PERSATUAN INSURANS AM MALAYSIA - · PDF filePERSATUAN INSURANS AM MALAYSIA (General Insurance Association of Malaysia) The Persatuan Insurans Am Malaysia ... Mr. Francis Lai (Progressive

PERSATUAN INSURANS AM MALAYSIA(General Insurance Association of Malaysia)

The Persatuan Insurans Am Malaysia (PIAM) was formed in May 1979 in compliance with Section 3(2)of the Insurance Act, 1963. (This provision has been superceded by Section 22 of the Insurance Act, 1996).

PIAM constitutes the statutory association recognised by the Government of Malaysia for all registered insurers who transact general insurance business in this country.

The key objects and powers of PIAM are :-

• To promote the establishment of a sound insurance structure in Malaysia in co-operation and consultation with Bank Negara Malaysia.

• To promote and represent the interests of members in or connected with Malaysia by all means and methods consistent with the laws and Constitution of Malaysia.

• To render to members where possible such advice or assistance as may be deemed necessary and expedient.

• To take note of events, statements and expressions of opinion affecting members, to advise them thereon and represent their interests by expression of views thereon on their behalf as may be deemed necessary and expedient.

• To work as far as possible in co-operation with other similar associations elsewhere in the world.

• To circulate information likely to be of interest to members and to collect, collate and publish statistics and any other relevant information relating to general insurance.

• To work in conjunction with any legal body or any chamber or committee or commission appointed or to be appointed for consideration, framing, amendment or alteration of any law relating to insurance.

• To organise and manage arrangements and matters of common interest, concern or benefit to members or any group of members and to collect and manage funds for the same.

• To make rules, regulations and bye-laws in accordance with these Articles in consultation with Bank Negara Malaysia.

CORPORATE INFORMATION

CHAIRMAN

Mr.ChuaSeckGuan

ACTING EXECUTIVESECRETARY

Ms.MahinderKaur

BANKERS

HongLeongBankBerhad

150,JalanTunSambanthan

50470KUALALUMPUR

AUDITORS

SJGrantThornton

Level11,SheratonImperialCourt

JalanSultanIsmail

50250KUALALUMPUR

REGISTERED OFFICE3rdFloor,WismaPIAM

150,JalanTunSambanthan

50470KUALALUMPUR

Management Committee 2012/2013

Representatives in other Organisations

Sub-Committee Members 2012/2013

REPORT OF THE MANAGEMENT COMMITTEE 2012/2013 BUSINESS RESULTS

Key Figures of the General Insurance Industry, 2012/2013

ACTIVITIES OF PIAM

Developments in the General Insurance Industry

MARKET INFORMATION

List of Members

Insurance Indicators

CONTENTS02040510

13

41

45

Persatuan Insurans Am Malaysia

Seated (left to right) : Mr. Francis Lai (Convenor, Education/HRD), En. Hashim Harun (Chairman, 26th EAIC Organizing Committee), Mr Chua Seck Guan (Chairman), Mr. Kong Shu Yin (Deputy Chairman, Convenor, Motor).

Standing (left to right) : Mr. Wong Ah Kow (Convenor, Fire), Dr. Michael Heng Kiah Ngan (Convenor, Task Force on CA & PDPA), Mr. Karl Hamann (Convenor, Non-Tariff), Mr. David Tan See Dip (Convenor, Finance and Corporate Governance/ERM), Mr. K. Rohan (Convenor, Public Relations/CSR), Ms. Mahinder Kaur (Acting Executive Secretary), En. Kamaludin Ahmad (Co-opted Convenor, Claims Management).


Annual Report 20122

2012/2013PIAM ManagementCommittee

Chairman

Mr. Chua Seck Guan (from 31st October 2012)(MSIG Insurance (Malaysia) Bhd)

Mr Wong Kim Teck (from 23rd April to 30th October 2012)(Kurnia Insurans (Malaysia) Berhad)

Deputy Chairman

Mr. Kong Shu Yin (from 31st October 2012) (RHB Insurance Berhad)

Mr. Chua Seck Guan (from 23rd April to 30th October 2012)(MSIG Insurance (Malaysia) Bhd)

Members

Mr. Wong Ah Kow(Asia Capital Reinsurance (Malaysia) Sdn Bhd)

En. Kamaludin Ahmad(Etiqa Insurance Berhad)

Mr. Rohan Kananathan (Hannover Rueckversicherung AG Malaysia Branch)

En. Hashim Harun(Malaysian Reinsurance Berhad)

Mr. Francis Lai(Progressive Insurance Bhd)

Mr. Karl Hamann(QBE Insurance (Malaysia) Berhad)

Dr. Michael Heng Kiah Ngan(Tokio Marine Insurans (Malaysia) Berhad)

Mr. David Tan See Dip(Uni.Asia General Insurance Berhad)


Annual Report 2012 3

2012/2013PIAM ManagementCommittee

REPRESENTATIVES IN OTHER ORGANISATIONS

1. Asean Insurance Council

Mr. Chua Seck Guan (MSIG Insurance (Malaysia) Bhd)

2. Financial Mediation Bureau


3. Malaysian Motor Insurance Pool (MMIP)

Mr. Kong Shu Yin (RHB Insurance Bhd)

4. Malaysia Rating Corporation Bhd (MARC)


5. National Committee On Managed Care

Ms. Christine Teh Chooi Hoon (Berjaya Sompo Insurance Berhad)

Mr. Lee Swee Hua (Alternate) (American International Assurance Bhd)

6. National Payments Advisory Council (NPAC) Mr. Chua Seck Guan (MSIG Insurance (Malaysia) Bhd)

7. National Road Safety Council

Ms. Mahinder Kaur (Persatuan Insurans Am Malaysia)

8. National Transit Transport Coordinating Committee (Protocol 5)

Mr. Tan Eng Leong (Persatuan Insurans Am Malaysia)

9. The Malaysian Insurance Institute

Mr. Francis Lai (Progressive Insurance Bhd)


Annual Report 20124

OrganisationsRepresentativesIn Other

SUB-COMMITTEE MEMBERS 2011/2012

AGENCY AFFAIRS AND OTHER DISTRIBUTION CHANNELS SUB-COMMITTEE

CLAIMS MANAGEMENT-SUB COMMITTEE

Convenor

(Vacant)

Deputy Convenor

Mr. Charlie Hah Kee Leong (MCIS Zurich Insurance Berhad)

Members

Mr. Jeremy Yeap Cheng Sun(AXA Affin General Insurance Berhad)

Mr. Chong Kok Kuan(Berjaya Sompo Insurance Berhad)

Mr. Ronnie Lee Seong Kar(Etiqa Insurance Berhad)

Ms. Grace Quah Seok Chen(Kurnia Insurans (Malaysia) Berhad)

Mr. Chuang Chee Hing(Lonpac Insurance Bhd)

Mr. Teoh Guan Huat(MSIG Insurance (Malaysia) Bhd)

Mr. Goay Peng Hock (Overseas Assurance Corporation (Malaysia) Berhad)

Mr. Maxs Ho Chia Seong(RHB Insurance Berhad)

Convenor

En. Kamaludin Ahmad(Etiqa Insurance Berhad)

Deputy Convenor

Mr. Alan Ho Shao Yan(Zurich Insurance Malaysia Berhad)

Members

Ms. Jennifer Chong Siew Ching(American International Assurance Bhd)

Mr. Stephen Beatty(AmG Insurance Berhad)

Mr. Jude Glen Gonsalvez(Berjaya Sompo Insurance Berhad)

En. Muhammad Azlan Noor b. Che Mat(Etiqa Insurance Berhad)

Mr. Iyngkaran a/l Veloo (MCIS Zurich Insurance Berhad)

Ms. Tan Sock Yee(Malaysian Reinsurance Berhad)

Mr. Harminder Singh(MSIG Insurance (Malaysia) Bhd)

Tn. Hj. Johari Nordin(Progressive Insurance Bhd)

Mr. Jaspal Singh s/o Lall Singh(QBE Insurance (Malaysia) Berhad)

Mr. Vijaya Kumar(Tokio Marine Insurans (Malaysia) Bhd)

Ms. Irene Loo Siew Mee(Uni.Asia General Insurance Berhad)



2012/2013SUB-Committee Members

Convenor

Mr. Francis Lai(Progressive Insurance Bhd)

Deputy Convenor

Mr. Bernad Ong (MSIG Insurance (Malaysia) Bhd)

Members

Mr. Tan Choon Hock(American International Assurance Bhd)

En. Mohd Jafni Bin Abdul Jalil(Etiqa Insurance Berhad)

Mdm Lee Khim Kee(Kurnia Insurans (Malaysia) Berhad)

En. Jaimin Kamin(Progressive Insurance Bhd)

Ms. Jackline Pillai(Uni.Asia General Insurance Berhad)

En. Hairul Helmi(Malaysian Insurance Institute)

Mr. Freddie Phoon(Malaysian Insurance Institute)

En. Kamarulzaman Hassan(Asian Institute of Finance)

Convenor

Mr. David Tan See Dip(Uni.Asia General Insurance Berhad)

Deputy Convenor

Mr. Ng Seng Khin(Lonpac Insurance Bhd)

Members

Mr. Raymond Cheah Beng Chye(Etiqa Insurance Berhad)

Ms. Dang Mei Yin(Kurnia Insurans (Malaysia) Berhad)

Ms. Soo Wai Har(AIG Malaysia Insurance Bhd)

Mr. David Oo(American International Assurance Bhd)

En. Mohd Radzuan Mohamed(Malaysian Reinsurance Berhad)

Ms. Khoo Sook Hooi(Overseas Assurance Corporation (Malaysia) Berhad)

Ms. Kan Poh Yee(Progressive Insurance Bhd)

Ms. Seng Soo Wy(QBE Insurance (Malaysia) Berhad)

Ms. Rathiga a/p Ortchuan(Uni.Asia General Insurance Berhad)

Ms. Siow Lee Tau(Zurich Insurance Malaysia Berhad)

EDUCATION/HRD SUB-COMMITTEE FINANCE AND CORPORATE GOVERNANCE / ERM SUB-COMMITTEE


Annual Report 20126

Convenor

Mr. Wong Ah Kow(Asia Capital Reinsurance (Malaysia) Sdn Bhd)

Deputy Convenor

En. Eddy Azly Abidin(Lonpac Insurance Bhd)

Members

Mr. Ong Hong Keat(AXA Affin General Insurance Berhad)

Pn. Nur Basmin Md Amin(Etiqa Insurance Berhad)

Ms. Ong Sow Ming(Kurnia Insurans (Malaysia) Berhad)

En. Musi Kadim(Malaysian Reinsurance Berhad)

Ms. Chin Siew Chi(Munchener Ruckversicherungs-Gesellschaft Malaysia Branch)

Mr. Clifford Wong Kooi Weng(Overseas Assurance Corporation (Malaysia) Berhad)

Mr. Yong Moh Peng(Progressive Insurance Bhd)

Ms. Wendy Tan Mei Wei(Swiss Reinsurance Company Ltd)

Mr. Vidhyanandh a/l Benjamin Samuel(Tokio Marine Insurans (Malaysia) Berhad)

Mr. Jayaparagasam a/l Murugunen(Uni.Asia General Insurance Berhad)

Ms. Teresa Wong Lai Fun(Zurich Insurance Malaysia Berhad)

Convenor

Mr. Kong Shu Yin(RHB Insurance Berhad)

Deputy Convenor

Mr. Jimmy Tan Ooi Chai(Allianz General Insurance Company (Malaysia) Berhad)

Members

Mr. Stephen Beatty(AmG Insurance Berhad)

Mr. James Choi Weng Hon(Berjaya Sompo Insurance Berhad)

En. Mohd Izaz bin Othman (Etiqa Insurance Berhad)

Ms. Elaine Kok Yoke Foong(Kurnia Insurans (Malaysia) Berhad)

Mr. Rajinder Mohan(Malaysian Reinsurance Berhad)

Mr. Eric Tay Chee Chiang(MCIS Zurich Insurance Bhd)

Ms. Sophia Chan Soi Fong(MSIG Insurance (Malaysia) Bhd)

Mr. Woo Mun Kong(Overseas Assurance Corporation (Malaysia) Berhad)

Ms. Chan Cheng Sim(Pacific & Orient Insurance Co. Berhad)

Ms. Belinda Ng Wei Keng(Tokio Marine Insurans (Malaysia) Berhad)

Mr. Peter Ong Wooi Loon(Uni.Asia General Insurance Berhad)

Mr. Sia Chon Ming(Zurich Insurance Malaysia Berhad)

FIRE SUB-COMMITTEE MOTOR SUB-COMMITTEE



ConvenorMr. Karl Hamann(QBE Insurance (Malaysia) Berhad)

Deputy ConvenorMr. Manogaran Sinnathamby(MSIG Insurance (Malaysia) Bhd)

MembersMr. Au Chee Keong(American International Assurance Bhd)

Mr. Raymond Lian Yin Chon(AXA Affin General Insurance Bhd)

Ms. Louise Lee(AIG Malaysia Insurance Berhad)

Ms. Christine Teh Chooi Hoon(Berjaya Sompo Insurance Berhad)

En. Ku Shaheran bin Kuddan(Etiqa Insurance Berhad)

Mr. David Chang Kok Fah(Kurnia Insurans (Malaysia) Berhad)

Mr. Rudy Andrew Jeyaraj(Malaysian Reinsurance Berhad)

Ms. Audrey Lee(Munchener Ruckversicherungs-Gesellschaft Malaysia Branch)

Mr. Kevin Choong Wui Teck(Overseas Assurance Corporation (Malaysia) Berhad)

Ms. Kathleen Chan Hwa Choo(Progressive Insurance Bhd)

Ms. Lum Sau Mei (Progressive Insurance Bhd)

Mr. Matthews a/l George(Uni.Asia General Insurance Berhad)

Mr. Steven Lim Nam Teng(Zurich Insurance Malaysia Berhad)

Convenor

Mr. Rohan Kananathan(Hannover Rueckversicherung AG Malaysia Branch)

Deputy Convenor

Pn. Noorazimah Tahir(Malaysian Reinsurance Berhad)

Members

Mr. Ganeswaran Subramaniam(AIG Malaysia Insurance Berhad)

Ms. Ashley Khoo(Etiqa Insurance Berhad)

Ms. Valerie Ann Fernandez(Uni.Asia General Insurance Berhad)

Pn. Roziana Mohd Yatim(Zurich Insurance Malaysia Berhad)

NON-TARIFF SUB-COMMITTEE PUBLIC RELATIONS / CSR SUB-COMMITTEE


Annual Report 20128

Convenor

Dr. Michael Heng Kiah Ngan(Tokio Marine Insurans (Malaysia) Berhad)

Deputy Convenor

Mr. Looi Kong Meng (Lonpac Insurance Bhd)

Members

Ms. Agnes Chow(Allianz General Insurance Company (Malaysia) Berhad)

YBhg Datin Veronica Selvanayagy(American International Assurance Bhd)

Pn. Aisah Bevi Abdul Rahman(AXA Affin General Insurance Berhad)

En. Zef Zalmab bin Mohd Zamri(Etiqa Insurance Berhad)

Mr. Senthil Woon Wai Kong(ING Insurance Berhad)

Ms. Gan Sye Ni(MSIG Insurance (Malaysia) Bhd)

Mr. Tony Toh Choon Ti(Prudential Assurance Malaysia Berhad)

Mr. Chia Seong Eng(Tokio Marine Insurans (Malaysia) Berhad)

Ms. Asha a/p M. Verghese Thomas(Uni.Asia General Insurance Berhad)

Convenor

Mr. Benedict Majin (Progressive Insurance Bhd)

Members

Mr. Chin Vun Fong (Berjaya Sompo Insurance Berhad)

Mr. Michael Wong Ho On(Uni.Asia General Insurance Berhad)

Mr. Liew Chi Fui (Zurich Insurance Malaysia Berhad)

TASK FORCE ON COMPETITION ACT & PERSONAL DATA PROTECTION ACT

SABAH LIAISON GROUP

SARAWAK LIAISON GROUP

Convenor

Mr. Sebastian Davis Paul (Tune Insurance Malaysia Berhad)

Members

Mr. Alex Ong Liang Liang(Berjaya Sompo Insurance Berhad)

Mr. Wong Shon Kwang(RHB Insurance Berhad)

Mr. Eric Tan Hui Chuing(Uni.Asia General Insurance Berhad)

Mr. Hong Swee Leong(Zurich Insurance Malaysia Berhad)



MANAGEMENT COMMITTEE REPORT 2012/2013

We have pleasure in presenting the 2012/2013 Report of the Management Committee. The report provides an overview of the general insurance industry and highlights of the activities of the Association for the period under review.

