FIRE INSURANCE FOR STATA-TITLED PROPERTIES
FREQUENTLY ASKED QUESTIONS (FAQs) [Q1] I have been informed that the fire insurance taken by the Management Corporation is compulsory. At the same time, the bank where I took a housing loan for the unit of condominium I have purchased also requested me to pay for the fire insurance policy which has been arranged by the bank. Do I need two insurance policies? [A1] Under the Strata Titles [...]
GENERAL INSURANCE INDUSTRY RECORDS 5.7% GROWTH IN GROSS PREMIUMS FOR 1H 2013
GENERAL INSURANCE INDUSTRY RECORDS 5.7% GROWTH IN GROSS PREMIUMS FOR 1H 2013 Motor Insurance Remains The Largest Contributor Of Gross Premiums Kuala Lumpur, October 29, 2013 – The general insurance industry received a total of RM 8.334 billion in gross premiums for the period January to June 2013 compared to RM7.881 billion over the same period in 2012. This represents a 5.7 per cent growth from the same period last [...]
CONSUMERS URGED TO BE CAUTIOUS WHEN SELECTING MANAGED CARE FIRMS
Kuala Lumpur, September 18 - The insurance industry advised consumers to be cautious when considering joining any medical card schemes. As a precaution, consumers are advised to thoroughly understand, verify and satisfy themselves on the benefits offered by any particular card scheme. Consumers should be clearly informed as to the identity of the insurance company providing the insurance cover , the benefits offered as well as the terms, conditions [...]
ROAD ACCIDENT ASSIST HOTLINE LAUNCHED
Public Involved In Road Accidents Can Now Call 1-300-22-11-88 For Assistance On Claim Inquiries And Towing Of Their Accident Cars Kuala Lumpur, 18 September 2013 - Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) are pleased to announce the establishment of a nationwide call centre i.e. the Accident Assist Call Centre (Accident Assist) which is aimed at providing immediate assistance to the public involved in [...]
INSURANCE INDUSTRY RM100,000 DONATION OFFERS NEW HOPE FOR CHARITIES
Insurance and Takaful Day Celebrations Benefits Four Worthy Causes Insurance and Takaful Day Celebrations Benefits Four Worthy Causes Kuala Lumpur, September 10, 2013 – The insurance and takaful fraternity of Malaysia, through the 26th East Asian Insurance Congress (EAIC) organising committee, joined forces to mark the 2013 Insurance and Takaful Day today. The organising committee comprising The General Insurance Association of Malaysia (PIAM), Life Insurance Association of Malaysia [...]
PIAM WORKS WITH CARTOONIST REGGIE LEE ON ROAD SAFETY CAMPAIGN FOR CHILDREN – PIAM Commemorates 5th Insurance Day with Road Safety Campaign
Kuala Lumpur, July 27 - The General Insurance Association of Malaysia (PIAM) will be working with popular cartoonist Reggie Lee on a two-month road safety campaign targeted at primary school children. This campaign is organized to commemorate Insurance Day which falls on July 27. The emphasis of the two-month campaign will be on teaching primary school children to be ‘good citizens on the road’ through a series of [...]
GENERAL INSURANCE INDUSTRY REGISTERS 8.2% GROWTH IN GROSS PREMIUMS FOR 2012
PIAM Urges Members To Develop New Products For Growing Economy Kuala Lumpur, May 3, 2013 – The general insurance industry registered a growth of 8.2% in gross premiums to reach RM15.180 billion in 2012, compared to an increase of 7.85% (RM14.029 billion) in 2011. Net premiums grew at a rate of 8.3% to reach RM 10.528 billion. The figures were reported during the 35th Annual General Meeting (AGM) [...]
PIAM LAUNCHES INSURANCE HISTORY BOOK
PIAM Urges Members To Develop New Products For Growing Economy Kuala Lumpur, 22 April 2013 -The general insurance industry registered a growth of 8.2% in gross premiums to reach RM15.180 billion in 2012, compared to an increase of 7.85% (RM14.029 billion) in 2011. Net premiums grew at a rate of 8.3% to reach RM 10.528 billion. The figures were reported during the 35th Annual General Meeting (AGM) of [...]
GENERAL INSURANCE INDUSTRY FACES CHALLENGING TIMES
Kuala Lumpur, January 12 - General insurers in Malaysia expect a difficult 2009 as the global economic slowdown takes its toll on insurance premium growth, says Persatuan Insurans Am Malaysia (PIAM). According to PIAM, general insurance companies are bracing for a rough 2009 as average motor premium continues to fall while insurers suffer from higher-than-expected claims ratio. Motor insurance comprises 44.3 per cent of overall general insurance business [...]
PIAM: TERRORISM EXCLUSION CLAUSE TO APPLY FOR ALL GENERAL INSURANCES POLICIES
Kuala Lumpur, 10 January 2002 - Many of the world's leading reinsurance companies have given notice that they plan to quit providing coverage to direct insurance companies for losses from future terrorist attacks with effect from January 1, 2002. This measure by the reinsurers to exclude terrorism cover from their reinsurance treaties with direct insurers means that the direct insurance companies will also have to exclude terrorism cover from [...]
