Category: Insurance Coverage

Insurance covers concerning Property and Pecuniary classes

Aviation Legal Liability | Airline Will Not Escape Liability if Act of War Caused Crash

Pray For MH17

Officials say 283 passengers and 15 crew members died when the flight crashed in Ukraine near the Russian border on Thursday. So far, there is no evidence that the aircraft malfunctioned; officials say it was brought down by a Russian-made antiaircraft missile. But according to the Montreal Convention, a 1999 international treaty that governs airline liability and compensation for the victims of air disasters, Malaysia Airlines is liable, regardless of whether it is at fault for the crash. Airlines do not have to pay for damaged cargo if it’s damaged in an act of war. But in the case of death or injury to passengers, the aircraft carrier can be held liable for up to 113,100 Special Drawing Rights, an updating, weighted average of convertible currencies.

How an Act of Aggression Complicates Insurance Questions for Malaysia Airlines

The key issue is whether the shoot-down of a civilian airliner over an area where there is a conflict but no official declaration of war will trigger aviation insurance policies’ “wartime exclusion” clauses. Such clauses are written into almost every insurance policy of a costly, high-tech airliner such as the 777-200, and they mandate that the insurance companies underwriting the aircraft won’t be liable if an act of war or terrorism destroys the plane.






Know Your Fire Insurance Cover | On Bush and Lalang Fire

Bush or Lalang fire. In consideration of an additional premium, the Company hereby agree and declare that notwithstanding anything to the contrary contained in Condition 8(i) of the Policy, the insurance is extended under Item No………… to cover loss or damage caused by bush/lalang fire (provided that during the currency of this Policy every reasonable effort shall be made to keep the Insured’s ground free from lalang and undergrowth). Subject otherwise to the terms and conditions of the policy.






MH370 Insurance settlement for loss of airplane

This is the latest development in regards to the insurance settlement of the loss of jet plane, Boeing 777 – 200ER. We understood from the market that the jet (also referred to as the Hull in the insurance sense) is insured on a Hull All Risks basis for USD100 million, which usually is on an agreed value basis. Of course, in addition to this Hull’s sum assured there are others, like legal liability to third-party including passengers, personal injury, medical related expenses, cargo and mail legal liability, baggage & personal effects, premises, hangar-keeper & product liability. … all of these categories are subject to a combined single limit, which we think should be in the region of USD420 million. In addition too Hull War risks are covered to an agreed value similar to the Hull value, i.e. USD100 million. To sum all these sum assureds up, we should get:






The Insurance Of Life | Inflation Kills

Today I read an article on Malaysia Kini where a health insurance policyholder lamented over why insurer has to be so divisive over various treatment options; one that requires hospital admission and one being on outpatient basis. If the policyholder…

Sanction & Limitation Exclusion Clauses | main reason for failure to get reinsurance?

The following article concerns the much debated sanction clause and how the global reinsurance industry has applied this to effect where incorporating sanction limitation and exclusion clause is mandatory for all insurance policies issued to policyholders. The response towards the…

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….






The Technical sides of Double-Insurance and Contribution in Marine Cargo Insurance

Marine insurance is one of indemnity, therefore the Insured is to be placed in the same financial position they were in prior to the loss. They cannot therefore claim for the same loss under their global programme. Depending upon the language of the policy, it is likely the Insured is covered on a contingent basis (i.e. buyers or sellers….






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.