Regulations to revamp Malaysia’s life sector (A Zurich viewpoint) 

By Monira Matin Malaysia’s life insurance industry, traditionally dominated by agency business, is set to see “rapid changes” once the country brings wide-ranging regulatory measures, according to Philip Smith, chief executive of Zurich Malaysia Bhd. The insurance regulator Bank Negara Malaysia…

MyCC’s Proposed Decision Against PIAM and its 22 Members

As announced by the Bank in 2016, measures are currently being taken by the Bank to implement broad reforms in the motor insurance market, which includes the gradual liberalization of the motor insurance tariffs. This aims to promote a more competitive motor insurance market, while ensuring affordable motor insurance premiums in the long term.  Without appropriate arrangements to control inflated and fraudulent claims which are being addressed as part of the reforms, these objectives will be severely undermined. 

MyCC ISSUED A PROPOSED DECISION AGAINST PIAM AND ITS 22 MEMBERS

Not a good week for the General Insurance industry…. The following PRESS STATEMENT by MyCC said it all! The following is the extract of the Press release: PRESS STATEMENT MyCC ISSUED A PROPOSED DECISION AGAINST PIAM AND ITS 22 MEMBERS…

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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…

Messy People: How Disorder Can Contribute to Success

​This has nothing to do with insurance but being a messy person that I am, this seems to be a piece of good news, the very reason why this is posted here….  MIC LISTEN TO THE PODCAST: Author Tim Harford explains…