Category: Motor Insurance Crisis

Police and Attorney-General should explain why they had failed to take any action although Bank Negara had lodged its first police report about the Mercantile Insurance Sdn. Bhd. scandal more than five years ago

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Friday, 15th July 1994:

Police and Attorney-General should explain why they had failed to take any action although Bank Negara had lodged its first police report about the Mercantile Insurance Sdn. Bhd. scandal more than five years ago

The Police and Attorney-General should explain why they had failed to take any action although Bank Negara had lodged its first police report about the Mercantile Insurance Sdn. Bhd. scandal more than five years ago Continue reading Police and Attorney-General should explain why they had failed to take any action although Bank Negara had lodged its first police report about the Mercantile Insurance Sdn. Bhd. scandal more than five years ago

DAP calls for a full inquiry into Bank Negara’s six-year record as the supervisory guardian of the insurance industry

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in the Dewan Rakyat on Thursday, 14th July 1994 on the Insurance Amendment Bill

DAP calls for a full inquiry into Bank Negara’s six-year record as the supervisory guardian of the insurance industry

DAP calls for a full inquiry into Bank Negara’s six-year record as the supervisory guardian fo the insurance industry

Mercantile Insurance Sdn. Bhd. is the third insurance company to be liquidated, after the First General Insurance Sdn. Bhd. (FGI) in 1977 and the SEG Insurance Sdn. Bhd. (SEG) IN 1988. Continue reading DAP calls for a full inquiry into Bank Negara’s six-year record as the supervisory guardian of the insurance industry

Most unfair of Bank Negara not to wait until Parliament has passed amendments to Insurance Act to provide for payment of claims at 70 sen on each ringgit before applying for liquidation of Mercantile Insurance Sdn. Bhd.

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Sunday, July 10, 1994:

Most unfair of Bank Negara not to wait until Parliament has passed amendments to Insurance Act to provide for payment of claims at 70 sen on each ringgit before applying for liquidation of Mercantile Insurance Sdn. Bhd.

It is most unfair to the 122,000 Mercantile motor insurance policyholders that Bank Negara had not waited until Parliament had passed amendments to the Insurance Act to provide for payment of claims at 70 sen on each ringgit before applying to the courts for the liquidation of Mercantile Insurance Sdn. Bhd. Continue reading Most unfair of Bank Negara not to wait until Parliament has passed amendments to Insurance Act to provide for payment of claims at 70 sen on each ringgit before applying for liquidation of Mercantile Insurance Sdn. Bhd.

Bank Negara should publicly identify the seven insurance companies which have refused to provide insurance cover for old vehicles

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Monday, June 27, 1994:

Bank Negara should publicly identify the seven insurance companies which have refused to provide insurance cover for old vehicles

Bank Negara has confirmed that there are seven insurance companies which have refused to give insurance cover for old vehicles – four for commercial vehicles over five years old and three for any vehicles over 10 years old. Continue reading Bank Negara should publicly identify the seven insurance companies which have refused to provide insurance cover for old vehicles

Finance ministry should investigate whether Bank Negera had initially given the ‘green light’ to certain motor insurance companies to reject insurance cover for old cars

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Monday, 13th June 1994:

Finance ministry should investigate whether Bank Negera had initially given the ‘green light’ to certain motor insurance companies to reject insurance cover for old cars

The statement by the Deputy Finance Minister, Senator Datuk Mustapha Mohamed, that the Finance Ministry will take action if insurances firms continue to refuse to issue policies for old vehicles is most welcome and timely. Continue reading Finance ministry should investigate whether Bank Negera had initially given the ‘green light’ to certain motor insurance companies to reject insurance cover for old cars

Liong Sik’s undertaking to raise in Cabinet next Wednesday the motor insurance crisis welcomed although I had asked him to raise it yesterday

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Thursday, 9th June 1994:

Liong Sik’s undertaking to raise in Cabinet next Wednesday the motor insurance crisis welcomed although I had asked him to raise it yesterday

I welcome the undertaking given by the Transport Minister, Datuk Dr.Ling Liong Sik to raise in Cabinet next Wednesday the motor insurance crisis, although I had ashed him to raise it in the Cabinet yesterday. Continue reading Liong Sik’s undertaking to raise in Cabinet next Wednesday the motor insurance crisis welcomed although I had asked him to raise it yesterday

DAP calls for formation of Cabinet Committee to resolve the motor insurance crisis

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Wednesday, 8th June 1994:

DAP calls for formation of Cabinet Committee to resolve the motor insurance crisis

The first question that is now asked when there is an accident is whether the motor insurance policies of the vehicles involved are from the Mercantile Insurance Sdn. Bhd. Continue reading DAP calls for formation of Cabinet Committee to resolve the motor insurance crisis