There is an article on Straits Times on June 29, 2008 “It’s poison to profit from death of strangers”. I think it is good to provide some more additional information here. In Singapore, Traded Life Policies (TLP) are used an umbrella term used to describe “viatical settlements” and “life settlements”. They involve the life policies of those who […]
New Motor Claims Framework (MCF)
To curb the rising losses the whole motor industry is facing, General Insurance Association of Singapore has come up with a new Motor Claims Framework (MCF). This new MCF will be implemented industry wide with effect from 1st June 2008. Key requirements you need to know are as follow: Insured driver/policyholder should report any accident […]
New Requirement For Maid Insurance
With effect from 1 July 2008, Ministry of Manpower (MOM) will be raising the minimum coverage of the personal accident insurance for foreign domestic workers from $10,000 to $40,000. This is part of the broader review of work injury compensation for all employees. It will apply to all new applications for foreign domestic workers submitted […]
How a small knock can become a major accident
Home > ST Forum > Online Story May 8, 2008 How a small knock can become a major accident IN 2004, the car that my wife was in was gently bumped from behind (she was waiting at the entrance of the carpark). As it was a small knock, both parties agreed to settle via our […]
Tan Kin Lian, an upset Income customer
Tan Kin Lian, an upset Income customer Former CEO owns policies affected by insurance firm’s ‘arbitrary’ cut of annual bonus CHRISTIE LOH [email protected] OUTSPOKEN insurance veteran Tan Kin ian has lashed out at his former employer, NTUC Income, for cutting the annual onus on its life insurance policies. The upset customer, armed with four decades […]
What is the premium difference without COE?
When the sum insured does not include the COE, the general practice is for insurers to offer a 5% discount off the basic premium computed from the market value of the vehicles. This is because the sum insured does not impact the premium pricing as much as the public might think. Most insurance claims are […]