PIAM APPOINTS CHUA KIM SOON AS CHIEF EXECUTIVE OFFICER
Kuala Lumpur, 8 October 2024 – Persatuan Insurans Am Malaysia (PIAM) wishes to announce the appointment of Chua Kim Soon (Kim Soon) as the Chief Executive Officer of the Association. He will succeed Julie Lean Gim Chong, effective from 7 October 2024. Mr Chua Kim Soon, PIAM Chief Executive Officer PIAM’s Chairman, Ng Kok Kheng and its Board Directors welcome Kim Soon and look forward to working together to [...]
MOTORISTS ENCOURAGED TO #JOMLEVELUP THEIR MOTOR INSURANCE AND TAKAFUL KNOWLEDGE WITH MORE EDUCATIONAL RESOURCES
Kuala Lumpur, 25 July 2024 – Persatuan Insurans Am Malaysia (“PIAM”) and Malaysian Takaful Association (“MTA”), together with their respective member companies, in collaboration with Bank Negara Malaysia (BNM), announce the launch of a comprehensive educational microsite, a brand film, and an exciting contest designed to empower motorists and promote safe driving practices under the multi-year #JomLevelUp Consumer Education Programme (“CEP”). The new microsite, titled #JomLevelUp, serves as a one-stop [...]
PIAM APPLAUDS APPROVAL OF NEW MOTOR VEHICLE REPAIR STANDARDS
Kuala Lumpur, 17 July 2024 – PIAM, the General Insurance Association of Malaysia, enthusiastically supports the Malaysian Standard – Motor Vehicle Aftermarket Smash Repair Requirements. This significant standard was approved by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry Malaysia (MITI), on 30 May 2024. This heralds a new era of excellence and professionalism within the motor vehicle accident repair industry and [...]
PIAM ANNOUNCES NEW BOARD OF DIRECTORS FOR 2024 – 2026
Mr Ng Kok Kheng, Chairman of PIAM Board of Directors Kuala Lumpur, 9 May 2024 – Persatuan Insurans Am Malaysia (PIAM) announces the appointment of its Board of Directors for the 2024 to 2026 term, effective 25 April 2024. Mr Ng Kok Kheng was elected as Chairman of the Board for a two-year term. He brings over 30 years of experience in the insurance industry, including 17 years as CEO [...]
ENHANCED VEHICLE REPAIR STANDARDS ENSURES QUALITY CARS ON MALAYSIAN ROADS
Kuala Lumpur, 3 May 2024 – PIAM, the General Insurance Association of Malaysia continues to anticipate the release of the Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“JSM MS”) by Jabatan Standard Malaysia (“JSM”) in Q2 2024. This standard is expected to elevate the quality and professionalism of motor vehicle smash repair services by promoting the adoption of best industry practices. The general insurance industry also looks forward [...]
GENERAL INSURANCE INDUSTRY PREMIUM GREW 7.8% YoY AND UNDERWRITING PROFIT REDUCED BY 26% YoY IN 2023. INSURANCE CLAIMS PAYOUT RISES TO RM21M DAILY
Kuala Lumpur, 1 April 2024 – The general insurance industry recorded an increase in gross written premiums of 7.8% to RM21.4 billion for 2023 compared to the previous year. Despite the positive trajectory, the underwriting profit experienced a contraction of 26%, settling at RM1.16 billion. This decline is largely due to contraction in profitability for Motor and Fire lines of business. Specifically, the loss for Motor portfolio further deteriorated [...]
CONSUMERS TO BENEFIT FROM ENHANCED VEHICLE REPAIR STANDARDS IN MALAYSIA
Kuala Lumpur, 29 February 2024 – The general insurance industry in Malaysia fully supports the development of Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“JSM MS”), anticipated for release by Jabatan Standard Malaysia (“JSM”) in early 2024. Elevating standards and professionalism The JSM MS aims to uplift the quality and professionalism of motor vehicle smash repair workshop services by promoting the adoption of best industry practices. It encompasses [...]
JOINT STATEMENT BY BANK NEGARA MALAYSIA AND SECURITIES COMMISSION MALAYSIA FROM THE 12TH JOINT COMMITTEE ON CLIMATE CHANGE (JC3) MEETING
Kuala Lumpur, 29 February 2024 - The Joint Committee on Climate Change (JC3) held its 12th meeting on 23 February 2024 to review the progress of ongoing work and discuss priorities and action plans of JC3 for the year. In 2024, JC3 will continue to work with the Government, the financial industry and its partners on specific action plans to support a just and orderly transition of the economy. The members [...]
PIAM AND MTA LAUNCH CONSUMER EDUCATION PROGRAMME TO ENHANCE MOTORIST INSURANCE/TAKAFUL EXPERIENCE
#JomLevelUp Consumer Education Programme, a commitment to consumer education and empowerment towards the adoption of digital solutions for smoother motor insurance/takaful claims process #ILuvMyRide contest in conjunction with the Chinese New Year celebration to share positive stories about their car or motorcycle rides Kuala Lumpur, 14 February 2024 - Persatuan Insurans Am Malaysia (“PIAM”) and Malaysia Takaful Association (“MTA”), together with their respective member companies, in collaboration with Bank [...]
PIAM BACKS NEW STANDARDS FOR MOTOR VEHICLE REPAIR INDUSTRY IN MALAYSIA
Kuala Lumpur, 19 January 2024 – Persatuan Insurans Am Malaysia (“PIAM”) looks forward to the upcoming release of the Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“MS”) in the first quarter of this year. The MS is poised to establish new standards for the safe and proper repair of accident-involved motor vehicles. This initiative results from collaborative effort of key stakeholders in the motor accident repair ecosystem including [...]
