MNI Slates Talk On Professional Indemnity Insurance
By James Kon

Bandar Seri Begawan - Around 30 individuals from the engineering, accounting, secretarial and architectural profession yesterday attended a talk on Professional Indemnity Insurance.

Malaysia National Insurance Berhad organized the talk Monday afternoon at the Purple Jade Room of the Centrepoint Hotel in Gadong.

Miss Poh Yee, the Brunei Branch Manager of Malaysia National Insurance gave a brief introduction on Malaysia National Insurance (MNI).

According to her, MNI is incorporated in 1970 and is 100 per cent owned by MNI Holdings Berhad. With an asset base of over RM6 billion, MNI is the largest Malaysian composite insurer.

Now with 28 branches all over east and west Malaysia including Brunei, MNI started its operation in Brunei since its merger with Sime AXA.

She also said that the objective of the talk was to provide a better understanding on Professional Indemnity Insurance among the public.

On hand to give an in-depth view of the issues of Professional Indemnity was Janice Chan, the business leader for Southeast Asia and CEO of General ElectricEmployers Reinsurance Corporation based in Kuala Lumpur.

She described that Professional Indemnity Insurance is a form of insurance made available to professional practitioners against their legal liabilities to pay damages to third parties who have sustained financial losses due to the negligence of the assured or his employees in the course of their business activities.

During the talk, Miss Janice also touched on issues which included Understanding the Policy, Policy Coverage, General Exclusions, Basis of Cover, the Proposal Form and Claims Discussion. -- Courtesy of Borneo Bulletin

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