COVID-19 – Pandemic Insurance and Takaful industry pledges RM8 million fund for COVID-19 testing in support of Ministry of Health’s efforts to conduct more COVID-19 Testing on Malaysians
Kuala Lumpur, Thursday, 27 March 2020 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) today pledged an RM8 million contribution to establish a special fund for COVID-19 testing for medical insurance policyholders and medical takaful certificate holders in support of the Ministry of Health’s efforts to conduct more COVID-19 testing on Malaysians. The philanthropic contribution is part [...]
PIAM CLARIFIES DEFERRED PREMIUM PAYMENT
Kuala Lumpur, 27 Mar 2020 – With reference to the infographic below which is trending viral on social media, PIAM would like to clarify that the deferment of premium payment is NOT APPLICABLE TO GENERAL INSURANCE POLICIES. It is applicable to life insurance policies and family Takaful certificates only. This has been clearly indicated in the Press Release entitled “Additional Measures to Further Support SMEs and Individuals Affected by the COVID-19 [...]
MOTOR INSURANCE COVERAGE DURING THE MOVEMENT CONTROL ORDER (MCO) PERIOD
Kuala Lumpur, 25 Mar 2020 – PIAM understands and fully empathizes with consumers who are concerned over their motor insurance coverage during the current Movement Control Order (MCO) period. Consumers are reminded that all motor insurance must be kept valid during the MCO period. Member companies of PIAM are working to ensure that all aspects of valid insurance protection to policyholders are not affected during this period. To [...]
COVID-19 Pandemic – An Update on Branch Operations during Movement Control Order
Kuala Lumpur, Monday, 23 March 2020 – Members of the Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have taken proactive steps to ensure that essential services continued to be available to customers during the Movement Control Order (MCO) period from 18 March to 31 March 2020. In support of the Government’s effort to curb the spread of COVID-19 [...]
FAQ – Insurance Coverage on Corona Virus Disease 2019 (COVID-19)
On 11 Mar 2020, the World Health Organisation (WHO) characterised and declared the COVID-19 outbreak as a pandemic. This is the first pandemic caused by a corona virus. In an attempt to control the outbreak, the Government of Malaysia has implemented a Movement Control Order (MCO) for a period of two weeks from 18 Mar to 31 Mar 2020. The general public is also advised to maintain good [...]
COVID-19 PANDEMIC – MOVEMENT CONTROL ORDER ON INSURANCE COMPANIES AND TAKAFUL OPERATORS
Kuala Lumpur, Wednesday, 18 March 2020 – Following the announcement made by the Prime Minister on 16 March 2020 on the Movement Control Order which will take effect from 18 March 2020 to 31 March 2020, the Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) are taking proactive steps in ensuring that essential services provided to customers will continue [...]
GENERAL INSURANCE DECLINED 0.8% IN 2019
Kuala Lumpur, 27 February 2020 – The General Insurance Industry registered a decline of 0.8% in 2019 with total gross direct premiums of RM 17.41 billion. Motor remained the largest class with a market share of 48.3% followed by Fire at 19.3%. Motor insurance recorded gross direct premiums of RM 8.42 billion with a drop of 0.4%. This is despite an increase in total new vehicle sales in [...]
A Joint-Press Statement by the Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Association (MTA)
Kuala Lumpur, 12 December 2019 - Reference is made to the announcement by the Health Minister, Yang Berhormat Datuk Seri Dr Dzulkefly Ahmad on the decision by the Cabinet to deregulate the consultation fees of doctors in private clinics and private hospitals on 6 December 2019. The insurance and takaful industry is of the opinion that the most important thing for insurers and consumers is price transparency so that consumers [...]
PIAM ASSURES MINIMUM DISRUPTION TO THE MOTORING PUBLIC
Kuala Lumpur, 2 December 2019 - Persatuan Insurans Am Malaysia (PIAM) is closely monitoring the action by members of the Penang Motor Vehicle Workshop Owners Association (PMVWOA) to cease all towing operations of accidents cases in Penang and close their workshops from 2 December 2019 to 9 December 2019 which will disrupt service levels to motorists. We would like to inform all motor policyholders that PIAM member companies have activated [...]
PIAM COMMEMORATES GENERAL INSURANCE DAY 2019 WITH A FLOOD SAFETY AND SURVIVAL PROGRAM
Kuala Lumpur, 14 October 2019 – Persatuan Insurans Am Malaysia (PIAM) kicked off its General Insurance Day 2019 with a Flood Safety and Survival Program on Saturday, 12 October 2019. The General Insurance Day is an annual event organized by PIAM to create public awareness on the importance of general insurance cover and protection for all consumers in Malaysia. It is also an opportunity for PIAM and its [...]