Looking back, 2012 was a year which saw the advanced countries in the world struggling amidst seemingly unending economic and financial uncertainty. Notwithstanding the continued challenges in the global environment, domestic demand continued to expand at the pace of 7.5% in the fourth quarter of 2012. For the year as a whole, the Malaysian economy has expanded by 5.6% compared to 5.1% in 2011. The sustained expansion in domestic activity is expected to continue to drive growth of the Malaysian economy, supported by the sustained private sector expansion. The stabilization of external conditions is also expected to lend support to our economic growth prospects.

According to a World Bank report, Malaysia’s economy has been resilient and would likely weather a weak global environment and at the same time grow robustly, with real gross domestic product (GDP) growth estimated at 5% in 2013.

The Ministry of Finance has also forecasted a positive outlook by stating that the prospects for the services sector are expected to remain upbeat with the accelerated implementation of key initiatives under the National Key Economic Areas (NKEAs) which expect the finance and insurance sectors to grow by 5.2% in 2013.

Kami dengan bangganya mengemukakan laporan tahunan 2012/2013 yang memberi gambaran keseluruhan mengenai perkembangan industri insurans am dan aktiviti - aktiviti Persatuan dalam masa ini.

Meninjau kembali, 2012 adalah tahun yang menyaksikan negara-negara maju di dunia bergelut di tengah-tengah ketidaktentuan ekonomi dan kewangan. Walau apapun cabaran yang berterusan dalam persekitaran global, permintaan dalam negeri terus berkembang pada kadar 7.5% pada suku ke empat 2012. Bagi tahun 2012 secara keseluruhan, ekonomi Malaysia telah berkembang sebanyak 5.6% berbanding 5.1% pada tahun 2011. Pengembangan yang berterusan dalam aktiviti domestik dijangka terus memacu pertubuhan ekonomi Malaysia, disokong oleh sektor swasta yang mampat. Kestabilan persekitaran luaran juga dijangka memberi sokongan kepada prospek pertubuhan ekonomi kita.

Menurut laporan Bank Dunia, ekonomi Malaysia telah berdaya tahan dan mungkin akan mengharungi persekitaran global yang lemah dan pada masa yang sama berkembang dengan kukuh, mencapai pertumbuhan Keluaran Dalam Negara Kasar (KDNK) benar pada kadar 5% pada tahun 2013.

Kementerian Kewangan juga telah mengamalkan prospek positif dengan menyatakan bahawa prospek bagi sektor perkhidmatan dijangka kekal yakin dengan perlaksanaan dipercepatkan bagi inisiatif utama di bawah Bidang-bidang Ekonomi Utama Negara (NKEAs) yang menjangkakan pertumbuhan sektor kewangan dan insurans meningkat sebanyak 5.2% pada tahun 2013.

LAPORAN JAWATANKUASA PENGURUSAN 2012/2013

BUSINESS REPORT LAPORAN PERNIAGAAN


Annual Report 201210

Association Membership As at 1st April 2013, the Association had 31 members comprising licensed general insurance and reinsurance companies operating in Malaysia. There were 19 general insurers, 6 composite insurers and 6 general reinsurers. Out of the 31 member companies, 16 were domestic operations whilst 15 were foreign owned.

PETUNJUK UTAMA INDUSTRI INSURANS AM 2012/2013

KEY FIGURES OF THE GENERAL INSURANCE INDUSTRY 2012/2013

Keahlian Persatuan

Sehingga 1hb April 2013, Persatuan ini mempunyai 31 ahli yang terdiri daripada syarikat-syarikat insurans am berlesen dan syarikat-syarikat insurans semula yang beroperasi di Malaysia. Terdapat 19 buah syarikat am, 6 syarikat komposit dan 6 penginsurans semula am. Daripada 31 ahli ini, 16 buah syarikat merupakan syarikat tempatan manakala 15 lagi adalah syarikat milik asing.

Prestasi Perniagaan Insurans AmPada tahun 2012, industri insurans am mencatatkan pertumbuhan sebanyak 8.2% dalam premium bertulis kasar mencapai RM15.180 billion berbanding peningkatan 7.85% (RM14.029 billion) pada tahun 2011. Premium bersih meningkat pada kadar 8.3% mencapai RM10.528 billion.

Pecahan Pasaran Insurans Am

Dari segi pecahan pasaran, Sektor Motor mencatatkan bahagian terbesar sebanyak 46.6% (2011:46.4%), diikuti Sektor Kebakaran pada 16.4% (2011:16.5%) Sektor Motor dan Kebakaran masing-masing mencapai peningkatan dalam premium bertulis kasar sebanyak 9.3% sehingga RM6.978 billion (2011:RM6.382 billion, 6.93%) dan 7.2% sehingga RM2.571 billion (2011: RM2.399 billion, 4.67%). Sektor CAR & ENG juga mencatatkan kenaikan sebanyak 16.4% dalam premium kasar mencapai RM0.610 billion berbanding RM0.524 billion pada tahun 2011.

General Insurance Business Performance

In 2012, the general insurance industry registered a growth of 8.2% in gross premiums to reach RM15.180 billion compared to the increase of 7.85% (RM14.029 billion) in 2011. Net premiums grew at a rate of 8.3% to reach RM10.528 billion.

General Insurance Business Market Share

In terms of market share, Motor Insurance recorded the largest share at 46.6% (2011: 46.4%), followed by Fire at 16.4% (2011:16.5%).

The Motor and Fire classes of business achieved an increase in gross written premium of 9.3% to reach RM6.978 billion (2011: RM6.382 billion, 6.93%), and 7.2% to reach RM2.571 billion (2011: RM2.399 billion, 4.67%) respectively. The Contractors All Risk and Engineering (CAR & ENG) class of business also recorded an improvement of 16.4% to reach RM0.610 billion in gross premiums compared to RM0.524 billion in 2011.

2012Reinsurers: 6

Composite: 8

General: 18

Composite: 6

Reinsurers: 62013

General: 19



Bonds: 0.3%

WC & EL: 1.3%Offshore:

4.4%Liability: 3.0%

CAR & ENG: 3.6%Marine Hull: 1.7%

PA: 8.2%

Medical: 6% Motor: 46.4%

Fire: 16.5%Others: 4.3%

Aviation: 0.9%Cargo: 3.4%

2011

Net Claims Incurred Ratios (NCIR) By Sectors

Medical: 5.9%

Fire: 16.4%Others: 4.4%

Aviation: 0.6%Cargo: 3.4%Bonds: 0.4%

Offshore: 4.3%WC & EL: 1.4%

Liability: 3.2%

CAR & ENG: 3.9%

Marine Hull: 1.7%

PA: 7.9%

2012

Motor: 46.6%

The overall Net Claims Incurred Ratio (NCIR) was on a downward trend in 2012 as it dropped to 57.1% from 60.7% in 2011. The overall Motor NCIR decreased slightly to 72.8% (2011: 76.8%), whilst Medical and P.A. both dropped to 55.6% and 28.9% respectively.

The NCIR for “Motor Act” cover (i.e. cover for compulsory third party bodily injury and death liabilities), dropped this year to 262.1% from 287.58% in 2011.

90.0%

80.0%

70.0%

60.0%

50.0%

40.0%

30.0%

20.0%

10.0%

0.0%

Fire

Mot

or

Med

ical

Pers

onal

Acci

dent

MAT

CAR

&EN

G

Liab

ility

WC

& E

L

Oth

ers

30.8%

27.8%

76.8% 72.8%

64.4%

55.6%

31.5% 28.9%

38.8%

29.9%

45.8%

57.3%

41.1%

29.7%

14.4%16.0%

46.5%47.9%

2011

CLAIMS RATIO BY SECTORS2012

Nisbah Tuntutan Bersih Kena Bayar (NCIR) Mengikut Sektor

Pada keseluruhannya, nisbah tuntutan bersih kena bayar menunjukkan trend menurun pada 2012 kepada 57.1% daripada 60.7% pada tahun 2011. NCIR bagi Sektor Motor pada keseluruhannya menurun sedikit kepada 72.8% (2011: 76.8%) manakala Sektor Perubatan dan Sektor Insurans Kemalangan Diri masing-masing merosot kepada 55.6% dan 28.9%.

NCIR bagi perlindungan “Akta Motor” (iaitu perlindungan wajib bagi kecederaan anggota badan bagi pihak ketiga dan liabiliti kematian), pada tahun ini menurun kepada 262.1% daripada 287.58% dalam 2011.



Industr i insurans telah merekodkan margin pengunderaitan sebanyak 12.6% berjumlah RM1.690 billion berbanding 9.8% berjumlah RM1.266 billion pada tahun 2011. Walaubagaimanapun, perbelanjaan pengurusan dan nisbah komisen syarikat-syarikat insurans telah meningkat kepada 30.3% daripada 29.5% berbanding tahun sebelumnya.

Akta Perkhidmatan Kewangan 2013

Akta Perkhidmatan Kewangan 2013 (FSA) yang akan berkuatkuasa pada 2hb May 2013 merupakan satu langkah ke arah yang berpatutan dalam usaha untuk mengukuhkan sektor kewangan negara. Akta ini yang diluluskan oleh Parlimen pada 19hb December 2012 bertujuan menggalakkan kestabilan kewangan, memperkukuhkan pengawalseliaan institusi kewangan dan melaksanakan cadangan di bawah Program Penilaian Sektor Kewangan (FSAP). Faktor-faktor ini adalah penting bagi pembangunan mampan di negara ini dan ia jelas membuktikan usaha berterusan Bank Negara Malaysia (BNM) untuk meningkatkan pengawalan dan penyeliaan sektor kewangan.

Generally, the NCIR for most classes of business showed a downward trend in 2012, except for CAR & ENG, which recorded an increase from 45.8% to 57.3% in 2012.

Underwriting Margin

Secara am, NCIR untuk kebanyakan kelas perniagaan menunjukkan trend menurun pada 2012, kecuali bagi CAR & ENG, yang menunjukkan peningkatan daripada 45.8% kepada 57.3% pada tahun 2012.

Margin Pengunderaitan

U/WRITINGMARGIN: 9.8%

COMMISSIONS:9.6%

MANAGEMENTEXPENSES: 19.9%

MANAGEMENT EXPENSESCOMMISSIONS

NET CLAIMSUNDERWRITTING MARGIN

2011

NET CLAIMS:60.7%

2012U/WRITINGMARGIN: 12.6%

COMMISSIONS:9.9%

MANAGEMENTEXPENSES: 20.4%

MANAGEMENT EXPENSESCOMMISSIONS

NET CLAIMSUNDERWRITTING MARGIN

NET CLAIMS:57.1%

The general insurance industry recorded an underwriting margin of 12.6% amounting to RM1.690 billion compared to 9.8% amounting to RM1.266 billion in 2011. However, the combined management expenses and commissions ratio of insurance companies had increased to 30.3% from 29.5% compared to the year before.

Financial Services Act 2013

The Financial Services Act 2013 (FSA) which is proposed to come into effect on 2nd May 2013 is a step in the right direction to strengthen the country’s financial sector. The Act passed in the Parliament on 19th December 2012 is aimed at promoting financial stability, to strengthen regulation of financial institutions and to implement recommendations under the Financial Sector Assessment Program (FSAP). These factors are imperative for sustainable development in the country and reflect clearly Bank Negara Malaysia’s (BNM) continuous effort in improving the regulation and supervision of the financial sector.

DEVELOPMENTS IN THE GENERAL INSURANCE INDUSTRY

PERKEMBANGAN DALAM INDUSTRI INSURANS AM



With the coming into operation of FSA and Islamic Financial Services Act (IFSA), the existing laws i.e. the Banking and Financial Institutions Act 1989, Insurance Act 1996, Payment Systems Act 2003, Exchange Control Act 1953, Islamic Banking Act 1983 and the Takaful Act 1984 will be repealed. For the Insurance Act, sections 147(4) and 147(5), 150, 151 and 144 of this Act will remain in force and will be repealed at a later date, whilst other sections will no longer be applicable.

The FSA supports the existing risk and outcome focused approach to regulation and supervision and will adopt measures which are less prescriptive. It aims to promote clarity between standards, to promote sound risk management and governance arrangements and enhance the ability of BNM to undertake early corrective and remedial action to address safety and soundness concerns. The Act also allows BNM to exercise its power to enforce civil or administrative sanctions on financial institutions on non-compliance.

Some of the salient areas which will affect insurers are:-

1) Conversion to a single type of insurance business – Prohibition on insurers (excluding professional

reinsurers) to carry on both life and general insurance business.

– Composite insurers (excluding professional reinsurers) to convert to single insurance business to comply with Section 16 of the Act within 5 years from commencement date of the Act.

2) Restriction on payment of dividend – Approval requirement for payment of

dividends is streamlined across all licensed insurers.

– In considering applications for payment of dividends, BNM shall consider prevailing and respective financial conditions of licensed insurers, including ability to comply with any standards on capital adequacy.

3) Approvals are also required for appointed actuary, which has been extended to general insurance. The actuary will be required to meet the requirements, qualifications and perform duties as specified in standards.

Dengan penguatkuasaan FSA dan Akta Perkhidmatan Kewangan Islam (IFSA), undang-undang yang sedia ada seperti Akta Perbankan dan Institusi Kewangan 1989, Akta Insurans 1996, Akta Sistem Pembayaran 2003, Akta Kawalan Pertukaran 1953, Akta Perbankan Islam 1983 dan Akta Takaful 1984 akan dimansuhkan. Bagi Akta Insurans, seksyen-seksyen 147(4) dan 147(5), 150, 151 dan 144 masih dikekalkan dan akan dimasuhkan kemudian, sementara lain-lain seksyen tidak akan digunakan.

FSA memberi sokongan kepada pendekatan tertumpu risiko dan natijah yang sedia ada terhadap pengawalan dan penyeliaan dan akan mengambil langkah-langkah yang kurang preskriptif. Ia bertujuan untuk menggalakkan kejelasan antara piawai, menggalakkan pengurusan risiko yang mantap dan pengaturan tadbir urus, dan meningkatkan keupayaan BNM untuk mengambil tindakan pembetulan dan pemulihan awal untuk menangani kebimbangan tentang keselamatan dan kekukuhan. Akta tersebut juga membolehkan BNM menguatkuasakan sekatan sivil atau pentadbiran ke atas institusi-institutsi kewangan dalam hal-hal ketidakpatuhan.

Beberapa bidang utama yang akan memberi kesan kepada penanggung insurans adalah:-

1) Penukaran kepada jenis perniagaan insurans tunggal

– larangan terhadap penanggung insurans (tidak termasuk penanggung insurans semula profesional) untuk menjalankan kedua-dua perniagaan insurans hayat dan am.

– syarikat-syarikat insurans komposit (tidak termasuk penanggung insurans semula profesional) akan bertukar kepada perniagaan insurans tunggal untuk mematuhi Akta seksyen 16 dalam tempoh 5 tahun daripada tarikh permulaan kuatkuasa Akta.

2) Sekatan keatas pembayaran dividen – Keperluan kelulusan bagi pembayaran

dividen adalah diselaraskan ke atas semua penanggung insurans berlesen.

– Dalam pertimbangan permohonan-permohonan untuk pembayaran dividen, BNM akan mempertimbangkan keadaan semasa dan keadaan kewangan masing-masing penanggung insurans berlesen,



4) Approval from BNM will also be required for acquisition or holding of material interest in a corporation. In addition to approval requirement for establishment or acquisition of subsidiaries, licensed insurers will also be required to obtain approval for acquisition or holding of material interest in corporations.

5) Approval for fit and proper requirements for key responsible persons with specific approval for appointment of Chairman. A key responsible person who no longer complies with fit and proper requirements shall immediately cease to hold office.

6) There are also amendments to the automatic disqualification criteria for chairman, director, chief executive officer and senior officers of a company which are specified in the Act.

7) There will be a codification of board responsibilities to reflect specific responsibilities of the Board of Directors of a company which shall have regard to the interests of depositors or policy owners of the institution.

8) The reporting obligation of the auditor will be expanded wherein the auditor will report to BNM if in the course of carrying out his duties he is satisfied that there has been non-compliance of standards, weakness in internal controls or the financial position of the institution is likely to be or has been materially affected by any event, conduct of activity or weakness of internal controls.

9) The Act also stipulates specific business conduct requirements which will be specified by BNM to promote consumer protection through fair, responsible and professional dealings with customers. The Act also prohibits unfair or deceptive business conduct with less onerous pre-contractual duty of disclosure for the consumer. The interests of insurers are also protected in this instance with specific remedies for resolving non-disclosure issues.

termasuk keupayaan untuk mematuhi piawaian-piawaian kecukupan modal.

