Insurance News
Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Thursday, 2 April 2009
Impact of economic downturn on GI industry
The general insurance industry is predicting the following impact of economic downturn:
- Rise in claims (e.g. vehicle theft claims, fire, robbery, other property theft claims), due to increase in crime rate
- Cost cutting by companies, hence preventive measures will be deferred
- Increase in moral hazards, e.g. fire claims
Source: Business Times
Labels: Claims, General Insurance
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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