Are you covered?: LonPac deal irks Malaysian insurers and employers

Article Abstract:

Malaysian Human Resources Minister Lim Ah Lek is being criticized by the domestic insurance industry for awarding am exclusive workers' compensation deal to London & Pacific (LonPac), a general insurance company controlled by a Hong Kong financier. The deal included a mandate that Malaysian employers place their workers' compensation coverage for migrant workers through LonPac, which will generate an estimated 120 million ringgit in sales for LonPac in 1997, more than doubling its business. The mandate effectively creates a workers' comp monopoly for LonPac. Employers have complained about increased costs and lack of choice, while insurers have complained that the deal lacked transparency; only five insurers made tender offers, and the amounts of the bids remain uncertain.

Direct Property and Casualty Insurance Carriers, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Fire, marine, and casualty insurance, Insurance Regulation, Workmen's Compensation Insurance, Insurance industry, Contracts, Malaysia, Monopolies, Workers' compensation, Insurance law, London & Pacific

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Honeymoon's over: stalemate threatens a six-year political alliance

Article Abstract:

Kelantan state in Malaysia is the focal point for conflict between two formerly allied political parties, Pas and Semangat 46. Semangat 46 is an offshoot of the United Malay's National Organization, Umno, which through the National Front controls all the other states in Malaysia. The Sultan of Kelantan, Tengku Ismail Petra, is the nephew of the Semangat president Tengku Razaleigh Hamzah. The minister of the state and Pas leader Nik Aziz, the Sultan, and Razaleigh are having difficulties among themselves and in their relation to the Malaysian leadership.

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