Tag: technical underwriting

What’s Next As General Insurers And Takaful Operators Prepare For The Unknown Poser Of The Phased Liberalisation Roadmap

The liberalisation roadmap (specifically referred to as the “Phased Liberalisation of Motor and Fire Tariffs” and referenced as BNM/RH/PD 029-8) had been put into effect on 1st July 2016 (by Bank Negara) but so far what have the General Insurers and General Takaful Operators been doing….?

The Post-1st July 2016…. Till 1st July 2017

As of now till 1st July 2017 we can only see submission in regards to submission to PIAM’s IPREB for wordings approval, firstly for those existing products that fall within current tariff framework but somehow part of product’s component or section may require a revisit from the tariff angle, and secondly, some insurers may wish to introduce some new add-ons (or currently called extension cover) of standalone products that leverage on the tariff products, for example passengers’ PA leveraging on Motor Insurance.

Stock-throughput insurance coverage in Marine Cargo Insurance

career in marine underwriting

Providing a STOCK-THROUGHPUT INSURANCE COVER or avoiding it? Excluding stock-throughput coverage in a Marine Insurance reinsurance treaty agreement is a norm. However, if you check with your peers the exact nature or meaning of what stock-throughput means, nobody seems to…

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…

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…

I-G Training Pte Ltd

I-G Training Pte Ltd

I-G Training Pte Ltd (IGT) with its new business model is the new power-house for insurance related training in the South East Asia region.   I-G Training Pte Ltd (IGT) is established to provide technical and practical training to the…

Trade Credit Insurance | An Important Trade Receivables Protection

marine cargo insurance

What does Trade Credit Insurance means to business organisations, in particularly for those that operate in Malaysia? Trade Credit Insurance was developed to provide solutions to inherent risk of buyers defaulting and/or insolvency. Trade Credit Insurance is also a financial…

Check your Insurance Policy Jurisdiction | Overseas’ Risks

At times we may be requested to issue a Contractors’ All Risks policy in Malaysia to insure an overseas’ risk, either the risk being an incidental part of the main risk or it is the main risk itself. Usually is…

Marine Hull Insurance in a Malaysian jurisdiction | Define your Warranty clearly

[ad name=”Google Adsense”]EXPRESSED WARRANTY MUST BE CLEARLY WORDED OTHERWISE IT WOULD BE SUBJECT TO COURTS INTERPRETATION…. freely so to speak! SOON HAI KEE SHIPPING SDN BHD VS. TOKIO MARINE INSURANS (MALAYSIA) BERHAD This so-called bizzare judgment relates to the case…

Energas Captive Insurance captured its A rating

Energas Insurance (Labuan) Limited (Energas), the Captive Insurer of Malaysian energy giant, Petronas National or PETRONAS was granted an “A” (excellent) financial strength rating from AM Best. A.M. Best Co. has assigned a financial strength rating of A (Excellent) and…