Emergency Contact
 
Emergency Contact Information, Motor Assistance Call Center, Medical Assistance Call Center, Travel Assistance Call Center, International Emergency Evacuation Medical Assistance Call Center.
 
紧急汽车援助中心, 医疗援助中心, 旅游援助中心, 国际紧急疏散医疗援助中心.
 
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Emergency Contact Information, 
Motor Assistance Call Center, 
Medical Assistance Call Center, 
Travel Assistance Call Center, 
International Emergency Evacuation 
Medical Assistance Call Center.
 
 
紧急汽车援助中心, 医疗援助中心, 
旅游援助中心, 国际紧急疏散医疗援助中心.

MOTOR ASSISTANCE SERVICES
HELPLINE INFORMATION
FROM MALAYSIA INSURANCE COMPANIES

  
Motor Assistance Services applicable
for private car / private use only.
(Helpline Daily 24 hours)
 
AmGeneral Auto Assist Call Center    
Toll Free : 1 800 88 2647
AmGeneral Panel Workshops
               
AIG Road Ranger Assistance Call Centre
Toll Free :1 300 88 3933
AIG Panel Windscreen Workshops
             
Allianz Road Warrior Assistance Call Center
Toll Free : 1 800 22 5542 
Allianz Panel Workshops
 
AXA Motor Assistance Call Center
Toll Free : 1 800 88 1033
 
Berjaya Sompo Motor Assistance Call Center
Toll Free : 1 800 18 8033 
Berjaya Sompo Panel Workshops
 
Chubb Motor Assistance Call Center
Toll Free : 1 800 22 5542       
Chubb Panel Workshops
 
Etiqa Takaful Motor Assistance Call Center
Toll Free : 1 800 22 5542       
Etiqa Takaful Panel Workshops
 
Kurnia Auto Assistance (KAA) Call Center
Toll Free : 1 800 88 3833     
Kurnia Panel Workshops
 
Lonpac Motor E- Assist Helpline
Toll Free : 1 800 88 1138
 
MSIG Motor Assistance Call Center
Toll Free : 1 300 88 0833
 
RHB Insurance Roadside Assistance Call Center
Toll Free : 1 300 88 0881
RHB Panel Workshops
 
The Pacific Insurance Roadside Assistance Call Center
Toll Free : 1 300 88 0988
Pacific Panel Workshops
Pacific Panel Windscreen Workshops
 
Takaful Malaysia Roadside Assistance Call Center
Toll Free : 1 800 88 8788
Takaful Malaysia Panel Workshops
Takaful Malaysia Panel Windscreen Workshops
 
Tokio Marine Motor Assistance Call Centre
Toll Free :1 800 88 1301
Tokio Marine Panel Workshops
Tokio Marine Panel Windscreen Workshops 
 
Zurich Roadside Assistance Call Center
Toll Free : 1 300 88 6222
Zurich Panel Workshops
Zurich Panel Windscreen Workshops 
 
 
          
 
MEDICAL ASSISTANCE SERVICES
HELPLINE INFORMATION
FROM MALAYSIA INSURANCE COMPANIES
 

Medical / Hospital Insurance
Hospital Admission & Discharge Call Centre
(Helpline Daily 24 hours)
 
 
AXA Medical Assistance Helpline
Fixed Line : +603-7843 9459
Toll Free : 1 300 88 9979. 
 
Lonpac Medical Assistance Helpline        
Fixed Line : +603-7965 3882.
 
The Pacific Insurance Medical Assist Call Center
Fixed Line : +603-7628 3992,
Fixed Line : +603-7965 5660.
PIB Panel Hospital List
Allianz Medical Assistance Call Center
Toll Free : 1 800 88 1311 (Life)
Toll Free : 1 800 88 1138 (Non Life)  
Fixed Line : +603-7954 4629 (Life) 
Fixed Line : +603-7628 3600 (Non Life)
Allianz Panel Hospital List
 
MSIG Medical Assistance Call Center
Toll Free : +603-7956 1233
MSIG Panel Hospital List

Zurich Medical Assistance Call Center
Toll Free : 1 300 80 0020
Fixed Line : +603-7803 2003
 
AIA Medical Assistance Call Center 
Toll Free : 1 300 88 1899
 
 
 
TRAVEL ASSISTANCE SERVICES
HELPLINE INFORMATION
FROM MALAYSIA INSURANCE COMPANIES

Travel Insurance
Worldwide Assistance Call Centre
(Helpline Daily 24 hours)

AXA Travel Worldwide Assistance Helpline
Fixed Line : +603 2142 0399
 
Lonpac Travel Worldwide Assistance Helpline
Fixed Line : +603 2711 8299

AIG Travel Guard Worldwide Helpline
Fixed Line : +603 2772 5600

Allianz Travel Worldwide Assistance Helpline
Fixed Line : +603 7628 3919,
Fixed Line : +603-7965 3919.
 
