Pedestrian partially at fault for crossing the road on green !

Posted 20 March, 2016 by Surely
in Real Lives, Real Stories

In the past week, a number of insurance-related news have surfaced.
If you are interested but lazy to scour for them, liking our Facebook is an easy and convenient way to keep yourself updated. Today’s post is all about our commentary on each insurance related news. Kind of like a weekly recap.
Without much ado, we will jump right into the first one:


The new standard B1 coverage (Medishield).


A new standard Integrated MediShield Plan for B1 ward is being introduced by 5 insurers from 1 May 2016 onwards, so as to give the consumers a choice of update over Basic MediShield Life coverage.

The new Integrated Shield Plan (IP) will cover nine out of 10 Class B1 public hospital bills only but the main benefits over MediShield Life are namely
1. You get to choose your doctor and
2. Stay a 4 bedded air-conditioned B1 ward and
3. Able to have a TV to watch in the hospital stay.


Oh you TV addict !

Oh, you TV addict!


Our Take

The new B1 plan is meant for those who cannot pay for the insurers’ existing Integrated Shield Plan (IP).
If you are able to afford your existing IP, it is not a good idea to downgrade to the standard B1 plan.
The standard B1 plan has $150,000 annual limit on claims while most existing IPs have high yearly limit.

You could add a rider to cover your deductible and co-insurance for existing IPs but it is unknown if the standard B1 plan will offer that option.
In fact, since the standard B1 plan does not have a standard pricing, some insurers actually charges more for B1 plan than its other IP plans. Why pay more for less ?


Doctrine to live by.

Doctrine to live by.


While we love standard IP so that the insurers may compete on prices for the benefit of consumers, it does not seem to be happening.
Some insurers are using it to do price-anchoring so that you may choose other plans of theirs.
Therefore, please proceed with caution if you are considering the new standard B1 plan.


Pedestrian partially at fault for crossing the road on green.


Mr Li Jianlin was crossing the road on the green man.
He crossed two lanes and was on his second or third step into the third lane when a taxi collided into him. The lights were green in Mr Li’s favour; Mr Li was hospitalised for 3 months due to severe head & hip injuries.
Despite all the above, the Court of Appeal ruled that he must be 15% liable for his accident because he did not turn his head to check.


Not doing this will cost you 15%

Not doing this will cost you 15%


Our Take

What the Hell !???!!!
We hear you and we feel the same.
The fact that the green man was on, makes this judgement very puzzling.

Even with the 3 judges, one of them (Chief Justice Menon) was not in favour of 15% contributory negligence for the pedestrian.
Let’s just say we are not a big fan of the other 2 judges.


Join CJ Menon fan club today !

Join the CJ Menon fan club today!


This case was first won by the Mr Li’s lawyer in High Court.
The insurer of the taxi was displeased and appealed, resulting in this decision.
We also guess that the teenager Mr Li will have to pay for the cost of appeal since he has lost the case.


One last curve ball

Given the concept of res judicata (a matter that has been adjudicated by a competent court and may not be pursued further by the same parties), the taxi company is now clear to recover 15% from Mr Li.

Talking about a possible triple whammy!

Mr Li may receive this T Shirt from the insurer

Mr Li may receive this T-Shirt from the insurer.


10 financial advisers fined for anti-competitive behaviour


When iFast Financial offered 50% commission rebate on, a group of Financial Advisory firm exerted pressure for iFast to withdraw the offer.
After Competition Commission of Singapore (CCS)’s investigation was concluded, this group of 10 companies were fined for anti-competition acts.

The 10 firms are Avallis Financial; Cornerstone Planners; Financial Alliance; Frontier Wealth Management; IPP Financial Advisers; JPARA Solutions; Professional Investment Advisory Services (PIAS); Promiseland Independent; RAY Alliance Financial Advisers; and WYNNES Financial Advisers.




Our Take

We hate anything that goes against the interest of the public.
Thus, this is a much-welcomed move.
Just last week, we wondered aloud about why competition is not happening in the insurance industry.
We guess this may be one of the reasons.


Wrapping Up


Study the new B1 plan intently and walk the road carefully.
Life’s too precious to risk underinsured or being knocked down by a negligent driver.
For your easy reading, we provide you with the links below.



All you need to know about the standard B1 class Integrated Shield Plan
New B1 insurance plan fails to address some concerns.
Pedestrians with right of way ‘must still share responsibility’
10 financial advisers fined for anti-competitive behaviour aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

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