Share 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 are basically synonymous with Financial Guarantees. Maybe I should not use the word “synonymous” but rather “a subset of” to be more realistic in that sense. On the question of what exactly are...
Share 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 referral otherwise your decision is whether you would want to escalate this to your boss for a decision. You boss also provide you with another listing containing “Declined” risks , and his instruction...
Share 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 Choy to court in a civil suit through a penal code section 498 summon despite the Public Prosecutor having refused to proceed with it earlier on. The rest of the story is nothing...
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 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 Corporation (MC) formed under either the Joint Property Act (Maintenance And Management) 2007 or the Strata Titles Act to manage residential apartments and condominiums. The established practices in the past, the insurance industry...
Share 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 S24A (1), (2), (3), (4) (5) and (6), S24B (1), (2) and (3), and S24C (1), (2) and (3). But for today, suffice to deal with S24A. While everyone seem to be talking...
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