Tag: motor insurance
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AIG removes cover for McLarens driven out of Singapore
In a rare move by an insurer, AIG has decided, with effect from 1 Apr 2024, to stop insuring McLarens when they are driven out of Singapore. What this means is that any losses arising from trips across the Causeway and beyond will not be covered by the insurer, even if the car owners have…
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Warehouse Fire At Gul Drive
A warehouse at Gul Drive caught fire last Saturday morning, which resulted in 13 emergency vehicles and 50 firefighting personnel being deployed to contain the blaze. The fire involved waste materials in the warehouse which measured 20 meters by 40 meters. As a result of the large area, firefighters had to take about 2 hours…
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AXA Exits General Insurance Business
After announcing the completion of sale to HSBC earlier in February, AXA recently made the decision that its general insurance (GI) arm, along with its motor insurance, will be heading into a run-off. This means that while AXA will continue to honour any ongoing insurance coverage and claims for the next 1 year till all…
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Cargo Ship Fire
Recently, a cargo ship carrying thousands of luxury cars caught fire while being transported from Germany to Rhode Island. While it was a relief that the crew members were safely rescued from the ship, the same cannot be said for the estimated 4000 vehicles aboard the cargo ship (Felicity Ace). The huge fire likely engulfed…
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Fires At Industrial Sites
Within a short span of 1 week, there were 2 large fires that occurred at industrial sites. The first one took place on 21 Jan 2022 at Gul Lane, where the fire was about the size of a football field and utilized 20 emergency vehicles from the Singapore Civil Defence Force (SCDF) and 70 firefighters…
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Mapletree Settlement
2 years back in 2019, Hong Kong saw months of protests against what citizens perceived to be China interference in its politics. What began as peaceful protests ultimately turned violent, with clashes often between protesters and the police. Public properties such as MTR stations, schools, government buildings were vandalized and even private properties weren’t spared…