Kuala Lumpur, 14 March 2014: The General Insurance Association of Malaysia (PIAM), representing all the general insurers and reinsurers in Malaysia, is shocked and deeply saddened by the MH370 incident. Our hearts go out to the families and friends of the passengers and crew of MH370. The Association is keeping track of the [...]
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 [...]
1) Will ‘modified’ vehicle be covered by motor insurance? All insurance contracts require both parties to observe utmost good faith and not deliberately mislead the other party or to hide material facts. In this instance, a modified car may increase the risk exposures resulting in higher premium payable or at the extreme, render [...]
Kuala Lumpur, 6 February 2014 – The General Insurance Association of Malaysia (PIAM) wishes to clarify that the gradual premium adjustment under the new motor cover framework had been introduced in 2012. The new motor cover framework has a two prong strategy, i.e. to enhance efficiency in the provision of motor cover by [...]
Kuala Lumpur, 26 January 2014 – The net claims paid out for bodily injury and property damage due to road accidents in the first nine months of 2013 has risen to RM 4.10 billion, compared to RM 3.68 billion in the same period in 2012. This figure was revealed by the General Insurance [...]
