2507, 2024

MOTORISTS ENCOURAGED TO #JOMLEVELUP THEIR MOTOR INSURANCE AND TAKAFUL KNOWLEDGE WITH MORE EDUCATIONAL RESOURCES

July 25th, 2024|

Kuala Lumpur, 25 July 2024 – Persatuan Insurans Am Malaysia (“PIAM”) and  Malaysian Takaful Association (“MTA”), together with their respective member companies, in collaboration with Bank Negara Malaysia (BNM), announce the launch of a comprehensive educational microsite, a brand film, and an exciting contest designed to empower motorists and promote safe driving practices under the  multi-year #JomLevelUp Consumer Education Programme (“CEP”). The new microsite, titled #JomLevelUp, serves as a one-stop [...]

1707, 2024

PIAM APPLAUDS APPROVAL OF NEW MOTOR VEHICLE REPAIR STANDARDS

July 17th, 2024|

Kuala Lumpur, 17 July 2024 – PIAM, the General Insurance Association of Malaysia, enthusiastically supports the Malaysian Standard – Motor Vehicle Aftermarket Smash Repair Requirements. This significant standard was approved by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry Malaysia (MITI), on 30 May 2024. This heralds a new era of excellence and professionalism within the motor vehicle accident repair industry and [...]

905, 2024

PIAM ANNOUNCES NEW BOARD OF DIRECTORS FOR 2024 – 2026

May 9th, 2024|

 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 brings over 30 years of experience in the insurance industry, including 17 years as CEO [...]

305, 2024

ENHANCED VEHICLE REPAIR STANDARDS ENSURES QUALITY CARS ON MALAYSIAN ROADS

May 3rd, 2024|

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 by promoting the adoption of best industry practices. The general insurance industry also looks forward [...]

104, 2024

GENERAL INSURANCE INDUSTRY PREMIUM GREW 7.8% YoY AND UNDERWRITING PROFIT REDUCED BY 26% YoY IN 2023. INSURANCE CLAIMS PAYOUT RISES TO RM21M DAILY

April 1st, 2024|

  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 for Motor and Fire lines of business. Specifically, the loss for Motor portfolio further deteriorated [...]

2902, 2024

CONSUMERS TO BENEFIT FROM ENHANCED VEHICLE REPAIR STANDARDS IN MALAYSIA

February 29th, 2024|

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 vehicle smash repair workshop services by promoting the adoption of best industry practices. It encompasses [...]

2902, 2024

JOINT STATEMENT BY BANK NEGARA MALAYSIA AND SECURITIES COMMISSION MALAYSIA FROM THE 12TH JOINT COMMITTEE ON CLIMATE CHANGE (JC3) MEETING

February 29th, 2024|

Kuala Lumpur, 29 February 2024 - The Joint Committee on Climate Change (JC3) held its 12th meeting on 23 February 2024 to review the progress of ongoing work and discuss priorities and action plans of JC3 for the year. In 2024, JC3 will continue to work with the Government, the financial industry and its partners on specific action plans to support a just and orderly transition of the economy. The members [...]

1402, 2024

PIAM AND MTA LAUNCH CONSUMER EDUCATION PROGRAMME TO ENHANCE MOTORIST INSURANCE/TAKAFUL EXPERIENCE

February 14th, 2024|

#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”) and  Malaysia Takaful Association (“MTA”), together with their respective member companies, in collaboration with Bank [...]

1901, 2024

PIAM BACKS NEW STANDARDS FOR MOTOR VEHICLE REPAIR INDUSTRY IN MALAYSIA

January 19th, 2024|

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 initiative results from collaborative effort of key stakeholders in the motor accident repair ecosystem including [...]

401, 2024

MALAYSIANS ENCOURAGED TO WEATHER THE STORM WITH FLOOD COVERAGE

January 4th, 2024|

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, causing substantial annual damage. The Special Report on Impact of Floods in Malaysia 2021 issued [...]

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