Must see for EK pilots - Income protection issue
Join Date: May 2007
Location: Middle Earth
Posts: 9
Likes: 0
Received 0 Likes
on
0 Posts
Cyclops Camel
AB thanks for the update. I'm looking forward to receiving further details but in the meantime can you confirm that the licensed fund manager you are using has the relevant trade licenses to carry out insurance transactions?
I have been told that the MoE has set up an insurance association to review and monitor the insurance market and the new LIPS scheme will need to ensure that it complies with all local regulations to avoid being shut down, fined or worse.
This has always been one of my concerns with the LIPS scheme and I have never received an answer to it.
Thanks,
I_P
I have been told that the MoE has set up an insurance association to review and monitor the insurance market and the new LIPS scheme will need to ensure that it complies with all local regulations to avoid being shut down, fined or worse.
This has always been one of my concerns with the LIPS scheme and I have never received an answer to it.
Thanks,
I_P
Join Date: Feb 2007
Location: i don't know
Posts: 320
Likes: 0
Received 0 Likes
on
0 Posts
Why don't you just give it a break and let him sort out the things. Instead you stirr up already slightly troubled water and lead the bloodhounds right to the prey!
I appreciate AB's work and believe it's on the right track and will be fine AND legal. In the mean time I PAY into the scheme, even if there remains a tiny little risk.
Once everything is sorted out, I am sure all the moaners will jump on the bandwagon, having saved one or two years of contributions, and will be the loudest to demand and claim .........
Merry Christmas
GMDS
I appreciate AB's work and believe it's on the right track and will be fine AND legal. In the mean time I PAY into the scheme, even if there remains a tiny little risk.
Once everything is sorted out, I am sure all the moaners will jump on the bandwagon, having saved one or two years of contributions, and will be the loudest to demand and claim .........
Merry Christmas
GMDS
Join Date: May 2007
Location: Middle Earth
Posts: 9
Likes: 0
Received 0 Likes
on
0 Posts
And a merry christmas to you too!
GMDS, I am sorry that you seem to have taken exception to my post, I don't know where the line gets drawn between stirring things up and asking a perfectly legitimate and BTW a very important and valid question. In fact the same question I have asked a number of times before and STILL have no answer to.
I have absolutely no intention of leading bloodhounds anywhere, I just would like to know if the new scheme will be properly licensed in accordance with the UAE Law. The 'old' scheme was not and if the new scheme isn't I want absolutely no part of it because sooner or later things will go pear-shaped.
If it is licensed correctly I will be very interested in looking at the scheme and taking it on its merits.
How hard can it be?
I_P
I have absolutely no intention of leading bloodhounds anywhere, I just would like to know if the new scheme will be properly licensed in accordance with the UAE Law. The 'old' scheme was not and if the new scheme isn't I want absolutely no part of it because sooner or later things will go pear-shaped.
If it is licensed correctly I will be very interested in looking at the scheme and taking it on its merits.
How hard can it be?
I_P
Join Date: Apr 2007
Location: The Heavens
Posts: 144
Likes: 0
Received 0 Likes
on
0 Posts
I-P it is a perfectly valid question...after the new details are announced. Either way, I am sure that what ever AB arranges will never satisfy your due diligence and we will hear yet more from you then. So can we wait?
How hard can it be?
FSM
How hard can it be?
FSM
Join Date: Feb 2007
Location: i don't know
Posts: 320
Likes: 0
Received 0 Likes
on
0 Posts
I_P
And just how intelligent and productive is to do such enquiries on a open and public forum??
You know AB's mail , so do it there. This is for rumours and whinging etc..
Serious stuff that affects us as professionals should be done in a professional way.
And just how intelligent and productive is to do such enquiries on a open and public forum??
You know AB's mail , so do it there. This is for rumours and whinging etc..
Serious stuff that affects us as professionals should be done in a professional way.
Join Date: Jan 2000
Posts: 212
Likes: 0
Received 0 Likes
on
0 Posts
ZQN,
LIPS has been restructured utilising the services of a licenced fund manager in Dubai. They will take over all admin, collection of premiums and investment of the fund - reducing costs and increasing yield. Two new committee members have volunteered their time to assist in overseeing the fund. Both very senior and well respected management pilots.
Meanwhile about 300 members current and still no claims.
Feel free to ring me anytime to discuss. The official launch of the new LIPS will be in Jan.
Merry Xmas,
AB.
LIPS has been restructured utilising the services of a licenced fund manager in Dubai. They will take over all admin, collection of premiums and investment of the fund - reducing costs and increasing yield. Two new committee members have volunteered their time to assist in overseeing the fund. Both very senior and well respected management pilots.
Meanwhile about 300 members current and still no claims.
Feel free to ring me anytime to discuss. The official launch of the new LIPS will be in Jan.
Merry Xmas,
AB.
