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"Overseas Tax on Reinsurance Premium ceded to Foreign Reinsurers
From Malaysia Insurance Entrepreneurs, 9 month ago, Read 0 times. Similar articles
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 the amount of premium reinsured to foreign insurers. We were so used to imposing this tax levy whenever we have dealings with foreign reinsurers, unless they have a branch licensed to operate within Malaysia – like Munich Re and Swiss Re, with the...
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National Insurance Assists for Motor Insurance Policyholders
From Malaysia Insurance Entrepreneurs, 9 month ago, Read 0 times. Similar articles
National Motor Insurance Assists for all to be set up under the New National Motor Insurance Framework' Setting up a National Motor Insurance Claims Assists Center for the purpose of providing prompt services immediately at the time of accident…. Perhaps this is a great idea or maybe just something the industry needs to do to get some small increases in Motor Insurance premium come 2012? Couple of days ago Telekom Malaysia made a presentation to PIAM attended by numerous committee members...
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Trade Credit Insurance | An Important Trade Receivables Protection
From Malaysia Insurance Entrepreneurs, 11 month ago, Read 0 times. Similar articles
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 risk management tool which covers the losses sustained by a firm because of the non-payment of a trade debt.It is really about according protection to a business organisation’s trade receivables….. The following...
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IAG outlines growth strategy
From Insurance Daily , 11 month ago, Read 0 times. Similar articles
Insurance Australia Group (IAG) has reset its priorities with an emphasis on accelerating growth in Australia, New Zealand and Asia, having targeted Asia for 10% of gross written premium, by 2016 In Australia the group will build on its direct business, while in Asia growth will be focused on its existing markets of Malaysia, Thailand [...]
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From Insurance Levy to PIDM Premium | Malaysia Deposit Insurance Corporation Act 2011
From Malaysia Insurance Entrepreneurs, 11 month ago, Read 10 times. Similar articles
The PIDM Guidelines 2011 (for Takaful and Insurance benefits Protection System {TIPS} – submission and returns on calculation of premium)…. …..has just been introduced. Except for the issue date of this guidelines that was on 11 March 2011 nothing much was mentioned about the implementation date. Nonetheless the guide did mention about the insurers and takaful operators being obliged to pay up the prescribed premium when due – at least we know the first premium payment...
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Forensic Services
From Malaysia Insurance Entrepreneurs, 12 month ago, Read 0 times. Similar articles
Forensic Services (M) Sdn Bhd The word “forensic” is generally misunderstood by the majority of people. This is again largely because of the proliferation of television shows and movies that are produced these days that relate to the forensic gathering of evidence. Check out what Forensic Services, Malaysia has to offer….. @www.forensic.cc Generally, the main reasons for investigating accidents are in respect of the following: Large loss requiring due diligence Determination...
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Monitoring Earthquake around the world
From Malaysia Insurance Entrepreneurs, 1 year ago, Read 0 times. Similar articles
In view of the many earthquakes occurring around the world, Malaysia Insurance Online has come up with a widget to link our readers to those occurrences. adv_username = "malaysiainsurance"; adv_gid = "malaysiainsurance_default"; adtype = "336x280"; Currently we limit the monitoring to USGS > 2.5 on the richter. Please scroll down and you should get the sight of the widget on your right hand side…. Updates are quite frequent to the tune of every 25 minutes. Please enjoy…. and do...
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Check your Insurance Policy Jurisdiction | Overseas' Risks
From Malaysia Insurance Entrepreneurs, 1 year ago, Read 0 times. Similar articles
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 more incline to the latter. Under such circumstance, it is important to take note of the policy jurisdiction from two aspects as it is normal for underwriters to forget about section II in respect of third party liability: 1. Jurisdiction in respect of the policy contract...
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Something on Insurance from Minority Shareholder Watchdog Group
From Malaysia Insurance Entrepreneurs, 1 year ago, Read 0 times. Similar articles
MSWG simply means Minority Shareholder Watchdog Group I am a fan of MSWG, they are just so down to earth calling themselves WATCHDOG, and of course DOG! For the purpose of this writeup, we wish to write something on Syarikat Takaful Malaysia Berhad’s coming May 5th 2011 AGM. This AGM is scheduled to be held at Dewan Ahmad Ibrahim, Dataran Kewangan Darul Takaful, Kuala Lumpur. If you are a shareholder, do go there to hear out the Board’s explanation of things….. Coming back to...
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Marine Hull Insurance in a Malaysian jurisdiction | Define your Warranty clearly
From Malaysia Insurance Entrepreneurs, 1 year ago, Read 0 times. Similar articles
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 of Soon Hai Kee Shipping Sdn Bhd v Tokio Marine Insurans (Malaysia) Berhad released in April 2010. The Kuching High Court basically concluded that the plain words of an express warranty contained in the usual marine hull policy cannot be outright...
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