EXPANDING PERSONAL AND COMMERCIAL LINES INSURANCE

TOKIO MARINE INSURANS (M) BHD, KL
18TH OCTOBER 2016


Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:
https://www.dropbox.com/s/fehass7a4e22tz1/EXPCLTMIM%20-%20REVISEDCopy%20%5BCompatibility%20Mode%5D%20-%20Copy.pdf?dl=0

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Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

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Admin

RFT CLAUSES & WARRANTIES

TOKIO MARINE INSURANS (M) BHD, KL 30TH SEPT 2016



Dear Participants



Good Day. Welcome to our CPD Training 2016.

You are invited to download the soft copies of the handouts by clicking on the link below:


https://www.dropbox.com/s/kil96jweqsyoksc/RFTClausesMaster300916%20-%20Copy%20%5BCompatibility%20Mode%5D.pdf?dl=0



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Please be reminded that these handouts are intended for your reference only and not to be reprinted and distributed to any other sources without the permission of the author.

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Admin

RUNNING A SUCCESSFUL INSURANCE AGENCY IN A DETARIFF MARKET

TOKIO MARINE INSURANS (M) BHD, KL 28TH SEPT 2016



Dear Participants



Good Day. Welcome to our CPD Training 2016.

You are invited to download the soft copies of the handouts by clicking on the link below:

https://www.dropbox.com/s/tuhkhe339xfllxk/tmidetariff2892016%20-%20Copy.pdf?dl=0

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Admin

DRAFTING A COMPREHENSIVE GENERAL INSURANCE PROGRAM WITH HIGH IMPACT CLOSING

TOKIO MARINE INSURANS (M) BHD, PENANG 27TH SEPT 2016



Dear Participants



Good Day. Welcome to our CPD Training 2016.

You are invited to download the soft copies of the handouts by clicking on the link below:


https://www.dropbox.com/s/0dfuxp0gcz427xe/NewBizQuote2016%20%5BCompatibility%20Mode%5D.pdf?dl=0

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Admin

DETARIFFICATION: TRIALS. CHALLENGES & SUCCESS

RHB INSURANCE BHD, MELAKA, 18TH AUGUST  2016

Good Day, Participants

Welcome to our CPD Training 2016

You are invited to down load the training materials by clicking on the link below

https://www.dropbox.com/s/034k8meawcrtq2j/DetariffRHB.pdf?dl=0

No hard copies will be distributed during the session in our effort to go GREEN

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Happy Learning

Admin

ACCELERATED GROWTH AND IMPROVED BOTTOM LINE

LONPAC INSURANCE BHD 4TH AUGUST 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:


https://www.dropbox.com/s/7fmfsipb2x3bq34/PRINTCopy%20of%208ts%20%5BCompatibility%20Mode%5D.pdf?dl=0



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Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

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Admin

CPD TRAINING 15TH JULY 2016 @ SEREMBAN

Personal Injury Claim: Uniform Quantum of Payment

The days of inconsistent awards handed down for injuries sustained in accidents are over.

Since January 2011, a compendium of personal injury award has been in place in the magistrate's and sessions courts to serve as a guide line. Below are the range of awards for selected personal injury claims:

Injury                                                   Low (RM)                  High (RM)                                                                                       
1.   Phalange (finger)                            3,000                           12,000
2.   Phalange (toe)                                3,000                            6,000
3.   Skin Grafting                                  10,000                         25,000
4.   Memory Impairment                       20,000                         45,000
5.   Loss of Eye                                    80,000                         85,000
6.   Ear Ripped off                                 5,000                          15,000
7.   Loss of One Testicle                       15,000                         25,000
8.   Loss of Both Testicles                     60,000                         80,000
9.   Loss of An Ovary                           15,000                         40,000
10. Loss of Both Ovaries                      60,000                         80,000

With the uniformity in awards for similar injury claims, it is easier for lawyers to advise clients with majority of cases settled on the date of the hearing instead of wasting time arguing over the quantum.


Nonetheless, the Judges and Lawyers are at a liberty to depart from the compendium if case law or factual circumstances so dictate. For example, Lawyers may need to argue case law before the judge in seeking higher quantum of awards for major disability, amongst others to include loss of furture earnings, pain and suffering, nursing care and prosthetic limbs etc.

In such a case, the court will take into consideration the claimant's age, gender, and marital status and whether the injuries would affect the prospect of marriage.

