Tag: Underwriting

Foreign Workers’ Compensation Scheme | frolicking with the extras….

  Whenever a Malaysia-domiciled enterprise engages a foreign worker, the following types of insurance are compulsory: Foreign Workers’ Insurance Guarantee (or Bond) (FWIG) Foreign Workmen’s Compensation Scheme (FWCS) Foreign Workers’ Health Insurance (taking effect from 01.01.2011)   CEO! You may…

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…

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…

Trading, wagering, betting, gambling…. an All-in-one-Underwriting

In essence the underwriting process is nothing more than a business game of risk-to-premium trading – where clients trade with the insurers to have their risk of a loss transferred to the latter with the latter getting a premium in…

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…

Motor Insurance Pricing… Adopt Risk-based rating, maintain tariff or de-tariff?

Which is better…. Risk-based rating, existing tariff rating with permitted Bank Negara’s loading & excess or doing away with existing tariff?  I really do not know. If the industry was to advocate risk-based, our politicians and consumers alike would be…

A Boeing 747-400 JOY-RIDE that can be explosive to your Excess of Loss Protection!

1st May 2010 morning did provide some heart-troubling scenes for those who were within the Golden Triangle location to witness. Morons made moronic decision – just because those pilots were senior and experienced crew, with each having clocked over 10,000 flying…

Punching holes through the Underwriting Guide

Underwriting Guides are put in place to assist users to discharge their day-to-day underwriting functions that they were authorised to handle. It amazes you as to how users actually view their underwriting guide – from following it as a regime…

Underwriting the Risk-Karma

THE NORMAL EYE

I have always wanted to pen something really unconventional… compensating for my equally weird, quacky, quirky life…. I have managed to search out one of those articles (WRITTEN IN THE PAST – last year) to help take me through to…

Referral Risks and Declined Risks…. What are these?

Your boss gave you a list containing “Referral or Referred” risks 😕 with specific instruction that your agents cannot accept them but to make referral to you. You would have to assess whether you have the authority to accept such…