1.Background In Malaysia, the sum Insured for a basic fire policy is calculated based on the cost of rebuilding/reconstructing the building in the event of a total loss to its current state (excluding the cost of land). This is however subject to the terms and conditions of the Malaysian Fire Tariff. 2.Property under [...]
Kuala Lumpur, 2 August 2014 – The General Insurance Association of Malaysia (PIAM) revealed that net claims incurred by general insurers and takaful operators for bodily injury and property damages due to road accidents has increased to RM1.384 billion in the first quarter of 2014, representing a 5 per cent increase from RM1.319 [...]
Kuala Lumpur, 30 July 2014 – In a statement issued today, the General Insurance Association of Malaysia (PIAM) clarified the insurance coverage and claims options available to the next-of-kin of victims of the MH 17 tragedy. PIAM revealed that there have been many queries on the coverage that general insurance policies provide against [...]
30 July 2014 The General Insurance Association of Malaysia (PIAM), representing all general insurers and reinsurers in Malaysia, is deeply saddened by the loss of lives as a result of the MH17 tragedy which has left the nation in shock. We offer our heartfelt condolences to the families and friends of all those [...]
MH17 INCIDENT – STATEMENT BY PERSATUAN INSURANS AM MALAYSIA (PIAM) Kuala Lumpur, 18 July 2014 – The General Insurance Association of Malaysia (PIAM), representing all general insurers and reinsurers in Malaysia, is deeply saddened by the loss of lives as a result of the MH17 tragedy which has left the nation in shock. [...]
Kuala Lumpur, 27 May 2014 – The General Insurance Association of Malaysia (PIAM), representing all general insurers and reinsurers in Malaysia, has affirmed that its members have collectively agreed to simplify procedures for processing all the personal accident insurance claims for passengers and crew members on-board MH370. Due to the nature of this [...]
1.Please share with us the type of home/property insurance coverage available for homeowners and home buyers. Buying a house is most likely the biggest investment for most people, yet, many people are not aware if they have taken up adequate home insurance to protect their property assets. Generally, there are three main types [...]
Kuala Lumpur, 21 January, 2014 – The general insurance industry recorded a growth of 6.6 percent in gross premiums to RM 12,423 billion for the third quarter of 2013 compared to RM11,658 billion in the corresponding period last year. General Insurance Association of Malaysia’s (PIAM) Chairman, Chua Seck Guan, attributed the growth to [...]
Kuala Lumpur, 10 January 2014– Five years ago, James had invested most of his savings to purchase a RM250,000 home and sank another RM60,000 to furnish his home. To facilitate the purchase, he has taken an 80 per cent housing loan from a local bank. As one of the bank requirements is to [...]
PIAM YOUNG MANAGERS GET INSPIRED PIAM Promoting Talent Development In the General Insurance Industry Kuala Lumpur, 13 December 2013 – The General Insurance Association of Malaysia (PIAM) through its Young Manager’s Think Tank (YMTT), recently organised its annual breakfast talk. Themed, “Passion For Success”, the talk was attended by 60 young managers from [...]
