We thank Mr Yong Chai Yim for his letter (Stringent guidelines needed on car accident claims; July 7). A set of pre-repair survey guidelines have been in place since April 2016 for motorists making claims to their vehicles. It requires a joint inspection of the vehicle damage to be made by a motor surveyor mutually agreed on by the insurers of the claimant and the defendant. This is aimed at improving transparency in the submission of damage claims. It helps all parties to agree on the extent of the damage and the scope of the repair to be done. This pre-repair survey framework is adopted by all motor insurers in Singapore. Motorists should seek clarification with their insurer on any repair bill they receive as their insurer would have considered the third-party claim against the pre-repair survey guidelines. The general insurance industry also looks into cases of inflated and fraudulent claims. The General Insurance Association of Singapore as the industry's trade association, has … [Read more...] about Car insurers require pre-repair inspection to be carried out
Car insurance singapore
Cars are one of the most valuable personal possessions in Singapore. Due to the high import duties and other taxes imposed on automobiles in the country, an average car can easily cost more than a S$100,000, while luxury cars can easily cost upwards of several hundred thousands of dollars. Given this, it's not surprising that some carowners feel compelled to only use premium petrol on their prized possessions. But, are high-octane grade fuel really worth the extra cost? Only Engine Capacity Above 2,000 CC Are Worth Fueling with Premium Petrol According to our calculation, only ultra-premium cars with engine capacity well in excess of 2,000 CC are worth the cost of using premium fuels. To come to this conclusion, we compared the extra cost of using premium fuel over for 10 years against the cost of engine repair or replacement, since the main benefit of using premium fuels is preventing engine damages, especially for high-end cars. For example, an owner of an average car like Toyota … [Read more...] about Should you really use premium petrol for your car?
SINGAPORE - A man was jailed for nine years on Monday (June 18) for masterminding an elaborate motor insurance scam involving the largest amount of fraudulent claims to date - almost $1.6 million. About $300,000 was paid out by insurance companies. Sollihin Anhar, 45, played a key role in a syndicate that roped in car owners for the scam, recruited phantom drivers and passengers, and guided them in submitting fraudulent claims to 13 insurance companies, including Aviva Limited and AXA Insurance Singapore. The car owners patronised Sollihin's workshop E-Motor, or Master Motors, an auto repair shop where E-Motor was located . His key accomplice was Rahmat Mohd, a 37-year-old former dispatch rider. Under the plan, which prosecutors described as "easy to fake yet hard to detect", Rahmat would drive the cars to certain locations to engineer traffic accidents. He would then remind the phantom drivers to report these "accidents" by filing Singapore Accident Statements. Sollihin promised … [Read more...] about Mastermind of motor insurance scam involving largest amount of claims, almost $1.6 million, jailed 9 years
Private-hire car drivers who are part of Uber’s driver-partner programme will now be able to earn extra income from advertising on or inside their vehicles.Uber Singapore’s head of operations, Jonathan Wong, announced this and other changes in a Jan 29 briefing about the third and final pillar of the ride-hailing company’s “90 Days of Change” campaign.Wong said that the latest changes to be rolled out on Jan 30 was about ehancing “earning experience” for drivers, which means improving income stability and reliability, as well as increasing the number of income streams available to them.At the briefing, Wong told the media that Uber will now connect keen drivers, on a first-come-first-served basis, to ad agencies which will pay drivers to carry ad decals or merchandise.A single decal can earn a driver up to $200 a month, and Uber will not take a cut from the advertising earnings, Wong said.“We can connect them to the appropriate … [Read more...] about Uber Singapore is linking drivers to ad agencies to help enhance their earnings
ZURICH, Jan 8 (Reuters) – Zurich Insurance is selling its Singapore life assurance business, with policies providing $4.5 billion of coverage, to Singapore Life as part of the Swiss group’s overhaul under Chief Executive Mario Greco.Singapore Life said it will become responsible for all the life, critical illness and disability policies of Zurich Life Singapore customers in the Asian country, with the transfer expected to be completed in the first half of 2018.Terms of the deal were not disclosed.The agreement follows Zurich Life Singapore’s closure to new business in December 2015 and does not affect any of Zurich’s other business in Singapore.David Kneale, chief executive of Zurich Life Singapore, said the decision followed Zurich’s strategy.Greco has promised to make the group leaner and more efficient, with a $1.5 billion cost-cutting programme centred on a plan to simplify its structure and improve accountability and performance.Zurich viewed its … [Read more...] about Zurich Insurance sells Singapore life assurance business