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Kuala Lumpur, Friday, 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. This contribution is part of the industry’s response to urgently address the need to conduct more COVID-19 Testing for Malaysians who are directly exposed to the virus.
LIAM is leading the initiative with a RM5 million contribution while PIAM and MTA have pledged RM2 million and RM1 million respectively.
The setting up of the COVID-19 Testing Fund is timely and compliments the comprehensive relief measures and financial assistance to the rakyat announced by Bank Negara Malaysia on Friday, 27 Mar 2020. This is part of the industry’s effort to help affected rakyat cope with the immediate health effects of the virus and the subsequent economic consequences as well as to enable more Malaysians to undergo the test to help contain the virus from spreading.
The industry is currently working with the Ministry of Health on the RM8 million COVID-19 Testing Fund and hopes to finalise the details within the next few days.
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