3) Kelulusan juga diperlukan bagi aktuari dilantik, yang telah dilanjutkan kepada sektor insurans am. Aktuari akan diperlukan untuk memenuhi keperluan, kelayakan dan melaksanakan tugas-tugas sebagaimana yang dinyatakan dalam piawaian.

4) Kelulusan daripada BNM akan juga diperlukan untuk pemerolehan atau pegangan kepentingan dalam sebuah perbadanan. Di samping keperluan kelulusan bagi penubuhan atau pemerolehan subsidiari, penanggung insurans berlesen juga akan diperlukan untuk mendapatkan kelulusan bagi pemerolehan atau pegangan kepentingan dalam sesebuah perbadanan.

5) Kelulusan untuk keperluan layak dan sesuai bagi orang-orang utama yang bertanggungjawab, dengan kelulusan khusus untuk pelantikan Pengerusi. Orang utama yang bertanggungjawab yang tidak lagi mematuhi syarat-syarat keperluan layak dan sesuai itu hendaklah dengan serta-merta berhenti memegang jawatan.

6) Terdapat juga pindaan kepada kriteria kehilangan kelayakan automatik untuk pengerusi, pengarah, ketua pegawai eksekutif dan pegawai-pegawai kanan syarikat seperti yang dinyatakan dalam Akta.

7) Akan diadakan juga kodifikasi tanggungjawab-tanggungjawab pihak lembaga syarikat untuk memberi perhatian kepada kepentingan pendeposit atau pemilik-pemilik polisi institusi.

8) Kewajipan laporan juruaudit akan diperluaskan di mana juruaudit akan melaporkan kepada BNM jika dalam proses menjalankan tugasnya beliau percayai bahawa telah terdapat ketidakpatuhan piawaian, kelemahan dalam kawalan dalaman atau kedudukan kewangan institusi mungkin akan terjejas atau telah terjejas dengan ketara akibat daripada kelakuan aktiviti atau kelemahan kawalan dalaman.



9) Akta ini juga menetapkan keperluan khusus kelakuan perniagaan yang akan ditentukan oleh BNM untuk menggalakkan perlindungan pengguna melalui urusan yang adil, bertanggungjawab dan profesional dengan pelanggan. Akta ini juga melarang kelakuan perniagaan yang tidak adil atau memperdayakan dengan mengurangkan tanggungjawab pendedahan pra-kontrak kepada pengguna. Kepentingan penanggung insurans juga dilindungi dalam hal ini dengan cara-cara penyelesaian tertentu ke atas isu-isu bukan pendedahan.

10) Akta ini juga akan memberi kuasa yang baru kepada BNM untuk meluluskan Skim Ombudsman Kewangan (FOS) bagi penyelesaian pertikaian dan ia memerlukan penyedia-penyedia perkhidmatan kewangan untuk menjadi ahli FOS dan mengeluarkan peraturan-peraturan yang berkenaan kepada badan ini.

Akta Persaingan 2010

Satu lagi perkembangan utama yang mempunyai impak yang besar kepada perniagaan dan operasi industri insurans am adalah Akta Persaingan 2010 yang berkuatkuasa pada 1hb Januari 2012.

Bagi memastikan Persatuan ini dan ahli-ahlinya mematuhi sepenuh dengan Akta ini, satu Pasukan Petugas telah ditubuhkan khusus untuk mengenal pasti isu-isu berpotensi dalam operasi Persatuan dan ahli-ahli Persatuan yang akan terjejas oleh perlaksanaan Akta ini. Dengan cadangan daripada penasihat undang-undang, Pasukan Petugas telah mengenal pasti pelbagai bidang yang berpotensi, sebagai contoh amalan penetapan harga melalui tarif, perkongsian maklumat, terma dan syarat di bawah kontrak insurans serta mengehadkan atau mengawal pengeluaran atau akses pasaran yang mungkin terjejas akibat Akta ini.

Dengan maklumat ini Pasukan Petugas telah mula menggubal pelan kerja untuk menangani isu-isu utama dan mengenal pasti cara penyelesaian jangka panjang bagi industri ke arah pematuhan Akta Persaingan.

10) The Act will also accord a new power to BNM to approve a financial ombudsman scheme (FOS) for resolution of disputes and require financial service providers to be members of the FOS and issue regulations applicable to this body.

Competition Act 2010

Another major development which has a wide impact on business and operations of the general insurance industry is the Competition Act 2010 which came into effect on 1st January 2012.

To ensure that the Association and its members are in full compliance with the Act, a Task Force had been set up specifically to identify potential areas in the operations of the Association and its members that will be affected by the Act. The Task Force with input from our legal counsel had identified various potential areas for example the practice of price fixing via the tariffs, information sharing, standard terms and conditions under insurance contracts and limiting, controlling production or market access which may be affected by the Act.

With this information the Task Force had worked on designing a roadmap to address the key issues and identify long term solutions for the industry towards compliance with the Competition Act. In addressing these areas, the Task Force had kept in mind the liberalization of the insurance industry and the introduction of the Financial Service Act 2012.



Pelan kerja tersebut tidak memasukkan pengecualian blok tak terhingga tetapi mencadangkan jangka masa di mana pengecualian-pengecualian ini dikehendaki daripada Suruhanjaya Persaingan, kerana akhirnya niat industri adalah untuk mematuhi sepenuhnya syarat-syarat Akta. Draf pelan kerja telah diluluskan oleh Jawatankuasa Pengurusan PIAM dan kini akan dikongsi bersama dengan syarikat-syarikat ahli untuk mendapatkan maklum balas mereka sebelum ia dikemukakan kepada Suruhanjaya Akta Persaingan.

Rangka Kerja Baru Perlindungan Motor (NWCC)

Satu Jawatankuasa Kerja Bersama (JWC), diketuai oleh BNM, telah ditubuhkan terdiri daripada wakil-wakil dari agensi-agensi penting kerajaan, sektor insurans dan takaful, pengguna dan kumpulan pengangkutan dan juga Majlis Peguam Malaysia. Objektif JWC adalah untuk melihat strategi dua serampang dibawah Rangka Kerja Baru Perlindungan Motor untuk meningkatkan kecekapan dalam peruntukan perlindungan motor termasuk menambah baik accesibiliti pengguna mendapatkan perlindungan motor dan menambahbaik proses penyelesaian tuntutan. Setiap sektor, secara prinsipnya telah memberi komitmen mereka dan persetujuan untuk menambahbaik perkhidmatan masing-masing bila berurusan dengan pengguna berkaitan hal-hal insurans.

Langkah-langkah penambahbaikkan yang dicadangkan oleh JWC adalah mengadakan satu jangka masa untuk mengeluarkan laporan perubatan dan laporan polis bagi mempermudahkan pemberitahuan tuntutan yang cepat, menggalakkan pengantaraan mahkamah atau bebas, mengeluarkan garispanduan-garispanduan bagi bayaran pampasan, kadar faedah penghakiman yang lebih reflektif dengan kadar pasaran, menggalakkan perkhidmatan bantuan guaman, proses pemberitahuan tuntutan yang lebih mudah dengan proses penyelesaian tuntutan yang telus dan juga penubuhan pusat panggilan berpusat untuk membantu mangsa-mangsa kemalangan jalan raya. Ianya dijangka, dengan adanya langkah-langkah ini, tempoh penyelesaian tuntutan akan nyata berkurangan, kebocoran dalam sistem penyelesaian tuntutan dapat diminimakan, peningkatan kesedaran awam atas langkah-langkah yang perlu diambil jika berlaku kemalangan jalan raya dan akan adanya proses yang lebih mudah untuk

The roadmap developed does not incorporate infinite block exemptions but proposes a timeframe for which these exemptions are required from the Competition Commission as ultimately the intention of the insurance industry is to fully comply with the requirements of the Act. The draft roadmap had been adopted by the Management Committee of PIAM and will now be shared with member companies for their feedback before it is forwarded to the Competition Act Commission.

New Motor Cover Framework and the Nationwide Call Centre (NWCC)

A Joint Working Committee (JWC), led by BNM, was formed comprising representatives from key Government agencies, insurance and takaful sectors, consumer and transport groups as well as the Malaysian Bar Council. The objective of this JWC was to look at a two pronged strategy under the New Motor Cover Framework to enhance efficiency in the provision of motor cover including improvement in the accessibility for consumers to obtain motor cover and also the enhancement of claims settlement processes. Every sector, in principle, had given their commitment and undertaking to enhance their respective areas when dealing with consumers on insurance matters.

The enhancement measures proposed by the JWC were the establishment of timelines to produce medical and police reports to facilitate early claims notifications, promote Court or independent mediation, setting up guidelines on compensation awards, judgment interest rates to be more reflective of market rates, promote legal aid services, simpler claims notifications processes with transparent claims settlement processes and also the establishment of a centralized call centre to assist road accident victims. It is anticipated that with these measures in place, claims settlement periods will be reduced significantly, leakages in the claims settlement system will be minimized, greater



mangsa-mangsa kemalangan membuat tuntutan insurans.

JWC telah berjaya menyelesaikan aktiviti-aktiviti berikut:-

• Satu kajian telah dibuat atas kadar faedah pra dan selepas penghakiman selaras dengan rejim kadar faedah semasa. Kadar faedah 4%, daripada kadar faedah 8% sebelum ini telah dilaksanakan oleh badan kehakiman untuk kes-kes yang menerima keputusan penghakiman bermula pertengahan 2011. Kadar faedah ini telah dipinda kepada 5% bermula 1hb Ogos 2012.

• Badan Kehakiman dan Majlis Peguam telah bersetuju untuk memuatkan Ikhtisar Pembayaran Pampasan Kecederaan Diri Sendiri (Compendium of Personal Injury Awards) di laman sesawang khas untuk makluman awam untuk ketelusan dan memudahkan rujukan.

• Badan Kehakiman dan Majlis Peguam juga aktif menggalakkan proses pengangtaraan mahkamah untuk mempercepatkan penyelesaian pertikaian.

• Jangka masa untuk mengeluarkan laporan polis dan laporan kesihatan telah dimasukkan dalam laman sesawang PDRM dan Kementerian Kesihatan (MoH) untuk rujukan mudah orang awam.

• Kementerian Kesihatan juga telah bersetuju untuk membantu penanggung insurans dan peguam dalam kes-kes yang melibatkan pengubahan laporan kesihatan untuk mengurangkan risiko potensi tuntutan berlebihan dan tuntutan palsu.

• Penubuhan pusat panggilan seluruh negeri 24 jam (NWCC) untuk menyediakan bantuan segera dan menyeluruh kepada mangsa-mangsa kemalangan.

Projek NWCC ini dijangka akan dilaksanakan dalam suku kedua 2013 yang mana satu talian mudah, 24 jam untuk seluruh negeri akan disediakan untuk membantu mangsa-mangsa kemalangan.

Faedah-faedah yang akan dinikmati oleh orang awam termasuk:-

• Kemudahan untuk penundaan kenderaan dan perkhidmatan pertanyaan tuntutan untuk pemegang-pemegang polisi pihak ketiga/orang yang boleh membuat tuntutan.

• Mengurangkan insiden ‘touting’ – NWCC akan menggalakkan pengunaan perkhidmatan penundaan dari bengkel-bengkel pembaikan yang diluluskan dibawah skim PARS.

public awareness on steps to be taken following a road accident will be created and there will be simpler processes for victims to make insurance claims.

The JWC has successfully completed the following tasks:-

• A review has been undertaken on the pre- and post-judgment interest rates in line with the prevailing interest rate regime. An interest rate of 4%, instead of the previous 8% was enforced by the Judiciary for cases awarded beginning mid-2011. The interest rate has subsequently been revised to 5% as of 1st August 2012.

• The Judiciary and the Bar Council have agreed for the Compendium of Personal Injury Awards to be uploaded on a dedicated website for the public’s information for transparency and ease of reference.

• The Judiciary and the Bar Council are also actively promoting court mediation processes to speed up dispute resolution.

• Timelines to produce police and medical reports are already in PDRM’s and Ministry of Health’s (MoH) websites for the public’s ease of reference.

• The MoH has also agreed to assist insurers and lawyers in incidents of medical report tampering to reduce risks of potential exaggerated and fraudulent claims.

• Establishment of a 24-hour nationwide call centre (NWCC) to provide immediate and comprehensive assistance to accident victims.

The NWCC project is expected to take off in the 2nd quarter of 2013 where a 24-hour, one single hotline number for the whole country, will be in place to assist accident victims.

The benefits that will be enjoyed by the general public include the following:-

• Access to towing and claims inquiry services for third party policyholders / potential claimants;

• Minimize incidence of touting – the NWCC will promote using towing service from PIAM approved repairers;

• Improve accessibility to information and empower the public to directly engage with industry;

• One single hotline number which can be easily remembered for motor claim services; and



• The NWCC will be able to pass calls to the 999 Response Centre in the event other emergency services like the police or ambulance are required

This will result in greater consumer empowerment in making claims and potentially reducing reliance on intermediaries known to inflate claims.

The benefits for the insurers will be as follows:-

• Early notification of claims especially from third party claimants which will assist the industry to make more accurate reserve estimation;

• Quicker direct access to third party potential claimant and which may allow insurers to settle non-complicated cases earlier;

• Ability to use NWCC to service a third party policyholder for towing of accident vehicles / claims inquiries;

• Match and merge data with data available at the NWCC for better fraud control; and

• Enhance the industry’s image and branding as responsible and caring for public.

This will result in potential reduction in claims cost to industry.

Other initiatives which are being formulated by the JWC include:-

• The introduction of a motor insurance claims kit comprising information on making a claim and a simplified accident notification form;

• Review of legal fees for bodily injury cases;• Leveraging on hospital counters to facilitate claims

notification; and • Developing guidelines on long-term nursing care.

As part of the Framework, the first step of a gradual revision in the Motor Tariff premium rates was implemented on 16th January 2012. Subsequent revision of the rates came into effect on 15th February 2013. The adjustments in the premium rates are expected to be reviewed periodically to ensure that the adjusted premium rates gradually become reflective of the claims experience. The premium adjustments, although small in quantum, are the initial steps towards de-tariffing of the motor insurance business by 2016.

• Mempertingkatkan accesibiliti untuk mendapatkan maklumat dan memberi kuasa kepada orang awam untuk berurusan secara terus dengan industri.

• Satu nombor talian mudah yang senang diingati untuk perkhidmatan tuntutan motor; dan

• NWCC boleh memanjangkan panggilan kepada Pusat Respon 999 jika perkhidmatan kecemasan lain seperti polis dan ambulan diperlukan.

Ini akan menghasilkan penguasaan pengguna yang lebih besar dalam membuat tuntutan dan berpotensi mengurangkan pergantungan kepada orang tengah yang dikaitkan dengan tuntutan berlebihan.

Faedah-faedah untuk penanggung insurans adalah seperti berikut:-

• Pemberitahuan tuntutan awal terutama dari pihak ketiga akan membantu industri membuat penilaian yang lebih tepat untuk peruntukkan (reserve);

• Akses yang cepat dengan penuntut pihak ketiga yang berpotensi, membolehkan penangung insurans menyelesaikan awal kes-kes yang tidak ada komplikasi;

• Keupayaan untuk menggunakan NWCC untuk memberi perkhidmatan kepada pemegang polisi pihak ketiga untuk penundaan kenderaan yang terlibat dalam kemalangan/pertanyaan berhubung tuntutan;

• Semakan dan penggabungan data dengan data sedia ada di NWCC untuk kawalan yang lebih baik atas penipuan (fraud); dan

• Menambah baik imej industri dan nama sebagai mengambil berat terhadap orang awam.

Ini akan menghasilkan potensi pengurangan kos tuntutan kepada industri.

Lain-lain initiatif yang sedang di rumuskan oleh JWC termasuk:-

• Pengenalan Kit tuntutan insurans motor mengandungi maklumat bagaimana membuat sesuatu tuntutan dan borang pemberitahuan tuntutan yang telah dipermudahkan;

• Kajian bayaran perkhidmatan peguam untuk kes-kes kecederaan anggota;

• Menggunakan kemudahan kaunter hospital untuk pemberitahuan tuntutan; dan

• Merangka garispanduan untuk perbelanjaan penjagaan (nursing care) jangka panjang.



Sebagai sebahagian daripada Rangka kerja, tindakan pertama semakan secara beransur-ansur kadar Premium dalam Tariff Motor telah dilaksanakan pada 16hb Januari 2012. Semakan kadar selepasnya berkuatkuasa pada 15hb Februari 2013. Pindaan pada kadar premium akan disemak secara berkala bagi menentukan kadar premium yang dipinda akan lebih reflektif dengan pengalaman tuntutan. Pindaan premium, walaupun kecil dalam amaun, merupakan tindakan awal menuju kepada pasaran tanpa tariff (de-tariffing) perniagaan insurans motor menjelang 2016.