MSIG Travel Worldwide Assistance Helpline
Fixed Line : +603-7965 3930

EMERGENCY EVACUATION MEDICAL ASSISTANCE
HELPLINE INFORMATION
FROM MALAYSIA INSURANCE COMPANIES

Emergency Evacuation& Repatriation Services
Medical Assistance Call Centre
 
AIG Worldwide Medical Assistance Call Centre
Fixed Line : +603-2772 5600
 
Zurich Worldwide Medical Assistance Call Centre
Fixed Line : +603-7956 1233
 
24 hours Claims Service
For Hospital Admission & Discharge and Travel Insurance.
 
Reporting A Claim / Notification
ACPG Insurance Claim Support Information

ACPG Claim Support Line (Office hours)
+ 603 - 9286 3323.
 

ACPG 24 hours Claim Notification
SMS, Whatsapps, Viber, Wechat, Line.
+ 6011 - 1223 9838
 

ACPG Claim Fax services (Office Hours)
+ 603 - 9282 3232
 

ACPG Claim Email Support/enquiry
ACPG Claim Skype Account :
acpg.insurance (service@acpgconsultant.com).

 
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ACPG Management Sdn Bhd
PBB-3985174034
 
Insurer Bank Account Number

AIG MALAYSIA INSURANCE BERHAD :
HSBC-3012-9587-9101
 

AXA AFFIN GENERAL INSURANCE BERHAD :
MBB-5141-0520-6919
Affin-1000-2000-9871

LONPAC INSURANCE BHD :
CIMB-9899-000-0003-71
 

MSIG INSURANCE (MALAYSIA) BHD :
MBB-5140-1127-9262
 

THE PACIFIC INSURANCE BERHAD :
MBB-5143-5681-4875
 
 
NCD Online Check (ISM)

What is No Claim Discount (NCD)?

The No Claim Discount (NCD) is a reward scheme received by motor policy holders for not making a claim during the preceding 12 months.


How much of No Claim Discount (NCD) am I entitled to?

Consumers are eligible for NCD ranging from 0% to 55% of the premium payable depending on the type of vehicle, coverage and number of years claim not intimated. For a private car, the scale of NCD ranges from 0% to 55% as provided in the policy/certificate whereas for motorcycles and commercial vehicles, it ranges from 0% to 25%.


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Find out the current insurer for your vehicle, type of coverage, policy period and policy number by entering your details 
 
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Renew your Car Insurance Online and Purchase Travel Insurance Online
without leaving your home or office. No jam, no parking problem.
Just submit via our online form and make payment via credit card or bank transfer.
Whatsapp +6011-1223 9838 if you need help.
 
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FAQ For ACPG Motor Vehicle Insurance 

We hope to make your renew car insurance online as easy as possible. Below is the list of commonly asked questions about motor car insurance renewal. If none of these questions/answer address your concern, please feel free to contact us.

1) Is Your Insurance Premium Cheaper?
All Insurance company premium is the same, as the rate is governed by Bank Negera. Thus, there is no difference if you purchase your insurance from
ACPG Principal Insurer or your existing company. The insurance premium rate will be the same. The only possible difference is excess or loading which is subjected to many conditions and at the discretion of the Insurance company to impose.

2) How Do I know My NCD (No-Claim Discount)?
Your NCD entitlement is usually mentioned in your renewal notice from your existing insurer.

3) How do I know my Car Present Market Value?
It is important that you do not under-insured your car. Find out your car present value based on your car make/model via
ACPG Principal Insurer Agreed Value.

4) May I know the Policy coverage and benefits from ACPG Principal Insurer Motor Comprehensive Cover?
As your motor car insurance will be under-written by Allianz, we encourage you to read about their Product Disclosure Sheet to better understand here.

5) What benefits do I get by renewing with ACPG Principal Insurer General Insurance?
If you choose to renew with
ACPG Principal Insurer General Insurance, you will enjoy 24 hours ACPG Principal Insurer Auto Assist (Road Assistance Program), free expiry reminder service, immediate online cover note issuance and fast claim service.

6) Do you cover all type of vehicles?
Yes, ACPG Principal Insurer Insurance covers private and company registered cars, Permit A or Permit C Lorry or commercial car.

7) Do you accept all car models?
Only a few car models which classified as High Risk Theft Vehicle (HRTV) will not be accepted through
ACPG Principal Insurer Insurance:

(Please note the HRTV list is subject to change from time to time without further notice.)

Toyota Harrier (if Sum Insured more than RM100,000)
Toyota Camry (3 years and below)
Toyota Fortuner / Hilux / Landcruiser / Lexus / Prado aged 5 years and below
All Toyota Alphard/Velfire
Toyota Estima (5 years and below)
All Toyota Caldina
All Toyota Celica
All Subaru Impreza
Honda CRV (3 years and below)

8) Do you provide any emergency roadside assistance? How can I reach them?
Yes,
ACPG Principal Insurer have provide emergency roadside assistance. It is 24 hours a day, 365 days that can be reached at here.

