Category: Grapevine

The twists and turns of the industry…. but there is always something for everyone.

Doctrine Of Contra – Proferentem In Contracts Law

The need for interpreting a contract can arise in two situations. Firstly, if the Judge or Arbitrator is of that opinion that “a gap is needed to be filled” in order to interpret the Contract and secondly, if she/he believes that “an ambiguity is needed to be resolved” in order to find the correct intention of the contract. The Doctrine of Contra Proferentem is generally applied by the Judges in the later case where a contract appears ambiguous to them. With the passage of time, the Judges have started appreciating the significance

German insurance company held orgy to reward its agents

A German insurance company decided to reward the success of its sales staff in a rather unusual way – with a prostitute-filled orgy. ‘The women wore red and yellow wrist bands. One lot were hostesses, the others would fulfil your every wish. ‘There were also women with white wrist bands. They were reserved for board members and the very best sales reps….

Latest on PDPA | Malaysia’s Personal Data Protection Act 2010

PDPA insurance

Malaysia has come a long way to finally pass and implement the PDPA after a wait of more than a decade. The PDPA has commercially far-reaching implications and severe penalties in the event of non-compliance. The intent of the PDPA is not to inhibit business but to grow it by giving consumers confidence that their personal data will be protected. Errant data users should bear in mind that it is no longer “business as usual”….

Malaysia ranks 9th in the world with 882 Million Dollar Roundtable members | Life Insurance

MDRT Malaysia has over the years created various channels of improvement for the life agency force and financial advisors nationwide such as mentoring programme, development supporting programme for agents to soar for the MDRT recognition, MDRT Network Channel for MDRT members nationwide to communicate as well as share information and….

Lantern Festival Full-Moon Insurance for Holiday | Malaysia Insurance Online sells

The Mid Autumn Festival, which falls on Sept. 19 this year, is one of Greater China’s biggest holidays and features a lantern festival, the exchange of mooncakes and dining with family and friends while gazing at the harvest moon.

To ensure the holiday is an auspicious one this year, residents of three cities—Shanghai, Guangzhou and Shenzhen — can buy insurance online for 20 yuan (about US$3) and be compensated for up to 50 yuan if clouds obscure moon-viewing between 8 p.m. and 12 a.m. on Sept. 19.

The implementation of GST in Malaysia | An inevitable part of insurance

The implementation of GST in Malaysia: inevitable and imminent? Here the write-up by Baker & Mckenzie for reading pleasure. Baker & McKenzie Malaysia June 30 2013 From as far back as 2005, the idea of introducing a Goods and Services…

The Press Metal Effect | the underwriting sides of things

The recent RM150 million claim on machinery breakdown and machinery breakdown loss of profit was another eye opener, especially for the underwriting fraternity and those that involved with reinsurance. The following are some snapshots that may be of interest to…

Hong Kong Insurance Industry, A Globalised Deal

It was an experience writing my thoughts while on the plane about to enter into the “jerebu” (aka haze) of Kuala Lumpur. I thought to myself, what did I achieve over the last couple of days running around in Victoria…

MAA Group: What’s that issue with arbitration against Zurich Insurance?

Got to read the following article in The Sun News, where MAA Group has filed for arbitration for a dispute with Zurich Insurance – what exactly is the dispute (other than the amount being RM131 million) was not made known,…

Buzz around the Malaysian insurance industry

We work in the insurance industry where at times rumours and hearsay may travel faster than our pace at work; of course we get the buzz coming from our grapevine, some being rumours and hearsay, but some are definite news…