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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Friday, 26 June 2009
Views on Premium Rebates
Various parties have come forward to express their views on premium rebates:
Fomca
- Welcome BNM's move
- Want the rebate to be extended to life policies as well
- In the long run detrimental to consumers, agents and insurance industry
- Agents play a role especially in reaching to the remote areas
- Will cause a huge unemployment problem
PIAM
- Trend is towards diversification of distribution channels
- Increasing demand for agents who could offer a comprehensive financial advisory package
- Customers who are comfortable with and appreciate the services provided by agents will continue to deal through agents
Lonpac
- Agents not affected if they provide good service and are familiar with their products
- Agents can assist in handling claims
Source: Business Times, The Star 1 & 2
Labels: Lonpac, PIAM, Premium Rebates
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.
Previous Posts
- Pacificmas talk rejected
- Prudential Korea sings different tune
- BNM moves to principle-based regulatory regime
- Progress in Transformation of Agents
- STMB wants to overtake Etiqa Takaful
- Lonpac sets targets
- Good potential for financial advisors in Malaysia
- BNM firm on premium rebates
- AEON to sell insurance policies
- AIA rebrands
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