Category: Insurance Practices

Performance Bond, Insurance Guarantee and Credit Insurance… Aren’t these also Financial Guarantees?

Over the last couple of years you get questions consistently being posted as to whether performance bond, insurance guarantee and credit insurance granted by insurers can also be categorised as financial guarantee. Conceptually, Performance Bond, Insurance guarantee and Credit Insurance…

MyEG Services in “www.myeg.com.my” insurance venture, a path less travelled…

MyEG.com.my

In recent days, My E.G. Commerce Sdn Bhd (including MyEG Services Berhad) and their insurance principals are consistently lambasted with complaints coming from other insurers. Most cited the blatant breach or disregard the existence of General Regulation 33 of the Motor Tariff, Guideline on…

Referral Risks and Declined Risks…. What are these?

Your boss gave you a list containing “Referral or Referred” risks 😕 with specific instruction that your agents cannot accept them but to make referral to you. You would have to assess whether you have the authority to accept such…

Daphne Iking…. dicing with the Social Insurance aspect of section 498?

Daphne Iking (Sabahan fame – TV presenter, host and brand ambassador) was having some prolonged business discussions (??) with business man, Choy Khin Ming… perhaps a couple of hours too long… making husband, Ryan Chong unhappy. He successfully dragged Mr…

New Product in the Making… Insuring your Land with Title Insurance?

land Title Insurance

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…

Management Corporation – of insurances and service tax waiver

Over the last one year, there have been pressure from the marketing teams (obviously driven by broking distribution sectors) to push for the waiver of service tax supposedly apply for all insurance policies issued to Joint Management Body (JMB) and Management…

Amendment to Malaysia Limitation Act 1953 – (1) Getting some terms correct…in proposed S24A

Malaysia Limitation Act

Click On Proposed s24A, B, C Limitation Act Taking from where I left off the last time on 11th June and before the whole episode drifted out from my mind, here are some real concerns in respect of the proposed amendment – insertion of…

Limitation Act – Proposed amendment in respect of latent injury and damages

The Attorney General Chamber had recently called for a meeting of the minds in regards a proposal to extend the timeline for bringing an action that involves latent injury or damages arising from negligence, nuisance or breach of duty. This shall include any breach…