Insurance covers concerning Property and Pecuniary classes
Share Yesterday’s negotiation seeking the amendments of the “Wet Risks” exclusion wordings draw a flak with the lead reinsurers not giving way…. My intention was basically to get them to agree to the characteristics of wet risks which I have outlined in my blog of date 29 August 2009 – reiterating here in the following manner: All “Wet Risks” are defined as follow and are deemed excluded from the treaty coverage: Risks attaching to...
Share Is the project site on or near any water filled environment? What is the percentage of the contract value that is of wet elements? Does the project has any incidental wet elements or is the whole project being a wet risk? Looks like this underwriter is making himself an impediment in the negotiation process. But we just can’t blame him for hassling the broker, agent or client for more information as “Wet risks and Incidental...
Share Funny! Why we ought to have some form of insurance protection for our land…but in Malaysia this is the real fact. With the growing number of land scams and increased value of property involved, serious measures, including protection by the law, are urgently needed to overcome the problem. The direct result of the federal court’s decision in Adorna Properties Sdn Bhd vs Boonsom Booyanit is where a landowner can lose his land eventhough he holds...
Share We have written an article titled “The A H1N1 pandemic…. Is your Health Insurance covering you?” back in June 15 this year describing that AH1N1 is an excluded risk in the Health Insurance policy in any event the government having declared it as disease necessitating quarantine by law. Things may have changed significantly judging from the development of this pandemic as the virus (thought to have originated in Mexico) has found its way...
Share I felt sort of priviledged having experienced underwriting some aviation risks over the last couple of years. So it is a feel good thing for me to pen something about aviation risks…..(by the way, that’s not me!) hopefully getting them in the correct order here! It is good to mention here – Air France disaster compounded by Air Yemeni crash tipped the aviation markets over the edge. “Ambulance-chasers” are pushing up liability claims awards to figures nearing...
Share In Malaysia, foreign registered aircraft can be used only for private purposes, ie. company staff and families. The aircraft cannot be used for hire because the rules said, the aircraft should only be operating where they are registered. Thus if aircrafts are not registered in Malaysia, they cannot be used for hire – can fly to Malaysia, drop off passengers and then leave. Foreign registered planes can be in the country for 6...
Share All basic Personal Accident policies exclude wars (whether declared or otherwise), which means all forms of wars or war-liked operations are not covered. The question is what if you are travelling to a country where there is no war but unfortunately a war like operation was triggered during your stay. You have no part in this ‘sudden’ war just like the case when Bangkok was under seige during a military coup some years back. You...
Share Generally, all Health Insurance in Malaysia cover pandemics and communicable diseases, save when the persons infected are required by the government to be quarantined. Quarantine can be within the confines of the government-designated areas or in the house. By means of the government declaring a need to be quarantine like what happened for this A H1N1 disease (which has already spread to most of the countries around the world) the medical expenses incurred...
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