Peningkatan terhadap jumlah sumbangan Takaful Motor


Bank Negara (BNM) pursuant to Section 144 of the Insurance Act 1996, has approved the adoption of adjusted Motor Tariff premium rates for policies purchased or renewed beginning 1st January 2012. However, to ensure all members have adequate time to update their systems and notify intermediaries of the changes, the implementation shall take effect on Monday, 16th January 2012.

Perubahan ini juga terpakai kepada semua jenis kenderaan yang dijual di Malaysia Barat dan Malaysia Timur.

Contoh

Kenderaan Persendirian (Komprehensif) - Malaysia Barat

Jenis Kenderaan dan Model : Toyota Camry 2.4

Tahun dikilangkan : 2007

Jumlah perlindungan : RM60,000

Pengiraan jumlah sumbangan perlindungan Takaful mengikut kadar lama :

Jumlah sumbangan asas                   RM1,838.20

Duti setem                                 +   RM     10.00

Jumlah sumbangan Kasar               RM1,848.20

Pengiraan jumlah sumbangan perlindungan Takaful mengikut kadar baru :

Jumlah sumbangan asas                   RM1,855.30

Duti setem                                 +    RM     10.00

Jumlah sumbangan Kasar                RM1,865.30

Peningkatan jumlah sumbangan sebanyak RM17.10 mengikut kadar baru.

**  Nota  - Jumlah sumbangan asas adalah tidak melibatkan manfaat tambahan seperti cermin kenderaan, banjir dll.


Untuk sebarang sebutharga, sila nyatakan maklumat asas berikut:-
1. Jenis Kenderaan (model, cc, tarikh dikilangkan)
2. Jumlah NCD
3. Jumlah perlindungan yang dikehendaki
4. Manfaat tambahan yang diperlukan (cermin kenderaan, banjir dll)

Implementation of the New Motor Cover Framework

As part of the New Motor Cover Framework (the Framework) in addressing the structural issues within the motor insurance sector, Bank Negara Malaysia is pleased to inform on the progress of enhancement measures to improve the claims settlement process and the implementation of gradual premium adjustments since its announcement on 11 March 2011.

In ensuring that the public has access to motor insurance at reasonable premiums, several immediate measures were introduced in May 2011. Among the measures undertaken include ensuring that the public would be able to obtain motor cover from the Malaysian Motor Insurance Pool from any general insurer or their branches as well as from any Pos Malaysia branch nationwide.

To ensure the successful implementation of the identified improvement measures under the Framework, a Joint Working Committee (JWC) was established in April 2011, comprising representatives from key Government ministries, the insurance and takaful industry, consumer and transport groups as well as the Malaysian Bar Council. Several enhancement measures already implemented have resulted in enhanced efficiency of the claims settlement process, with faster turnaround time for claims on personal injury, especially for cases that were settled via court mediation. Further measures to enhance efficiency include the referrals to the Compendium of Personal Injury Awards by judges in awarding compensation for personal injury as well as the enforcement of timelines for obtaining police and medical reports. Other measures for the implementation of further efficiency enhancements include the introduction of a motor insurance claims kit to expedite notification of an accident and claims as well as the establishment of a nationwide 24-hour call centre to provide immediate roadside assistance to accident victims in the first quarter of 2012.

As part of the Framework, the gradual revision in the Motor Tariff premium rates will be implemented effective from 16 January 2012. It will be the first to be undertaken after non-revision for more than 30 years. Over the duration, the levels of car ownership, accident rate and claims in Malaysia have risen significantly. In addition, hospitalization costs, medical expenses and costs of vehicle repairs and spare parts have also increased.

The premium adjustment is in small quantum and to be implemented gradually over a period of four years. The implication on the members of the public and businesses will be marginal. For example, in respect of Third Party cover, motorcycles of 110 cc will experience a premium increase of between RM1.00 - RM3.50 per year only (a maximum of 30 sen per month) over the next four years. For a private car of 1,400 cc, the premium adjustment will be between RM6.00 - RM34.00 per year (a maximum of RM2.80 per month) over the same period. For commercial vehicles such as outstation taxis and buses, the impact of the premium adjustment on the passengers would be minimal at less than 10 sen per passenger per trip.

The adjustment in the Motor Tariff premium rates will be reviewed periodically to ensure that the adjusted premium rates continue to be reflective of the claims experience. The Framework will pave the way for detariffing of the motor insurance premiums in 2016, in which? premium rates will be further differentiated in accordance to the risk profile of individual vehicles and fairer to vehicle owners as those with good claims experience would enjoy much better premium rates than those with higher risk profile.

To ensure that members of the public are aware and able to benefit from the Framework, particularly on the enhancements to the motor claims settlement process, Bank Negara Malaysia and the insurance industry will continue to provide information to the public on motor insurance issues through the consumer awareness and outreach programs that are currently in place.

Members of the public who have any queries relating to the Framework can contact Bank Negara Malaysia at TELELINK: 1-300-88-5465 or visit either the www.insuranceinfo.com.my or islamicfinanceinfo.com.my website. Enquiries can also be forwarded to either Persatuan Insurans Am Malaysia (PIAM) or individual insurers.

