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MOTOR INSURANCE COVERAGE DURING THE MOVEMENT CONTROL ORDER (MCO) PERIOD

With reference to the press release entitled “Exemption on Licensing Renewals of Private Motor Vehicles and Competent Driving Licenses (Excluding Vocational Licenses) From 1 Feb To 31 Mar 2021” issued by Ministry of Transport Malaysia (MOT) on 29 January 2021 (Link: https://cddigitaldev.com/piam/wp-content/uploads/2015/06/PRESS-STATEMENT-YBM-MOT-EXEMPTION-ON-LICENSING-RENEWALS-OF-PRIVATE-MOTOR-VEHICLES-AND-CDL-29012021.pdf ), PIAM wishes to clarify that although there is an exemption [...]

January 30th, 2021|Uncategorized|

Insurance and Takaful Industry Commits to Private and Public Partnership to Manage the COVID-19 Pandemic

Kuala Lumpur, Sunday, 17 January 2021 – The insurance and takaful industry is fully supportive of the Government’s call on private and public partnership to manage the increasing cases of COVID-19 patients. Generally, pandemic-related risks are not covered under any insurance and takaful plans worldwide. The exclusion stems from the difficulty in pricing for [...]

January 17th, 2021|Uncategorized|

General Insurance Claims During Emergency Proclamation

Kuala Lumpur, 13 Jan 2021 – Persatuan Insurans Am Malaysia (PIAM), wishes to assure all general insurance policyholders that claims incurred during the Emergency Proclamation period will be paid according to their policy terms and conditions. All policyholders, both businesses and individuals are advised to obtain more information from their respective insurance companies. [...]

January 13th, 2021|Uncategorized|

PIAM Member Companies Expediting Flood Claims

Kuala Lumpur, 11 Jan 2021 – Persatuan Insurans Am Malaysia (PIAM), the General Insurance Association of Malaysia wishes to assure flood victims, who have purchased a flood cover as part of their general insurance policy that its members are ready to quicken the claims process and pay out claims against losses caused by the [...]

January 11th, 2021|Uncategorized|

PIAM Expresses Profound Disappointment At MyCC’s Decision

Kuala Lumpur, 30 September 2020 – PIAM and its members are profoundly disappointed by the Final Decision issued by MyCC on 14 September 2020 against PIAM and 22 general insurers. MyCC has found that PIAM and the insurers had infringed the Competition Act 2010 in relation to an arrangement between PIAM and the Federation [...]

September 30th, 2020|Uncategorized|

General Insurance Industry Declined 3.6% In The First Half Of 2020

Kuala Lumpur, 13 August 2020 – The General Insurance Industry registered its steepest half year drop in recent years as it bore the full brunt of the COVID-19 pandemic. Gross direct premiums declined 3.6% to RM 8.60 billion for the first six months of 2020 compared to the same period last year. Motor the [...]

August 13th, 2020|Uncategorized|

PIAM Appoints Board Of Directors For 2020-2022

Kuala Lumpur, 2 July 2020 – At its Annual General Meeting today Persatuan Insurans Am Malaysia (PIAM) appointed a 10-member Board of Directors for 2020-2022. In line with the strategic transformation of PIAM this newly established Board will take over the role of the previous Management Committee. It will position the Association to operate [...]

July 2nd, 2020|Uncategorized|

Insurance and Takaful industry’s RM8 Million COVID-19 Test Fund broadens eligibility criteria to include Emergency and Semi Emergency cases

Kuala Lumpur, Wednesday, 13 May 2020 – In addressing the needs of the policyholders/certificate holders and to protect the healthcare front liners from the risk of COVID-19 infection, the Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have broadened the eligibility criteria of the RM8 [...]

May 13th, 2020|Uncategorized|
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