Page 227 - Contributed Paper Session (CPS) - Volume 1

CPS1283 Kelvin H.C.Y et al.
c) advanced innovations including usage-based insurance and
complex experience rating structures beyond existing Motor
Tariff, No-Claims-Discount or loading structures;
d) any benefits relating to the policy owner’s No-Claims-Discount
status or amount; and
e) products where premium rates deviate from the current Motor
Tariff rates for the Comprehensive, Third Party Fire and Theft,
or Third Party products, by more than 10%, or any other limit
subsequently specified by Bank Negara Malaysia.
Bank Negara Malaysia’s approval is required for all Fire new products, with
the exception of:
a) Large and Specialised Risks; and
b) Products where the premium rates for the Fire component of
the deviate from the current Fire Tariff by less than 30%, or any
other limit subsequently specified by Bank Negara Malaysia.

References
1. Bank Negara Malaysia. (2016). Phased Liberalisation of Motor and Fire
Tariffs. Bank Negara Malaysia (BNM/RH/PD 029-8).
2. Anderson. D., Feldblum. S, Modlin. C, Schirmacher. D., Schirmacher. E.,
and Thandi. N.. (2007). A Practitioner’s Guide to Generalized Linear
Models. CAS Study Note, pp. 4-39 only.

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