Source : http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=2382

Motor tariff premium rates revised

Saturday January 7, 2012

KUALA LUMPUR: A revision in motor tariff premium rates in Malaysia will take effect from Jan 16 on a gradual basis over the next four years.

Bank Negara said at a briefing that the premium adjustment, which would be implemented in small amounts over a measured pace, was expected to have only a marginal impact on the public and businesses.

For example, in respect of third-party cover, motorcycles of 100cc would experience a premium increase of between RM1 and RM3.50 per year over the next four years. For a private car of 1,400cc, the premium adjustment would be in the range of RM6 to RM34 per year over the next four years.

The premium adjustment for commercial vehicles such as outstation taxis and buses, on the other hand, would see only a minimal impact of less than 10 sen per passenger per trip.

Tariff adjustments aside, the element of loading would still apply based on the risk profile and age of the vehicles, but the maximum rate of loading would remain unchanged at 150%.

The upcoming revision in motor tariff premium rates forms part of the New Motor Cover Framework that is aimed at addressing the structural issues within the motor insurance sector to ensure continuous and sustainable motor protection to users.

It will be the first to be undertaken after more than 30 years of non-revision, despite the fact that the levels of car ownership, accident rates and claim incidences have risen significantly over the years, thus putting cost pressures on the country’s motor insurance industry.

Malaysia now has 19 million registered vehicles.

Under the new framework, Bank Negara said the adjustment on motor tariff premium rates would be reviewed periodically to ensure that the adjusted premium rates would be reflective of the claims experience.

The new measure was expected to pave the way for the de-tariffing of motor insurance sector in Malaysia by 2016, following which motor premium rates were expected to be further differentiated according to the risk profile of individual vehicles to ensure fairness to consumers.

The new framework would also encompass enhancing efficiency in claims settlement process.

Bank Negara said the objective was to ensure that all claims would be settled within six to 18 months, compared with the present average lead time of up to five years.

As part of an initiative to enhance the efficiency, Bank Negara said it would introduce a motor insurance claims kit to expedite notification of an accident and claims as well as the establishment of a nationwide 24-hour call centre to provide immediate roadside assistance to accident victims in the first quarter.

The central bank is also working on a review of legal fees in bodily injury cases, measures to incentivise early claims notification and leverage on hospital counters to facilitate claims notification as well as the development of guidelines on long-term nursing care.

These initiatives are targeted for completion by June.

Source : http://biz.thestar.com.my/news/story.asp?file=/2012/1/7/business/10219151&sec=business#13299210785551&if_height=384

Semak NCD secara percuma

Selain melalui SMS, anda boleh gunakan secara online. Perkhidmatan ini disediakan oleh MyCarInfo  untuk kemudahan pengguna menyemak status NCD terkini.

3 langkah mudah:-

1. Taipkan ISMNCD <ruang kosong> <No. Plat Kereta anda> <ruang kosong> <No IC anda>
2. SMS ke no 36600


** Untuk tentera / polis, masukkan format seperti berikut RF123456 di bahagian No. IC anda

Bagi SMS yang berjaya

1. Caj RM2.00 akan dikenakan pada servis ini.
2. Maklumat seperti berikut akan dipaparkan pada telefon anda.

 

Bagi SMS yang tidak berjaya

 

1. Caj RM0.30 akan dikenakan pada servis ini.
2. Maklumat seperti berikut akan dipaparkan pada telefon anda.
 

RM 0.30: NCD enquiry for <No. Plat Kereta anda> and <No. IC anda> does not match record in system. Kindly check info and resend/contact yr insurer directly. 

Government to implement GST after agreement with business community

JOHOR BAHARU, Feb 14 (Bernama) -- The government will only implement the Goods and Services Tax (GST) after it has received the agreement from the business community including the country's small and medium enterprises.

Until then, there is no specific date for the implementation of the GST, said Deputy Finance Minister Datuk Donald Lim Siang Chai.

"A round table conference will be held with the various chambers of commerce in the middle of this year to get feedback on the matter.

"If the majority of them agree, we will table the bill on the introduction of the GST for second reading in Parliament," he said.

Lim said this to reporters after officiating the Goods and Services Tax Conference 2012 jointly organised by Johor Corporation, Malaysian Association of Tax Accountants (MATA), Royal Malaysian Customs and Institut Pembangunan Pengurusan Johor Sdn Bhd, here Tuesday.

The first reading of the GST bill was done on Dec 16, 2009 at a rate of 4 per cent, however the chambers of commerce reported that 80 per cent of the business community are not ready for its implementation.

Lim also said the GST implementation system for consumers has been undertaken and is nearing completion while a detailed study at the government and companies' level will be done following that.

He said GST is a fairer system as the tax is imposed upon spending or when using services.

"The more we spend, the more tax we will have to pay," he said.

However, exemption from GST is allowed for necessity goods such as rice, flour and sugar.

GST, he added, will expose those involved in shadow economy and place them in the GST system.

