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Sunday, March 7, 2010

Get MAS to act

After posting "How an insurer created a mess", I was happy to receive responses from some friends.

Here's one from May: "Bouquet to you for your persistence in upholding a principle.

"I think we should try to canvass Case to review the current system of accident claims. It appears to penalise the 'innocent' party in an accident.What do u think?"

My reply: "It is good idea, but I don't think Case is the organisation to do this. It is actually the insurance regulator in MAS who should be doing something but is not as far as I know."

May: "Sure, though I doubt MAS will do anything about it."

2 comments:

  1. why CASE and why MAS? Shouldnt it be the General Insurance Association of Singapore? What have they been doing all these years?

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  2. Ideally, it should be the General Insurance Association of Singapore. But as you know it is in no real hurry because the insurers always have the upper-hand in such matters. Unless the MAS puts pressure, the status quo is likely to remain.

    ReplyDelete