Issue 23 (Jan – Feb 2014)

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COVER STORY:
Unintended Governance Challenges For CEOs There is no doubt that the corporate governance arrangements in listed companies have been improving over the years, and there have been a number of reasons for this. First, the preference by investors to put their money into companies with good transparency, rather than opaque corporate governance arrangements, has forced companies all around the world to improve in this area.  Second, the regular wave of corporate scandals over the years has catalysed regulators and stock exchanges to introduce more comprehensive corporate governance legislation and regulations to improve their surveillance methods.

FEATURES:
Importance of Retirement Planning: Financial Education for Retirees
Ask anyone about the importance of planning for his or her retirement and the answer is a resounding, “Yes, it is important.” yet, no matter how crucial retirement planning is, most people do not seem to have the urgency to equip themselves with a proper retirement plan that will see them through a financially secured retirement. There is a reluctance to plan for the future, as retirement often seems to be far away, but the reality is that it will come sooner than we think.

TREND:
Economic Growth, Regulatory Development Create Attractive Market in Malaysia  The Malaysian insurance industry is among the fastest emerging markets of the global insurance industry; its stable economic growth and well-developed regulatory framework have drawn the attention of international insurers. With the proposed financial services act 2013 and Islamic Financial Services Act 2013 effective this past June, the implementation of the internal capital adequacy assessment process (ICAAP) and the liberalization of the insurance sector, Malaysia provides a competitive operating environment with financial stability and a well-framed regulatory system for the finance and insurance sectors.

KNOWLEDGE MANAGEMENT:
Learning & Idea Capture  A key aspect of knowledge management (KM) at the personal and team level is to more 'collectively and systematically' capture the learning and ideas that are taking place. The concept of learning and idea capture provides a guide on how to do this.

INSIGHT:
Analysing Runoff Road Crashes A runoff road crash typically involves a single vehicle leaving the intended travel path. In most cases, the errant vehicle may encroach onto the roadside and collide with roadside furniture apparatus during this departure process.

DE-TARIFFICATION:
Challenges Ahead for De-tariffication With just two years to go before the long-awaited detariffication of motor insurance in Malaysia, it is certainly time for industry players to be developing the systems and educating both their staff and the public to make de-tariffication a reality as planned in 2016. The topic was certainly a hot button at the 3rd Malaysia Insurance Summit in Kuala Lumpur late last year.