Category: Consumer

Relates to numerous developments within the industry that may have some impact on consumerism. You need to read but need not have to understand fully… meaning read between the lines and then write us a two, three liners.

Life policy owners can no longer be trustees | theSundaily

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. 

The implementation of GST in Malaysia | An inevitable part of insurance

The implementation of GST in Malaysia: inevitable and imminent? Here the write-up by Baker & Mckenzie for reading pleasure. Baker & McKenzie Malaysia June 30 2013 From as far back as 2005, the idea of introducing a Goods and Services…

New enforcement date | Personal Data Protection Act 2010

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…

Issue of foreign students insurance » Agents cry foul over EMGS-AXA link-up

Cardinal rule number 1 is that consumers should be consistently provided with more buying options but yet they are put in a position of limited option or no option at all; usually on the pretext that this “one and only”…

Insurance Premium Refund under Financial Services Act 2013

No doubt about this, in the FSA the refund provision was worded in a manner that policy premium refund is to be paid directly to the policy owner and never under any circumstances be paid or credited to the agent’s account.

We have also underlined the phrase, “….pay directly to a policy owner….” and if read together with the other phrase, “….such refund shall under no circumstances be paid or credited to any insurance agent.”, there is no doubt the FSA has intended to provide no flexibility at all for any possible interpretation…. including allowing the policy owner to sign a declaration to assign the policy refund to the agent…. with intention to strengthen policy owner protection.






Your Rights As A Motor Vehicle Passenger Under Road Traffic Act 1987 Section 91(1)

all pretty girls passengers

Rewriting Our Private Car Insurance Policy In The Era Of Plain Language Policy Wordings I have to say, “All of us are passengers…. either at this very moment or sometimes in the near future”, but how much do you know…

2013 Motor Insurance Premium Rates | What has increased?

The 2013 Motor Insurance Premium Rates are out and 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 enables both insurers…

Can I explain the Genneva Gold issues?

This posting has nothing to do with insurance but nevertheless is on personal investing and finance matters. The Genneva Gold raid On the 1st of October 2012, Genneva Gold was raided by both the authorities in Malaysia and Singapore for…

Motor Insurance Claim | Accident or Reckless Collision?

A collision but not an accident? This is gonna be a landmark case for Singapore and maybe even for Malaysia. If you had already forgotten about the recent May 12, 2012  accident where Mr. Ma Chi was alleged to had…

Insurance policy premium refund ala Malaysian?

Getting a policy premium refund? All policy premium refunds belong to policyholders and rightfully any return in premium goes directly back to them unless they provide the insurance principal an official letter witnessed by a (at least) commissioner of oath…