Information provided by Freddy Neo, General Manager NTUC Income.
1. NTUC Income received 300 claims for stolen vehicles in 2004, 387 claims in 2005, and 200 claims for 6 months of 2006. The number is increasing each year.
2. In general, the theft rate for Toyota RAV4, Toyota Harrier, Lexus and motorcycles are higher than other models.
3. We have settled about 95% of the claim, after the police has completed its investigation that it is a genuine theft case. We will settle the claim within 7 working days from the police investigation report.
4. We compensate the owner based on the market value of the vehicle at the time of loss. We have a practice note to explain how this is computed. We arrive at a fair market value which is usually accepted by the owner.
5. If the vehicle is recovered prior to settlement, we will pay for the repair of the damages. If it is recovered after the vehicle has been de-registered, we will sell the wreck to a dealers. Usually, the value is quite low.
6. The number of cars stolen in Singapore is comparatively small, and is done by individuals. In Malaysia, most vehicles are stolen by organised criminal syndicates. Most stolen vehicles are smuggled overseas. Some are driven in Malaysian with a fake chassis number.
- ► 2015 (612)
- ► 2014 (144)
- ► 2013 (501)
- ► 2012 (1269)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1654)
- ► 2008 (2105)
- ► 2007 (1803)
08/27 - 09/03
- 2,600 policyholders benefited from their top up
- Trade union invested in Growth Fund and Flexi Cash...
- Competitors scared of our competitive rates
- More customers are willing to visit business cente...
- Superior return from NTUC Income's Fund
- Support our Insurance Advisers
- General public is surprised about the wastage
- NTUC Income offers the lowest premium for Term Ins...
- Earn 14% more, by investing with NTUC Income
- Incomeshield covers terrorism
- Insurance customer choose to buy from business cen...
- You can trust NTUC Income
- Our policies does not have a limit on critical ill...
- eNN - electronic Neighbourhood News
- Invest your CPF savings in a Growth policy
- Stolen vehicles
- Website visitors like Logic9 (Sudoku)
- Survey on Parallel Imported Cars
- Law on contract - offer and acceptance
- Commission to Agents
- How to invest the CPF savings
- Better to invest in a diversified portolio of equi...
- Advice for a mother to save for a child's educatio...
- Profile of investors in Growth plan
- Positive features of Growth plan
- Fair and honest views
- Reason to invest in Flexi Cash
- Insurance agents knocking on doors of residential ...
- ▼ 08/27 - 09/03 (28)
- ► 2005 (159)