DRIVING DOWN ROAD ACCIDENTS THIS RAYA
Kuala Lumpur, 21 March 2025 – With an estimated 2.5million vehicles expected to be on major highways this Raya, road safety is paramount. Despite a 1.4% decrease in reported accidents in 2024 compared to 2023, vigilance remains crucial. The Malaysian government, along with regulatory bodies and road safety advocates, including the general insurance industry are committed to continuing efforts to reduce road accidents. Efforts like the ban of goods-carrying vehicles [...]
INSURANCE AND TAKAFUL INDUSTRY PRESENTS RECOMMENDATIONS TO ADDRESS RISING HEALTHCARE COSTS AND INSURANCE PREMIUMS/ TAKAFUL CONTRIBUTIONS
KUALA LUMPUR, 7 March 2025 – The Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM) held a productive session with the Public Accounts Committee (PAC) in a bid to address the escalating costs of healthcare and insurance premiums. The engagement session held in Parliament on 26 February 2025, provided an avenue for constructive discussions on sustainable healthcare financing and cost-containment strategies. [...]
PERSATUAN INSURANCE AM MALAYSIA STATEMENT ON “TOTAL LOSS” VEHICLES SPOTTED ON THE ROAD
Kuala Lumpur, 27 January 2025 – Persatuan Insurans Am Malaysia (PIAM) welcomes the recent statement by Road Transport Department (RTD) Director-General Datuk Aedy Fadly Ramli, regarding the need for stricter compliance with auction standards for vehicles categorised as Beyond Economic Repair (BER) and Approved Automotive Treatment Facility (AATF) on 19 January 2025. General insurance and takaful companies are working closely with key stakeholders like Bank Negara Malaysia (BNM), Ministry of [...]
PIAM URGES FIRE, HOME & PROPERTY INSURANCE COVERAGE CHECK AHEAD OF CHINESE NEW YEAR CELEBRATIONS
Kuala Lumpur, 17 January 2025 – As Chinese New Year approaches, the skies are soon to be painted with vibrant bursts of lights. However, these dazzling displays pose real risks, including accidental fires and property or vehicle damage, which could lead to significant financial losses. Therefore, it’s important to ensure adequate insurance protection against potential fire hazards. While the festive season brings joy and excitement, it also increases risks. The [...]
Insurers and Takaful Operators-Repairers Code of Conduct
Bank Negara Malaysia (BNM) has issued the Insurers and Takaful Operators-Repairers Code of Conduct (the Code) today, effective from 2 January 2025. The Code is a cross-sector industry-driven initiative consisting of the general insurers and takaful operators (ITOs), repairers and industry associations such as Persatuan Insurans Am Malaysia (PIAM), Malaysian Takaful Association (MTA) and the Federation of Automobile Workshop Owners' Association of Malaysia (FAWOAM). The Code is aimed at fostering public [...]
INDUSTRI INSURANS DAN TAKAFUL MEMPERKENALKAN LANGKAH-LANGKAH INTERIM UNTUK PEMEGANG POLISI/PESERTA TAKAFUL YANG TERKESAN OLEH PENETAPAN SEMULA PREMIUM/SUMBANGAN
Langkah-langkah termasuk menaikkan premium/sumbangan secara berperingkat, peruntukan khas untuk pemegang polisi/peserta takaful berusia 60 tahun ke atas yang dilindungi oleh pelan yang minima, memberi pilihan untuk mengaktifkan semula polisi/sijil yang telah diserahkan atau luput, perkhidmatan sokongan khusus dan memberi pilihan untuk produk alternatif kepada mereka yang tidak ingin terus dilindungi oleh pelan yang telah melalui penetapan semula harga premium/sumbangan. KUALA LUMPUR, 20 Disember 2024 – Persatuan Insurans Hayat Malaysia (LIAM), Persatuan [...]
INSURANCE AND TAKAFUL INDUSTRY INTRODUCES INTERIM MEASURES FOR POLICYHOLDERS/TAKAFUL PARTICIPANTS IMPACTED BY PREMIUM/CONTRIBUTION REPRICING
Measures include spreading out premium/contribution increases affected by repricing, special provisions for 60 years old and above policyholders/participants who are covered under minimum plan, options to reinstate surrendered/lapsed policies and dedicated support services, and offering of alternative products for those who do not wish to continue due to repricing KUALA LUMPUR 20 December 2024 – The Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM) have [...]
PIAM MENJAMIN BANTUAN DAN PEMPROSESAN TUNTUTAN LANCAR KEPADA MANGSA BANJIR
Kuala Lumpur, 2 Disember 2024 – Persatuan Insurans Am Malaysia (PIAM) dengan ikhlasnya merakamkan rasa simpati kepada mereka yang terjejas akibat banjir besar baru-baru ini, terutamanya di negeri-negeri bahagian utara Semenanjung Malaysia. Dengan lebih 139,000 individu dipindahkan, kesan akibat banjir tahun ini adalah lebih teruk daripada yang berlaku pada 20141. PIAM dan syarikat ahli kami komited untuk memainkan peranan penting dalam usaha menyokong mangsa banjir dengan memberikan bantuan secepat mungkin [...]
PIAM ASSURES FLOOD VICTIMS ON SWIFT CLAIMS PROCESSING AND SUPPORT
Kuala Lumpur, 2 December 2024 – Persatuan Insurans Am Malaysia (PIAM) extends its heartfelt sympathies to those affected by the recent devastating floods, particularly those in the northern states of Malaysia. With over 139,000 individuals displaced, this year's floods have surpassed the impact of the 2014 floods1. PIAM and its member companies are committed to playing a crucial role in supporting flood victims by providing timely assistance and expediting the claims [...]
INSURANCE AND TAKAFUL INDUSTRY ADDRESS CONCERNS ON MEDICAL PREMIUM INCREASES AMIDST RISING HEALTHCARE COSTS
KUALA LUMPUR 28 November 2024 – The Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM) acknowledge the concerns raised by policyholders regarding the recent increase in medical premiums. We understand that these adjustments may cause concern, and we are committed to providing transparency and support during this time. Rising Claims and Medical Inflation Over the period of 2021 to 2023, the [...]
