PRIORITIZING CUSTOMER SATISFACTION
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 [...]
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.
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 [...]
COVID-19 Test Fund reaches RM10 million in contribution from the insurance and takaful industry
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 [...]
PHASED LIBERALISATION, COVID-19 AND THE MOTOR INSURANCE INDUSTRY
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’ [...]
MOTOR INSURANCE COVERAGE DURING THE MOVEMENT CONTROL ORDER (MCO) PERIOD
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 insurance [...]
Insurance and Takaful Industry Commits to Private and Public Partnership to Manage the COVID-19 Pandemic
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, [...]
General Insurance Claims During Emergency Proclamation
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.
PIAM Member Companies Expediting Flood Claims
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 [...]
Insurance and Takaful industry’s RM8 Million COVID-19 Test Fund broadens its criteria to include asymptomatic patients and hospital admission
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 [...]
Announcement
Kuala Lumpur, 15 October 2020 – Persatuan Insurans Am Malaysia (PIAM) has announced the appointment of Julie Lean Gim Chong as the Chief Executive Officer Designate of the Association with effect from 15 October 2020. There will be a phased handover transition until she takes over the duties of the current CEO, Mark Lim Kian Wei on 15 November 2020. Mark will relinquish his post as CEO with effect [...]
