Motor insurance premium increased by 400%!

Just read a reply from Pui Phusangmook, SVP & GM NTUC Income, to the claim by Tan Boon Tong that his repair bill was high, $19,800. The photos shown in the ST today, of the damage car in the workshop and those shown yesterday were grossly different. But that was not my concern. I am startled by the comment that Tan Boon Tong's insurance premium had gone up by 400% because of the insurance claim. Actually no, I was not startled by this. I was shocked that his insurance premium would have gone up by 30% on renewal even if he has not make any claims. Wow! 30% increases in premium for nothing! Is this robbery or what? Motorists just have to pay. What choice have they got? Go shopping and compare prices from one insurer to the next? Can they get their insurance from Malaysia?

Great Singapore Sales going to HDB flats

Fernvale Crest, sounded like some place in Bukit Timah, very high end. No it is at the junction of Jalan Kayu and Sengkang West Way. Oops, Jalan Kayu, Sengkang! Anyway, it is BTO, so the design and quality must be good and the price, oh at a great discount, very affordable. They are cheaper by 35-45% from others in the vicinity. Now, isn't it a steal? 2 rm from $74k-$98k, 3 rm from $116k-$157k and 4 rm from $203k-$250k. Cheap, cheap and cheap. Less than 10 years ago, 4 rm flats probably cost about $120k. It depends on what you are comparing. Go to the big shopping centres offering the Great Singapore Sales. Many have jacked up their prices only to bring it down as a great discount. That is ingenuity in pricing. Don't worry about the pricing. Fernvale Crest is going to be our new standard for a Swiss Standard of living.

CASE is working on the abuses in motoring insurance

Motorists should be heartened by CASE's involvement in the motoring insurance scam. It is reported that CASE will be setting up a review committee this month to look into the problem. High time. One suggestion is for motorists to make statutory declarations of an accident. This of course will bring about more costs and time involvement. The question is, why is a police report not enough and a statutory declaration is deemed necessary? Can anyone make a false police report? I believe it is criminal and the person can be charged in court for doing so. What I think is necessary is not to add more layers of administrative work and protective measures. The current procedure may be adequate. What it needs is enforcement and a team of people assigned to deal with it and make an example of a few cases of frauds, charged the culprits and send them to jail. That will send a strong signal to the crooks in the scam. How ridiculous it is to pay $5000 pa or $400 a month just on insurance to have the right to drive a car? Many people may not even drive 10 days a month and it means they will have to pay $40 daily for it. ERP is expensive, what about insurance cost? This is a big rip off! We are going into the realm of madness.

My words are getting prophetic

In no time I will be calling myself a prophet. Yesterday I was mumbling about the great news that patients would be paying less for hospital bills from their pocket but expect higher contributions to their Medisave. Even before the ink was dry, or before the sound of the keyboard faded away, news was out. CPF Minimum sum raised to $117,000 and Medisave Account raised to $32,000. And ceiling for Medisave is also raised to $37,000. If medical cost is not hauled back, looks like no immortals or demigods can do it, the people must be prepared to keep pumping more money into their Medisave. Now the rich citizens of Singapore have $149,000 in the lockup. The other prophetic statement I made earlier was my guess that the Malaysian Special Branch could actually be awared of Mas Selamat's whereabout in Malaysia long ago. Now it is in the paper, that they knew from the day he arrived in Malaysian soil. I am a prophet!

Sin Boon Ann apologised

Actually I was very disappointed. I am sure Sin Boon Ann did not make his comments out of nothing. Ok, quoting an unnamed source from the internet was a mistake. But was there biased reporting? Ok, don't use the word biased, but was the coverage fair? With Han Fook Kwang's admission that they could have done better, would Sin Boon Ann won his case should it be taken to court? In this case, with the privilege of speaking in Parliament, he would not have to go that path. What would happen if Sin Boon Ann insists that what he said was a fair comment? Was his apology just for quoting an unnamed source or was it an apology for saying that ST was biased in reporting which he then believed it was wrong and could not be substantiated?