107, 2021

Insurance and Takaful industry COVID-19 Test Fund calling policy/certificate holders to submit their claims for tests done on or before 31 May 2021

July 1st, 2021|

Kuala Lumpur, Thursday, 1 July 2021 – The Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM) are urging policy/certificate holders who have done their COVID-19 Test on or before 31 May 2021 to submit their application via the MyCTF website at www.myctf.my by 15 July 2021. The RM10 Million COVID-19 Test Fund (CTF) was officially closed on 21 May 2021 [...]

2406, 2021

PRIORITIZING CUSTOMER SATISFACTION

June 24th, 2021|

Kuala Lumpur, 25 June 2021 – All member companies of Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Association (MTA) would like to assure consumers that the industry places great importance on overall customer experience which would inevitably include efficient complaints handling. Consumer complaints are “opportunities” for the industry to improve products and services Complaints received, particularly on Motor insurance/takaful being the largest industry sector, are vital for [...]

2206, 2021

Life Insurers and Family Takaful Operators Extend Deferment of Premium/Contribution Payment to 31 December 2021; General Insurers continue to offer additional relief measures to policyholders affected by the COVID-19 pandemic to year end.

June 22nd, 2021|

FOR IMMEDIATE RELEASE Life Insurers and Family Takaful Operators Extend Deferment of Premium/Contribution Payment to 31 December 2021; General Insurers continue to offer additional relief measures to policyholders affected by the COVID-19 pandemic to year end. Kuala Lumpur, 22 June 2021 - The Life Insurance Association of Malaysia (LIAM) and Malaysian Takaful Association (MTA) are pleased to inform that all life insurers and family takaful operators have extended [...]

1105, 2021

COVID-19 Test Fund reaches RM10 million in contribution from the insurance and takaful industry

May 11th, 2021|

Kuala Lumpur, 11 May 2021 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Association (MTA) are pleased to announce that the industry has topped up another RM2 Million to the existing RM8 Million COVID-19 Test Fund (CTF) which was launched since March last year. To date, the RM8 Million CTF has benefitted over 42,000 policy/certificate holders, exceeding the early estimates [...]

2303, 2021

PHASED LIBERALISATION, COVID-19 AND THE MOTOR INSURANCE INDUSTRY

March 23rd, 2021|

Kuala Lumpur, 23 March 2021 – As the global pandemic enters its second year with uncertainty persisting on the extent to which it will continue to affect daily life, it is opportune for Persatuan Insurans Am Malaysia (PIAM) to provide a commentary and an update of its impacts on the motor insurance industry in Malaysia. In particular, we wish to address prevailing perceptions on the status of ‘phased liberalisation’ [...]

3001, 2021

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

January 30th, 2021|

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 on licensing renewals, consumers are advised to ensure that they continue to have a valid [...]

1701, 2021

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

January 17th, 2021|

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 coverage relating to an event like a pandemic that may occur once in a lifetime, [...]

1301, 2021

General Insurance Claims During Emergency Proclamation

January 13th, 2021|

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.

1101, 2021

PIAM Member Companies Expediting Flood Claims

January 11th, 2021|

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 current flood situation. PIAM member companies will process all flood claims so long as flood [...]

2312, 2020

Insurance and Takaful industry’s RM8 Million COVID-19 Test Fund broadens its criteria to include asymptomatic patients and hospital admission

December 23rd, 2020|

The industry urges more asymptomatic policy/certificate holders to take the COVID-19 tests to curb the spread of the virus in the country   Kuala Lumpur, Wednesday, 23 December 2020 – In view of the spike in the COVID- 19 cases in the country, the insurance and takaful industry has taken a proactive step by broadening the eligibility criteria of the COVID-19 Test Fund (CTF) to include all asymptomatic [...]

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