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.

Valentine Day | Marrying… consider some marriage-support insurance

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Happy Valentine Day…. and wondering what to write about the occasion. Oh! yes… we are not going to get ourselves embroil in the recent fatwa (or edict) concerning “Mind the Valentine’s Day Trap”… Perhaps it is good if we revisit…

Personal Data Protection Act 2010 | Getting the insurance industry to order

Personal Data Protection Act 2010

The Malaysian Personal Data Protection Act (PDPA) was gazetted sometimes on the 10th June 2010 and has since been a subject of intense discussion amongst the insurance practitioners and community – something that many of us would want to talk…

Writing for the Money | Insurance Articles

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Blogging for the money is normal and that’s include monetising your blog and so on, but writing for the insurance association (aka Persatuam Insurance Am [PIAM] or Life Insurance Association of Malaysia [LIAM]) for money is something else. During my…

Saving on Service Tax | Your Insurance Policy

service tax 2011

Just received news concerning the new service tax application – mainly to do with the timing and cut-off date relevant to the transition process, from the existing rate of 5% to 6%. On December 2nd, 2010 the Ministry of Finance…

Frustration when buying motor insurance?

Over the past months, I had quite a number of people calling (including emailing) me for information as to how and where to buy insurance for their motor insurance online. Many were complaining of the very expensive premiums that they…

Pay up the 1% extra service tax on your insurance premium….

[ad name=”Google Adsense”] Come 1st January 2011 if you own a business you would be required to pay an extra 1% of the premium as service tax. This means an additional RM40 million in service taxes to the government coffer.…

Third Party Bodily Injury NewCo | Miscarriaged without clarity?

travelling together but MINDs apart!

  The original idea to have the third party bodily injury and death (TPBID) section taken off the current motor insurance policy coverage and place them under the New Company (NewCo) is now no longer a good one. This idea…

Top 5 things you should know |Introducing New General Insurance and Takaful Products

It took me quite awhile to finalise a review of Central Bank (BNM)’s BNM/RH/GL 010-14 “Guidelines on Introduction of New Products for Insurance Companies and Takaful Operators”. Procrastinating, perhaps! Anyway, I must say it, “Guidelines were badly written….” and the…

Service Tax on Insurance for Management Corporation

A number of readers wrote in ranting over the issues of service tax applicable on insurance premium for policies issued in the name of Management Corporation (MC) and Joint Management Body (JMB). Some were complaining over inconsistencies adopted by the…

The advantage of Death & Pension annuities

Malaysian normally do not think much about annuities, not to mention buying one for their golden years. There are better investment options than investing in an annuity just for the sake of living too long! Some seemingly dull topic here….…