Insurance Assist

Large & Specialised Risks

The acronym, LSR is commonly used for large and specialised risks category in the Malaysian insurance market. LSR simply means those risks falling within the Central Bank’s (or Bank Negara Malaysia) circular – JPI/GPI 11, which was issued back in 1993.

Overseas Insurance Coverage | Overseas Locations and Contingency Business Interruptions

By
Approximately 2/3 of Bangkok was submerged under water for more than a month

Share Is your company providing coverage extension for overseas location? What about extension for Customers’ premises and Suppliers’ premises in respect of Business Interruption or Consequential Loss Insurance cover? The recent massive flooding in Thailand has caused havoc to reinsurers operating within the region. Expected insurable losses amounted to some USD19.5 billion (Thailand’s Office of Insurance Commission). Issues relating to Solvency Margin and Inadequacy Capital Many Thai insurers are already facing solvency problem with...

Read more »

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

By
FM Global

Share 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’ (IAR) wordings (the Large & Specialised Risks’ (LSR) version) throughout the last three years, where making underwriting decision can be a real challenge. The FM Global’s set of IAR wordings is very difficult...

Read more »

What do you mean by FRONTING a risk?

By
fronting the insurance risks

Share   Having sat in numerous meetings involving discussions on subjects relating to Risk-based Capital (RBC) and Risk Management & Compliance (mainly to do with the BNM’s directive in respect of JPI/GPI 22) I noticed people having differing understanding and opinion when articulating the subject concerning “fronting” a risk. In this blog I am not too concern with what they think or the academic sides of things but more on what I think from...

Read more »

Writing the Malaysian Power Plants… The leader in One-eyed Jack?

By
power plant insurance losses

Share A recent very large loss (estimated at RM95.5 million) stemming from damages to a transformer over at a Independent Power Producer (IPP)  GB3 station at Pantai Remis, Perak did raise some eyebrows…. In just about half the calender year of 2009, two major losses were reported giving a total claims amounting to RM110.9 million. Comparing the previous years, we have RM29.9 million for 2008, a whooping RM97.38 million for 2007 and RM30.31 million for 2006, and...

Read more »

LSRs’ Scheme Managers? Have you screened the policy wordings today?

By
work after lunch

Share Since the Large and Specialised Risks (LSR) Scheme was introduced in 1994, Scheme managers have continually displayed increased flexibility in screening the insurance coverage for LSRs as adopted by the leading insurer and the broker. This is in line with the 1994’s objectives of developing a healthy and responsive Malaysian insurance industry by enhancing the level of technical expertise and professionalism prevailing in the industry, but at the same time ensue optimum retention...

Read more »

Free Updates from Malaysia Insurance Online

Fill out the form below for industry updates and we'll drop you a summary.

If you are a registered agent, please provide your agency name so that we can deliver industry documents to you. Do note our strict privacy policy keeps your email address 100% safe & secure. No selling and No spamming.

Click to view!

Click here to visit Themes by bavotasan.com.

Check Latest




Recommended Search


All Malaysian Bloggers Project - TX2

Save on wedding supplies at VistaPrint!

Insurance Quote
  • Insurance news
  • Internet Marketing, Money Online
  • Newsletter
  • Consumer
  • Grapevine
  • IndustryConnect
  • Insurance Coverage
  • Insurance eCommerce
  • Insurance Practices
  • Intermediary
  • Managing
  • Motor Insurance
  • Reinsurance segment
  • Specialised Risks
  • 2012
  • 2011
  • 2010
  • 2009

    • Array