The 5% service tax factor in insurance policy issued in favour of Management Corporation

On 27th July 2009, we have written a post title, “Management Corporation – insurances and service tax waiver” where we have proposed that the 5% service tax on insurance premium should be waived on the grounds that the Management Corporation…

What do you mean by FRONTING a risk?

fronting the insurance risks

  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…

Direct MOTOR Rebating – How does this works?

insurance rebate

The Guidelines in respect of Direct Motor Mandatory Rebate (click on the PDF for details of the Guidelines) can be quite confusing, having confused numerous insurers when it was first implemented on 1st July 2009. Now some critical issues were also…

Anika Insurance Broker…. A 40-years long affair

ANIKA Insurance Broker celebrated its 40th anniversary on the 2nd October 2009. Although a home brewed broking outfit, Anika is standing neck to neck with the international boys, and this is one way of saying, “Malaysia Boleh”! The company is…

SEX INSURANCE…. Don’t leave your spouse alone without one!

Sex for insurance and insurance for sex

Lesson on NEW PRODUCT DEVELOPMENT When my boss directed me to come up with a product that must eventually make it as the best selling insurance product of all times, I was bewildered…. by the way he sarcastically thought so…

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…