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Kuala Lumpur, 7 March 2023 –Malaysians were once again reminded of the stark reality that changing climate and weather pattern means severe flooding no longer only occurs in the monsoon season months of November and December. This can be seen from the recent flood in southern Johor where unabated torrential rain had displaced 40,000 people with [...]

Kuala Lumpur, 27 December 2022 – The Special Report on Impact of Floods in Malaysia 2021 issued by the Department of Statistics Malaysia [1] reported overall losses of RM6.1 billion incurred by the floods that affected several Malaysian states in late December 2021 and early January 2022. Flash floods in Malaysia over the last few [...]

Kuala Lumpur, 15 November 2022 – PIAM wishes to offer a fuller and more accurate explanation to the facts alluded to in the article by Mervyn Lai in The Edge, as published on 5th November 2022, at 11:30am. The author may have missed an important paragraph in the judgment of the Competition Appeal Tribunal (“CAT”) [...]

PIAM and 23 Others v Competition Commission (Grounds of Decision)

Kuala Lumpur, 4 November 2022 – The general insurance industry has registered an increase in gross direct premiums of 10.3% to RM 9.8 billion for the first six months of 2022 compared to the same period last year. However, underwriting profit had contracted by 21.2% to RM 810 million, largely due to losses in Motor [...]

Kuala Lumpur, 9 September 2022 – Persatuan Insurans Am Malaysia (PIAM) and its members welcome the decision issued by the Competition Appeal Tribunal (“CAT”) on 2 September 2022 unanimously setting aside the Final Decision of the Malaysia Competition Commission (“MyCC”) dated 14 September 2020 against PIAM and 22 general insurers in its entirety. The financial [...]

Kuala Lumpur, 12 August 2022 – With reference to the allegations featured in thearticle titled “Lanun insurans rompak Baucar Perlindungan Tenang besar-besaran?”,aired on Utusan TV on 10 August 2022 pertaining to the Perlindungan Tenang Voucher (PTV) programme, Persatuan Insurans Am Malaysia (PIAM) was made aware that an individual had claimed to represent PIAM in a [...]

Kuala Lumpur, 7 June 2022 - Persatuan Insurans Am Malaysia (PIAM) is announcing the closure of the CSR Flood Relief Fund (CSR Fund), effective 15 June 2022. The CSR Fund with contribution amounting to RM2.43 million was set up in January 2022 by PIAM and its members, to alleviate the hardship faced by owners of [...]

Kuala Lumpur, 11 May 2022 - Persatuan Insurans Am Malaysia (PIAM) announced the appointment of a 10-member Board of Directors for 2022 – 2024, at the association’s 44th Annual General Meeting.   Mr. Antony Lee, Chief Executive Officer (CEO) of AIG Malaysia Insurance Berhad was elected as Chairman of the Board for a two-year term, [...]

Kuala Lumpur, 22 January 2022 – The recent flash flood that hit Malaysia has affected many people nationwide. The flood risk is likely to persist during this monsoon season and it is of huge concern as many Malaysians are still uninsured against flood. Most Malaysians are uninsured against flood Only 4% of motor (comprehensive) policies [...]