Latest Insurance News in Malaysia

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

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 Learn more

PIAM EXPLAINS THE BETTERMENT FACTOR

With reference to the recent spate of letters on the “Betterment Factor” in motor insurance it is timely for the General Insurance Association of Malaysia (PIAM) to provide more insights to the public. The basic premise of a motor insurance Learn more

GENERAL INSURANCE INDUSTRY DIPPED 1.4% IN THE FIRST HALF OF 2019

Kuala Lumpur, 27 Aug 2019 – The General Insurance Industry recorded a drop of 1.4% with gross direct premiums of RM 8.92 billion for the first six months of 2019 compared to the same period last year. Motor insurance the Learn more