Tag: Insurance Practices

Overseas Insurance Coverage | Overseas Locations and Contingency Business Interruptions

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

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…

Buying Your Motor Insurance with Passenger Liability Extension Cover?

This posting is about Legal Liability to Passengers (LLP) or in simple term, “Passenger Liability” – talks about what’s being covered and what’s not, including the insurers’ obligation under the Road Transport Act (RTA) to cover passenger liability in identified…

What is Sanction Limitation and Exclusion Clause? What are the Implications?

Omitting the Sanction Limitation & Exclusion Clause is a big burden to carry

The Sanction Clause as what Malaysian insurers called it has effectively found its place in the industry on 1st April 2011. What exactly is this Sanction Limitation and Exclusion Clause or Sanction Clause in short? This Sanction Clause had on 1st…

Overseas Tax on Reinsurance Premium ceded to Foreign Reinsurers

The real onion and the toxic onion

Overseas tax applicable on reinsurance premium This writeup is really for those who are engaged in reinsurance functions; treaty and facultative alike. It is normal for us to charge a 1.25% (back in 2007 and before we charged 1.40%) on…

Legalise Illegal Foreign Workers With Insurance Assists

More and more things to do for the insurance industry, but necessary to get more business

348 agents to process illegal foreign workers‘ applications for the purpose of legalising them in a biometric-system-driven programme or Program 6P And the General Insurance companies and Takaful Operators are going to be a part of these 348 agents….. But…

Market Value for Motor Vehicles

Market Value of Vehicles, Why not for the Birds?

How To Determine The Market Value of Your Motor Vehicle For Insurance? Check no further…. read this; it is from the Central Bank, The Consumer & Market Conduct Department…. Insurers and Takaful operators must ensure that they (including their agency…

Insurance Talk Show over at DurianFM.com

http://www.malaysiainsurance.info/wp-content/uploads/2011/06/tell-it-like-it-is-14th-june-11.mp3Podcast: Play in new window | Download | Embed A Podcasting Affair On DurianFM.com….. “Not For Anyone” It is not everyday you get to share your views LIVE over the radio – sharing the various tips and matters of interest…

Career in Life Insurance Underwriting?

Life Insurance Underwriting Life insurance underwriting is a crucial process for determining the risk profile and estimating the premium amount of a policyholder. The underwriting guidelines for insurance companies may differ from one another. When you purchase any type of…

Warren Buffett’s Letter to Shareholders… The Insurance part

It is a norm for Warren Buffett to write personally to his shareholder including the minority… And he is pretty direct with his words. This year he released his yearly letter to Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-A) shareholders on…

Bank Negara’s Circulars and Guidelines | Happy New Year 2011

Happy Holiday at the beach?

Here we are at the very doorsteps of 2011 and a public holiday to go along with the celebration. Today’s holiday was declared by the Prime Minister for the nation to celebrate the Malaysian football team’s one of those rare…