All life insurance and takaful operators in Malaysia will be providing hospitalisation and treatment coverage to policyholders for cases of the Wuhan coronavirus, said the Life Insurance Association of Malaysia (LIAM) in an official statement today.
LIAM and the Malaysian Takaful Association (MTA) said that coverage will be provided despite the exclusion clause on communicable diseases requiring quarantine by law. This follows on as the World Health Organisation (WHO) has just declared the outbreak of the coronavirus as a global health emergency.
“Even though a majority of the medical policies/certificates carry an exclusion on communicable diseases requiring quarantine by law, the Malaysian life insurers and takaful operators are responding to an immediate need of the nation by waiving the exclusion on quarantine by law in light of the increasing number of people who have been affected,” said Mark O’Dell, CEO of LIAM.
“Policyholders/certificate holders are advised to check with their respective insurance companies/takaful operators for the benefits and terms and conditions of their health insurance policy/takaful certificate,” added O’Dell.
The 16 insurers who are member companies of LIAM are:
- AIA Bhd
- Allianz Life Insurance Malaysia Berhad
- AmMetLife Insurance Berhad
- AXA AFFIN Life Insurance Berhad
- Etiqa Life Insurance Berhad
- Gibraltar BSN Life Berhad
- Great Eastern Life Assurance (M) Berhad
- Hannover Rueck SE, Malaysian Branch (reinsurer)
- Hong Leong Assurance Berhad
- Manulife Insurance Berhad
- Malaysian Life Reinsurance Group Berhad (reinsurer)
- MCIS Insurance Berhad
- Prudential Assurance Malaysia Berhad
- Sun Life Malaysia Assurance Berhad
- Tokio Marine Life Insurance Malaysia Bhd
- Zurich Life Insurance Malaysia Berhad
Meanwhile, the member companies of the MTA are:
- AIA PUBLIC Takaful Bhd.
- AmMetlife Takaful Berhad
- Etiqa Family Takaful Berhad
- Etiqa General Takaful Berhad
- Great Eastern Takaful Berhad
- Hong Leong MSIG Takaful Berhad
- FWD Takaful Berhad
- Prudential BSN Takaful Berhad
- Sun Life Malaysia Takaful Berhad
- Syarikat Takaful Malaysia Keluarga Berhad
- Syarikat Takaful Malaysia Am Berhad
- Takaful Ikhlas Family Berhad
- Takaful Ikhlas General Berhad
- Zurich General Takaful Malaysia Berhad
- Zurich Takaful Malaysia Berhad
Over the past week, major insurance companies including Prudential, Great Eastern, Tokio Marine, Zurich, and Etiqa have posted statements confirming the extension of medical coverage for cases relating to the coronavirus. With today’s official statement from LIAM and MTA, all 16 member companies are affirming coverage related to the outbreak.
As advised by LIAM and the insurers themselves, always check directly with your insurance company if you wish to find out more about your insurance or takaful coverage.