What are Insurers / Insurance Companies?

• organisation who offer and provide insurance protection exchange for a premium payment.
• customers are the insured/policy holders.
• regulated and controlled by BNM.
• Subject to control imposed by the Insurance Act 1996 as well other Acts like the Company Act 1965.
• must be licensed and registered company.
• minimum Paid Up Capital - RM40M for underwriting direct insurance business.
• managed by a CEO/GM.

<< Previous Question | FAQ Main | Next Question >>