PIAM ANNOUNCES 2017/2018 MANAGEMENT COMMITTEE MEMBERS
Kuala Lumpur, 2 May 2017 – Persatuan Insurans Am Malaysia (PIAM) has reelected Mr. Antony Lee, CEO of AIG Malaysia Insurance Bhd as its Chairman at the Association’s 39th Annual General Meeting held on 28 April 2017. Mr. Antony Lee said, “The Association has been proactively engaging key stakeholders in the past few years, in order to propel the general insurance industry forward. The Management Committee anticipates exciting [...]
PIAM’s Statement on the Proposed Decision by MyCC
Kuala Lumpur, 1 March 2017 – PIAM and its members are disappointed with the proposed decision issued by MyCC on 22 Feb 17 against PIAM and all 22 general insurance companies, which found that PIAM and the insurance companies had infringed the Competition Act 2010 in relation to the agreement reached between PIAM and the Federation of Automobile Workshop Owners’ Association of Malaysia (FAWOAM) on the hourly rates [...]
INSURANCE AND TAKAFUL INDUSTRY LAUNCHES THE CODE OF PRACTICE PURSUANT TO PERSONAL DATA PROTECTION ACT
Kuala Lumpur, 24 February 2017 – The Life Insurance Association of Malaysia, Persatuan Insurans Am Malaysia and the Malaysian Takaful Association together with the Personal Data Protection Department of Malaysia (PDP Department) today launched the Code of Practice on Personal Data Protection for the insurance and takaful industry (the Code) in a signing ceremony held at Lanai Kijang, Bank Negara Malaysia, Kuala Lumpur. The PDP Department was represented [...]
GENERAL INSURANCE INDUSTRY GROWTH TAPERS TO 1.1% IN 2016
Kuala Lumpur, 23 Feb 2017 – Growth in the general insurance industry tapered to 1.1% in 2016, with gross written premium income reaching RM17.67 billion. This was half the 2.2% growth rate achieved in 2015. Motor insurance grew marginally by 0.8% maintaining its dominant share of the overall market at 46.2%. Motor premiums stood at RM8.17 billion in 2016 compared with RM8.09 billion in 2015. Fire insurance remains [...]
PIAM & MTA FLOOD ADVISORY
Kuala Lumpur, 6 Jan 2017 – Persatuan Insurans Am Malaysia (PIAM), the General Insurance Association of Malaysia and Malaysian Takaful Association (MTA) wish to assure flood victims, who have a flood cover as part of their general insurance policy/takaful certificate that its members are ready to pay out claims against losses caused by the current flood situation. While standard motor and fire policies/takaful certificates exclude coverage against losses [...]
PIAM COMMEMORATES GENERAL INSURANCE DAY WITH A DRIVE SAFE CAMPAIGN
Kuala Lumpur, 22 October 2016 – Persatuan Insurans Am Malaysia (PIAM) commemorated the General Insurance Day 2016 with the launch of a Drive Safe Campaign and a host of activities at Berjaya Times Square Kuala Lumpur on 22 October 2016. The focus for GID 2016 was on Road Safety, as the number of road accidents in Malaysia has been steadily increasing over the past few years resulting in [...]
EVENT: General Insurance Day 2016 – Every Road User Has A Family Drive Safe
Every Road User Has A Family Drive Safe #DriveSafe4Family 22 October 2016, Saturday 10 AM – 10 PM Berjaya Times Square, Kuala Lumpur Persatuan Insurans Am Malaysia (PIAM) will be commemorating the General Insurance Day 2016 with a Drive Safe Campaign on Saturday, 22 Oct 2016 from 10 AM to 10 PM at LG West Concourse, Berjaya Times Square Kuala Lumpur. The aim of this campaign is [...]
GENERAL INSURANCE INDUSTRY ACHIEVES MODERATE 3% GROWTH IN FIRST HALF 2016
Kuala Lumpur, 24 Aug 2016 – The general insurance industry recorded a moderate growth rate of 3% for the first six months of 2016, amidst earlier sentiments that it will be a challenging year for its members. Industry gross written premiums increased to RM9.34 billion compared to RM9.07 billion for the same period last year. Motor insurance grew marginally by 0.7% and maintained its major share of the [...]
ABOUT GENERAL INSURANCE AGENTS CONVENTION (GIAC) 2016
ABOUT GENERAL INSURANCE AGENTS CONVENTION (GIAC) 2016 PIAM’s inaugural General Insurance Agents Convention (GIAC) 2016 is an important event for the industry and brings together top performing agents representing all member companies of PIAM. Themed “Distribution in a Liberalised Environment”, the GIAC was held on 4 Aug 2016 at Connexion@Nexus, Bangsar South City. It was timely given the recent announcement on the Phased Liberalisation Roadmap by Bank Negara [...]
NEWS: Phased Liberalisation Of The General Insurance Industry In Malaysia
Visit our YouTube Channel for videos on Phased Liberalisation Read Bahasa Malaysia version here TOP 10 THINGS THAT YOU SHOULD KNOW ABOUT THE IMPLEMENTATION OF PHASED LIBERALISATION OF MOTOR AND FIRE TARIFFS Kuala Lumpur, 15 July 2016 (updated 31 Mar 2017) Motor and Fire insurance are mandatory insurance protection and accounts for close to two-thirds, i.e. 66% of the total general insurance market in 2015. [...]
