Category: Insurance Coverage

Insurance covers concerning Property and Pecuniary classes

Practice Notes 00002 of 2017 on Motor Insurance Detariff Do’s and Don’ts

The Practice Note dated 20th June 2017 that contains the Regulator’s latest FAQs was certainly not anything good for the Non Life industry, definitely not when Hari Raya is just around the corner. It has caused significant disruption for the…

Telematics Drive Reduced-Premium Usage-Based Car Insurance With Upfront Savings

JUNE 15, 2017 10:00 PM EDT SINGAPORE — (Marketwired) Audrey Liu Manager, Brand and Communications Etiqa Insurance Pte. Ltd. Insurance arm of Maybank Group, Etiqa Insurance, has launched an affordable usage-based car insurance ePROTECT sMiles in Singapore, providing 50% premium savings…

Did Uber, Grab drivers lie to claim insurance?

June 9, 2017 Nur Khairah Alegria Suner PETALING JAYA: Syndicates have emerged among drivers of Uber and Grab ride-sharing services to claim insurance by lying about the cause of their vehicle accidents, an association for regular taxi drivers has alleged.…

The truth about job-loss or unemployment insurance

By Devansh Sharma, ECONOMICTIMES.COM | Jun 08, 2017 If you are considering to buy a job-loss cover, read the primer so that you do not end up buying something you did not want. If you are afraid you might be laid off by your…

Financial Technology Enabler Group

The industry should know about this newly established setup….  This is where you need to approach to apply for approval of those so-called Financial industry disruptive IT platform. Check them out. The Financial Technology Enabler Group (FTEG) was established by Bank Negara…

Kidnap and Ransom (K&R) Insurance, an unexpected protection against ransomware attacks

The original article was taken from IndiaTimes…. but something that most underwriters are surprised that ransomware threats are claimable under Kidnap and Ransom policy.  The kidnap policies are typically used by MNCs looking to protect their staff in areas where violence…

Insurers Liable for Late Payment of Claims

From today, 4th May 2017, the Enterprise Act 2016 (“the Act”) comes into force in the UK. All insurance policies that are issued, or renewed, from today and that are subject to English law and practice will be subject to the…

Reclassification of PA and Miscellaneous Insurances Tied to or Marketed Together with Motor Insurance

The General Insurance/Takaful Industry have agreed to reclassify PA/Misc. insurances that are tagged/marketed together with Motor Insurance as Motor Product under the paragraph 2.2 of the Phased Liberalisation of Motor/Fire Tariffs. Products like Passenger PA (whether as a package with other miscellaneous coverage or otherwise) and standalone Misc. Accident package tied to Motor Insurance (like the Enhanced Road Warrior) must now be of the Motor class and financially reported as part of the Motor “Others” or Non-Act.






The Post Malaysian GST, An Insurer’s Nightmare? 

After the 1st April 2015’s GST implementation…. perhaps now is the time for the industry to reflect upon what’s next. What’s next is not difficult to guess. The Royal Custom & Excise department is certain to conduct a check if…

The LIAM’s perspective on Sell insurance online

The Life Insurance Association of Malaysia (LIAM) is urging insurance companies to sell their products via online platforms to drive the penetration rate to 75% in 2020 from the current 56%….LIAM president Toi See Jong expressed hope that the companies could establish their own platform by Jan 1, 2017.