What this blog is about?

Purpose: This blog provides brief insurance news and digest for the busy executives. It is a handy archive covering major insurance news in Malaysia and nearby countries. 

Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we are not liable for any loss arising from the use of any information contained in this blog.

Reproduction: You may reproduce materials published here provided that the source (actuaries.com.my/insurance-news) is properly acknowledged.

MTA members to expedite MH370 claims 

Insurance News

  -  March 27, 2014
MTA will ensure that its member companies assist and expedite claims processes for MH370 related claims.  http://bit.ly/TAS140327d 

 

Posted by Loo Hai Friday, March 28, 2014 9:55:00 AM Categories: MTA
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Smog insurance stopped 

Insurance News

  -  March 27, 2014
Chinese regulators have stopped the selling of the innovative smog insurance after it was introduced for less than 2 weeks. No reason was given.  http://bit.ly/TAS140327c 

 

Posted by Loo Hai Friday, March 28, 2014 9:54:00 AM Categories: Nice2Know
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Death certificates not needed for MH370 claims 

Insurance News

  -  March 27, 2014
Life insurance companies in Malaysia have agreed to accord special priority in facilitating and expediting claims payment for passengers of MH370 without requiring death certificates. Claims payment can be processed within a week once the proper claimant is identified.  http://bit.ly/TAS140327a Meanwhile, Chinese insurance companies have also started paying their claims. http://bit.ly/TAS140327b

 

Posted by Loo Hai Friday, March 28, 2014 9:50:00 AM Categories: LIAM
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Pool participated by local insurers retains only 3% of the risk 

Insurance News

  -  March 26, 2014
The aviation insurance pool that makes up of local insurance companies only retains 3% of the risk of the aviation hull and liability policy. Malaysian Re confirms that it is part of the pool and it also has exposure to PA liability through the voluntary cession arrangements.  http://bit.ly/TAS140326a 

 

Posted by Loo Hai Wednesday, March 26, 2014 9:15:00 PM Categories: Malaysian Re
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Majority of MH 370 Malaysian passengers insured 

Insurance News

  -  March 25, 2014
According to LIAM, 47 of the 50 Malaysians on board MH 370 were insured with its 14 member companies. 6 non-Malaysians also had policies with LIAM's member companies.  http://bit.ly/TAS140325a 

 

Posted by Loo Hai Tuesday, March 25, 2014 9:24:00 PM Categories: LIAM
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Lonpac builds market share preparing for more competition 

Insurance News

  -  March 18, 2014
The insurance industry is expected to become increasingly competitive with the entry of foreign players and the detariffing of motor and fire insurance in 1/2016. Lonpac has been actively building its market share to achieve economies of scale and increase its competitive edge. It has exposure of 3 PA policies in MH370 and some reinsurance exposure through its participation in the aviation pool.  http://bit.ly/TAS140318a 

 

Posted by Loo Hai Tuesday, March 18, 2014 7:25:00 PM Categories: Lonpac
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PIAM's members are ready for claims 

Insurance News

  -  March 14, 2014
PIAM's member companies are well-positioned to provide services and pay out claims that emerge from the MH370 incident.  http://bit.ly/TAS140314a 

 

Posted by Loo Hai Friday, March 14, 2014 7:23:00 PM Categories: PIAM
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