22nd December 2021 - 2 min read
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.
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