Malaysian Motor Insurance Pool (MMIP)

Semenjak penubuhan MMIP pada tahun 1992, ia beroperasi melalui 2 syarikat penanggung insurans. Pada tahun 2009, MMIP telah membuka perkhidmatannya kepada orang awam dengan kerjasama Pos Malaysia. Perkhidmatan tersebut terus diperluaskan kepada semua penanggung insurans dan pengendali takaful yang mempunyai lesen untuk menjalankan insurans am atau perniagaan takaful pada bulan Mei 2011.

Pembukaan perkhidmatan MMIP kepada orang awam telah melihat peningkatan yang besar dalam jumlah perniagaannya. Pada tahun 2012, MMIP telah mencatatkan premium bertulis kasar lebih tinggi iaitu mencecah RM273.9 juta berbanding RM210.5 juta pada tahun sebelumnya. Sebahagian besar pertumbuhan ini adalah disebabkan oleh permintaan yang semakin meningkat ke atas perkhidmatan MMIP, serta hasil pemilihan pengunderaitan insurans motor yang ketat oleh penanggung insurans yang terlibat.

MMIP juga mencatatkan kerugian bersih sebanyak RM188.0 juta pada tahun 2012 berbanding RM166.3 juta pada tahun 2011. Defisit yang besar disumbangkan terutamanya oleh perniagaan kelas Bas dan pertumbuhan pesat dalam perniagaan kelas Kereta Persendirian. MMIP menanggung nisbah kerugian keseluruhan sebanyak 172.5 % dalam tahun 2012 berbanding 195.6% pada tahun 2011. Nisbah kerugian MMIP dijangka kekal negatif apabila ia menerima sejumlah besar risiko pasaran yang belum ditempatkan. Premium bertulis kasar pada tahun 2012 menunjukkan pertumbuhan sebanyak 30.2% berbanding 33.5% pada tahun 2011.

Malaysian Motor Insurance Pool (MMIP)

The MMIP after operating through 2 servicing insurers since its inception in 1992 had opened its services to the public through Pos Malaysia in 2009. The services were further extended to include all insurers and takaful operators having a license to carry out general insurance or takaful business in May 2011.

The opening up of the services of the MMIP had seen a considerable increase in the volume of the business of MMIP. In 2012, the MMIP recorded higher gross written premiums reaching RM273.9 million compared to RM210.5 million in the preceding year. The growth was largely attributed to the increasing demand for MMIP cover as a result of stringent underwriting selection of motor insurance by market insurers.

The Pool also recorded a net loss of RM188.0 million in 2012 as compared to RM166.3million in 2011; the large deficit was mainly contributed by the Bus class of business and the rapid growth in Private Car class of business. The Pool incurred an overall loss ratio of 172.5% for 2012 as compared to 195.6% in the year 2011. The MMIP’s loss ratio is expected to remain negative as the Pool continues to write large volumes of unplaced market risks. The gross written premiums in 2012 show a growth of 30.2% against 33.5% in 2011.

The insurance and takaful industry is currently looking into the formation of a syariah compliant Malaysian Motor Pool which will be a high risk motor cover pool run collectively by the insurance and takaful industry. The purpose of changing the MMIP to a syariah compliant pool is to enable takaful operators



to be more actively involved in the underwriting of business of the Malaysian Motor Pool. A joint Pro-tem Council comprising representatives from the insurance and takaful industries has been formed to look into the incorporation of this syariah compliant pool.

Joint Insurance and Takaful Council (JITC)

Since the establishment of the JITC in September 2011, the Association has been working together with the Life Insurance Association of Malaysia (LIAM) and the Malaysian Takaful Association (MTA) under two Task Forces i.e. Task Force on Agency and Ethics and Task Force on Operating Cost Control for General Insurance and Takaful Operators.

The main objectives of the two Task Forces are to study and develop consistent rules and regulations to enhance harmonization between the three sectors and foster a higher level of self-regulation in the industry

Proposed Flood Model for the Insurance Industry

The Association is considering the development of a Flood Model for the insurance industry in view of the increasing flood risk in the country. A presentation was made to the Ad Hoc Flood Committee and the Fire Sub-Committee by 5 shortlisted consultants providing flood modeling solutions on 9th and 10th January 2013.

The Committee is currently in the final stages of discussion with the consultants on the flood model to be drawn up.

Indust r i insurans dan takafu l k in i sedang mempertimbangkan pembentukan Malaysian Motor Pool yang menawarkan polisi motor berisiko tinggi yang mematuhi syarat syariah di mana ia akan dijalankan secara kolektif dan usaha sama oleh industri insurans dan takaful. Tujuan perubahan MMIP ke arah memenuhi syarat syariah adalah untuk membolehkan penglibatan pengendali takaful secara aktif dalam proses pengunderaitan perniagaan Malaysian Motor Pool. Satu Majlis Pro-tem bersama terdiri daripada wakil-wakil daripada industri insurans dan takaful telah dibentuk untuk mengkaji pembentukan satu pertubuhan gemblengan syariah.

Majlis Bersama Insurans dan Takaful (JITC)

Sejak penubuhan JITC pada bulan September 2011, PIAM telah berkerjasama dengan Persatuan Insurans Hayat Malaysia (LIAM) dan Persatuan Takaful Malaysia (MTA) di bawah dua Pasukan Petugas iaitu Pasukan Petugas Agensi dan Etika dan Pasukan Petugas Kawalan Kos Operasi bagi Insurans Am dan Pengendali Takaful.

Objektif utama kedua-dua Pasukan Petugas ini adalah untuk mengkaji dan membangunkan peraturan yang konsisten untuk meningkatkan keharmonian antara ketiga-tiga sektor dan memupuk kawal selia diri dalam industri ke tahap yang lebih tinggi.

Cadangan Model Banjir untuk Industri Insurans

Persatuan kini dalam pertimbangan untuk merangka satu Model Banjir untuk industri insurans memandangkan risiko banjir yang kian meningkat di negara ini. Satu pembentangan telah dibuat kepada Jawatankuasa Ad Hoc Banjir dan Jawatankuasa Kecil Kebakaran oleh 5 perunding yang telah disenaraipendek bagi menyediakan penyelesaian model banjir pada 9hb dan 10hb Januari 2013.

Pihak Jawatankuasa kini di peringkat akhir perbincangan dengan perunding dalam perangkaan model banjir.



Kongress Insurans Asia Timur Ke-26 (EAIC) 29hb Oktober hinnga 2hb November 2012, Kuala Lumpur

Kongres Insurans Asia Timur Ke-26 (EAIC) telah diadakan dengan jayanya di Kuala Lumpur dari 29hb Oktober hingga 2hb November 2012 dengan penyertaan kira-kira 1,155 peserta dari 42 buah negara di seluruh dunia. Kongres ini telah dirasmikan oleh Gabenor Bank Negara Malaysia, Y. Bhg Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz.

Tema ‘Transforming the East Asian Insurers – Time for Action Now’, tepat dipilih kerana tumpuan utama Kongres ini, dengan penyertaan pemimpin-pemimpin cendekiawan dan pengamal industri, telah bergabung dengan isu-isu utama yang dihadapi oleh industri.

Perbentangan-pembentangan dasar telah menjelaskan mengenai “Transforming the East Asian Insurers and New Horizons in Talent Development and Retention – Engaging Generation Y and Beyond”, sementara sesi pleno memaparkan mengenai “Adapting to Changing Perceptions – Becoming the Preferred Choice, Enhancing Synergies Between Conventional Insurance and Takaful Systems and Revisiting the Aftermath of Recent Natural Disasters – Can We Do Better?”

Kongres ini telah dianjurkan bersama oleh PIAM, LIAM, MTA dan Persatuan Insurans Antarabangsa Labuan (LIIA). Ia merupakan satu pencapaian yang penting bagi Malaysia untuk menjadi tuan rumah EAIC ke-26 apabila perbadanan Insurans Asia Timur ini menjangkau usia 50. Kuala Lumpur adalah salah satu daripada sembilan anggota pengasas EAIC ketika ia ditubuhkan pada tahun 1962. Hari Ulang Tahun Emas EAIC telah menawarkan lebih motivasi untuk semua berkumpul dan menghargai EAIC yang lalu serta memberi inspirasi kepada generasi akan datang.

Lembaga Eksekutif EAIC telah menggubal Deklarasi Kuala Lumpur 2012 pada majlis penutup EAIC kali ke-26 di Kuala Lumpur, di mana EAIC menegaskan komitmen untuk meningkatkan lagi kerjasama serantau dalam industri ini. Industri ini telah diseru untuk menjadi lebih pro-aktif dalam memenuhi keperluan pasaran dengan cara inovatif untuk mempromosikan nilai-nilai insurans kepada masyarakat.

Kongres akan datang akan diadakan di Taipei pada bulan November 2014.

26th East Asian Insurance Congress (EAIC) 29th October to 2nd November 2012, Kuala Lumpur

The 26th East Asian Insurance Congress (EAIC) was held successfully in Kuala Lumpur from 29th October to 2nd November 2012 with a participation of some 1,155 delegates from 42 countries worldwide. The Congress was officiated by the Governor of Bank Negara Malaysia, Y. Bhg Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz.

The theme, ‘Transforming the East Asian Insurers – Time for Action Now’ was aptly chosen as the central focus of the Congress, with the participation of thought leaders and practitioners of the industry, synthesized with the core issues facing the industry.

The keynote presentations elaborated on “Transforming the East Asian Insurers and New Horizons in Talent Development and Retention – Engaging Generation Y and Beyond”, whilst the plenary sessions featured presentations on “Adapting to Changing Perceptions – Becoming the Preferred Choice, Enhancing Synergies Between Conventional Insurance and Takaful Systems and Revisiting the Aftermath of Recent Natural Disasters – Can We Do Better?”

The Congress was jointly organized by PIAM, LIAM, MTA and the Labuan International Insurance Association (LIIA). It was a significant milestone for Malaysia to host the 26th EAIC as the East Asian insurance body turned 50. Kuala Lumpur was one of the nine founding members of the EAIC during its formation in 1962. This Golden Anniversary of the EAIC offered more motivations for all to gather and honour EAIC’s past and inspire the next generation.

The Executive Board of EAIC had also drawn up the Kuala Lumpur Declaration 2012 in closing the 26th EAIC in Kuala Lumpur, where the EAIC reaffirmed its commitment to enhance regional co-operation within the industry. The industry was called on to be more pro-active in meeting the needs of the marketplace through innovative means to promote the value of insurance to the society.

The next Congress will be held in Taipei in November 2014.



Mesyuarat Majlis Insurans ASEAN (AIC) Ke- 38 – 12hb - 14hb Disember 2012, Bangkok, Thailand

Mesyuarat AIC ke-38 dan Mesyuarat Pengawal Selia Insurans Asean ke-15 telah diadakan di Bangkok dari 12hb -14hb Disember 2012. Mesyuarat tahunan ini telah dihadiri oleh lebih daripada 80 delegasi dari 8 negara-negara anggota ASEAN.

Mesyuarat Majlis Biro (COB), mesyuarat Institut Latihan Insurans dan Institut Penyelidikan ASEAN (AITRI), Mesyuarat Kerja Penyelidikan Bencana Alam Perkongsian ASEAN (ANDREWS) dan mesyuarat Jawatankuasa Pendidikan Insurans ASEAN (AIEC) telah juga diadakan serentak dengan AIC ke-38.

Susulan daripada mesyuarat AIC sebelumnya, Majlis juga telah dikemaskini dengan projek-projek pelbagai kumpulan kerja yang dibentuk pada Mesyuarat ke-37 AIC di Singapura, yang memberi tumpuan kepada Micro-insurans, Kontrak Kepastian dan Harmonisasi Pengukuran Kesolvenan di kalangan negara-negara ASEAN. Pada Mesyuarat Bersama dengan Pengawal Selia Insurans ASEAN, pengawal selia telah dikemaskini dengan perbincangan dan keputusan yang dibuat oleh Majlis Insurans ASEAN. AIC telah membangkitkan persoalan mengenai pelan kerja Komuniti Ekonomi ASEAN 2015 (AEC) dan bagaimana ini akan memberi kesan kepada negara-negara anggota. Juga telah diperhatikan semasa perbincangan bahawa objektif

38th ASEAN Insurance Council Meeting (AIC) – 12th - 14th December 2012, Bangkok, Thailand

The 38th AIC Meeting and the 15th Asean Insurance Regulators Meeting was held in Bangkok from 12th

to 14th December 2012. This annual meeting was attended by more than 80 delegates from the 8 ASEAN member countries.

The Council of Bureaux (COB) Meeting, ASEAN Insurance Training and Research Institute (AITRI) Meeting, ASEAN Natural Disasters Research Works Sharing (ANDREWS) and meeting of ASEAN Insurance Education Committee (AIEC) were also held concurrently with the 38th AIC.

Arising from previous AIC meetings, the Council was also updated on the various work group projects formed at the 37th AIC Meeting in Singapore focusing on Micro-insurance, Contract Certainty and Harmonization on Solvency Measurement among ASEAN countries. At the Joint Meeting with the ASEAN Insurance Regulators, the regulators were updated on the discussions and decisions made by the ASEAN Insurance Council. The AIC had enquired from the regulators on the 2015 ASEAN Economic Community (AEC) blue print and how this will affect member countries. It was noted during the discussions that the objective of the AEC was to strengthen and reposition the organizations to be more professional

From left: Mr Hirokazu Ohira, General Secretary of EAIC Main Executive Board, En Hashim Harun, Organising Chairman 26th EAIC, YBhg Tan Sir Dato’ Sri Dr Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, Mr Teddy Hailamsah, President of EAIC 2010-2012, Mr Vincent Kwo, Preseident of LIAM.

The cake cutting ceremony in celebration of the EAIC Goldern Anniversary, witnessed by YBhg Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz.



AEC adalah untuk mengukuhkan dan menyusun semula organisasi untuk menjadi lebih profesional dan bebas untuk berhadapan dengan tugas dan cabaran yang bakal dihadapi.

Mesyuarat AIC kali ke-39 akan dihoskan oleh Vietnam.

AGENSI DAN LAIN-LAIN SALURAN PENGEDARAN

Sistem Pendaftaran Agensi

Rajah di bawah menunjukkan jumlah unit-unit agensi berdaftar di bawah Peraturan Pendaftaran Ejen-Ejen Insurans Am (GIARR) setakat 31hb Disember 2012 dan 2011.

and independent in order to cope with tasks and challenges facing ahead.

The 39th AIC meeting will be hosted by Vietnam.

AGENCY AND OTHER DISTRIBUTION CHANNELS

Agency Registration System

The table below shows the number of agency units registered under the General Insurance Agents Registration Regulations (GIARR) as at 31st December 2012 and 2011.

ACTIVITIES OF PIAM AKTIVITI-AKTIVITI PIAM

No. of Agency Units Total No. of Percentage of Agency Registered With Agency Units Registered With

Year (as at 31st December)

One Two Units One Two Principal Principals Registered Principal Principals

2011 16,684 18,927 35,611 47% 53%

2012 16,480 18,874 35,354 47% 53%

Agents Registeredwith 1 Principal

Agents Registeredwith 2 Principals

Total No. ofRegistered Agents

35,611 35,354

18,927 18,87416,684 16,480

40000350003000025000200001500010000

50000

20112012

100% 100%53% 53%

47% 47%

As at 31st December 2012, the number of registered general insurance agents was 35,354 which is a decrease of 0.7% compared to 35,611 in 2011.

Setakat 31hb Disember 2012, jumlah agensi insurans am yang didaftarkan adalah 35,354 merekodkan penuruhan sebanyak 0.7% berbanding jumlah 35,611 tahun 2011.



Agents

Insurance Brokers

Others

Direct Business Channels

4%5%

15%15%

19%20%

61%61%

2011 2010

GROSS PREMIUMS BY DISTRIBUTION CHANNEL

Analysis of Business by Distribution Channels

In 2011, agents garnered 61% or RM8,475.3 million of the total business in comparison to other distribution channels. Of the business acquired by the agency force in 2011, about 9% of total business is acquired via motor vehicle franchise holders. This analysis indicates that insurance agents continue to play a significant role in the acquisition channels in this market.

