PIAM And MTA Urge Policyholders To Review Policy Coverage Against Flood
Author Avatar
(Image: The Malaysian Reserve/Muhd Amin Naharul)

The General Insurance Association of Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have advised all policyholders to review their insurance coverage and ensure that their properties are insured against flood.

Both associations stated that the review is necessary because flood is an optional cover under the standard fire and motor policies certificates. As such, if a policyholder feels that they are in need of flood coverage so that their possessions are adequately protected, they should then contact their respective agents, insurers, or takaful operators for further advice and clarification. This is especially since natural disasters, such as floods, are occurring more frequently due to climate change.

“The scope of cover, terms and conditions including relief measures accorded by one insurer or takaful operator may differ with another, so they are advised to contact their insurers or takaful operators,” both associations noted in a joint statement.

PIAM and MTA also took the opportunity to reassure all policyholders and certificate holders who are affected by the recent floods that their insurers stand ready to assist. All PIAM and MTA members will work to expedite the claims process, and provide special considerations on a case-to-case basis.

To ensure a smooth process, affected individuals are advised to check with their insurer or takaful operator to see if their policies or certificates provide coverage for flood. If yes, they can then notify their agents with details of their losses, along with complete information, including relevant supporting documentation such as photographs.

“Depending on the severity of your loss, your insurer or takaful operator may appoint an independent loss adjuster to assist you in filing your claim,” both associations said.

(Sources: PIAM, The Edge Markets)

0 0 votes
Article Rating


Comments (0)

Notify of

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

3 Ways You Can Financially Prepare For Old Age

Jacie Tan -
2nd February 2021
Related Posts Image
Related Posts Image