Section 94 and 95 of the RTA 1987 prohibits an insurer from relying on certain terms in an insurance policy for the purposes of excluding liability. On the other hand a term or condition which does not come within the purview of section 94 and 95 may be legitimately relied upon by the insurer for the purposes of excluding liability under the policy when a claim is brought by a third party. The question now is whether Section 91(1)(b) of the RTA 1987 can be legitimately relied upon by the Appellant to exclude liability. The answer to this question lies in section 95(k) of the RTA 1987 itself.
This 2015 tariff premium increase is the 4th of the scheduled increases mooted under the 2011 New Motor Insurance Cover Framework that was established by a Joint Working Committee comprising of Bank Negara, PDRM, Ministry of Health, Judiciary, Malaysian Bar, Ministry of Finance, Insurance & Takaful Industry, Consumer associations and Transport associations. The implementation date is 23 February 2015.
Usage-based Insurance basically utilise telematics data provided by policyholders vide some embedded gadgets in the vehicle or home surroundings to help insurers redefine how premiums are being imposed. The manner the vehicle is being driven or how homes are being monitored or even how policyholder handle their daily affairs where Health Insurance is concerned are important for insurers to better understand the risk as it progresses through time. The starting point of acceptance may still be discounting of premium but safety of love ones and health of policyholders are slowly catching on…. Check the INFOGRAPHIC by Tower Watson in one of their US consumer survey on the use of usage-based insurances….
CAR makers are taking the connected car seriously if examples at the ongoing Paris Motor Show is anything to go by..
From Peugeot to Volvo, new cars come with touch-screens, computers, telematics, sensors, and internet connectivity.
For supporters of connected cars – among them mobile operators and technology companies such as Google and Apple – the future cannot come soon enough.
However, the lifespan of automobiles, unlike mobile phones, is measured in decades, not months. No amount of fancy gadgetry will convince someone who has a new car to upgrade in a hurry.
Most cars on the road today are fitted with an on-board diagnostics, OBD II port, which can spit out a wealth of information about the car’s performance, including distance driven. Plug in a third-party device and it can harvest all that information.
The 44-page report highlights the systematic failure by the government agencies for not assuming full responsibility and exercising the jurisdiction and power accorded to them, details that have been speculated by the public all this while. It was further cemented in strong words by the panel as per item 3.5 of the report entitled ‘Lackadaisical Attitude on Road Safety’: The Panel is deeply….
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….
Malaysian Insurers are now liable for passenger liability in any road accident involving Malaysian vehicle that occurred in Singapore regardless whether a liability to passenger cover is extended or not in the main policy. The Motor Insurers’ Bureau of Singapore (“SMIB”)…