News Release

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 [...]

May 9th, 2024|News Release|

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 [...]

May 3rd, 2024|News Release|

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 [...]

April 1st, 2024|News Release|

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 [...]

February 29th, 2024|News Release|

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”) [...]

February 14th, 2024|News Release|

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 [...]

January 19th, 2024|News Release|

MALAYSIANS ENCOURAGED TO WEATHER THE STORM WITH FLOOD COVERAGE

Kuala Lumpur, 4 January 2024 – With persistent torrential rain affecting numerous states in Malaysia, it’s crucial for Malaysians to take immediate measures to protect their property and belongings. This proactive measure is to ensure a faster post-flood recovery. Undoubtedly, among the various disasters in Malaysia, floods are a recurring challenge, especially during monsoon season, [...]

January 4th, 2024|News Release|

CUSTOMER SATISFACTION SURVEY 2022 REVEALS POSITIVE GROWTH IN THE CUSTOMER SATISFACTION INDEX OF MALAYSIA’S GENERAL INSURANCE INDUSTRY

Kuala Lumpur, 14 December 2023 - Persatuan Insurans Am Malaysia (PIAM), Malaysian Takaful Association (MTA) and Life Insurance Association of Malaysia (LIAM) in collaboration with Bank Negara Malaysia (BNM), have released the results of the Customer Satisfaction Survey 2022 (CSS 2022). The findings, particularly within the general industry, revealed notable improvement in the Customer Satisfaction [...]

December 14th, 2023|News Release|

PIAM SUPPORTS A BETTER FUTURE FOR MOTOR VEHICLE REPAIR INDUSTRY IN MALAYSIA

Kuala Lumpur, 6 December 2023 – Persatuan Insurans Am Malaysia (“PIAM”) is in support of the Ministry of Investment, Trade and Industry’s (“MITI”) proactive initiative in development of Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“JSM MS”). Anticipated to be officially launched by Jabatan Standard Malaysia (“JSM”) in early 2024, the JSM MS [...]

December 6th, 2023|News Release|

GENERAL INSURANCE INDUSTRY PREMIUM GREW BY 7.3% AND UNDERWRITING PROFIT REDUCED BY 38% YOY IN 1H2023 AS COMPARED TO 1H2022. DAILY INSURANCE CLAIMS PAYOUT RISES TO RM23M

Kuala Lumpur, 22 November 2023 – The general insurance industry has recorded an increase in gross direct premiums of 7.3% to RM10.5 billion for first half of 2023 compared to the corresponding period in the previous year. Despite the positive trajectory, the underwriting profit had experienced a contraction of 37.8%, settling at RM0.5 billion. This [...]

November 22nd, 2023|News Release|

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