Other factors that have a say in the quantum of the awards are the impact on the claimant's employment, ability to perform household chores, facial and body asymmetry, ability to have children and whether the claimant is a sportsperson etc

The compendium is intended to be a quick reference document for judges and lawyers and can be accessed at http://www.malaysian-bar.org.my/task_force_to_review_the_compendium_of_personal_in/

Source: The Star 13th May 2011

COMPREHENSIVE GENERAL LIABILITY INSURANCE

LONPAC INSURANCE BHD, 
SEREMBAN 15TH JULY 2016
PENANG 21ST JULY 2016

Dear Participants



Good Day. Welcome to our CPD Training 2016.

You are invited to download the soft copies of the handouts by clicking on the link below:

https://www.dropbox.com/s/1jceca31hs5k2v2/CGLMaster%20-%20SBNPrintCopy.pdf?dl=0


No hard copies will be distributed in our effort to go green.

Please be reminded that these handouts are intended for your reference only and not to be reprinted and distributed to any other sources without the permission of the author.

Regards
Admin

EXPANDING PERSONAL AND COMMERCIAL LINES INSURANCE

LONPAC INSURANCE BHD, BATU PAHAT 12TH JULY 2016


Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:


https://www.dropbox.com/s/ikq1u0wczltzhqn/ExpPerComBP%20%5BCompatibility%20Mode%5D.pdf?dl=0


No hard copies will be distributed in our effort to go GREEN.

Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

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Admin

COMMERCIAL FIRE INSURANCE BIZ: COMPETE COMPETITIVELY

TOKIO MARINE INSURANS (M) BHD, ALOR STAR 24TH JUNE 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:

https://www.dropbox.com/s/61of5oi7j30tz0c/TMIMComFireBiz%20%5BCompatibility%20Mode%5D.pdf?dl=0


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Admin

PACKAGING PERSONAL LINES INSURANCE FOR TOTAL INSURANCE PROTECTION

RHB INSURANCE BHD, K.K ON 20TH JUNE 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link be


https://www.dropbox.com/s/gm4ut3birr1ns6o/RHBPLPACKAGE%20-%20Copy.pdf?dl=0


No hard copies will be distributed in our effort to go GREEN.

Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

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Admin

EXPANDING PERSONAL AND COMMERCIAL LINES INSURANCE

LONPAC INSURANCE BHD, IPOH, 16TH JUNE 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:

https://www.dropbox.com/s/ulwm9eeynlrnubt/PrintCopy%20of%20ExpPerCommLonpaciPOH%20%5BCompatibility%20Mode%5D.pdf?dl=0
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Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

Regards
Admin

COMBINED GENERAL LIABILITY INSURANCE

RHB INSURANCE (M) BHD, PENANG,  17TH JUNE 2016


Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are invited to download the training materials by clicking on the link below:

https://www.dropbox.com/s/el4ah8ro8xytdmo/CGLMaster%20-RHB%20PrintCopy.pdf?dl=0


No hard copies will be distributed in our effort to go GREEN.

Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this training class without the permission of the Author

Regards
Admin

UNDERWRITING FROM THE INSURANCE VIEW POINT

Underwriting is a constant process of Risk Assessment and Decision Taking

STEP 1: RISK ASSESSMENT

Underwriter can obtain the risk assessment information from the completed Proposal Form, Risk Surveyor Report; Photographs of the Risk, Company's Annual Financial Report, Manufacturing Flow Chart, Check Lists, Fault Trees Study and even from site visitation to help him/her made an indepth assessment and evaluation of the risk proposed for insurance.

Underwriter should  identify the physical hazards and moral hazards that are present in the risk and where necessary prompt a decision on how best to control, treat, transfer or eliminate the hazards from originating and causing loss, damage or destruction to the properties insured or injuries or loss of lives to self and others etc

Hazard is defined as "a condition that increases the likelihood of happening".

Example of  "Physical Hazard"

• Use of any flammables in manufacturing process (Fire) increases the likelihood of fire explosion
• Too much cash in Transit (Money) increases the likelihood of armed robbery
• Overcrowded children playground (Public Liability) increases the likelihood of injury/death
• Deplorable gondola for window cleaners (Workmen) increases the likelihood of accidental injury or death
• Bungee jump or parachuting as a hobby (PA) increases the likelihood of accidental injury or death

  

Example of "Moral Hazard"

• Tendency to underinsure his property
• Financial constraint to run the business
• Anti-Selection against Insurer
• Reluctance to carry out any risk improvement measures to safeguard his properties
• File claims at the slightest opportunity
• Falsifying or Inflating claims beyond his losses for a profit
• Bad paymaster of premium

     
Increases the likelihood of fraudulent claims


STEP 2: DETERMINE THE LEVEL OF RISK

Risk with low probability of claim and low consequent of damage can be classified as "Satisfactory" or "Good".