Agents Direct Business Channels Insurance Brokers Others Total

2011

8,475.3 m 2,738.0 m 2,131.7 m 577.0 m 13,922.0 m

61% 20% 15% 4% 100%

2010

7,955.1 m 2,450.0 m 1,884.7 m 615.1 m 12,904.9 m

61% 19% 15% 5% 100%

100001000

100101

Registered Agents Motor Verhicle Franchise Holders

RM

MIL

LIO

N

2010 2011

7,147.4 m94%

7,733 m91%807.7 m

6%743 m

9%

DISTRIBUTION CHANNEL : AGENTS AND FRANCHISE HOLDERS

Analisa Perniagaan Saluran Pengedaran

Dalam tahun 2011, saluran ejen telah mengumpul 61% atau RM8,475.3 juta dari jumlah keseluruhan perniagaan berbanding dengan saluran pengedaran lain. Dari perniagaan yang diperolehi oleh pengedaran pasukan agensi pada tahun 2011, lebih kurang 9% dari jumlah keseluruhan perniagaan diperolehi melalui pemegang franchise kenderaan bermotor. Analisa ini menunjukkan bahawa ejen-ejen insurans terus memainkan peranan penting dalam saluran pengedaran secara keseluruhan di pasaran ini.



Agihan Pendapatan Ejen

Peratusan ejen-ejen berpendapatan kurang dari RM5,000 telah menurun dari 14.5% pada tahun 2010 ke 14% pada tahun 2011, manakala peratusan ejen berpendapatan lebih daripada RM100,000 meningkat dari 34.2% pada tahun 2010 ke 36.6% pada tahun 2011.

Dari segi kuantum, jumlah pendapatan yang diterima oleh ejen meningkat sebanyak 13% menjadi RM1,063 bilion pada tahun 2011.

Trend Kelulusan PCEIA

Trend peratusan kelulusan Peperiksaan Pra-Kontrak Ejen Insurans Am (PCEIA) pada 31hb Disember 2012 adalah seperti berikut : -

Percentage (%) Total Remuneration (RM/’000)

No Range (RM)

2010 2011 2010 2011

1 <5,000 14.51 14.05 3,010 6,355 2 5,000.00 - 10,000 4.85 4.25 2,197 1,948 3 10,000.01 - 15,000 3.82 3.34 2,816 2,508 4 15,000.01 - 20,000 3.93 3.50 4,051 3,927 5 20,000.01 - 25,000 4.17 4.32 5,421 6,175 6 25,000.01 - 30,000 4.18 3.83 6,595 6,355 7 30,000.01 - 35,000 3.52 3.66 6,471 7,198 8 35,000.01 - 50,000 9.44 9.04 23,185 22,641 9 50,000.01 - 100,000 17.36 17.38 70,745 71,937 10 100,000.01 - 150,000 9.12 9.34 61,991 65,053 11 150,000.01 - 200,000 5.60 6.12 52,419 58,637 12 200,000.01 - 250,000 3.79 3.92 44,976 48,417 13 >250,000.01 15.70 17.26 653,329 762,048

Total 100.00 100.00 937,213 1,063,203

Distribution of Agents’ Earnings

The percentage of agents earning less than RM5,000 decreased from 14.5% in 2010 to 14% in 2011 whilst the percentage of agents earning above RM100,000 increased from 34.2% in 2010 to 36.6% in 2011.

In terms of quantum, the total remuneration earned by agents increased by 13% to RM1,063 billion in 2011.

Trend in PCEIA Passes

The trend in the percentage of passes of the Pre-Contract Examination for General Insurance Agents (PCEIA) as at 31st December 2012 are as below:-

Year 2012

Educational qualification No. of Candidates who sat for Exam No. of Passes % Passes

SPM 4,796 3,034 63 STPM 329 232 71 DIPLOMA 1,724 1,202 70 DEGREE 2,671 2,290 86 TOTAL 9,520 6,758 71



There were 9,520 candidates who sat for the PCEIA examination – General Insurance Route from January to December 2012 and the overall passing rate was 71%. Degree holders account for the highest percentage of passes at 86%.

Analysis on Profile of Agents

Location

The geographical distribution of registered general insurance agents is as below:-

DEGREE

DIPLOMA

STPM

SPM

Type of educationalqualification

% of Passed

86%

70%

71%

63%

0 20 40 60 80 100

PCEIA RESULT FROM JAN TO DEC 2012

Seramai 9,520 calon telah menduduki peperiksaan PCEIA – Insurans Am dari Januari hingga Disember 2012 dan tahap kelulusan secara keseluruhan adalah 71%. Pemegang Ijazah perolehi peratusan kelulusan yang tertinggi iaitu 86%.

Analisa Profil Ejen

Lokasi

Agihan geografi ejen insurans am yang didaftarkan adalah seperti berikut:-

State

No. of Agents

2011 2012

Johore 5,118 5,040 Kedah 1,622 1,608 Kelantan 672 672 Melaka 1,404 1,381 N.Sembilan 1,339 1,329 Pahang 1,523 1,536 Penang 3,490 3,487 Perak 2,869 2,919 Perlis 122 138 Sabah 1,956 1,960 Sarawak 2,365 2,386 Selangor 7,184 7,053 Terengganu 573 574 WP Kuala Lumpur 5,316 5,215 WP Labuan 54 51 Singapore 4 5



Negeri Selangor mempunyai jumlah ejen terbesar merangkumi 20% daripada jumlah penduduk agensi diikuti oleh Kuala Lumpur sebanyak 15%. Perlis mencatatkan jumlah ejen yang terendah (di Semenanjung Malaysia) sebanyak 138 (0.4%).

Agihan Ejen Mengikut Umur

Lebih daripada 86% ejen-ejen yang berdaftar adalah dalam golongan usia 31 tahun ke atas. Ejen-ejen dalam golongan usia 31-40 tahun membentuk kumpulan terbesar iaitu 29.4% diikuti oleh ejen-ejen dalam golongan usia 41-50 tahun sebanyak 29.2%. Ejen-ejen yang berusia 21 tahun kebawah terdiri kurang dari 1% dari ejen-ejen berdaftar. Usia minimum untuk menjadi seorang ejen adalah 18 tahun.

The state of Selangor has the largest number of agents comprising 20% of the total agency population followed by Kuala Lumpur at 15%. The state with the lowest number of agents (in Peninsular Malaysia) is Perlis at 138 (0.4%).

Age Distribution of Agents

More than 86% of registered agents are above the age of 31 years. Agents within the age bracket of 31-40 formed the largest group at 29.4% followed by agents in the age bracket of 41-50 at 29.2%. Those below 21 years old comprised less than 1% of the agency force. The minimum age to be an agent is 18 years old.

0.4%

13.5% 29.4% 29.2% 27.4%158

4,756 10,397 10,342 9,701

AGE OF AGENTS

1

100,000

10,000

1,000

100

10

Below 21 years 21 to 30 years 31 to 40 years 41 to 50 years Above 50 years

Duration as General Insurance Agent

Agents who have been in the industry for more than 9 years formed 52% of the agency force. In contrast, about 19% of the agency force had been in the industry for less than 2 years. Those with 4 to 5 years of experience in the industry formed the smallest group at 0.7%.

Tempoh sebagai Ejen Insurans Am

Ejen-ejen yang telah berada di industri insurans lebih dari 9 tahun membentuk hampir 52% dari pasukan ejen. Kira-kira 19% dari pasukan ejen telah berada di industri insurans kurang dari 2 tahun. Mereka yang berpengalaman dari 4 hingga 5 tahun dalam industri insurans membentuk kumpulan yang terkecil iaitu 0.7%.

Below 2years

2 to 3years

3 to 4years

4 to 5years

7 to 8years

6 to 7years

5 to 6years

8 to 9years

Above 9years

19.4%

6,868

6.4% 6.4% 0.7% 3.3% 3.5% 3.8% 4.2% 52.3%

2,254 2,249

2441,164 1,354 1,4901,237

18,494100,000

1,000

10,000

100

10

1

NO. OF YEARS AS GENERAL INSURANCE AGENT



Online Agency Registration System (OARS)

Since the implementation of an online agency registration for agents in June 2005, a total of about 62,000 applications have been handled through the system.

The existing OARS underwent further improvement with the installation of a back-up server at PIAM’s office as the Disaster Recovery Plan (DRP) for the OARS whilst the production server is hosted by ISM at its office.

Payment of Benefit-in-Kind to Agents

The Inland Revenue Board (IRB) had introduced a new requirement whereby monetary and non-monetary incentive payments to an agent, dealer or distributor are required to be declared to the IRB effective 2011 via Form CP58.

To assist member companies on this new requirement, PIAM, LIAM and MTA jointly appointed Messrs PricewaterhouseCoopers (PwC) to submit a joint representation to the IRB to propose and clarify on the reporting requirement on the monetary and non-monetary incentive payments involving life and general insurance agents.

Following the industry’s appeal to the Inland Revenue Board (IRB), the IRB has revised the Form CP58 on 28th February 2013 where the signature and company stamp are no longer required in the Form. (Previously insurers were required to manually sign the Form CP58 for reporting of benefits-in-kind for intermediaries).

MOTOR

Central No Claims Discount (NCD) Database

The Central NCD Database has been in operation since January 2007 and was set up for on-line confirmations of NCD entitlements between insurers. The objective of this database is to enable an efficient and automated system for the exchange of information on the NCD status of motor policyholders among member companies. With this database, the insurance industry is using one consistent and reliable source of reference for NCD confirmations.

Sistem Pendaftaran Ejen Secara Online (OARS)

Sejak pelaksanaan pendaftaran agensi secara online untuk ejen pada Jun 2005, sejumlah kira-kira 62,000 permohonan telah dikendalikan melalui system ini.

Sistem OARS yang sedia ada menjalani penambahbaikan dengan pemasangan “back-up server” di PIAM sebagai Pelan Pemulihan Bencana (DRP) untuk system OARS manakala “production server” dihoskan di pejabat Insurance Services Malaysia Berhad (ISM).

Pembayaran Berupa Manfaat Kepada Ejen

Lembaga Hasil Dalam Negeri (LHDN) telah memperkenalkan satu keperluan baru di mana bayaran insentif berbentuk wang tunai dan bukan wang tunai kepada ejen, pengedar atau pengagih perlu diisytiharkan kepada LHDN mulai tahun 2011 melalui Borang CP58.

Dalam usaha membantu syarikat-syarikat ahli untuk memenuhi keperluan baru ini, PIAM, LIAM dan MTA telah melantik Tetuan PricewaterhouseCoopers (PwC) untuk mengemukakan perwakilan bersama kepada LHDN untuk mencadangkan dan menjelaskan keperluan laporan mengenai pembayaran insentif berbentuk wang tunai dan bukan wang tunai yang melibatkan ejen-ejen insurans hayat dan am.

Berikutan rayuan tersebut, LHDN telah membuat pindaan ke atas Borang CP58 pada 28hb Februari 2013 di mana tandatangan dan cop syarikat tidak lagi diperlukan di dalam Borang. (Sebelum ini pananggung insurans dikehendaki untuk menandatangani Borang CP58 secara manual untuk melaporkan manfaat berupa bagi perantara).

MOTOR

Pusat Pengkalan Data Diskaun Tanpa Tuntutan

Pusat Pengkalan Data Diskaun Tanpa Tuntuan telah beroperasi sejak Januari 2007 dan ditubuhkan untuk pengesahan secara terus (online) kelayakan NCD antara penanggung insurans. Objektif pengkalan data ini adalah bagi menyediakan satu sistem automasi dan efisien untuk pertukaran maklumat status NCD pemegang polisi motor diantara penanggung insurans. Dengan adanya pengkalan data ini, industri kini menggunakan satu sumber yang konsisten dan boleh dipercayai sebagai rujukan untuk pengesahan NCD.



In a continuous effort to enhance the Central NCD Database, the Motor Sub-committee in collaboration with ISM, has upgraded the system further wherein all member companies can now update the data on their policyholders using a web services interface. This enhancement came into effect from 1st January 2013 and all companies are required to submit policy, endorsements and claims data using this interface to replace the “Batch Data Population” module which was used previously.

Review of the Knock-for-Knock (KfK) AgreementImplementation of 2nd Phase of Electronic KfK Workflow System

The e-KfK Workflow System which was implemented with effect from 1st November 2011 was developed to fully automate the KfK procedures to expedite the process and settlement of KfK claims between handling insurers and claimant insurers. The system which includes notifications, confirmations, KfK approvals, billings, transmission of documents allows claims to be assessed immediately. The system also allows for the generation of reports such as aging reports to be done electronically.

The 2nd phase upgrade of the project, which looked into the following areas have been completed and implemented on 16th January 2013:-

a) OD (Own Damage) KfK – online KfK notification and reply

b) Third Party uninsured losses –online KfK enquiry and confirmation (documents submission)

c) KfK reimbursement – with the enforcement of 1% per month penalty for late reimbursement, auto defaulted by system.

d) KfK recovery and reimbursement statement with compound of the 1% of penalty can be generated from the system.

JPJ Revamp Project (e-Insurans System)

The Road Transport Department has embarked on a revamp project of its computerized system and will develop a new system to enable online transactions with the Department.

Dalam usaha yang berterusan untuk menambah baik Pusat Pengkalan Data ini, Ahli Jawatankuasa Kecil Motor dengan kerjasama ISM, telah seterusnya menaik taraf sistem yang mana semua ahli-ahli syarikat boleh mengemaskini data pemegang polisi mereka menggunakan laluan laman sesawang. Penambahbaikkan ini berkuatkuasa dari 1hb Januari 2013 dan semua syarikat di kehendaki menghantar data polisi, endosmen, dan tuntutan menggunakan laluan ini menggantikan modul ‘Batch Data Population’ yang digunakan sebelumnya.

Semakan Perjanjian Knock-for-Knock (KfK)Pelaksanaan Fasa Kedua Sistem Aliran Kerja Elektronik KfK

Sistem Aliran Kerja Elektronik KfK yang telah dilaksanakan berkuatkuasa dari 1hb November 2011 telah dibangunkan untuk mengautomasikan sepenuhnya prosedur KfK untuk mempercepatkan proses dan penyelesaian tuntutan KfK antara ‘handling insurers’ dan ‘claimant insurers’. Sistem ini, yang mana merangkumi pemberitahuan, pengesahan, kelulusan KfK, pengeluaran bil, penghantaran dokumen, membolehkan tuntuan dinilai serta merta. Sistem ini juga membolehkan pengeluaran laporan seperti laporan ‘aging’ dibuat secara elektronik.

Peringkat kedua menaik taraf projek ini, yang melihat perkara-perkara dibawah telah selesai dan dilaksanakan pada 16hb Januari 2013:-

a) OD (Own Damage) KfK – Pemberitahuan dan maklumbalas KfK secara terus

b) Kerugian Tidak Diinsuranskan (Uninsured Losses) Pihak Ketiga – Pertanyaan dan pengesahan KfK (serahan dokumen) secara terus

c) Pembayaran balik KfK – penguatkuasaan caj penalty 1% untuk pembayaran balik yang lewat akan diautomatikkan melalui sistem

d) Penyata Pembayaran dan Pembayaran balik KfK dengan kompaun penalti 1% boleh dijana dari system.

Projek Pembaharuan JPJ (Sistem e-Insurans)

Jabatan Pengangkutan Jalan telah melaksanakan satu projek pembaharuan sistem JPJ dan akan membina sistem baru untuk membolehkan transaksi online dengan Jabatan ini.



The JPJ held several meetings and briefings with the insurance industry on the significant changes which will be made to their system and which will impact the industry. The industry is working closely with JPJ to facilitate this revamp project as it will ultimately be for the benefit of the public and the insurance industry.

Proposal of Malaysian Motor Repair Times

The industry is establishing a set of “Malaysian Repair Times” as a standard for local reference. Currently insurers have been given the option to adopt Thatcham Repair Times and/or Opinion Times. There is a need to review the Thatcham Repair Times to a localised Malaysian Repair Times as a standard for local reference due to the variance in the makes of vehicles sold in Malaysia as compared to the United Kingdom.

The relevant parties, namely the Motordata Research Consortium Sdn Bhd (MRC), the Federation of Automobile Workshop Owners Association of Malaysia (FAWOAM) and the Association of Malaysian Loss Adjusters (AMLA) have been consulted on this proposal. A Committee has also been formed to develop the Malaysian Motor Repair Times for use by the industry.

PIAM Approved Repairers Scheme (PARS)

The PIAM Approved Repairers Scheme (PARS) has been in operation since 1983 with the objective to enhance the standard of service, quality and professionalism of workshops involved in the repair of accident vehicles. The Scheme currently operates nationwide.

Since its implementation a number of reviews have been conducted on PARS requirements in an effort to further enhance the industry’s ability to monitor and upgrade the role and functions of Approved Repairers under the scheme. A PARS Review Group has been formed, comprising members of the industry and their main task is to vet PARS applicants’ files to confirm that the applicants have met the PARS requirements. PIAM is currently reviewing the sytem to migrate to an online PARS system.

