the existence of General Regulation 33 of the Motor Tariff, Guideline on…

Referral Risks and Declined Risks…. What are these?

Your boss gave you a list containing “Referral or Referred” risks 😕 with specific instruction that your agents cannot accept them but to make referral to you. You would have to assess whether you have the authority to accept such…

Continuous Professional Development (CPD) Guidelines for General Insurance Agents & Staff of Bancassurance Partners – Keeping it simple

lim bee yan

It has been more than 4 years since the guidelines were introduced on 1/1/2005 but it has hardly changed…… 🙄 It has been more than 4 years since the guidelines were introduced on 1/1/2005 but it has hardly changed discounting…

The Pos M’sia factor… Political or Insurers’ own doing?

All insurers writing non-life insurance business in Malaysia are required to take up share in the Malaysia High Risks (unplaced) Motor Pool, now named as Malaysia Motor Insurance Pool (MMIP) during its formative stages; back in 1992. The shares are…

Preparing Agents for De-tariffication

I read your blogs with written topics concerning the readiness of our agency force with interest. We can refresh with the following blog materials: How agents are preparing for mandatory motor rebate The growing pains of direct rebating Having been…

Hello! Anyone removing Clause 5.3?

insurance rebate

We have written in our previous post on June 22nd – The growing pains of direct premium rebating…… Looks like no one seems to notice the importance of doing away with Clause 5.3 of the Inter-company agreement on General Insurance…

Pos Malaysia to dispense Motor Insurance for Malaysia Motor Pool

I am not sure whether this is going to be a reality, ie. the Malaysia Motor Insurance Pool (MMIP) has appointed POS Malaysia to help issue cover for vehicles aged > 10 years citing the public is having difficulties in renewing…

The growing pains of direct premium rebating….

Today the final blow was delivered where the word “members” of Clause 5.3 Inter-Company Agreement (ICA) was deleted after unanimously agreed upon.  This means agents and brokers cannot rebate where insurers are able to; signifying a divergence of focus between…

How agents are preparing for the motor mandatory rebate…..

The last time I wrote, the main issue is on PIAM trying to either delete clause 5.3 of the Inter-company agreement on General Insurance Business or to delete off the word “member” from the said clause. After much deliberation and…