Category: Insurance Practices

Managing the insurance cycle the Lloyd’s way

I thought the February / March 2010 CII’s The Journal write-up on the topic: Insurance Pricing was interesting and some eye-opener…. in particularly those relating to the Lloyd’s seven steps to managing the insurance cycle. With fluctuating premiums, varying levels…

Labuan Captive Insurer…… from reinsurance captive to fronting insurer?

Labuan Offshore Financial Services

Pardon my ignorance! But seriously…. very few practitioners actually knew about a major change having made to the section 140(1) of  Malaysian Insurance Act 1996 back in March 2009. Let’s revisit relevant subsections of section 140 of the Insurance Act…

Driving your Motor Vehicle into Singapore?

It is an offence to enter Singapore without extending passenger-liability cover to your existing motor insurance policy. In Singapore passenger-liability cover is compulsory but Malaysian motor insurance policy has no auto-extension for such passenger-liability (or liability to passenger). Thus, it…

Can an insurance agent issue policy on behalf of the insurer?

insurance policy issuance by agents

Since the early 1990’s after the sun had dawn on the now defunct underwriting agency channel and their network of sub-agency, insurance companies had totally discontinued allowing the issuance of policy documents (other than cover notes) by agents. Moreover the Bank Negara then was…

Piracy update – Effect of US Executive Order on ransom payment

What impact will the new US Executive Order have on piracy in Somalia? (Adapted from an article written on May, 5 by Jai Sharma, director of Casualty & GA Department, Dolphin Maritime and Aviation Services Ltd) In spite of attempts…

The New Motor Insurance Cover – taking a glimpse……..

Judging from the many hits to my previous postings relevant to this topic – 408 hits to blog posting: Difficult buying your Motor Insurance? Try Malaysian Motor Insurance Pool and 271 hits to another: The National Third-Party Bodily Injury Liability…

Stupidity from the past…. A perpetual-Permanent Loss of Licence QS with an asshole lady in front!

During today’s drinking session, my reinsurer friend lamented to me as to how stupid those practitioners (the insurer perspectives) from the past could have been, for having accepted a share of the Permanent Loss of Licence (LOL), and worst…… they…

Punching holes through the Underwriting Guide

Underwriting Guides are put in place to assist users to discharge their day-to-day underwriting functions that they were authorised to handle. It amazes you as to how users actually view their underwriting guide – from following it as a regime…

The facultative reinsurance placement….. subjectivity that can be a pain for the undiscerned

It is not uncommon for (re)insurers to accept a share of any facultative placement by attaching their written share with some subjectivity…. You may want to call them “administrative booby-traps” – they are, factly depending on how those wordings were…

Is your Performance Bond portfolio measuring up to a Judicial’s under-cut swing?

Judges are people who can make or break an organisation or perhaps make some scurrying for a solution….  Sometimes they manufacture decisions that are so damned structural but yet defying the layman simplicities,ie. a straightforward interpretation of sentences and words.…