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