Category: Insurance Practices

A Period Of Silence Or Blackout Before Premium Rates Change On 1st July 2017

The General Insurance industry is slowly changing (although we may not have noticed those changes) in the face of the liberalisation roadmap for motor and fire insurance practices; a “Roadmap” dedicated by regulators towards building a more modern and robust…

LTA to stop issuing physical road tax discs from 15 February 2017

BY NEYLA ZANNIA ON FEBRUARY 9, 2017   This writeup is from Singapore, although not applicable for Malaysian vehicles but it is good to know in case insurers need to resolve some claim settlements. Land Transport Authority (LTA) has reminded the public…

10 Years of De-Tariffication in India

This article was written by one, Ayush Jain to mark the 10th year of detariffication of the non-life insurance in India, quite timely though if we read this from the Malaysian perspective…. Ironically, despite suffering bad underwriting results year in…

Malaysian courts continue to give effect to arbitration agreements

Shanghai All Green Environmental Engineering demonstrates the Malaysian courts continued attempts to give effect to arbitration agreements and to discount attempts to renege on agreements to arbitrate by relying on technical objections.






What’s Next As General Insurers And Takaful Operators Prepare For The Unknown Poser Of The Phased Liberalisation Roadmap

The liberalisation roadmap (specifically referred to as the “Phased Liberalisation of Motor and Fire Tariffs” and referenced as BNM/RH/PD 029-8) had been put into effect on 1st July 2016 (by Bank Negara) but so far what have the General Insurers and General Takaful Operators been doing….?

The Post-1st July 2016…. Till 1st July 2017

As of now till 1st July 2017 we can only see submission in regards to submission to PIAM’s IPREB for wordings approval, firstly for those existing products that fall within current tariff framework but somehow part of product’s component or section may require a revisit from the tariff angle, and secondly, some insurers may wish to introduce some new add-ons (or currently called extension cover) of standalone products that leverage on the tariff products, for example passengers’ PA leveraging on Motor Insurance.






The Post Malaysian GST, An Insurer’s Nightmare? 

After the 1st April 2015’s GST implementation…. perhaps now is the time for the industry to reflect upon what’s next. What’s next is not difficult to guess. The Royal Custom & Excise department is certain to conduct a check if…

General Insurers Affected By Malaysian Competition Act 2010

The Competition Commissioner had issued a notice to require provision of information and document by all 22 insurers and their Association under section 18(1) of the Competition Act 2010. The notice further states the Commission has commenced an investigation against them under section 15(1) of the Act where the Commission has reason to suspect the 23 listed parties have infringed or are infringing section 4(2)(a) of the Act in relation to and agreement to fix prices or charges in regards to the following for the period between (sometimes in) July 2011 and up until the date of this Notice….






Traveling Tips | Transit vs. Transfer

Most travelers confuse transit and transfer flights when passing through more than one city. They both require change in flight (as in different flight number), but due to lack of precise understanding people have trouble booking tickets. The more you know, the more it helps! Today’s Delicious Travel Recipe Pincake discusses the difference between “transit” and “transfer” flight.






Your Car was knocked by a commercial vehicle for hire and reward

Assuming your car is insured on a comprehensive insurance cover…. What if you were knocked by a vehicle that is licensed for commercial purposes, and specifically for hire or reward? Examples of such vehicle is taxis, buses and “A” permit….…

Is your car insured against damages of the crowd in your UBER or GRAB adventure?

The couple, along with the Uber driver, were pulled out of the car before the suspects used rocks to break the car window. The injured female tourist was then taken to the Kuala Lumpur Hospital for treatment.