Share New Motor Insurance Premium Framework | How are your motor insurance premium computed and How much more are you going to pay for your motor insurance in 2012? Get the answers here…. In case you do not know, starting this 16th January 2012 the Malaysian Insurance industry will be imposing some small increases to your existing motor insurance premium. These prescribed increases are applicable for the year 2012 but with gradual increases till 2016 when...
Share This posting is about Legal Liability to Passengers (LLP) or in simple term, “Passenger Liability” – talks about what’s being covered and what’s not, including the insurers’ obligation under the Road Transport Act (RTA) to cover passenger liability in identified situation and circumstances. When I first wrote a posting on Passenger liability: Your kids are not covered……. a year ago little did I know there would be more than 1,600 over hits on...
Share National Motor Insurance Assists for all to be set up under the New National Motor Insurance Framework? Setting up a National Motor Insurance Claims Assists Center for the purpose of providing prompt services immediately at the time of accident…. Perhaps this is a great idea or maybe just something the industry needs to do to get some small increases in Motor Insurance premium come 2012? Couple of days ago Telekom Malaysia made a presentation to...
Share Letters to the EDITOR @ New Straits Times I read the following letter with interest, therefore I have to put in some comments…. The following are some main pointers we can zoom into: The policy was cancelled with forged authorisation and the party who did it has no reason doing so…. that’s what was being perceived…. No notification was ever served on Pragasam before the cancellation but is this because the “last known...
Share How To Determine The Market Value of Your Motor Vehicle For Insurance? Check no further…. read this; it is from the Central Bank, The Consumer & Market Conduct Department…. Insurers and Takaful operators must ensure that they (including their agency channel) provide the necessary market value advisory services in respect of advising their customers (those within the CONSUMERS category) on the correct value to insure. Customers should be given the necessary advices along...
Share A Podcasting Affair On DurianFM.com….. “Not For Anyone” It is not everyday you get to share your views LIVE over the radio – sharing the various tips and matters of interest with the public on thing concerning insurance…. insurance talk to be exact. Of course we did stray out of the main topics, but that’s according to desire (or was it whim and fancy….) of our host, Andrew Chia the MONEY MAN. Talking...
Share ROLLING OUT THE 1st MAY INITIATIVES In a recent meeting between Central Bank (aka Bank Negara) and industry (both conventional insurers and takasul operators) officials, Central Bank has directed the industry to make necessary preparation for a 1st May 2011 roll-out of the framework implementation…. which is a surprise considering earlier on, the implementation date was set on 1st Jan 2012. Accordingly, this 1st May roll-out is more of a prelude to the...
Share Noticed from the traffic search for “Malaysian Motor Insurance Pool” of “MMIP” has grown substantially over the last couple of months… A total of approximately 8,000 page views over the last 8 months was observed. I thought it would be good if we upload the full documents in PDF version for easy viewing. Click and download as many times as you wish, and ……………. if there is a need to seek our opinions...
Share PROPOSED NEW MOTOR COVER FRAMEWORK — An extraction from the recent CONSULTATION SESSION WITH INSURANCE & TAKAFUL INDUSTRY on 23rd February 2011 This new motor framework was structured very much differently from the earlier version (refer to Fig 1 below for the outline of the OLD SCHEME) – the following are glaring enough for special mention here: 1. The new company (NewCo) supposedly to take over the unprofitable Act portion of the existing...
Share Today is Christmas Eve and I am staring blank into my notebook’s screen….. and I am on leave currently – taking leave from the hustle and bustle of everyday life only to be inspired working on a Christmas-blog! Stucked along the way… I played with some WordPress -related plugins, and discovered “snow storm” by Tribulant.com – you don’t see much of a snow storm anyway but snowflakes coming down this blogsite. Didn’t you...
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