As at 31st December 2012, a total of 682 workshops have been approved under PARS.

Pihak JPJ telah mengadakan beberapa mesyuarat dan taklimat dengan industri insurans berkaitan perubahan-perubahan penting yang dibuat didalam sistem dan yang memberi kesan kepada industri. Industri ini telah berkerja rapat dengan JPJ untuk memudahkan projek pembaharuan ini yang mana akhirnya memberi manfaat kepada orang awam dan industri insurans.

Cadangan ‘Malaysian Motor Repair Times’

Industri ini akan menubuhkan ‘Malaysian Repair Times’ sebagai satu standard untuk rujukan tempatan. Buat masa ini penanggung insurans diberi pilihan untuk menggunakan ‘Thatcham Repair Times’ dan/atau ‘Opinion Times’. Ianya perlu untuk menyemak ‘Thatcham Repair Times’ untuk ‘Malaysian Repair Times’ tempatan sebagai rujukan tempatan disebabkan perbezaan kenderaan yang dijual di Malaysia jika dibandingkan di United Kingdom.

Pihak-pihak yang berkaitan, seperti Motordata Research Consortium Sdn Bhd (MRC), Federation of Automobile Workshop Owners’ Association of Malaysia (FAWOAM) dan Association of Malaysian Loss Adjusters (AMLA) telah dirujuk atas cadangan ini. Satu Jawatankuasa telah ditubuhkan untuk membangunkan ‘Malaysian Motor Repair Times’ untuk digunakan oleh industri.

Skim Bengkel-Bengkel Pembaikan yang Diluluskan oleh PIAM (PARS)

PARS telah beroperasi sejak tahun 1983 dengan objektif untuk menambah baik standard perkhidmatan, kualiti dan profesionalisma bengkel-bengkel terlibat dalam pembaikpulihan kereta-kereta kemalangan. Skim ini dilaksanakan di seluruh negara.

Sejak pelaksanakan beberapa kajian telah dibuat atas keperluan-keperluan PARS dalam usaha untuk terus menambah baik keupayaan industri untuk memantau dan menaik taraf peranan dan fungsi bengkel-bengkel yang diluluskan dibawah Skim ini. Satu Kumpulan Kerja Semakan PARS telah ditubuhkan terdiri dari ahli-ahli industri dan kerja utama mereka ialah untuk menyemak file-file pemohon-pemohon PARS untuk memastikan pemohon-pemohon telah memenuhi keperluan-keperluan PARS. Buat masa ini PIAM sedang mengkaji sistem PARS ini untuk berpindah kepada sistem PARS online.



Vehicle Theft Recovery Council of Malaysia Berhad (VTREC)

The Vehicle Theft Reduction Council of Malaysia Berhad (VTREC) was formed in 2007 with the objective of identifying various initiatives to bring about a reduction of motor vehicle theft in the country and to facilitate cooperation between the insurance industry, the Government of Malaysia and community stakeholders to carry out VTREC’s proposal for change to eradicate vehicle theft. Since its formation VTREC has undertaken various initiatives to reduce vehicle theft with assistance from the police and other Government agencies and has been successful in recovering stolen vehicles.

Stolen Vehicles Statistics

Based on ISM’s Motor Claim Register (July 2011 - July 2012), the overall number of theft claims had decreased by 655 vehicles from 21,889 to 21,234 vehicles or 3%. The total number of thefts on Private Cars had reduced satisfactorily by 5.42%, however the Mobile Equipment and Goods Vehicle had increased by 14.3% and 11.5% respectively. The selected foreign made/models vehicles (Honda Civic, Toyota Camry

State Total

Johor 91 Kedah 31 Kelantan 11 Melaka 20 Negeri Sembilan 30 Pahang 32 Perak 46 Perlis 3 Pulau Pinang 42 Sabah 42 Sarawak 45 Selangor 193 Terengganu 13 Wilayah Persekutuan 83

TOTAL 682

Setakat 31hb Disember 2012, sejumlah 682 bengkel telah diluluskan di bawah PARS.

Vehicle Theft Reduction Council of Malaysia Berhad (VTREC)

Vehicle Theft Reduction Council of Malaysia Berhad (VTREC) telah ditubuhkan pada tahun 2007 dengan objektif mengenalpasti beberapa inisiatif bagi mengurangkan kecurian kenderaan dalam negara dan memudahkan kerjasama antara industri insurans dengan Kerajaan Malaysia dan lain-lain ‘stakeholders’ di dalam menrealisasikan cadangan-cadangan VTREC untuk perubahan ke arah membasmi kecurian kenderaan. Semenjak ditubuhkan, VTREC telah mengambil beberapa inisiatif untuk mengurangkan kadar kecurian kenderaan dan telah berjaya mengambil-balik kenderaan-kenderaan yang dicuri dengan bantuan Polis DiRaja Malaysia dan agensi-agensi Kerajaan.

Statistik Kecurian Kenderaan

Berpandukan kepada ‘ISM Motor Claims Register’ (Julai 2011 - Julai 2012), jumlah keseluruhan kenderaan curi menurun sebanyak 655 buah kenderaan, ia itu dari jumlah 21,889 buah kenderaan kapada 21,234 kenderaan atau 3%. Jumlah kasar kecurian Kenderaan Persendirian (Private Car) menyaksikan penurunan yang memuaskan pada kadar 5.4%, manakala Jentera Bergerak (Mobile Equipment)



and Hilux) had shown a total average decrease of 19% over the same period. However, the Perodua Myvi had increased by 13%.

Recovery of 450 Reported Stolen Vehicles Detained in Singapore and Thailand

Working closely with the Royal Malaysia Police and Interpol, PIAM was successful in the recovery of six vehicles from Vientianne, Loas with an estimated value of RM300,000.

In addition, working closely with the police and Interpol again and also the Consulate General of Malaysia in Songkla, Thailand, VTREC had been notified of a total of 450 stolen vehicles that were detained in Singapore and Thailand. 14 of these vehicles were from Singapore and 436 from Thailand.

VTREC had been able to identify 85 of these vehicles as belonging to Malaysian Insurers and was awaiting for their release. VTREC is in the process of identifying the balance of 365 vehicles and negotiating procedures with the Thai authorities for the release of these vehicles.

dan Kenderaan Barangan (Goods Vehicle) mencatat peningkatan 14.3% dan 11.5%. Model-model terpilih buatan luar negara (Honda Civic, Toyota Camry dan Hilux) menunjukkan penurunan jumlah purata 19% dalam jangkamasa yang sama. Walaubagaimana pun, Perodua Myvi telah melonjak naik kapada 13%.

Pemulangan Balik 450 Kenderaan Curi Yang Ditahan di Singapura dan Thailand

Dengan kerjasama erat di antara Polis DiRaja Malaysia dan Interpol, PIAM telah berjaya membawa balik enam buah kenderaan dari Vientianne, Loas yang di anggarkan bernilai RM300,000.

Di samping itu juga, dengan kerjasama erat yang terjalin di antara Polis, Interpol dan Konsulat Jeneral Malaysia di Songhkla, Thailand VTREC telah dimaklumkan sejumlah 450 buah kenderaan curi telah dikesan yang di tahan di Singapura dan Thailand. Dari jumlah ini, 14 buah kenderaan berada di Singapura dan 436 buah di Thailand.

VTREC telah mengenalpasti 85 buah kenderaan kepunyaan syarikat-syarikat insurans Malaysia dan sedang menunggu penyerahannya. VTREC kini dalam proses untuk mengenalpasti baki 365 buah kenderaan dan sedang berunding dengan pihak berkuasa Thai untuk merangka satu prosedur bagi mengambil balik kenderaan-kenderaan tersebut.

VTREC has been working in close collaboration with the Consulate General of Malaysia, the Thai authorities and PDRM in the recovery of stolen vehicles in Southern Thailand.



Daftar Cegah Penipuan Kenderaan

Satu lagi inisiatif VTREC berikutan daripada Bengkel yang diadakan pada bulan Julai 2011 ialah mewujudkan Darftar Kenderaan-Kenderaan Curi/Lupus dan ‘Beyond Economic Repair’ Negara. Objektif daftar ini adalah untuk mencegah penipuan di dalam mendaftarkan-semula kenderaan yang telah dilaporkan hilang dan kenderaan yang telah diisytiharkan Lupus (Total Loss), dan memastikan perlakuan tuntutan insuran mengikut peraturan yang ditetapkan oleh industri. Lanjutan dari perbincangan dengan Insurance Sevices Malaysia Berhad (ISM) daftar ini telah bergolak dan sesuai dijadikan sebagai Daftar Cegah Penipuan Kenderaan.

Aplikasi data dalam talian (online database) ini memberi fasiliti ahli-ahli persatuan untuk menyekat pengeluaran perlindungan insurans kenderaan seawal di peringkat jualan lagi bagi kenderaan-kenderaan yang telah dilaporkan hilang atau yang telah diisytiharkan Lupus. Inisiatif ini juga akan memberi kemudahan kapada orang awam menyemak status kenderaan mereka samada ianya telah direkodkan sebagai kenderaan hilang atau telah diistiharkan Lupus.

Taraf Pengecualian Cukai bagi VTREC

Pada tahun 2009 Persatuan telah mengemukakan permohonan kapada Kementerian Kewangan bagi mendapatkan taraf pengecualian cukai bagi VTREC memandangkan aktiviti-aktivitinya yang bertujuan memberi manfaat kapada masyarakat dalam usaha-usaha mengurangkan kegiatan curi kenderaan. Persatuan baru-baru ini telah pun menerima kelulusan untuk pengecualian cukai ini bagi tempoh 5 tahun mulai 2012 hingga 2016. Kelulusan in akan memberi pengecualian cukai atas sumbangan syarikat-syarikat insurans kapada VTREC bagi 5 tahun-tahun taksiran ini.

NON-TARIF

Polisi Bahasa Mudah Kemalangan Diri (PA)

Bank Negara Malaysia (BNM) telah meminta agar Polisi Bahasa Mudah PA dilaksanakan pada 31hb Mac 2013. Deraf Pendedahan Pertama Polisi Bahasa Mudah PA telah diedarkan kepada ahli-ahli syarikat dan Kumpulan Kerja pada 15hb Oktober 2012 untuk kajian. Deraf Akhir Polisi Bahasa Mudah PA akan dihantar kepada peguam untuk semakan sebelum dihantar kepada BNM untuk kelulusan dan penggunaannya.

Motor Anti-Fraud Register

One of the initiatives of VTREC following the Workshop it conducted in July 2011 was the setting up of the National Register for Stolen/Total Loss and Beyond Economic Repair (BER) Vehicles. The objective of this Register is to block the fraudulent ‘rebirthing’ of reported stolen vehicles and vehicles that had been declared Total Loss and ensure compliance of market regulation in the treatment of BER vehicles. Following discussions with Insurance Services Malaysia Berhad (ISM) the Register had evolved into a Motor Anti-Fraud Register.

This online database will provide members the facility to ‘block’ the issuance of motor insurance coverage at point-of-sales for vehicles that had been reported stolen or declared as ‘Total Loss’. The Register will also be made available to the public in the event that the public wishes to check the status of a vehicle whether or not it has any record of having been declared ‘Total Loss’ or reported stolen.

VTREC’s Tax Exempt Status

The Association had in 2009 submitted an application to the Ministry of Finance for according tax exempt status to VTREC in view of its activities which were aimed at benefiting the public and reducing vehicle theft. The Association had recently received approval for tax exempt status for the VTREC for a 5 year period from 2012 to 2016. This approval will allow tax exemption on all contributions made by insurers to VTREC for these 5 years of assessment.

NON-TARIFF

Personal Accident (PA) Plain Language Policy

Bank Negara Malaysia (BNM) had requested that the PA plain language policy be implemented by 31st

March 2013. The first Exposure Draft of the PA plain language policy was circulated to member companies and the Working Group on 15th October 2012 for review. The final draft of the PA plain language policy will be submitted to the solicitor for legal vetting prior to submission to BNM for its approval and adoption.



Extension of the Scope of the Routine Inspection of the PIAM Inspection Task Force to include Bond Underwriting Guidelines Currently, the scope of inspection of the PIAM Inspection Task Force for the yearly routine inspection carried out on member companies is largely focused on three areas namely on compliance with the Motor Tariff, Fire Tariff and Dealings with Agents.

Based on the relevant provisions in the Inter-Company Agreement on General Insurance Business (ICAGIB) routine inspections can be conducted on member companies to check on compliance with other Guidelines issued by the Association. The scope of the routine inspections of the PIAM Inspection Task Force has therefore been extended with effect from 1st January 2013 to include inspections on the compliance with the Bond Underwriting Guidelines.

FIRE INSURANCE

Road Map for Fire Detariffication

In preparation for the move towards a de-tariffed market, the Fire Sub-Committee has formulated a Road Map as a guide for the Sub-committee to develop programs and initiatives for the conduct of fire insurance business in a liberalized environment.

The key areas that have been identified in the Road Map include increasing flexibility in underwriting fire business, insurers’ preparedness and public education.

To-date, the Sub-committee has held dialogues with:-

i) the Large and Specialised Risk Scheme (LSR) Scheme Manager to discuss how PIAM’s detariffication strategy and the proposed Revised Fire Tariff (RFT) Road Map can be aligned with what is being done at the LSR Scheme to ensure a smooth implementation.

Arising from this dialogue, a representative from the LSR Scheme has been invited to participate in the Fire Sub-Committee.

ii) the Insurance Services Malaysia Berhad (ISM) to discuss and look into the preparations to be made

Perluasan Skop Rutin Pemeriksaan Pasukan Petugas Pemeriksaan PIAM (PIAM Inspection Task Force) merangkumi Garis Panduan Pengunderaitan Bon

Pada masa ini, skop pemeriksaan pasukan petugas pemeriksaan PIAM bagi pemeriksaan rutin tahunan yang dijalankan ke atas ahli-ahli syarikat adalah sebahagian besarnya tertumpu kepada tiga bidang iaitu mengenai pematuhan dengan Tarif Motor, Tarif Kebakaran dan Berurusan dengan Ejen-Ejen.

Berdasarkan peruntukan-peruntukan yang tertentu dalam Perjanjian Antara Syarikat Perniagaan Insurans Am (ICAGIB) pemeriksaan rutin boleh dijalankan ke atas ahli-ahli syarikat untuk memeriksa pematuhan ke atas Garis Panduan lain yang dikeluarkan oleh Persatuan. Oleh itu, skop pemeriksaan rutin Pasukan Petugas Pemeriksaan PIAM telah dilanjutkan berkuatkuasa mulai 1hb Januari 2013 merangkumi pemeriksaan ke atas pematuhan Garis Panduan Pengunderaitan Bond.

INSURANS KEBAKARAN

Pelan Kerja untuk “Detariffication” Kebakaran

Dalam persediaan menuju ke arah persekitaraan tanpa Tarif, Jawatankuasa Kecil Kebakaran telah merumuskan sebagai panduan Jawatankuasa Kecil untuk membangunkan program dan inisiatif untuk menjalankan perniagaan insurans kebakaran dalam persekitaran yang liberal.

Bidang utama yang telah dikenal pasti dalam pelan kerja termasuk peningkatan fleksibiliti dalam pengunderaitan perniagaan kebakaran, persediaan penanggung-penanggung insurans dan pendidikan awam.

Sehingga kini, Jawatankuasa Kecil Kebarkaran telah mengadakan dialog dengan:-

i) Pengurus Skim LSR membincangkan bagaimana strategi “detariffication” PIAM dan cadangan pelan kerja boleh sejajar dengan apa yang sedang dilakukan di Skim LSR untuk memastikan pelaksanaan yang lancar.

Lanjutan daripada dialog ini, seorang wakil daripada Skim LSR telah dijemput untuk mengambil bahagian dalam Jawatankuasa Kecil Kebakaran.



for the fire detariffication in relation to the fire database/statistical collection by ISM to ensure what is being done at ISM is aligned with PIAM’s detariffication strategy and Road Map.

Review of Fire Tariff

As a gradual progression towards a de-tariffed market, the following have been implemented by the Fire Sub-committee to improve the underwriting skills in the industry:-

i) with effect from 1st March 2013, the threshold limit for self-rating has been increased to RM50 million from the current limit of RM30 million.

ii) 17 “unclassified risks” were classified and incorporated into the Tariff to allow insurers to underwrite these risks without the need to refer to the Association for a trade/occupation classification and its rate thereof.

