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 […]
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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 […]
Insurer sadly denies your medical claim
Nowadays, with the rising medical cost, a cashless admission medical card, but the insurer sadly denies your medical claim. The insurer cheats. Let us dive in to determine why the insurer denies your medical claim. Firstly, we need to understand the importance of the principle of utmost good faith. This legal notion, known as uberrimae […]
5 Reasons Why You Don’t Want to Buy Life Insurance
5 Reasons Why You Don’t Want to Buy Life Insurance., sadly, just 62% of Malaysians had life insurance in 2021. It implied that 38% of the population is uninsured. Why is this situation so pathetic? Is it the fault of the agent or assured? Not only no insurance, but also inadequate coverage. The average is […]
Why buy Life Insurance, Prospect Distantly Avoid Plague
Why buy Life Insurance, Prospect Distantly Avoid Plague Why buy Life Insurance, Prospect Distantly Avoid Plague at all cost. Regrettably, the Malaysian life insurance penetration is merely 56% of the total population in 2016. It implied that the balance 44% of the citizen is uninsured or not qualified to have life insurance due to inborn […]
Bank wrongly insured different classes of fire insurance
Bank wrongly insured different classes of fire insurance. The working class will always dream to have a roof over their head. In order to archive the goal, they toil hard from dawn to sunset. Some even do moonlight on several jobs in a day. They save every a single penny. They called the modern Zombie […]
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 […]