Tag: Coverage

Valentine Day | Marrying… consider some marriage-support insurance

Best Re rating

Happy Valentine Day…. and wondering what to write about the occasion. Oh! yes… we are not going to get ourselves embroil in the recent fatwa (or edict) concerning “Mind the Valentine’s Day Trap”… Perhaps it is good if we revisit…

Punitive Damage Awards |Are these recoverable under Reinsurance Agreement?

What are punitive damage awards? In the context of this posting, punitive damages or what is usually termed as exemplary damages are damages intended to deter the defendant and others from engaging in conduct similar to that which formed the…

The advantage of Death & Pension annuities

Malaysian normally do not think much about annuities, not to mention buying one for their golden years. There are better investment options than investing in an annuity just for the sake of living too long! Some seemingly dull topic here….…

Passenger liability: Your kids are not covered…….

What is passenger liability cover in your private vehicle insurance policy? It simply means coverage for you in the event your passenger(s) sue you or your authorised driver for having driven the car negligently, resulting in bodily injury, death or…

The new (1/1/2009) Institute Cargo Clauses in a nutshell

marine cargo insurance

At the beginning of year 2009, the new ICC Clauses became available to the Market after a two-year consultation process.  The overall result has been to create clearer policies that are more favourable to the Assured than the previous 1/1/82…

Driving your Motor Vehicle into Singapore?

It is an offence to enter Singapore without extending passenger-liability cover to your existing motor insurance policy. In Singapore passenger-liability cover is compulsory but Malaysian motor insurance policy has no auto-extension for such passenger-liability (or liability to passenger). Thus, it…

Piracy Update: EU Council Regulation 356/2010 reinforcing US Executive Order concerning Somalia

Not too long after the US Executive Order blocking property of certain persons contributing to the conflict in Somalia was issued, EU have on the 28th April released their EU Council regulation 356/2010 with almost similar objective. The best job…

Say NO to Motor third party bodily injury and death liability limit of RM2 million…..

The deadline for submitting your protest or suggestions or even arguments over the proposed TPBID mandatory (Newco) scheme is already over. The government has decided, and the new basic third party insurance policy will be sold nationwide come Jan next…

Piracy update – Effect of US Executive Order on ransom payment

What impact will the new US Executive Order have on piracy in Somalia? (Adapted from an article written on May, 5 by Jai Sharma, director of Casualty & GA Department, Dolphin Maritime and Aviation Services Ltd) In spite of attempts…

TPBID Newco…. Disputing its viability at a recent Market Meeting

On the 30th April 2010, the Non-Life insurance industry held its first open-market discussion on the recent proposed national third party bodily & death (TPBID) Newco and its very sketchy operating model. This event was held by PIAM to obtain…