Source : http://www.malaysiasme.com.my/index.php/SME-News/Government-to-implement-GST-after-agreement-with-business-community.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+malaysiasme+%28MALAYSIA+SME%E2%84%A2+Online%29

Etiqa raises premium target, eyes top spot

By Rupinder Singh
Published: 2011/10/21

KUALA LUMPUR: Etiqa Insurance and Takaful, the insurance arm of Maybank Group, wants to boost its topline written premium by 75 per cent by 2015, placing it as the number one player in the industry.

Its chief executive officer Hans De Cuyper said the company's gross premium currently stands at RM4.3 billion, putting it a strong number two in the market.

The insurer aims to grow its revenue with focus on employees' benefits and medical plans to become a significant contributor and strengthening its distribution channels.

"It is definitely an achievable target for us, considering our solid financial strength and as we increased our gross written premium from RM2.8 billion in 2006 to RM4.3 billion this year making us a strong number two in the market," he told reporters at a press briefing here yesterday.

Consistent with its growth objective, Etiqa foresees its assets under management increasing by 30 per cent in 2015 to RM30 billion from RM23 billion currently.

Both Etiqa Insurance Bhd (EIB) and Etiqa Takaful Bhd (ETB) are wholly-owned by Mayban Ageas Holdings Bhd, a joint venture between Maybank and Belgium-based Ageas Insurance International.

"Now that our merger master plan is completed, Etiqa can move forward to grow and become a solid third pillar for the Maybank Group by contributing more revenue and higher profitability," De Cuyper said.

Etiqa will leverage on the group's strength and build a wider distribution footprint for its products and services as well as to be the market leader in the industry.

It is also looking at alternative distribution channels and is actively looking at social media as a viable channel of growth.

Another area of opportunity for Etiqa is the soon-to-be-launched new private retirement scheme approved by the Securities Commission.

De Cuyper said Etiqa would "definitely" apply to participate in the new scheme the moment it is introduced.

It is learnt that Etiqa has been developing a new retirement product and plans to launch it in December this year.

Source :  http://www.btimes.com.my/Current_News/BTIMES/articles/ETIQA20/Article/

Etiqa Takaful to expand ops

By Rupinder Singh
Published: 2011/08/22

KUALA LUMPUR: Maybank's Islamic insurance arm, Etiqa Takaful Bhd, is on an acquisition trail to boost its business, both locally and abroad.

Etiqa Takaful commands about 45 per cent of the domestic takaful market and currently carries out business in Brunei, Singapore and Pakistan.

"That (merger and acquisition) is something consistently on the board," Etiqa Takaful's chief executive officer Shahril Azuar Jimin told Business Times in a recent interview.

After gaining almost half of the market share in the country, he said it was important for the operator to balance its business via acquisitions.

"We may look and see here in Malaysia and also at overseas markets. We certainly do not discount that," he said.

Etiqa Takaful has earmarked Indonesia as a likely destination, with tremendous potential for takaful products due to the large Muslim population there.

The Islamic insurer hopes to make its debut in Indonesia by the middle of 2013, leveraging on Maybank's presence in the republic.

Etiqa Takaful is a unit of Mayban Ageas Holdings Bhd (formerly Mayban Fortis Holdings), the insurance and takaful arm of Maybank Group. Ageas is Belgium's largest insurer and operates in 14 countries worldwide.

Maybank has a full fledged Islamic bank (PT Bank Maybank Indocorp (BMI) and a full fledged commercial bank (Bank Internasional Indonesia (BII)) in Indonesia.

Maybank has an ambitious plan of becoming a leading Islamic bank in Asean by 2015, in terms of reach.

Shahril, also Etiqa Ageas Holdings Bhd's chief sales officer, said having Maybank's backing was important in the company's business growth.

"The Maybank element is very important for us. It has made us what we are today. Maybank sees insurance and takaful as a pillar to help propel the group," he added.

The global takaful market presents a vast opportunity for Etiqa Takaful.

Though the takaful market is only 1 per cent of the global insurance market, its global market could reach US$25 billion (RM75 billion) at the end of 2015.

According to Ernst & Young, global takaful contributions are expected to touch US$12 billion at the end of this year from US$9.15 billion in 2010.

For the financial year ended June 30 2010, the top line premium written by Etiqa Ageas Holdings stood at RM4.5 billion while takaful contribution was recorded at RM1.95 billion, placing it as the second largest overall insurer in Malaysia and the number one takaful player in the country, with a pre-tax profit RM422 million.

Source : http://www.btimes.com.my/Current_News/BTIMES/articles/tikatiki/Article/

Shell falls into the red in fourth quarter
Saturday February 18, 2012


PETALING JAYA: Shell Refining Co (Federation of Malaya) Bhd fell into the red when it posted a net loss of RM99.49mil for the fourth quarter ended Dec 31, 2011 compared with a net profit of RM114.66mil a year ago due to weak refining margins.

For the full year, the company incurred a net loss of RM125.74mil compared with a profit of RM106.39mil a year ago. Its revenue for the quarter under review was higher at RM3.37bil compared with RM2.54bil previously.

Source : http://biz.thestar.com.my/news/story.asp?file=/2012/2/18/business/10762528&sec=business#13296399771381&if_height=613