Working Group on Fire Database

A Working Group between the Fire Sub-committee and ISM has been set up to identify weaknesses in the Fire Database currently maintained at ISM and to take the necessary steps and actions to improve and/or further enhance the Database.

This Working Group would also be looking into the preparations to be made for the fire detariffication in relation to the statistical requirements and collection by ISM.

Recommended Guidelines for the Timber/Furniture Industry

The above Recommended Guidelines were implemented effective 1st January 2013. The Guidelines contain the Minimum Requirements and Best Practices which are required to be put in place by the timber/furniture industry in areas such as loss prevention, housekeeping, etc. to improve on the insurability of their risks.

ii) ISM Insurance Services Malaysia Bhd (ISM) untuk bincang dan mengkaji persediaan “detariffication” kebakaran berhubung pangkalan data kebakaran/koleksi statistik oleh ISM untuk memastikan apa yang sedang dilakukan oleh ISM adalah sejajar dengan strategi “detariffication” dan pelan kerja PIAM.

Kajian Semula Tarif Kebakaran

Sebagai peralihan menuju ke arah persekitaran tanpa Tariff, Jawatankuasa Kecil Kebakaran telah laksanakan berikut untuk meningkatkan kemahiran pengunderaitan dalam industri:-

i) berkuat kuasa mulai 1hb Mac 2013, had ambang semasa untuk pengunderaitan-sendiri (self rating) telah meningkat kepada RM50 juta daripada had semasa yang sedia ada sebanyak RM30 juta.

ii) 17 “risiko yang tidak dikelaskan” telah diklasifasikan dan dimasukkan ke dalam tarif untuk membenarkan penanggung insurans untuk menaja jamin risiko ini tanpa perlu merujuk kepada Persatuan bagi klasifikasi perdagangan/pekerjaan dan kadar daripadanya.

Kumpulan Kerja Pangkalan Data Kebakaran

Satu Kumpulan Kerja antara Jawatankuasa Kecil Kebakaran dan ISM telah ditubuhkan untuk mengenal pasti kelemahan Pangkalan Data Kebakaran yang sedia ada kini dikekalkan di ISM untuk mengambil tindakan dan langkah untuk memperbaiki dan/atau meningkatkan lagi Database.

Kumpulan Kerja ini juga akan membuat persiapan yang perlu untuk “detariffication” kebakaran berhubung dengan keperluan dan pengumpulan statistik oleh ISM.

Garispanduan yang disyorkan untuk Industri Perkayuan/Perabot

Garispanduan diatas telah dilaksanakan mulai 1hb Januari 2013. Garispanduan ini mengandungi Keperluan Minimum dan Amalan Baik yang perlu dilaksanakan oleh industri perkayuan/perabot seperti pencegahan kehilangan, pengemasan, dan lain-lain bagi memperbaiki risiko mereka agar boleh diinsuranskan.



Representation in Technical Committees set up by SIRIM

The Fire Sub-committee has been involved in various Technical Committees set up by SIRIM to provide comments and feedback on SIRIM’s standards especially on matters and issues related to the insurance industry as follows :-

• Industry Standards Committee on Fire Safety and Prevention.

• Technical Committee to develop standards on “Smoke Management”.

• Technical Committee to develop standards on “Passive Fire Protection System and Equipment.”

FINANCE AND CORPORATE GOVERNANCE

Guidelines on Internal Capital Adequacy Assessment Program (ICAAP)

The Guidelines on Internal Capital Adequacy Assessment Program (ICAAP) were finalized by BNM in March 2012 and became effective 1st September 2012. The ICAAP is the overall process (including oversight and operational frameworks and processes) by which an insurer ensures adequate capital to meet its capital requirements on an ongoing basis. BNM considers the ICAAP as an integral part of ensuring an insurer’s capital adequacy and will continue to review and evaluate the adequacy of insurers’ ICAAP under the Risk Based Supervision Framework, taking appropriate supervisory action where necessary to address areas of concern.

An insurer’s ICAAP is a key process in the management of the insurer’s business and is integrated with the insurer’s business planning, risk management processes and day-to-day operations.

Guidelines on Risk Governance

BNM issued the Guidelines on Risk Governance for banking institutions, insurance companies, takaful operators and Development Financial Institutions (DFIs) in March 2013, following consultation with the industry. The Guidelines set out a framework

Pewakilan dalam Jawatankuasa Teknikal yang ditubuhkan oleh SIRIM

FSC telah terlibat dalam pelbagai Jawatankuasa Teknikal yang ditubuhkan oleh SIRIM untuk memberikan komen dan maklum balas mengenai piawaian SIRIM terutama mengenai perkara-perkara dan isu-isu yang berkaitan dengan industri insurans seperti berikut:-

• Jawatankuasa Standard Perindustrian bagi “Pencegahan dan Keselamatan Kebakaran”.

• Jawatankuasa Teknikal untuk menyediakan Malaysian Standard bagi “Smoke Management”.

• Jawatankuasa Teknikal untuk menyediakan Malaysian Standard bagi “Passive Fire Protection System and Equipment”.

KEWANGAN DAN TADBIR URUS KORPORAT

Garis Panduan Program Penilaian Kecukupan Modal Dalaman (ICAAP)

Garis Panduan Program Penilaian Kecukupan Modal Dalaman (ICAAP) telah dimuktamadkan oleh BNM pada Mac 2012 dan berkuatkuasa 1hb September 2012. ICAAP adalah proses keseluruhan (termasuk rangka kerja pengawasan, proses dan operasi) untuk memastikan penanggung-penanggung insurans mempunyai modal yang mencukupi bagi memenuhi syarat keperluan modal secara berterusan. BNM menganggap ICAAP sebagai bahagian penting dalam memastikan kecukupan modal penanggung-penanggung insurans dan akan terus mengkaji semula dan menilai kecukupan ICAAP penanggung insurans di bawah Risiko Berdasarkan Rangka Kerja Penyeliaan, serta akan mengambil tindakan penyeliaan yang sewajarnya jika perlu dalam bidang-bidang berkenaan.

ICAAP bagi penanggung insurans adalah satu proses utama dalam pengurusan perniagaan insurans dan disepadukan dengan perancangan perniagaan, , proses pengurusan risiko dan operasi harian penanggung insurans.

Garis Panduan Tadbir Urus Risiko

BNM telah mengeluarkan Garis Panduan mengenai Tadbir Urus Risiko bagi institusi perbankan, syarikat-syarikat insurans, pengendali-pengendali takaful dan Pembangunan Institusi-Institusi Kewangan (PIK) pada Mac 2013, sejurus selepas sesi perundingan



of principles on risk governance to guide the board and senior management of insurance companies in performing their risk oversight function. Risk governance of insurance companies is focused on principles of sound corporate governance and the proper assessment and management of risks to ensure that risktaking activities are aligned with an insurance company’s capacity to absorb losses and its long-term viability.

The safety and soundness of financial institutions rely on the effectiveness of risk oversight and control functions. Risk management approaches and practices in the industry have evolved with increased attention to and advancements in risk management systems and practices observed among financial institutions. Despite such progress, scope remains for further improving internal risk governance practices which underpin a sound risk management framework. This includes closer integration within financial institutions of risk and corporate governance policies, processes and structures to support risk-related decision-making.

E-payment Migration in the General Insurance Industry

Under BNM’s Financial Sector Blueprint 2011-2020, the migration to electronic payments is an area that has been given greater emphasis. BNM is working with the insurance industry to migrate fully to e-payment for all payments to staff, agents, adjusters, repairers and services providers. BNM has this year also embarked on the 2nd stage of migration which will require insurance companies to provide options to policyholders to receive payments for claims, refunds and other forms of payments electronically.

BNM has reported that general insurers showed greater commitment to migrate internal payments to e-payments and the initiative on offering e-payment options to policyholders was progressively being rolled out though the industry in 2013.

dengan industri. Garis Panduan ini menetapkan prinsip rangka kerja mengenai tadbir urus risiko untuk membimbing lembaga dan pengurusan kanan syarikat-syarikat insurans dalam melaksanakan fungsi pengawasan risiko mereka. Tadbir urus risiko syarikat insurans tertumpu kepada prinsip-prinsip tadbir urus korporat dan penilaian yang kukuh serta penilaian dan pengurusan risiko yang sempurna untuk memastikan bahawa aktiviti-aktiviti pengambilan risiko adalah sejajar dengan kapasiti menyerap kerugian dan daya maju jangka panjang syarikat insurans.

Keselamatan dan kekukuhan institusi-institusi kewangan bergantung kepada keberkesanan pengawasan risiko dan fungsi kawalan. Pendekatan dan amalan pengurusan risiko dalam industri telah berkembang dengan perhatian yang meningkat dalam memajukan sistem pengurusan risiko dan amalan yang dipatuhi di kalangan institusi-institusi kewangan. Meski pun begitu, skop masih dikekalkan untuk peningkatan amalan tadbir urus risiko dalaman yang menyokong rangka kerja pengurusan risiko yang mantap. Ini termasuk integrasi yang lebih erat dalam risiko dan dasar tadbir urus korporat, proses dan struktur untuk menyokong membuat keputusan yang berkaitan dengan risiko bagi institusi-institusi kewangan.

Migrasi E-pembayaran dalam Industri Insurans Am

Di bawah Rangka Tindakan Sektor Kewangan BNM 2011-2020, perpindahan kepada pembayaran secara elektronik adalah satu perkembangan yang telah diberi penekanan yang lebih. BNM sedang bekerjasama dengan industri insurans untuk berhijrah sepenuhnya kepada e-pembayaran bagi semua pembayaran kepada kakitangan syarikat, ejen-ejen, pelaras-pelaras, pembaik dan penyedia perkhidmatan. Tahun ini, BNM telah memulakan peringkat ke-2 penghijrahan yang akan memerlukan syarikat-syarikat insurans untuk menyediakan pilihan kepada pemegang polisi untuk menerima pembayaran bagi tuntutan, bayaran balik dan lain-lain bentuk pembayaran secara elektronik.

BNM telah melaporkan bahawa penanggung insurans am menunjukkan komitmen yang lebih tinggi dalam usaha penghijrahan pembayaran dalaman kepada e-pembayaran, dan inisiatif industri dalam menawarkan pilihan e-pembayaran kepada pemegang-pemegang polisi akan dilancarkan secara progresif pada tahun 2013.



EDUCATION/HRD

2nd Breakfast Talk on “Success: Inspiration or Perspiration?”

The 2nd Breakfast Talk with the theme “Success: Inspiration or Perspiration?” was held on 27th November 2012 and attended by 41 young managers from the insurance industry.

The speaker, Mr. Christopher Tock, founder/director of SocialGrooves.com shared his success story of how he had translated his early work experience to realize his noble intention ad achievements till to date.

The objective of such talks is a motivation exercise for the young managers in the insurance industry through the sharing of experiences and inspirations of well known young personalities who have achieved success in their respective fields.

PENDIDIKAN/PEMBANGUNAN SUMBER MANUSIA (PSM)

‘Breakfast Talk’ kali ke-2 dengan tema “Success: Inspiration or Perspiration?”

‘Breakfast Talk’ kali ke-2 dengan tema “Success: Inspiration or Perspiration?” telah diadakan pada 27hb

November 2012 dan dihadiri oleh 41 pengurus muda dari industri insurans.

Penceramah sesi, Encik Christopher Tock, pengasas/pengarah SocialGrooves.com berkongsi kisah kejayaan beliau bagaimana beliau telah menggunakan pengalaman kerja awal beliau untuk merealisasikan pencapaian niat dan hasrat murni beliau sehingga kini.

Objektif ceramah-ceramah seperti ini adalah bertujuan untuk memberi latihan motivasi kepada pengurus-pengurus muda dalam industri insurans melalui perkongsian pengalaman dan inspirasi daripada personaliti-personaliti muda terkenal yang telah mencapai kejayaan dalam bidang masing-masing.

3rd Young Managers Forum: “Developing Talent”

The 3rd Young Managers Forum with the theme “Developing Talent” was held on 27th March 2013. This forum is aimed at creating a platform for young managers to network and also identify their concerns in the insurance industry and discuss and recommend solutions for these concerns.

Forum Pengurus-Pengurus Muda Ke-3 - “Developing Talent”

Forum Pengurus-Pengurus Muda Ke-3 dengan tema “Developing Talent” telah diadakan pada 27hb Mac 2013. Forum ini bertujuan mewujudkan satu platform bagi pengurus-pengurus muda untuk rangkaian dan juga mengenalpasti isu-isu dalam industri insurans, dan berbincang dan mencadangkan cara penyelesaian bagi isu-isur tersebut.

Mr. Riza Khan (right), one of the YMTT team members, presenting a token of appreciation to Mr. Christopher Tock.



Penceramah utama pada forum tersebut adalah Encik Kelvin Chee daripada PowerUp Learning Academy Sdn Bhd yang berkongsi pandangan beliau mengenai “Membentuk Juara, Meningkatkan Generasi Pemimpin Baru”. Beliau juga berkongsi pandangan beliau mengenai “Mengapa Pembangunan Bakat Penting”.

The key speaker at the Forum was Mr. Kelvin Chee of PowerUp Learning Academy Sdn Bhd who shared his views on “Building Champions, Raising the Next Generation of Leaders”. The speaker also shared his views on “Why Talent Development Is Important”.

Participants putting in the final touch to their project.

ACKNOWLEDGEMENT

In closing, the Management Committee wishes to express its appreciation to Mr Wong Kim Teck for his leadership as Chairman of PIAM from April to October 2012 and also the Executive Director, Mr. Lim Chia Fook who retired from the Association in December 2012. The Committee also expresses its sincere gratitude to the Members of the Management Committee, the various Sub-Committees, Task Forces and Working Groups for their support and contributions throughout the year. Despite their diverse background, Members have consistently demonstrated a consolidated effort in tackling issues and challenges facing the industry.

The Committee would also like to record its deepest appreciation to Bank Negara Malaysia, Ministry of Finance, Royal Malaysia Police, Road Safety Department, JPJ and many others for their continued support and guidance.

PENGHARGAAN

Sebagai penutup, Jawatankuasa Pengurusan ingin merakamkan penghargaan kepada Encik Wong Kim Teck atas kepimpinan beliau sebagai Pengerusi PIAM dari April hingga Oktober 2012 dan juga Pengarah Eksekutif, Encik Lim Chia Fook, yang telah bersara daripada Persatuan ini pada Disember 2012. Jawatankuasa Pengurusan juga menyatakan penghargaan ikhlas kepada para Ahli Jawatankuasa Pengurusan, ahli-ahli jawatankuasa-jawatankuasa kecil, Pasukan Petugas dan Kumpulan-kumpulan Kerja di atas sokongan dan sumbangan mereka sepanjang tahun. Walaupun dari pelbagai latar belakang, ahli-ahli Persatuan telah menunjukkan usaha padu yang konsisten dalam menangani isu-isu dan cabaran yang dihadapi oleh industri ini.

Pihak Jawatankuasa Pengurusan juga ingin merakamkan penghargaan kepada Bank Negara Malaysia, Kementerian Kewangan, Polis Diraja Malaysia, Jabatan Keselamatan Jalan Raya, JPJ dan lain-lain perbadanan di atas sokongan dan bimbingan mereka yang berterusan.



