General Insurance Claims During Emergency Period To Be Processed As Usual
Author Avatar
paim

(Image: Berita Harian Online)

Persatuan Insurans Am Malaysia (PIAM) has provided assurance that claims incurred during the Emergency Proclamation period will be paid as normal. This is in response to Malaysia being declared under a state of national emergency until 1 August to battle the ongoing Covid-19 pandemic.

“PIAM wishes to assure all general insurance policyholders that claims incurred during the Emergency Proclamation period will be paid according to their policy terms and conditions,” the general insurance association of Malaysia said in a statement.

PIAM advised all policyholders, including both businesses and individuals, to obtain more information from their respective insurance companies on the matter.

(Image: The Straits Times)

In a separate announcement, PIAM also stated that its members would be expediting insurance claims for flood victims who had purchased flood cover as part of their general insurance policy. “PIAM member companies will process all flood claims so long as flood is an insured peril, regardless of whether a state of emergency is declared or not,” the statement read.

PIAM member companies are committed to expediting the flood claims by reaching out to claimants and preparing to waive claim forms or supporting documents for shorter turnaround times. “Insurance companies are also prepared to offer special waivers for proof of reinstatement policies, allow application of average on policies that are underinsured, and grant waivers on excess applicable on personal line policies,” it said.

All the same, policyholders are advised to check with their insurance companies for more detailed clarification on relief measures or waivers that are in place. Moreover, coverage for flood-related loss or damage is usually purchased as an extension since it is typically excluded from standard motor and fire policies. Therefore, policyholders are advised to check their policies to determine whether or not they are covered for floods.

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of

0 Comments
Inline Feedbacks
View all comments
Top Insurance Articles
Post Image
Government and Private Hospitals in Malaysia: How Much Do They Really Cost?
The RinggitPlus Team
- 2nd January 2018
We keep hearing that government hospitals are cheaper than the private ones, but what’s the price difference really like? Keep reading to find out!
Post Image
How To Claim Income Tax Reliefs For Your Insurance Premiums
Alex Cheong Pui Yin
- 7th April 2022
There are quite a few types of tax reliefs that you can claim to reduce your chargeable income […]
Post Image
The First Cancer Rider Offering Treatment Allowance & Hospice Care In Malaysia By Takaful IKHLAS
Katrina Balan Quiroz
- 1st July 2021
Around the world, Malaysia included, cancer has remained as one of the leading causes of death. Last year, […]
Post Image
Cancer Treatment In Malaysia: How Much Does It Cost?
The RinggitPlus Team
- 2nd October 2018
Many know the devastating effects of cancer, but few talk about just how expensive cancer treatment costs can be.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image