Kuala Lumpur, 15 November 2023 - The Malaysian Takaful Association (MTA), Life Insurance Association of Malaysia (LIAM), and Persatuan Insurans Am Malaysia (PIAM), in collaboration with Bank Negara Malaysia (BNM), have released the findings of the Customer Satisfaction Survey 2022 (CSS 2022). Overall, the survey has shown encouraging trends in the industry, with a notable [...]
Kuala Lumpur, 18 August 2023 – Success continues for the General Insurance Internship for Talent (“GIIFT”) program, a program that nurtures young talents and invests in the future of the general insurance industry by shaping the journey of aspiring young professionals. Through this initiative, PIAM has successfully placed a total of 466 interns from various [...]
Kuala Lumpur, 6 July 2023 – All 23 member companies under Persatuan Insurans Am Malaysia (PIAM) and 4 general takaful member companies of Malaysian Takaful Association (MTA) are committed to supporting an orderly and gradual transition to market-based pricing as well as higher service quality as part of the liberalisation of motor and fire tariffs [...]
Kuala Lumpur, 23 March 2023 – The digitalisation of road tax would bring forth positive impact not only to policyholders but also the environment. The initiative would result in more efficient enforcement by competent agencies including the Royal Malaysian Police, Road Transport Department and more. Transport Minister, Anthony Loke recently announced that it is [...]
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 [...]
