Category: Motor Insurance

Protected: The ISM-NCD enhancement like “Killing us softly with his song”!

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Insuring the Trailers – according to the tariff

It is mind boggling with the tariff section relevant to TRAILERS. It is very difficult for the Insured to ensure that the insurer insuring their prime mover (“Vehicle”) and the trailer attaching to it must be the same. What if…

The Pos M’sia factor… Political or Insurers’ own doing?

All insurers writing non-life insurance business in Malaysia are required to take up share in the Malaysia High Risks (unplaced) Motor Pool, now named as Malaysia Motor Insurance Pool (MMIP) during its formative stages; back in 1992. The shares are…

The new No Claims Discount (NCD) Mantra

This may or may not be good news for all…. When ISM-NCD system was implemented in 2007, the operating framework was nothing but on a parallel run; one leg with IT platform and the other leg with the usual manual…

Thinking of reconceptualising ISM-NCD database submission?

While reviewing my previous write-up: ISM_NCD system & the future of it….felt something might have crawled into my brain cells….Yep! I think my brain cells are still functioning….after some heavy drinking session! While in the previous write-up, I may have written…

Preparing Agents for De-tariffication

I read your blogs with written topics concerning the readiness of our agency force with interest. We can refresh with the following blog materials: How agents are preparing for mandatory motor rebate The growing pains of direct rebating Having been…

A new Motor insurance POOL for old motor vehicles?

Click to read:  Premium Tambahan Kereta Lama I am not sure whether our industry is having too many spoke-persons, our Deputy Finance minister, Datuk Chor on 6th June told the press  that the government would be setting up a motor insurance…

Pos Malaysia to dispense Motor Insurance for Malaysia Motor Pool

I am not sure whether this is going to be a reality, ie. the Malaysia Motor Insurance Pool (MMIP) has appointed POS Malaysia to help issue cover for vehicles aged > 10 years citing the public is having difficulties in renewing…

Why can’t we insure trailers on standalone basis?

According to the Malaysian Motor Tariff section 6 (Commercial tariff), trailers may not be insured separately. But no one seems to know exactly what this phrase, “…may not be insured separately.” Is this to do with trailer and prime-mover must…

The growing pains of direct premium rebating….

Today the final blow was delivered where the word “members” of Clause 5.3 Inter-Company Agreement (ICA) was deleted after unanimously agreed upon.  This means agents and brokers cannot rebate where insurers are able to; signifying a divergence of focus between…