Latest Insurance News in Malaysia

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 Learn more

Insurance and Takaful industry pledges RM8 million in support of Ministry of Health’s efforts to conduct COVID-19 Testing for Malaysians

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 Learn more

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 Learn more

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 Learn more

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 Learn more

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 Learn more

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 Learn more

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 Learn more

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 Learn more

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 Learn more