21
May

Motor Insurance Rebate

Posted by admin

Saw from today newspaper,  is good news for none lazy driver like us cause we going to have 10% discount for renewing our Car Insurance, yeah pandam muka kau idiot insurance agent.

Rebates for direct insurance

By ROYCE CHEAH

PETALING JAYA: Come July 1, car owners who buy motor insurance directly from insurance companies without using the services of an agent will qualify for mandatory rebates, a move that could render agents redundant.

The move would see new customers being given a 5% rebate on their insurance if they buy it via channels such as the Internet, telemarketing, direct mailing or by walking into the insurance company. These customers would also get a 10% rebate for renewals in the second year.

In a circular sent to the General Insurance Association of Malaysia (PIAM) dated April 17, Bank Negara said the rebates would only apply to actual owners of the vehicles.

The circular added that Bank Negara had “no objections” to PIAM’s proposal for the mandatory rebates. This is understood to mean that the move would more likely be implemented than not.

Veteran insurance agent Hardyal Singh hit out at PIAM, saying the association did not take the views of 40,000 agents (15,000 of them full-time) into consideration.

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Category : Car News