Category: Insurance Practices

ISM – ABI, a market-valuation connectivity in the waiting?

ISM - ABI

  After Kurnia and ISM announced the ISM – ABI system’s MARKET VALUATION tie-up, which involve integrating Kurnia’s front-end point-of-sales system with ISM – ABI system, my phone(s) were flooded with calls enquiring and query as to why we were…

Is there really FREE Insurance? And who is paying for it?

Some mainstream news portals recently reported FREE Insurance available to customers….. I just can’t help thinking, “Is there such a thing called FREE Insurance?” Just navigate into the page(s) of the Bernama and Business Times news portal, you probably understand…

Underwriting the Risk-Karma

THE NORMAL EYE

I have always wanted to pen something really unconventional… compensating for my equally weird, quacky, quirky life…. I have managed to search out one of those articles (WRITTEN IN THE PAST – last year) to help take me through to…

No Bumpy Ride, but just One Big Hole in between the RETAKAFUL CLAUSE

It is not uncommon nowadays for the conventional Non-Life insurers to trade facultatively (reinsurance) with our brother in trade, the (Re)Takaful Operators. It is also not uncommon either to see our brethen inserting subjectivity in the guise of RETAKAFUL CLAUSE…

FM Global is now a Labuan Offshore Financial Services’ registered reinsurer!

FM Global

FM stands for Factory Mutual – basically FM is a mutual insurance company with headquarter in Johnston, R.I., US. Globally, FM is known as FM Global, to some, it’s FMG. I have came across the FM Global’s Industrial All Risks’…

A relook at Portfolio Management practices in Non-Life Insurance

portfolio loss development

Over the last couple of weeks, again this word, “detariffication” crops up…. and the proposed nationalisation of the Motor Insurance compulsory ACT (third party bodily injury) scheme set to be implemented before end of 2010. Yes! This blog is inclined…

Old vehicles on third party insurance are costing the insurance industry hundreds of millions annually…. but would converting them to comprehensive helps?

buy insurance for old cars

Performance of old vehicles in a nutshell. It is already common knowledge that old vehicles (≥ 15 years category) in the absence of adequate loading on the tariff gross premium are not writable risks, and especially so where more than…

What will insurance consumers face with the recent National Automotive Policy (NAP) review?

Ban on motor vehicle used spare parts

The recent revised National Automative Policy (NAP) has outlined the gradual phase-out of imported used vehicle parts and components. The government has raised concerns over safety and environmental issues from continuing with the practice of importing used parts and components…

Who stole my No Claim Discounts meant for my Trailer?

Whenever I met up with agents nowadays, they never failed to complain over decisions that were adopted by the industry recently. Of course, mandatory direct rebate and refusal to write third party cover were some of those but very recently, the agents, especially those writing substantial…

A little bit and there on insurance-eCommerce under the Breeze….

Hi… I am now in the land below the wind – that’s Sabah, the place I “screwed” (not screwed up though…) for almost 17 years! Or was it luv?   Over the last couple of days, I picked up a…