MEMBERSLIST OF



1 April 2012LIST OF MEMBERSAS AT

G 1. ACE Jerneh Insurance Berhad (364935-P) 12th Floor, Wisma ACE Jerneh 38, Jalan Sultan Ismail 50250 Kuala Lumpur P.O. Box 12420 50778 Kuala Lumpur Tel : 2116 3300 Fax : 2142 6672 Web : http://www.acejerneh.com.my

G 2. AIG Malaysia Insurance Berhad (795492-W) Level 18, Menara Worldwide 198, Jalan Bukit Bintang 55100 Kuala Lumpur Tel : 2118 0188 Fax : 2118 0288 Web : http://www.aiginsurance.com.my G 3. Allianz General Insurance Company (Malaysia) Berhad (735426-V) Suite 3A-15, Level 15 Block 3A, Plaza Sentral Jalan Stesen Sentral 5 Kuala Lumpur Sentral 50470 Kuala Lumpur Tel : 2264 1188 Fax : 2264 1186 Web : http://www.allianz.com.my

GL 4. American International Assurance Bhd (790895-D) L29, Menara AIA 99, Jalan Ampang 50450 Kuala Lumpur P.O. Box 10140 50704 Kuala Lumpur Tel : 2056 1111 Fax : 2056 2992 Web : http://www.aia.com.my

G 5. AmG Insurance Berhad (803512-W) Level 13A, Bangunan AmAssurance No. 1, Jalan Lumut 50400 Kuala Lumpur P.O. Box 10956 50730 Kuala Lumpur Tel : 4047 8000 Fax : 4043 8680 Web : http://www.ambankgroup.com.my

R 6. Asia Capital Reinsurance Malaysia Sdn Bhd (762294-T) Unit A-12A-8 Level 12A Menara UOA Bangsar 5 Jalan Bangsar Utama 1 59000 Kuala Lumpur Tel: 2299 6800 Fax: 2299 6900 Web : http://www.asiacapitalre.com.my G 7. AXA Affin General Insurance Bhd (23820-W) Ground Floor, Wisma Goldhill 67, Jalan Raja Chulan 50200 Kuala Lumpur P.O. Box 12200 50770 Kuala Lumpur Tel : 2170 8282 Fax : 2031 7287 Web : http://www.axa.com.my G 8. Berjaya Sompo Insurance Berhad (62605-U) 18th Floor, Menara BGI Plaza Berjaya, 12, Jalan Imbi 55100 Kuala Lumpur P.O. Box 12433 50778 Kuala Lumpur Tel : 2117 2118 Fax : 2144 7297 Web : http://www.bgi.com.my GL 9. Etiqa Insurance Berhad (9557T) Level 19, Tower C, Dataran Maybank 1, Jalan Maarof 59000 Kuala Lumpur P.O. Box 10799 50925 Kuala Lumpur Tel : 2297 3888 Fax : 2297 3800 Web : http://www.etiqa.com.my R 10. Hannover Rueckversicherung AG Malaysian Branch (993601-H) Suite 31-1, 31st Floor, Wisma UOA II No. 21, Jalan Pinang 50450 Kuala Lumpur Tel : 2687 3600 Fax : 2687 3760 Web : http://www.hannover-re.com



GL 11. ING Insurance Berhad (17007-P) Menara ING 84, Jalan Raja Chulan 50200 Kuala Lumpur P.O. Box 10846 50927 Kuala Lumpur Tel : 2058 4838 Fax : 2161 0549 Web : http://www.ing.com.my G 12. Kurnia Insurans (Malaysia) Bhd (44191-P) Menara Kurnia, Blok B4, 23rd Floor Pusat Dagang Setia Jaya No. 9, Jalan PJS 8/9 46150 Petaling Jaya G.P.O. Box 11228 50740 Kuala Lumpur Tel : 7875 3333 Fax : 7875 9933 Web : http://www.kurnia.com.my G 13. Lonpac Insurance Bhd (307414-T) 6th Floor, Bangunan Public Bank 6, Jalan Sultan Sulaiman 50000 Kuala Lumpur P.O. Box 10708 50722 Kuala Lumpur Tel : 2262 8688 Fax : 2715 1332 Web : http://www.lonpac.com R 14. Malaysian Reinsurance Berhad (664194-V) 12th Floor, Bangunan Malaysian Re No. 17, Lorong Dungun, Damansara Heights 50490 Kuala Lumpur P.O. Box 11068 50990 Kuala Lumpur Tel : 2096 8000 Fax : 2096 7000 Web : http://www.malaysian-re.com.my

GL 15. MCIS Zurich Insurance Berhad (435318-U) Wisma MCIS Zurich, Jalan Barat 46200 Petaling Jaya P.O. Box 345 46916 Petaling Jaya Selangor Darul Ehsan Tel : 7652 3388 Fax : 7957 5964 Web : http://www.mciszurich.com.my

G 16. MSIG Insurance (Malaysia) Bhd (46983-W) Level 21-23 & 27-29, Menara Weld No. 76, Jalan Raja Chulan 50200 Kuala Lumpur P.O. Box 11034 50732 Kuala Lumpur Tel : 2050 8228 Fax : 2026 8086 Web : http://www.msig.com.my G 17. Multi-Purpose Insurans Bhd (14730-X) 9th Floor, Menara Multi-Purpose Capital Square, No. 8, Jalan Munshi Abdullah 50100 Kuala Lumpur P.O. Box 10122 50704 Kuala Lumpur Tel : 2034 9888 Fax : 2694 5758 Web : http://www.mpib.com.my R 18. Munchener Ruckversicherungs-Gesellschaft Malaysian Branch (993676-M) Suite 13.1, Level 13, Menara IMC 8, Jalan Sultan Ismail 50250 Kuala Lumpur P.O. Box 11132, 50736 Kuala Lumpur Tel : 2032 4488 Fax : 2032 5822 Web : http://www.munichre.com G 19. Overseas Assurance Corporation (Malaysia) Berhad (102249-P) Level 18, Menara Great Eastern 303, Jalan Ampang, 50450 Kuala Lumpur G.P.O. Locked Bag No : 11036 50734 Kuala Lumpur Tel : 4259 7888 Fax : 4813 2737 Web : http://www.oac.com.my G 20. Pacific & Orient Insurance Co. Berhad (12557-W) 11th Floor, Wisma Bumi Raya No. 10, Jalan Raja Laut 50350 Kuala Lumpur P.O. Box 10953, 50730 Kuala Lumpur Tel : 2698 5033 Fax : 2693 8145 Web : http://www.pacific-orient.com



G 21. Progressive Insurance Bhd (19002-P) 7th, 9th & 10th Floors, Menara BGI Plaza Berjaya, 12, Jalan Imbi 55100 Kuala Lumpur P.O. Box 10028, 50700 Kuala Lumpur Tel : 2118 8000 Fax : 2118 8098 Web : http://www.progressive-ins.com.my

GL 22. Prudential Assurance Malaysia Berhad (107655-U) Level 17, Menara Prudential No. 10, Jalan Sultan Ismail 50250 Kuala Lumpur P. O. Box 10025, 50700 Kuala Lumpur Tel : 2031 8228 Fax : 2032 3939 Web : http://www.prudential.com.my G 23. QBE Insurance (Malaysia) Berhad (161086-D) No. 638, Level 6, Block B1 Pusat Dagang Setia Jaya (Leisure Commerce Square), No. 9, Jalan PJS 8/9 46150 Petaling Jaya, Selangor Darul Ehsan P.O. Box 10345, 50720 Kuala Lumpur Tel : 7861 8400 Fax : 7873 7430 Web : http://www.qbe.com.my G 24. RHB Insurance Berhad (38000-U) Level 12, West Wing, The Icon No 1, Jalan 1/68F, Jalan Tun Razak 55000 Kuala Lumpur P.O. Box 10835, 50726 Kuala Lumpur Tel : 2180 3000 Fax : 9281 2729 Web : http://www.rhbinsurance.com.my

R 25. Swiss Reinsurance Company Ltd (993718-U) 28th Floor, Menara Keck Seng 203, Jalan Bukit Bintang 55100 Kuala Lumpur Tel : 2148 6092 Fax : 2144 7199 Web : http://www.swissre.com

G 26. The Pacific Insurance Berhad (91603-K) Level 6, Menara Prudential 10, Jalan Sultan Ismail, 50250 Kuala Lumpur P.O. Box 12490, 50780 Kuala Lumpur Tel : 2176 1188 Fax : 2070 1881 Web : http://www.pacificinsurance.com.my

R 27. The Toa Reinsurance Company, Limited (993924-T) Kuala Lumpur Branch 28th Floor, UBN Tower 10, Jalan P. Ramlee, 50250 Kuala Lumpur Tel : 2732 5911 Fax : 2732 5915 Web : http://www.toare.co.jp G 28. Tokio Marine Insurans (Malaysia) Berhad (149520-U) 29th & 30th Floor, Menara Dion, 27, Jalan Sultan Ismail, 50250 Kuala Lumpur P.O. Box 10794, 50724 Kuala Lumpur Tel : 2026 9808 Fax : 2026 9708 Web : http://www.tokiomarine.com.my G 29. Tune Insurance Malaysia Berhad (30686-K) Bangunan Tune Insurance 36, Jalan Ampang, 50450 Kuala Lumpur P.O. Box 12564, 50774 Kuala Lumpur Tel : 2070 2828 Fax : 2072 4150 Web : http://www.tuneinsurance.com G 30. Uni.Asia General Insurance Berhad (16688-K) 9th Floor, Menara Uni.Asia 1008, Jalan Sultan Ismail 50250 Kuala Lumpur P.O. Box 6120 (Pudu), 55916 Kuala Lumpur Tel : 2693 8111 Fax : 2693 0111 Web : http://www.uniasiageneral.com.my

GL 31. Zurich Insurance Malaysia Berhad (8029-A) 11th Floor, Menara Zurich, 12, Jalan Dewan Bahasa, 50460 Kuala Lumpur P.O. Box 10553, 50716 Kuala Lumpur Tel : 2146 8000 Fax : 2142 5863 Web : http://www.zurich.com.my

Key : -

G - General Insurance BusinessGL - General and Life Insurance BusinessR - Reinsurance Business

INDICATORSINSURANCE

Source:-ISM

WRITTEN PREMIUMS

YEAR FIRE MOTOR MAT MEDICAL P.A

2006 1,977.6 4,377.3 1,199.2 398.3 703.3 2007 2,003.8 4,459.9 1,242.8 468.5 754.6 2008 2,123.7 4,911.5 1,248.4 550.0 852.2 2009 2,237.3 5,288.1 1,231.5 587.3 965.7 2010 2,291.8 5,968.6 1,353.6 643.5 1,088.4 2011 2,398.8 6,382.4 1,489.3 822.2 1,151.2 2012 2,571.2 6,978.2 1,565.5 875.7 1,173.2

Source:-ISM

WRITTEN PREMIUMS

YEAR BONDS CAR & ENG LIAB WC & EL

2006 30.6 441.4 308.7 135.9 2007 44.9 434.4 328.9 144.3 2008 49.6 454.8 376.5 149.7 2009 47.0 457.3 411.5 147.4 2010 38.6 423.5 415.6 159.6 2011 43.3 524.3 446.4 171.3 2012 52.0 610.5 496.3 205.5

RMMillion

RMMillion

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

02006 2007 2008 2009 2010 2011 2012

YEAR

RM

MIL

LIO

N FIREMOTORMATMEDICALP.A

1,400

1,200

1,000

800

600

400

200

02006 2007 2008 2009 2010 2011 2012

YEAR

RM

MIL

LIO

N

BONDSCAR & ENGLIABWC & EL



Source:-ISM

CLAIMS RATIO BY SECTORS

YEAR BONDS CAR & ENG LIAB WC & EL

2006 10.3% 46.9% 32.6% 23.8% 2007 3.5% 80.9% 23.4% 21.5% 2008 2.3% 60.2% 13.5% 22.0% 2009 7.6% 23.8% 33.3% 16.3% 2010 -9.0% 38.0% 25.0% 18.4% 2011 10.4% 45.8% 41.1% 16.0% 2012 2.2% 57.3% 29.7% 14.4%

Source:-ISM

CLAIMS RATIO BY SECTORS

YEAR FIRE MOTOR MEDICAL MAT P.A

2006 42.4% 71.2% 65.9% 47.1% 38.7% 2007 41.1% 80.1% 76.5% 56.4% 35.8% 2008 30.7% 82.7% 74.7% 50.0% 36.0% 2009 26.0% 80.0% 73.6% 31.2% 35.8% 2010 26.1% 77.9% 77.4% 29.0% 30.4% 2011 30.8% 76.8% 64.4% 38.8% 31.5% 2012 27.8% 72.8% 55.6% 29.9% 28.9%

100%

80%

60%

40%

20%

0%

CLA

IMS

RAT

IO (%

)

YEAR

2006 2007 2008 2009 2010 2011 2012

FIREMOTORMEDICALMATP.A

100%

80%

60%

40%

20%

0%

-20%

CLA

IMS

RAT

IO (%

)

YEAR

BONDSCAR & ENGLIABWC & EL

2006 2007 2008 2009 2010 2011 2012



Source:-ISM

UNDERWRITING EXPERIENCE

YEAR EARNED NET CLAIMS COMMISSIONS MANAGEMENT U/WRITING PREMIUMS EXPENSES MARGIN

2006 6,913.8 4,196.0 650.4 1,613.0 454.4

2007 7,259.3 4,690.1 690.6 1,674.1 204.6

2008 7,996.2 5,041.4 757.2 1,735.4 462.3

2009 8,384.7 5,067.8 802.5 1,757.8 756.6

2010 8,981.2 5,321.9 818.9 1,787.5 1,052.9

2011 9,717.7 5,683.2 901.9 1,866.8 1,265.9

2012 10,527.5 5,773.6 999.5 2,064.8 1,689.6

RMMillion

2006 2007 2008 2009 2010 2011 2012

RM

MIL

LIO

N

EARNED PREMIUMSNET CLAIMSCOMMISSIONSMANAGEMENTEXPENSESU/WRITING MARGIN

12,000

10,000

8,000

6,000

4,000

2,000

0

YEAR



TERM CHAIRMAN DEPUTYCHAIRMAN

2012 – 2013 Mr. Chua Seck Guan Mr. Kong Shu Yin (MSIG Insurance (Malaysia) Bhd) (RHB Insurance Berhad) (from 31/10/2012) (from 31/10/2012)

Mr. Wong Kim Teck Mr. Chua Seck Guan (Kurnia Insurans (Malaysia) Bhd) (MSIG Insurance (Malaysia) Bhd) (from 23/4/2012 – 30/10/2012) (from 23/4/2012 – 30/10/2012)

2011 – 2012 En. Hashim Harun Mr. Wong Kim Teck (Malaysian Reinsurance Bhd) (Kurnia Insurans (Malaysia) Bhd)

2010 – 2011 En. Hashim Harun Mr. Tan Kok Guan (Malaysian Reinsurance Bhd) (Lonpac Insurance Bhd)

2009 - 2010 En. Hashim Harun Mr. Jahanath Muthusamy (Malaysian Reinsurance Bhd) (AXA Affin General Insurance Bhd)

2008 - 2009 Mr. Cliff Lee Koon Yew En. Mohd Yusof Idris (13/03/2008 – 31/03/2009) (Oriental Capital Assurance Bhd) (Tahan Insurance Malaysia Berhad) 2007 - 2008 En. Zainal Abidin Mohd Noor Mr. Cliff Lee Koon Yew (20/04/2007 – 29/02/2008) (Tahan Insurance Malaysia Berhad) (Etiqa Insurance Berhad) 2006 - 2007 En. Hashim Harun En. Mohd Yusof Idris (Uni.Asia General Insurance Bhd) (Oriental Capital Assurance Bhd)

2005 - 2006 En. Hashim Harun En. Anuar Mohd Hassan (Uni.Asia General Insurance Bhd) (Malaysian National Reinsurance Bhd)

2004 - 2005 En. Anuar Mohd Hassan En. Hashim Harun (Malaysian National Reinsurance Bhd) (Uni.Asia General Insurance Bhd)



2001 - 2002 En. Kassim Zakaria En. Anuar Mohd Hassan (Mayban General Assurance Bhd) (Malaysian National Reinsurance Bhd)

2000 - 2001 En. Kassim Zakaria En. Anuar Mohd Hassan (Mayban General Assurance Bhd) (Malaysian National Reinsurance Bhd)

1999 - 2000 En. Anuar Mohd Hassan - (Malaysian National Reinsurance Bhd)

1997 - 1999 En. Anuar Mohd Hassan Mr. Adrian Loh Heong Chow (Malaysian National Reinsurance Bhd) (Kurnia Insurans (M) Bhd)

1994 - 1997 Mr. Adrian Loh Heong Chow En. Anuar Mohd Hassan (Hong Leong Assurance Bhd) (Malaysian National Reinsurance Bhd)

1993 - 1994 En. A. Subri Abdullah En. Dzulkifli Mohd Salleh (Malaysian Co-operative Insurance Society Ltd) (Malaysian National Reinsurance Bhd)

1990 - 1993 En. Dzulkifli Mohd Salleh En. A. Subri Abdullah (Malaysian National Reinsurance Bhd) (Malaysian Co-operative Insurance Society Ltd)

1988 - 1990 YB Datuk Abdul Latiff Hussain En. Dzulkifli Mohd Salleh (Malaysia British Assurance Bhd) (Malaysian National Reinsurance Bhd)

1985 - 1988 En. Dzulkifli Mohd Salleh Mr. Lau Khuan Siew (Malaysian National Reinsurance Bhd) (Malaysia British Assurance Bhd)

1984 - 1985 Tuan Hj Mansor Masikon En. Abdullah Bin Ishak (Progressive Insurance Sdn Bhd) (Arab Malaysian Insurance Sdn Bhd)

Roll of Honour1984 to 2013

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Documents

PERSATUAN INSURANS AM MALAYSIA - · PDF filePERSATUAN INSURANS AM MALAYSIA (General Insurance Association of Malaysia) The Persatuan Insurans Am Malaysia ... Mr. Francis Lai (Progressive