Last week, it was reported that the motor insurers lost more than $200 million in 2008 and that the insurance premiums are set to rise significantly in 2009.
Last May, the General Insurance Association of Singapore announced bold measures to tackle this matter. They involved measures that could cause much inconvenience to motorists, but the Association promised that these measures would arrest the problem.
Today Paper asked me to write an article on this matter last May. It is published in the paper. I was sceptical about the masures. Perhaps, someone can asked the Assocation to comment on the failure of their measures?
Tan Kin Lian
1 comment:
I was told by a driver infront that I had bumped into his boot causing a slight scratch (pls note that our cars have a lot on our side doors). He asked for 200 dollars for private settlement. As I had no visible damage & not sure if I had bumped into his boot (he stopped suddenly claiming to avoid bumping into another car and I also had to stopped abruptly and heard my things banged in my boot instead), so I asked him to submit insurance claim. He tried to use a lot of threats (like loosing NCD, claimed a lot and boot might be spoilt,etc). Then later, he sms me to reduce 200 to 80 dollars to be transferred to his bank account, and tried to call me a few times. I ignored him as I already asked him to claim through insurance. For your comments and advice pls, also useful to other drivers. Should we install a video recorder in our car to protect ourselves? Thanks a lot!
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