On the contrary, risk with high probability of claim and high consequent of damage can be classified as "Poor" or "Below Average".

However most of the risks in the market are in the "average or below average" range.  Challenge is for the Underwriter to rid of the hazards by way of risk improvement in order to improve the level of risk and to enhance acceptance.


STEP 3: DECISION TAKING

Decision to accept the risk on normal terms or with additional terms and conditions or to reject the risk is made after careful identification and assessment of the physical characteristics and moral defects in the risk

Underwriter (UW) should adopt a pro-active approach to underwriting. Meaning, the UW should look for all the reasons to accept the risk proposed for insurance unless there are high elements of physical hazards and moral hazards that decline is inevitable

Example 1 : A newly opened Sundry shop in a new township where 95% of shop houses there are still vacant.

The UW should not reject the proposal for a Burglary Insurance just because of the quiet neighborhood.

If the Sundry shop is fully equipped with burglar alarm, CCTV, reinforced iron windows/ doors, workers residing in the shop after closing for business, night lightings etc then why reject?

Example 2: A production machine about 20 years of age.

The UW should not reject the proposal for Machine & Equipment  Insurance just because of the old age of the machine.

If the machine is being regularly maintained in good working condition and operated in a secured area of the premise then why reject?

Example 3 : RM100,000 of money in transit.

The UW should not reject the proposal for a Money Insurance just because of the large amount of money in transit.

The person can impose certain underwriting terms and conditions as a prerequisite for acceptance.
If the Insured is prepared to pay a higher premium and to comply with the security warranty (money to be transported /accompanied by armed professional security guards) then why reject?

Example 4: PA for a 65 years old man.

The UW should not reject the proposal for a PA Insurance just because he has reached the last entry age for insurance at 65.  If the man is still physically fit and healthy then why reject?

The UW can spell out the terms that the insurance coverage is limited to Death/PD only and/or renewable up to age 75 only

UW is more inclined to accept risk classified as "Good or Satisfactory"

On the other hand, decline is inevitable for Risk graded as “Below Average” or “Poor” .

For average rated risk, additional Underwriting Terms / Conditions can be imposed in the form of:

• loading on premium
• higher excess or deductible
• risk improvement requirement
• restriction of cover
• reduced Limit of Indemnity

STEP 4: PREMIUM CHARGED

Final underwriting process involves the computation of premium to be charged for the risk in question. Premium charged must commensurate with the risk.

HOUSEBREAKING: GOOD RISK MANAGEMENT PRACTICES

YOUR HOME

1. Ensure your main / side gates are securely closed and locked when you leave your house or when back from work or before you retire for the night. Cases of gate left ajar are not uncommon.

2. All house windows and doors openings to be protected with iron grill against break in. (For fire safety purpose, ensure that the grill can be easily open from the inside as there are just too many cases of victims being trapped inside during a fire)

3.Ensure the metal door to your rubbish chute compartment is securely closed from the inside. The rubbish collector had the habits of leaving the door ajar after collecting your rubbish

4. Closed all doors and windows especially the ground floor of your house but if you have to open them, ensure your external gates are securely fastened and locked

5. Tint all windows or install black out curtains at windows facing the main road to prevent would be burglars from seeing all your attractive furnishings, items etc placed in your living hall

6. Statistics have shown that many break-ins occurred during the early afternoon when most houses are unoccupied with residents out working. Keep doors and windows especially the rear ones securely locked and fastened Activate your intruder alarm and link the system to your hand phone or PC. Install CCTV which is the primary defense against any attempted break in. Said to be more deterrent to burglars as they know their images will be recorded live before they make the illegal entry into your house. Maintain these systems in good working condition

7. If you have live in maid, instruct her not to open the gate to any strangers who may disguise as contractors and come a calling on the pretext of repairing the defects in your house. She should call YOU if she is in doubt. She should be advised not to wander outside your perimeter fencing to do gardening, lepak etc at this odd hour as she could be forced at gun point to open the door to your house.

