Originally posted by Red5xx:We'll just apply how to work more efficacy and improve productivity..
By using less fuel, less time to earn same amount of money nia...
Anything wrong with that?
Originally posted by Poolman:This so called "disagree" drivers who against fare hike , for me , are those Ah Peh's mentallity drivers , our new generations drivers , many of us here , thought other wise .
We are more darings , more willing to accept new challenges .
And gained new heights , not them .
I've always said , taxi fare must be fixed base on market forces .
Fixed base on supply & demand .
alamak, at least respect ah peks lah, they are the pioneer one, if not for them, we may not be here, different generation TD have different thinking, there are pros and cons in everything, as long as you think you are right, so be it.
We, d members of all taxi coy, r at d mercy of d govtment, taxi coy, lta
taxi coy apply or not....up to them ..... they d 1 who decide
lta approve or not .... up to them .... they d 1 who decide
TDs (IF) go up .... STILL UP 2 ME.... 1 2 pick or dont pick .....I DECIDE
Originally posted by Leomanz:We, d members of all taxi coy, r at d mercy of d govtment, taxi coy, lta
taxi coy apply or not....up to them ..... they d 1 who decide
lta approve or not .... up to them .... they d 1 who decide
TDs (IF) go up .... STILL UP 2 ME.... 1 2 pick or dont pick .....I DECIDE
Fare hike yes, but rental cannot hike more than fare.
Originally posted by Hiei1979:Fare hike yes, but rental cannot hike more than fare.
Dont speak 2 soon. Juz like pap govtment style
Give by left hand ...... take back by right hand.
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http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1117102/1/.html
Singapore News
Motor insurance premiums continue to rise
By Rachel Kelly | Posted: 17 March 2011 1804 hrs
-----------------------------------
SINGAPORE : Motor insurance premiums will continue to go up this year as insurers look to recoup underwriting losses, said the president of the General Insurance Association of Singapore (GIA) Derek Teo.
GIA said the industry's underwriting losses widened to S$48.9 million, some S$4 million higher than in 2009.
Last year, the average motor insurance premium rose 6.5 per cent to S$1,100.
In 2009, it had increased by a larger 20 per cent.
GIA said the two major floods last year led to 428 motor insurance claims amounting to S$11.6 million.
The number of reported accidents in Singapore also remained high at some 162,500 last year.
Last year, earnings from motor insurance premiums increased by nine per cent to more than S$1 billion, slower than the 26 per cent increase the previous year.
This coincided with an all-time high number of vehicles recorded last year at 945,829, up 2.2 per cent from 925,518 in 2009.
GIA president Derek Teo said: "The bottom line is that you still have underwriting losses despite the premium increases in prior year from 26 per cent to nine per cent last year.
"It is unlikely for us to see a more than 20 per cent increase for this year, but as I said, with an increase in underwriting loss, we can expect premium to have an increase.
"But it is going to be very much moderated; not as high in the last 18 months".
Motor accounts for the largest slice of the general insurance pie, making up roughly 40 per cent of the industry.
Overall, the general insurance industry continued its growth momentum with total gross premium income climbing 3.7 per cent to S$3.03 billion for 2010.
Underwriting profits in the industry gained 4.4 per cent to S$198.1 million.
All classes of business except marine cargo posted growth in premiums.
Personal accident was the leader of the pack, gaining 10 per cent, with motor following closely behind with an increase of nine per cent.
Health insurance reported the biggest casualty in terms of underwriting, with underwriting profit slumping 56 per cent from S$10.4 million in 2009 to S$4.6 million last year.
The number of reported accidents in Singapore remains high at 162,527 in 2010, in comparison to 164,079 in 2009.
However more motorists are reporting accidents within 24 hours.
In 2010, some 81 per cent of accidents were reported within 24 hours, a jump from 64 per cent in 2008.
GIA is targeting this number to hit 90 per cent in the next two years.
Health's share of the non life market also fell from 6.2 per cent in 2009 to 5.8 per cent in 2010.
The industry's total incurred loss ratio improved last year by 0.8 per cent to 57.6 per cent, from 58.4 per cent in 2009.
Going forward, Mr Teo said he had been optimistic about the year ahead.
"I think, over the years, our industry has grown (steadily) and we expect it to continue in the same manner for the rest of this year," he said.
-CNA/al/wk
Originally posted by Leomanz:
Dont speak 2 soon. Juz like pap govtment styleGive by left hand ...... take back by right hand.
--------------------------------------------------------
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1117102/1/.html
Singapore News
Motor insurance premiums continue to rise
By Rachel Kelly | Posted: 17 March 2011 1804 hrs
-----------------------------------
SINGAPORE : Motor insurance premiums will continue to go up this year as insurers look to recoup underwriting losses, said the president of the General Insurance Association of Singapore (GIA) Derek Teo.
GIA said the industry's underwriting losses widened to S$48.9 million, some S$4 million higher than in 2009.
Last year, the average motor insurance premium rose 6.5 per cent to S$1,100.
In 2009, it had increased by a larger 20 per cent.
GIA said the two major floods last year led to 428 motor insurance claims amounting to S$11.6 million.
The number of reported accidents in Singapore also remained high at some 162,500 last year.
Last year, earnings from motor insurance premiums increased by nine per cent to more than S$1 billion, slower than the 26 per cent increase the previous year.
This coincided with an all-time high number of vehicles recorded last year at 945,829, up 2.2 per cent from 925,518 in 2009.
GIA president Derek Teo said: "The bottom line is that you still have underwriting losses despite the premium increases in prior year from 26 per cent to nine per cent last year.
"It is unlikely for us to see a more than 20 per cent increase for this year, but as I said, with an increase in underwriting loss, we can expect premium to have an increase.
"But it is going to be very much moderated; not as high in the last 18 months".
Motor accounts for the largest slice of the general insurance pie, making up roughly 40 per cent of the industry.
Overall, the general insurance industry continued its growth momentum with total gross premium income climbing 3.7 per cent to S$3.03 billion for 2010.
Underwriting profits in the industry gained 4.4 per cent to S$198.1 million.
All classes of business except marine cargo posted growth in premiums.
Personal accident was the leader of the pack, gaining 10 per cent, with motor following closely behind with an increase of nine per cent.
Health insurance reported the biggest casualty in terms of underwriting, with underwriting profit slumping 56 per cent from S$10.4 million in 2009 to S$4.6 million last year.
The number of reported accidents in Singapore remains high at 162,527 in 2010, in comparison to 164,079 in 2009.
However more motorists are reporting accidents within 24 hours.
In 2010, some 81 per cent of accidents were reported within 24 hours, a jump from 64 per cent in 2008.
GIA is targeting this number to hit 90 per cent in the next two years.
Health's share of the non life market also fell from 6.2 per cent in 2009 to 5.8 per cent in 2010.
The industry's total incurred loss ratio improved last year by 0.8 per cent to 57.6 per cent, from 58.4 per cent in 2009.
Going forward, Mr Teo said he had been optimistic about the year ahead.
"I think, over the years, our industry has grown (steadily) and we expect it to continue in the same manner for the rest of this year," he said.
-CNA/al/wk
I agree that the fare must go up. If ppl got money to take taxi, they sure take taxi. If got no money to take taxi then take the public transport.
Lta got no say in the fare hike as the taxi bz has been deregulated. Its now based on the market conditions . Even CASE got no say in this . They will advised the public to take the taxis without the price hike.
Fare going up doesn't mean our intake will go up, if rental go up behind fare up ++ fuel up, we may come back to square one, it is alway the paxs, the consumer that hv to pay for the differences, which is alway up up and away.