“We are in a gigantic financial asset bubble,” warns Swiss adviser and fund manager Marc Faber. “It could burst any day.” ….doesn’t hesitate to put the blame squarely on President Obama’s big government policies and the Federal Reserve’s risky low-rate policies, which, he says, “penalize the income earners, the savers who save, your parents — why should your parents be forced to speculate in stocks and in real estate
The following are some excerpts from the meeting relevant to the insurance industry:
During the meeting MyCC Chairman, Tan Sri Dato’ Seri Siti Norma Yaakob requested some clarifications by Bank Negara Malaysia (BNM) in relation to banks or insurance companies breaching the Central Bank’s guidelines. BNM clarified that while no financial penalty will be imposed, in such cases, the bank or insurance company found to be in breach will be required to refund the money to the consumer or replace the product. According to BNM, it holds the bank and insurance companies responsible over the actions of their agents.
I stumble on this infograph recently, which I think is useful for readers of Malaysia Insurance Online for this is the tax season of the year. Hope you likewise find this useful…. Courtesy: imoney.my
The 2014 Motor Insurance Premium Rates are out and taking effect as from 15th February 2014. Of course there are increases but I do not foresee the premium increase is going to be damaging to the wallet, rather a soft landing for the rakyat and yet enable both insurers and takaful operators to cash-in on some additional premiums to better cope with the deteriorating trend of our country’s motor insurance losses, if at all the Malaysian Motor Insurance Pool (MMIP) is taken into consideration. And yes, this is the third such increase since 2012….
The Malaysian personal data Act requires those using personal data collected after that 15 November 2013 to comply with the Act. For personal data which has been collected prior to that date, a 3-month leeway is given for compliance. Ten questions needed to be answered as a guide to what’s the next path to undertake.
Breaking News – Personal Data Protection Act enters into force. The Act will enter into force on 15th November 2013 and will introduce an omnibus privacy regime in Malaysia for the first time. In a nutshell the PDPA introduces, among others, seven data protection principles which data users must comply with.