The twists and turns of the industry…. but there is always something for everyone.
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 Before we get to the mind-boggling part of mathematics, do you know Sufiah Yusof (Born 1984). Sufiah was recognised as a child prodigy with a talent in mathematics that won her a spot at Oxford reading Mathematics at the age of 13, she somehow found her way into prostitution. And it has to be… she’s connected to Malaysia, not Malaysia Insurance Online though… This is not recent news having heard about Sufiah Yusof...
Share 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 one of our old articles written back in 2008 for Valentine’s Day…. and happy reading. I can’t help but predict that more adult Malaysian will have an affair this year. In the 1987′s...
Share When the peaceful Rabbit hops in on February the 3rd 2011, the world over is looking forward to a year of relative calm and serenity… or is this going to be otherwise; something worst off than the tiger year? The “Gold” metal Tiger was fast and furious – we wrote in our previous posting about some tumultuous moments of 1950, and quite a number of those moments of 1950 repeated one way...
Share Competition Act 2010 – How much do we know about this? How would its enforcement changes the way the insurance industry currently works? This should not be too difficult if we are to think in terms of DETARIFFICATION of our existing tariff, i.e. Fire and Motor. All we need is to start working towards a gradual detariff process, from now till 1st January 2012, the date of enforcement. Of course the authorities are...
Share 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 or Life Insurance Association of Malaysia ) for money is something else. During my early years in this industry it is a norm for people to write articles for the association and doing it for free, or perhaps just to have their name tagged as the author....
Share THE year 2010 marked the final leg of the Financial Sector Masterplan (FSMP) conceived 10 years ago and liberalisation measures are expected to kick in the insurance industry as well as its Islamic equivalent, the takaful sector in 2011. After all, the Competition Act is expected to be enforced in 2012 – detarification is imminent. The Malaysian insurance industry is expected to continue its growth momentum – nothing less than a double digit...
Share Here we are at the very doorsteps of 2011 and a public holiday to go along with the celebration. Today’s holiday was declared by the Prime Minister for the nation to celebrate the Malaysian football team’s one of those rare achievements (We are the champion….) in the recent Asean Football Federation (AFF) Suzuki Cup. Malaysia Insurance Online wishes everyone…. an early HAPPY NEW YEAR 2011. Catching up with Circulars, Notices and Guidelines Taking...
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...
Share Whenever a Malaysia-domiciled enterprise engages a foreign worker, the following types of insurance are compulsory: Foreign Workers’ Insurance Guarantee (or Bond) (FWIG) Foreign Workmen’s Compensation Scheme (FWCS) Foreign Workers’ Health Insurance (taking effect from 01.01.2011) CEO! You may be caught in between and guess what? Without you knowing it! In the context of this posting rather than explaining what these coverage are all about we shall focus on the “…..frolicking...
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