8. If you are going away for vacation or outstation and your house is to be left unoccupied, inform your neighbors to keep an eye for you and vice versa. Make sure you can be easily reached or contacted in the event of an emergency. Suspend any newspapers delivery to your house during your absence.

Important note:
Please inform your Insurer if your house is to be left unoccupied for more than 90 consecutive days. Insurance for Theft of contents and personal belongings will be suspended unless prior notice is given and an additional premium is paid to your Insurer.

9. Switch on your porch lights as well as the rear lights at night. Use of timer switch is recommended. Remember burglars/intruders usually strike at dark spots which are invisible to others. However, if the electricity bill is your concern, work out a win-win situation with your immediate rear neighbor with each volunteer to switch on the rear lights on alternative nights.

10. Make a copy of all EMERGENCY telephone numbers of Police, Fire Brigade, Ambulance, municipal Councils etc which can proved useful when we need their assistance. Stick the numbers on your fridge, wall etc. for easy visibility.

11. Use your cars parked at your porch as the alternative mode of protection against intruders/ burglars. Keep a set of your car spare keys with the alarm remote control in your master room. Should you sight any burglars/intruders in the vicinity of your compound in middle of the night, immediately press your car remote control and set off the alarm to get attention.

12. Be vigilant at all times. Look out for suspicious characters loitering around your neighborhood and report them to the authorities concerned.

13. Discard the “IT WILL NOT HAPPEN TO ME” attitude as burglars / intruders can strike any time, anywhere without warning. Know all your neighbors, get their contacts, participate in discussion, gotong royong etc.

14. Form and subscribe to a Gated and Guarded Community with 24 hrs security and patrol by a professional security firm that had proven to reduce crime rate to almost zero percent.

DISCLAIMER

This write up on “Good Risk Management Practice” is advisory in nature only and is intended for Members reading pleasure only. We will not take responsibility for any loss and or damages to properties or injuries sustained by Houseowners as a result of complying or trying to comply with the above practices

THE A-Z (TERMINOLOGY) OF MOTOR INSURANCE

LONPAC INSURANCE BHD, ALOR STAR 25TH MAY 2016

Good Day, Participants

Welcome to our CPD Training 2016

You are invited to down load the training materials by clicking on the link below

https://www.dropbox.com/s/htj5fkqrdyt6tn2/AZMotorLONPAC%5BCompatibility%20Mode%5D.pdf?dl=0

No hard copies will be distributed during the session in our effort to go GREEN

Please be reminded that these materials are intended for your internal reference only and are not to be reprinted, copied and distributed to others who are non participants without the permission of the author

Happy Learning

Admin

LL

EXPANDING PERSONAL AND COMMERCIAL LINES INSURANCE

LONPAC INSURANCE BHD J.BAHRU 17TH MAY 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016

You are invited to download the training materials by clicking on the link below:

https://www.dropbox.com/s/13ic6zdt18f8otp/ExpPerCommLonpac%20%5BCompatibility%20Mode%5D.pdf?dl=0

No hardcopies will be distributed in our effort to go GREEN

Please be reminded that these training materials are intended for your internal reference only and are not to be reprinted and distributed to others who are non participants of this class without the permission of the author

Happy Learning

Admin

COMPREHENSIVE GENERAL LIABILITY INSURANCE

LONPAC INSURANCE BHD, KUANTAN, 13TH MAY 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016

You are invited to download the handouts by clicking on the link below:

https://www.dropbox.com/s/1jceca31hs5k2v2/CGLMaster%20-%20PrintCopy.pdf?dl=0


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Please be reminded that these handouts are meant for your internal reference only and not to be reprinted and distributed to others who are non participants without the permission of the author

Happy Learning

Regards
ADMIN

STRATEGIES ON RUNNING A SUCCESSFUL AGENCY IN A DETARIFF MARKET

LONPAC INSURANCE BHD, MELAKA, 6TH MAY 2016

Dear Participants

Good Day. Welcome to our CPD Training 2016.

You are hereby invited to download the training material by clicking on the link provided below

https://www.dropbox.com/s/o3spqgl3uvd2c7p/pRINTCopySUCCESSFULAGENCY.pdf?dl=0


Please be reminded that these handouts are meant for your internal reference only and are not to be reprinted or distributed to other sources without the permission of the author

Happy Learning

Regards
Admin