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.

2014 Motor Insurance Premium | Malaysia Insurance Online

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….

Personal Data Protection Act 2010 | Compliant Already?

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.






Personal Data Protection Act Enforcement | 15 November 2013

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.






Competition law update | A Stronger Grip On Associations

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






Latest on PDPA | Malaysia’s Personal Data Protection Act 2010

PDPA insurance

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”….






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.