The interest of policy holders
will also be protected because, under the insurance law, the companies will be held responsible for mis-selling and higher penalties are now imposed.
The desired results could not be achieved as no relief was provided to the aggrieved policy holders
1m fine was for setting policies in favour of master policy holders
under non-employee/employer groups.
It not only provides policy holders
a facility to keep insurance policies in electronic form but also enables them to undertake changes, modifications and revisions in the insurance policies with speed and accuracy.
In 2013, there is an estimated MYR 6 million of funds from matured policies that are left unclaimed by policy holders
They are expected to increase takaful firms' ability to distribute surpluses to policy holders
and dividends to shareholders, he said.
Addressing how takaful solvency requirements -- a concept similar to capital adequacy ratios for banks -- are calculated will help to ensure firms match the risks on their books to their future obligations to policy holders
, Al Baker said.
On the other hand, the CMA represented by the Insurance Policy Holders
department, has receives complains from policy holders
in a bid to solve the problems between policy holders
and insurance companies.
com)-- While Hurricane Irene carved her destructive patch along the Eastern Seaboard; the Emergency Claims Agents from The Public Adjusters have been mobilized in New York, New Jersey, Maryland, North Carolina and South Carolina and are ready to assist policy holders
who suffer property damage.
A new individual-focused insurance programme will now cover medical expenses of policy holders
incurred in Oman as well as in India.
59 billion as bonus on with-profit policies of policy holders
as per the actuarial evaluation of 2010.
In fact, policy holders
switching their insurers within a year would lose, rather than gain.