A Palm Oil Lorry Tanker Crashed Into Your House Can We Claim Fire Insurance? Plunging palm oil lorry tanker crashed into the front portion of the house causing severe impact damage to the hall, situated beside the main road, whom to claim for impact damage? Nowadays, commonly seeing your house crashed by road vehicle, it highlights in […]
Month: February 2017
Utmost Good Faith Binding Between Insured And Insurer Part V
Utmost Good Faith Binding Between Insured And Insurer Part IV Two policies cover the same consignment, small claim response, but the insurer rejected bigger sun insured claim. The story of the insurer not following the Utmost good Faith rule by the insurer. In Malaysia, it is common for the insured or a transporter to protect themselves by […]
Utmost Good Faith Binding Between Insured And Insurer Part IV
Utmost Good Faith Binding Between Insured And Insurer Part IV. The insurer has a bigger role in Utmost Good Faith binding both parties namely the insurer and the insured. Liver Transplant Tragedy Friday, June 7, 2002, on Singapore Strait Time carried the title ” Transplant tragedy: Heartbreak for wife ‘He died not knowing I was […]
Utmost Good Faith Binding Between Insured And Insurer Part III
Utmost Good Faith Binding Between Insured And Insurer Part III. How did the insured make use of the loophole of the Utmost Good Faith? I eager to prove my capacity to earn the non-motor insurance profit commission besides the normal agent commission during my first year begin as an agent/broker after I quitted my full-time job […]
Utmost Good Faith Binding Between Insured and Insurer Part II
Utmost Good Faith Binding Between Insured and Insurer Part II. What is Fraudulent Misrepresentation? It is also known as Concealments. Concealments Concealment is closely related to misrepresentation—it is the failure to disclose material information. However, before an insurance company can deny payment for concealment it must prove: the insured knew that the fact was important […]
Utmost Good Faith Binding Between Insured and Insurer
Utmost Good Faith Binding Between Insured and Insurer. What is utmost good faith? It is one the important principle that often overlooks by the agent and the insured. Why is it important? Utmost Good Faith Utmost good faith is a common law principle (sometimes called Uberrimae Fidei). The principle means that every person who enters into […]
Genuine Fire on Building, No Claim Settlement Insurer Denial
Genuine Fire on Building, No Claim Settlement Insurer Denial, No Foul Play exist. Why No claim? When I joined the public listed insurer. The branch manager gave me a heap of a mountain of claim files. I went through diligently till the wee hours of the morning in the cozy comfort of my house. After one month local […]
Banking Secrets Revealed, Why Pay More? Part III
Banking Secrets Revealed, Why Pay More? Part III. What is Indemnity? Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. The right to indemnity and the duty to indemnify […]
Banking Secrets Revealed, Why Pay More? Part II
Banking Secrets Revealed, Why Pay More? Part II. Please refer to my Banking Secrets Revealed, why pay more? Can the ground that erected your house can fire it down? When you buy a landed property, be it freehold or leasehold, the housing developer will charges you the land price too. In Malaysia, it is charged […]
Insurers Idnemnity New for Old Electrical Appliances?
Insurers Indemnity New for Old Electrical Appliances? Can you believe it? If insurers do pay your claim.The public would have two responses.” I….s that tr…….ue? Martin asked with his unbelievable eye. ” Yes, my Led Television which I brought in 2014, the recent lightning damaged it, the insurer paid me the 2017 current price” Mary […]