Malaysia: Takaful association issues flood advisory
Source: Middle East Insurance Review | Feb 2017
The Malaysian Takaful Association (MTA) and the General Insurance Association of Malaysia (PIAM) have assured flood victims who have a flood cover as part of their general insurance policy/takaful certificate that its members are ready to pay out claims against losses caused by the current flood situation, said media reports citing a joint statement from both bodies.
Both associations said policyholders/certificate holders, including businesses and individuals, should check their fire and motor policies/takaful certificates to determine if they are covered for loss or damage resulting from the floods.
“They are advised to contact their insurers/takaful operators to report losses so their insurers/takaful operators can assess the loss and process claims quickly as circumstances of each case/ claim may differ,” the statement said.
MTA and PIAM also advised businesses and individuals to take up affordable insurance/takaful products offered by insurance/takaful companies to protect themselves against such losses.