Fuel Rebate Can Now Be Claimed Online

Eligible vehicle owners can now apply for the fuel rebate disbursed by Pos Malaysia Berhad through the company's website, www.posonline.com.my. The online option complements the present mode of making claims at all post offices nationwide. All you need to do is sign up for Pos Online Account and follow the steps below:

• Log in with your Username and Password.
• Go to Cash Rebate Online and click on Cash Rebate.
• Key in your Car Registration No and other information required
• Select Mode of Payment either Money Order or Bank Account from the list then click “Next”
• Fill in the necessary information and click ‘Next’.
• Verify the information shown on the next screen, click ‘Confirm’.
• The status and details of your transaction will appear. Print the receipt for your future reference.

The eligible private vehicle owners shall receive their rebates in the form of Money Order (receive within seven (7) working days) or direct transfer to owner bank’s account (paid within three (3) working days).

If you experince trouble, contact their Customer Service Centre at 1 300 300 300 from 8:30 am - 9:30 pm, from Monday to Saturday or e-mel to csc@pos.com.my or visit www.pos.com.my

Towing charges up by 50%

IPOH: Towing charges are up by between 25% and 50%, depending on location, with immediate effect. Federation of Automobile Workshop Owners Association of Malaysia president Cho Chee Seng, citing rising costs, said the recommended fees within city limits (or for the first 20km) were RM100 for daytime towing and RM150 for night towing. For towing on the highway, charges would be RM150 for the first 20km during the day, and RM200 at night. For every additional kilometre, the charge would be RM1 (day) and RM2 (night). Previously, tow truck drivers charged RM80 for daytime towing and RM110 for night towing within city limits, and RM100 and RM150, respectively, for towing on the highway. “The last time we revised our charges was 10 years ago,” Cho said, noting that the fees did not include toll charges and additional equipment needed to recover vehicles such as cranes. Cho said the federation’s members would also increase their labour charges from today, to RM45 per hour from RM25 before.

Source : The Star, 1 July 2008

NO-FAULT LIABILITY: Low - income earners would feel the pinch

By : KANDIAH CHELLIAH, Klang

THE attorney-general said on Aug 26 last year that his office was undertaking a study to prepare a draft legislation for the no-fault liability (NFL) scheme to be implemented in Malaysia in due course.

The key benefits, the A-G elaborated, were that all victims would get compensation, regardless of who was at fault; payments would be prompt so that victims could get treatment; civil suits would be abolished by law; motor insurance companies would provide funds and only comprehensive insurance coverage would be allowed, with third-party insurance coverage to be abolished.

Under this scheme, both the negligent or reckless driver or rider of motor vehicles and the innocent driver/rider or their families would be compensated for their injuries or death and other loss and damages, such as medical bills, loss of earnings and other costs.

Under existing laws, only the innocent, i.e. not blame-worthy drivers/riders and their passengers/pillion if any, can successfully claim compensation from the negligent driver's /rider's insurers.

At present, the law allows for comprehensive cover and the minimum coverage known as third-party risk cover. The first, with a higher premium, covers one's own vehicle as well as compensation for injuries, death or losses to other road users that one negligently causes.

Third-party cover costs less but only compensates other road users that one negligently injures or cause death or damage to.

The point to note is that third-party insurance coverage for motor vehicles will be abolished. Third-party coverage costs only about 30 per cent of what the comprehensive type costs.

Vehicle owners at present have a choice, but not with the new scheme.This would burden low-income earners, rural residents, students and others who use motorcycles, vans, pick-up lorries or traders using vans for their business.

Between 40 and 45 per cent of road users are motorcyclists, and they pay RM50 to RM80 for third-party cover annually. This category of consumers will be hard-hit by the NFL scheme.

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Need for Travel Insurance

TRAVEL-SAVVY Malaysians today go all over the country to the various resorts as well as to other countries. There is nothing like visiting new places to broaden our minds and have fun at the same time.But no matter how exciting travel may be, there are still certain precautions we should take as we will be stepping into new and unfamiliar places. A good way to protect yourself should you encounter problems that crop up during your travels is to buy travel insurance. Over the next five weeks, we will be giving you tips on travel insurance, from choosing a policy to making insurance claims. We start by telling you why you should purchase travel insurance and how to go about it.

Why Buy?

While travel can be an exciting proposition, there could be situations where things may go wrong and travellers find themselves needing, for example, urgent medical assistance, help with replacing lost luggage or assistance with making an urgent trip home. Travel insurance is designed to protect you and your family against travel-related accidents, losses or interruptions. Always include travel insurance as part of your travel budget and enjoy peace of mind.Insurance is essential. Not ensuring you are safely covered on your vacation is a matter of being penny wise, pound foolish. Do not think “it won’t happen to me” – especially if you are planning an adventure-filled vacation.

Choosing A Policy

First, make sure the policy you intend to buy covers those countries you plan to visit and that it is for the full period of travel. It also helps if the insurance is recognised internationally or at least in the countries you are visiting. Make sure that your insurance company has a good network of foreign affiliates who can provide you with the assistance you may need. Many insurers provide worldwide assistance services. Check whether your insurance company provides you with a hotline number for emergency assistance in multiple languages in travel advice, emergency messages and medical referral. If you are travelling with your family, make sure everyone is included in the policy. Most policies will specify who qualifies as a member of the family under the insurance cover. If you have a medical history, it is important that you tell your insurer. You may invalidate your policy if you fail to disclose what is commonly known as a “pre-existing condition” to your insurer at the time of proposing for travel insurance. Like all purchases, you usually get what you pay for, so do not compare the prices only; take into account the benefits and the exclusions of the cover. If you intend to take part in extreme activities like winter sports, mountaineering, bungee jumping or scuba diving, check the policy as most standard policies will not provide such cover. You may want to discuss with your insurer on the possibility of extending the policy to cover such activities.

