PIAM’S FLOOD ADVISORY
Kuala Lumpur, 8 October 2020 – The General Insurance Association of Malaysia (PIAM) urges the public to be prepared to protect their assets from possible flood damage and other natural disasters, in preparation of the monsoon transition phase which commenced on 24 September 2020 and expected to last till end November 2020. According to the Malaysian Meteorological Department, the monsoon transition period will bring along thunderstorms, heavy rain [...]
PIAM Expresses Profound Disappointment At MyCC’s Decision
Kuala Lumpur, 30 September 2020 – PIAM and its members are profoundly disappointed by the Final Decision issued by MyCC on 14 September 2020 against PIAM and 22 general insurers. MyCC has found that PIAM and the insurers had infringed the Competition Act 2010 in relation to an arrangement between PIAM and the Federation of Automobile Workshop Owners’ Association of Malaysia (FAWOAM) on the minimum hourly labour rates and [...]
General Insurance Industry Declined 3.6% In The First Half Of 2020
Kuala Lumpur, 13 August 2020 – The General Insurance Industry registered its steepest half year drop in recent years as it bore the full brunt of the COVID-19 pandemic. Gross direct premiums declined 3.6% to RM 8.60 billion for the first six months of 2020 compared to the same period last year. Motor the dominant insurance class was down significantly by 7.4% at RM 3.87 billion largely attributable to [...]
PIAM Appoints Board Of Directors For 2020-2022
Kuala Lumpur, 2 July 2020 – At its Annual General Meeting today Persatuan Insurans Am Malaysia (PIAM) appointed a 10-member Board of Directors for 2020-2022. In line with the strategic transformation of PIAM this newly established Board will take over the role of the previous Management Committee. It will position the Association to operate more effectively in a liberalised market and take the general insurance industry to the next [...]
Insurance and Takaful industry’s RM8 Million COVID-19 Test Fund broadens eligibility criteria to include Emergency and Semi Emergency cases
Kuala Lumpur, Wednesday, 13 May 2020 – In addressing the needs of the policyholders/certificate holders and to protect the healthcare front liners from the risk of COVID-19 infection, the Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have broadened the eligibility criteria of the RM8 Million COVID-19 Test Fund (CTF) to include COVID-19 tests required for hospital admission for emergency [...]
Understanding Your General Insurance Coverage During The Movement Control Order (MCO)
Kuala Lumpur, 30 April 2020 – As we continue to ride through the unprecedented wave of the current global COVID-19 pandemic, the General Insurance Association of Malaysia (PIAM) is aware of many uncertainties that have arisen amongst the consumers. There is genuine concern if their insurance policy will provide them with the protection that they need. Property and business related insurance are high on the list for obvious reasons. PIAM [...]
The insurance and takaful industry is broadening the eligibility for reimbursement from the COVID-19 Test Fund (CTF) to benefit more consumers
Kuala Lumpur, Saturday, 11 April 2020 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have broadened the reimbursement eligibility to encourage more insurance policyholders/takaful certificate holders to undergo COVID-19 tests. Under the revised eligibility, all the policyholders/certificate holders can claim from the CTF if they: a. have acute respiratory infection (sudden onset of respiratory infection with at [...]
INSURANCE AND TAKAFUL INDUSTRY LAUNCHES THE COVID-19 TEST FUND (CTF) PORTAL AIMED AT TESTING OVER 26,600 PEOPLE
Kuala Lumpur, Wednesday, 8 April 2020 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have finalised the operational details of the COVID-19 Test Fund (CTF) to benefit medical insurance policyholders and takaful certificate holders nationwide. Earlier the insurance and takaful industry has pledged RM8 million to set up the fund which is in support of the Ministry [...]
GENERAL INSURANCE INDUSTRY TAKES VARIOUS MEASURES TO HELP POLICYHOLDERS
Kuala Lumpur, 7 April 2020 – The General Insurance Association of Malaysia (PIAM) would like to highlight the various measures undertaken by our member companies to support all policyholders and customers during the COVID-19 Pandemic. While some insurance companies are temporarily closing the operation of their branch offices and shortening their opening hours following the Movement Control Order (MCO) announced by the Prime Minister on 16 March 2020, [...]
INSURANCE AND TAKAFUL INDUSTRY ANNOUNCES DETAILS ON COVID-19 TEST FUND
Kuala Lumpur, Wednesday, 1 April 2020 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have finalised the details of the COVID-19 Test Fund (CTF) for the benefit of medical insurance policyholders and takaful certificate holders. The RM8 million CTF has been pledged by the insurance and takaful industry in support of the Ministry of Health’s efforts to [...]
