Tani Malaysia

Scope of Tani Malaysia Pool

NIAM at the invitation of Bank Negara Malaysia put forward a national Agriculture Insurance Scheme with special focus on Paddy Yield Shortfall Insurance in 2004. The idea was well received by member companies but was deferred due to high premium rates. Whilst the deferment was a disappointment, it was a blessing in disguise as the target sector was plagued with perennial flood and pest related losses.

As there are increasing initiatives by the government to develop the Agriculture sector, NIAM EXCO directed the Tani Malaysia Technical Committee to explore the possibility of setting up a new Tani Malaysia Scheme geared toward commercial Livestock and Poultry Farms to capitalize on new opportunities.

We are pleased to present the following:

TANI MALAYSIA - STANDING COMMITTEE

Mr Lai Poong Shen (Chairman) Oriental Capital Assurance Bhd
Mr Polun Perumal Tani Management Sdn Bhd
Ms Teoh Bee Lan Malaysian Reinsurance Bhd
Mr Choo Seng Poh RHB Insurance Bhd
Mr Paul Lee Seng Hock The Pacific Insurance Bhd
Datin Naimah Nt Ayob Uni. Asia General Insurance Bhd
En Ibrahim Ismail Labuan Reinsurance Bhd
En Wan Rosli Shaharuddin Takaful Ikhlas Sdn Bhd

 

PARTICIPATING COMPANIES

Labuan Reinsurance (L) Bhd
Malaysian Reinsurance Bhd
MUI Contineutal Insurance Bhd
Oriental Capital Assurance Bhd
Progressive Insurance Bhd
RHB Insurance Bhd
Takaful Ikhlas Sdn Bhd
Uni. Asia General Insurance Bhd
STRUCTURE OF TANI MALAYSIA SCHEME
 
 
 
 
STRUCTURE OF TANI MALAYSIA SCHEME WITH TAKAFUL MEMBERS
 
 
 
 
KEY PLAYERS AND THEIR RESPECTIVE ROLES
 
Player
Key Roles
  • Participating member company
  • To market the business, issue policy, collect premium, settle claim and provide nett capacity to Tani Pool
  • To establish Standing Committee to oversee the operation of Tani Malaysia Scheme
  • Tani Management (Malaysia) Sdn Bhd
  • To provide Research and Development
  • To conduct Risk Survey/Assessment
  • To initiate dialogue with Government agencies / relevant agencies
  • To prepare, review and update underwriting guidelines
  • To provide training to Consortium members
  • To investigate and recommend claim settlement
  • To monitor the trend in Agriculture Insurance
 
 
 
KEY ROLE OF POOL MANAGER
 
Player
Key Roles
  • Malaysian Re
  • To render the accounts of Tani Pool, showing the business underwritten for the quarter to Consortium members, effect settlement and arrange reinsurance