Source : NST Online ~ Travel Tips

Fuel Subsidy Rebates

Pos Malaysia: Plenty of time to get rebates
By : Jennifer Gomez
NST Online 13/06/2008

KUALA LUMPUR: Don't rush to get your fuel subsidy rebates from the post office tomorrow as you have about 300 days to do so. This was the appeal by Pos Malaysia Bhd.

Executive director and group chief executive officer Datuk Abu Huraira Abu Yazid said although Pos Malaysia was prepared to process the cash rebates for owners of some 1.7 million vehicles, there was no need for the people to rush to post offices.

"We will have the cash ready. But it will be easier for everyone if they just drop off the application forms. They will receive the money order within seven days," he said.

Owners of cars below 2,000cc and four-wheel-drive vehicles and pick-up trucks of up to 2,500cc are eligible for a cash rebate of RM625. Owners of motorcycles below 250cc are eligible for RM150.

Vehicle owners have until March 31 next year to claim the rebates.

Private vehicle owners renewing their road tax between April 1 this year and March 31, 2009, are eligible for the cash-back.

Each person is allowed to claim rebates for five vehicles.

Those who renewed their road tax between April 1 and May 31 can claim their rebates from tomorrow.

Those who renewed their road tax from June 1 can start collecting their rebates from the beginning of next month.

A total of 683 computerised post offices across the country will handle the payout.

Abu Huraira said those who wanted to take cash had to bring their identity card.

They need to fill in a form and provide their vehicle registration number.

This will then be verified through the Road Transport Department database.

"If the form is filled up properly, the counter process will only take three minutes."

More than 2,000 counter workers will be on duty at the 683 computerised post offices between 8.30am and 5pm to handle the rebate applications.

A Pos Malaysia executive will be stationed at every post office to help with enquiries.

There will also be an operations centre at the headquarters to facilitate enquiries from branch post offices.

Abu Huraira added that staff leave from tomorrow till the end of next month had been frozen.

For now, vehicle owners must collect the rebates themselves.

Pos Malaysia will unveil a plan for rebate collection by those living abroad later.

Takaful in Wikipedia (Bahasa Melayu)

To learn more about Takaful from Wikipedia in Bahasa Melayu, click the link ...

http://ms.wikipedia.org/wiki/Takaful

Insurance Terminology

• Insured / Policyholders ~ The person (or corporation) purchasing insurance.
• Insurer ~ A body or person authorised to sell insurance.
• Peril ~ A contingency or fortuitous happening which could losses. Cause of loss.
• Claim ~ A demand presented to the insurer, by policyholder or beneficiary, for the payment of the proceeds stated in the insurance policy.
• Underwriting ~ The process of reviewing applications for coverage. Applications that are accepted are then classified by the underwriter according to the type and degree of risk.
• Premium ~ The consideration an insured pays to the insurer for an insurance coverage of a specified nature for a specified policy period.
• Loading ~ A process used to determine insurance premium by adjusting the expected value of claim payments to provide an allowance for the cost of insurance-related services, uncertainty and profit.
• Risk ~ (a) A situation which cannot be controlled or perfectly foreseen. (b) The subject matter of an insurance contract.
• Loss ~ A claim either paid or payable due to the insurer's policy obligations.
• Insurance ~ A system for transferring the responsibility for paying for losses from one party to another.
• Insurable Risk ~ A Standard risk which an insurer is willing to insure at the standard rates.

Source : Oswald Timothy Edward & Yon Bahiah Wan Aris, "Fundamental of Insurance", UiTM, 2002.

The Concept of Takaful

Takaful in Arabics, means joint guarantee. Thus it can be visualised as a pact among a group of members or participants who agree to jointly guarantee among themselves against loss or damage that may inflict upon any of them as defined in the pact. Should any member or participant suffer a catastrophe or disaster he would receive a certain amount of money or financial benefit from a fund, as also defined in the pact, to help him meet the loss or damage.

In other word, the basic objective of Takaful is to pay for a define loss from a defined fund. Each member of the group pools effort to support the needy. It means mutual help among the group.


Source : Oswald Timothy Edward & Yon Bahiah Wan Aris, "Fundamental of Insurance", UiTM, 2002.

Definition of Insurance

Insurance is an agreement whereby a group of individuals facing similiar risks can share the fortuitous losses of the unlucky few by the transfer of such risks to the Insurer who agrees to compensate the losses.


Source : Oswald Timothy Edward & Yon Bahiah Wan Aris, "Fundamental of Insurance", UiTM, 2002.

Named Driver

Most of the Insured / Policyholder are not aware the benefit of the Named Driver. At the same time the insurance's agent also fail to provide advice to the Insured / Policyholder on the important to include the Named Driver into the Private Car Insurance Policy.

Do you know that the Second Named Driver can be included in the policy Free of Charge?

Yes, free of charge...

If you do not include the Named Driver, when you make a claim, the insurance company will impose the excess. Meaning that, the insurance company will not pay the loss in full. So, next time please remember to include the Named Driver.

You can also ask the agent to include additional 3rd, 4th ... Named Driver with additional charges of RM10 for one person.

No Claim Discount

What is No Claim Discount (NCD)?

"NCD" is mean No Claim Discount or also known as "NCB" which mean No Claim Bonus. NCD is a discount given to the Insurer / Policy Holder after completing one year insured period without any claim. The schedule of the NCD / NCB are as follows:

1. First Year 0%
2. Second Year 25%
3. Third Year 30%
4. Fourth Year 38.33%
5. Fifth Year 45%
6. Sixth Year onward 55%