Hanyu Advisory

Hanyu Advisory Hanyu Advisory began in 2019 is now one of the reputable and leading insurance agencies. We manage insurance risks for individuals and businesses.

We always pride ourselves to deliver the best insurance advisory services.

A client reported a windstorm claim during the Chinese New Year. The ridge tiles of one of the apartment blocks were rip...
15/02/2022

A client reported a windstorm claim during the Chinese New Year. The ridge tiles of one of the apartment blocks were ripped off and broke into pieces by the windstorm. As it was an isolated damage and due to the bad weather conditions then, the Client had requested for repairs to be carried out immediately. The Insurers were notified of the damage where approval was later obtained for the Client to proceed with repairs. The Client was advised to take photographic evidence of the damage for future reference. Later, we attended the site to carry out the post repairs inspection to confirm the consistency of the damage to the photographic evidence obtained by the Client. We assisted the Client with the claim and also obtained the necessary documents.

Wishing all our clients and business associates as well as friends and relatives and also their families, a Happy "Chap ...
14/02/2022

Wishing all our clients and business associates as well as friends and relatives and also their families, a Happy "Chap Goh Meh"!

Wishing all my clients and business associates as well as friends and relatives and also their families, a Happy & Prosp...
30/01/2022

Wishing all my clients and business associates as well as friends and relatives and also their families, a Happy & Prosperous Chinese New Year!

When a building landlord requested insurance for building, he also asked for stocks and contents in the said building.In...
29/01/2022

When a building landlord requested insurance for building, he also asked for stocks and contents in the said building.

In this case, he revealed that he rented the building to a tenant who occupied it as a warehouse. He did not know what type(s) of stocks or contents were stored or kept in the warehouse.

We explained to the landlord that he could not insure the stocks or contents in the warehouse as they did not belong to him. He had no insurable interest in the stocks or contents.

The landlord however could insure the building against fire, theft, flooding, and other forms of damage. But a risk survey is usually required to know of the risk exposures like the type(s) of stocks that the tenant stored or kept in the warehouse.

In this example, the tenant kept many books and stationery items in the warehouse. The tenant had been occupying the warehouse for many years which was used to keep books and stationery items meant for religious use.

The landlord was advised of implementations of the improvements of fire risks such as providing fire extinguishers in the warehouse and also asking the tenant to visit the premises every fortnightly since it would be left 'unattended' most of the time.

Some businesses invested in advanced inventory management to keep track of items in stock, monitor any changes in the in...
24/01/2022

Some businesses invested in advanced inventory management to keep track of items in stock, monitor any changes in the inventory and also launch a mechanism for more accurate calculation of business profitability indicators.

An inventory list can be printed out from the system to reconcile the expected and actual inventory for all or selected items, see the amount of inventory loss or surplus inventory and keep documents for each inventory.

From the insurance point of view, an inventory list is an effective tool used for the identification and quantification of the types of stock items in the premises.

The inventory valuation in the system will give an understanding of the total cost of the inventory and this helps Underwriters to know their exposure if they decide to accept the risk.

It is important that the inventory list in the system is regularly updated. Some of the techniques used to manage inventory are stock audit, tracking of stock levels at all times, etc.

The photo shows an example of an inventory list for liquor and wine stocks in a business establishment.

Liquor, wine and beer are considered part of the stocks in a restaurant whether they are own goods, goods held in trust,...
20/01/2022

Liquor, wine and beer are considered part of the stocks in a restaurant whether they are own goods, goods held in trust, or on commission and consignment whilst contained in the premises. Underwriters usually require the stock records as the value of such stocks may be substantial. If the records are not properly updated or none maintained at all, it is necessary to carry out a risk survey at the premises.

From the survey, we are able to evaluate or guesstimate the nature and type of stocks from the places where they are kept in fridges, crates, etc, and also at the places or stores in the restaurant. It can also help us to evaluate or guesstimate the value of the stocks at any one time.

The exercise will help us to determine whether the overall sum insured proposed for the stocks in the restaurant is adequate or not.

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Suite 12E & F, Menara Northam, No. 55, Jalan Sultan Ahmad Shah
George Town
10050

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Monday 09:00 - 18:00
Tuesday 09:00 - 18:00
Wednesday 09:00 - 18:00
Thursday 09:00 - 18:00
Friday 09:00 - 18:00

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