PIAM NAMES NEW CHIEF EXECUTIVE OFFICER
Kuala Lumpur, 24 October 2014 – The General Insurance Association of Malaysia (PIAM) has recently appointed Mark Lim Kian Wei as the Association’s new Chief Executive Officer. “PIAM’s top priority remains improving and advancing the general insurance industry to contribute further to the nation’s sustainable economy. Mark will be responsible for driving and executing the change management strategies to transform the Association to meet the challenges ahead to [...]
LETTER TO EDITOR IN RESPONSE TO THE ARTICLE HEADLINED “MOTOR INSURANCE INDEMNITY CONCERN” PUBLISHED IN THE STAR ON 30 SEP 2014
Letter to the Editor The Editor The Star Menara Star No 15 Jalan 16/11 46350 Petaling Jaya Selangor Dear Editor, We refer to the article headlined “Motor insurance indemnity concern” published in the VIEWS section of The Star on 30 September 2014. The Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Motor Insurance Pool (MMIP) would like to clarify certain issues highlighted in the article. Firstly, an insurance [...]
PIAM CELEBRATES GENERAL INSURANCE DAY 2014 WITH TREE PLANTING
180 Staff of the General Insurance Industry Gather To Plant Saplings At Raja Musa Peat Forest Reserve Kuala Lumpur, 21 October 2014 – The General Insurance Association of Malaysia (PIAM) celebrated this year’s General Insurance Day with a tree planting event at the Raja Musa Peat Swamp Forest Reserve near Batang Berjuntai, Selangor, with the aim to help revive the wetland ecosystem. Over 180 staff and eco-enthusiasts from [...]
PIAM’S WISH LIST FOR BUDGET 2015
Kuala Lumpur, 26 September 2014 – The General Insurance Association of Malaysia (PIAM) expects the Budget 2015 to continue to focus on measures to further liberalize and strengthen the nation’s insurance and takaful sector. In tandem with the favourable economic performance as indicated by the positive GDP growth of 6.3 per cent during first half of 2014, PIAM believes that the general insurance industry is poised for further [...]
GENERAL INSURANCE INDUSTRY EXPECTS CONTINUED GROWTH IN 2H 2014
Non-Motor Business Lines Performing Well with Strong Growth Potential Kuala Lumpur, 23 September 2014 – The Malaysian General Insurance industry has continued to register steady growth in the first six months of 2014 with its gross written premium growing by 6.4 per cent to RM 8.9 billion compared to RM 8.3 billion registered in the same period in 2013. The General Insurance Association of Malaysia (PIAM) foresees non-motor [...]
FAQ ON PROPERTY/LIFE INSURANCE – A CONSUMER EDUCATION GUIDE FROM PIAM
1.Background In Malaysia, the sum Insured for a basic fire policy is calculated based on the cost of rebuilding/reconstructing the building in the event of a total loss to its current state (excluding the cost of land). This is however subject to the terms and conditions of the Malaysian Fire Tariff. 2.Property under Financing If the property is under finance, the need to insure the property is one [...]
MOTOR INSURANCE CLAIMS CLIMB TO RM1.38 BILLION IN FIRST QUARTER OF 2014
Kuala Lumpur, 2 August 2014 – The General Insurance Association of Malaysia (PIAM) revealed that net claims incurred by general insurers and takaful operators for bodily injury and property damages due to road accidents has increased to RM1.384 billion in the first quarter of 2014, representing a 5 per cent increase from RM1.319 billion in the same period in 2013. Taking the lead from the Malaysian Government and [...]
PIAM STATEMENT ON MH17-GENERAL INSURANCE COVERAGE AND CLAIMS
Kuala Lumpur, 30 July 2014 – In a statement issued today, the General Insurance Association of Malaysia (PIAM) clarified the insurance coverage and claims options available to the next-of-kin of victims of the MH 17 tragedy. PIAM revealed that there have been many queries on the coverage that general insurance policies provide against the speculated causes of the MH17 incident, namely Terrorism and Acts of War [generally refers [...]
PIAM FAQ on MH17
30 July 2014 The General Insurance Association of Malaysia (PIAM), representing all general insurers and reinsurers in Malaysia, is deeply saddened by the loss of lives as a result of the MH17 tragedy which has left the nation in shock. We offer our heartfelt condolences to the families and friends of all those on board the aircraft. Please note that investigations on the cause of the tragedy have [...]
PIAM STATEMENT ON MH17 INCIDENT
MH17 INCIDENT – STATEMENT BY PERSATUAN INSURANS AM MALAYSIA (PIAM) Kuala Lumpur, 18 July 2014 – The General Insurance Association of Malaysia (PIAM), representing all general insurers and reinsurers in Malaysia, is deeply saddened by the loss of lives as a result of the MH17 tragedy which has left the nation in shock. We offer our heartfelt condolences to the families and friends of all those on board [...]
