Motor vehicle collision…. ever thought of underwriting third party insurance on motorcycle? What about increasing the private car comprehensive motor insurance premium – by way of more loading? Will the motor insurance premium takes a dive when the motor segment of…
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.
Many associations commonly collect and disseminate industry data and statistics for their members. Where such information is commercially sensitive (for example, information on retail sales and market shares of members) and is disaggregated such that they can be easily attributed to specific members, competition law issues are likely to arise as such dissemination reduces the uncertainty that would normally exist
Malaysia has come a long way to finally pass and implement the PDPA after a wait of more than a decade. The PDPA has commercially far-reaching implications and severe penalties in the event of non-compliance. The intent of the PDPA is not to inhibit business but to grow it by giving consumers confidence that their personal data will be protected. Errant data users should bear in mind that it is no longer “business as usual”….
Under the new FSA, policy owner can no longer appoint himself/herself as the trustee of the policy moneys. In the event no trustee is appointed, the beneficiary (or nominee) who is competent to contract will be the trustee. If the beneficiary is incompetent to contract, the parent(s) of the incompetent beneficiary (other than the policy owner) will be the trustee. Only when there is no surviving parent of the incompetent beneficiary, the Public Trustee will then be appointed.
New enforcement date of the Personal Data Protection Act 2010 has just been announced and it is 16 August 2013. This was as reported by Baker & McKenzie | »Announcements have been made by YB Dato’ Sri Ahmad Shabery bin…