9) What’s a "NO CLAIM DISCOUNT” (NCD) entitlement?
No Claim Discount (NCD) is given to the policy holders upon renewal of motor insurance policy if no claim was made against your policy within 12 months coverage. Once you have claimed on the motor insurance then your NCD will be forfeited and falls back to 0%.

10) Will I lose my NCD if I make a claim?
If any claim is made on your motor insurance policy during the period of cover, your NCD will be forfeited and revert to 0%. You will have to start to accumulate your discount in a new cycle. However, this excludes no-fault Own Damage claim and windscreen claim, provided if an additional cover for windscreen is purchased.

11) If I have insured more than one vehicle, will the same NCD apply for all?
No, one NCD percentage can only be applied to one vehicle only.

12) Can I transfer my company registered car’s NCD to my personal car?
No. You can only transfer your NCD to another vehicle that belongs to you (registered under your own name).

13) How much do I insure my vehicle for?
You are advised to cover your car based on
ACPG Principal Insurer agreed value at the time of renewal.

In the event if your car is under-insured (insured for a sum less than it’s ACPG Principal Insurer agreed value) at the time of any loss of damage, the Average Clause in the policy will apply when the insurance company settles your car insurance claims. You shall bear the difference and the rateable proportion of the loss when the market value of your car at the time of loss exceeds the insured value. For example, if your car is under-insured by 20% than its market value, the insurance company will compensate you 20% less for each claim.

If your car is over-insured (insured for a sum more than its ACPG Principal Insurer agreed value) at the time of any loss of damage, the insurance company will settle your claims enough to cover the loss incurred up to the market value of your car. If you over-insured your vehicle, you would have paid higher but unnecessary premiums.

14) What should I do when I meet an accident?
After an incident that could lead to a claim you should notify ACPG and
ACPG Principal Insurer  immediately, if you required towing service to send your car to ACPG Principal Insurer approved panel workshop only.

If third party vehicle is involved, note the registration number of the vehicle, nature of damage sustained and the insurer concerned. And if third party is injured, note the injuries suffered and if possible the personal details such as name, age, contact address, telephone number, etc
Lodge Police Report within 24 hours and send your insured vehicle to our approved panel workshop. Should you need claim advice and guidance, please contact ACPG customer service +603-92863323 or your nearest
ACPG Principal Insurer branch.

15) How do I get my car repair after accident happen?
You may send your car to any of
ACPG Principal Insurer 345 approved panel workshop nationwide. ACPG Principal Insurer approved panel workshop will undertake to arrange the repairs.

16) How long will my claim take to process?
For accidental damage less than RM5,000,
ACPG Principal Insurer panel workshop can immediate commence repair work without adjuster assessment. If the repair cost more than RM5,000, ACPG Principal Insurer will send an adjuster to assess the damage within 48 hours and the workshop will start repair work after the adjuster assess the damage.

For other types of claim, Allianz aims to settle the claim within 10 working days subject to complete documentation has been obtained. Please call ACPG customer service for more details at +603-92863323.

17) What is an excess?
The excess is the first amount of claim borne by insured. For example, insured total claim amount is RM4,000 and have an excess of RM500 on your motor insurance,
ACPG Principal Insurer will settle the RM3,500 and insured will have to pay the balance of RM500 before the workshop release your vehicle.

18) What is the compulsory excess for my car?
You will be charged a compulsory excess of RM400 as stated under endorsement 2F of the Schedule if you allow your car to be driven by the following:
- who is under the Age of 21 years
- who is the holder of a Provisional (L) driving license
- who is the holder of a Full driving license of less than 2 years
- who is not named in the Schedule
- named in the Schedule who is less than the age of 21 years and/or the holder of a provisional (L) driving license and/or the holder of a Full driving license of less than 2 years.

19) What is loading?
Loading is an additional surcharge imposed on the basic premium rate to cover high risk exposure. Examples of risk factors for loading are driver age/named drivers’ age, age of vehicle, claim experience, high performance/sports car.

20) How many named drivers can be included in the insurance coverage?
You can name two drivers (yourself and other) for free. However, you may also name four (4) additional drivers under your motor insurance for a small charge of RM10 per person.

21) Do I need to inform ACPG Principal Insurer of any changes of engine to my car?
Yes, you are required to inform ACPG Principal Insurer, because change of engine may change the risk exposure and premium amount charged.

 
 
ACPG Principal Insurer (Malaysia Insurance Company)
AIG General Insurance Malaysia Berhad
Allianz General Insurance Company (Malaysia) Berhad
AM Insurance Berhad
AXA Affin General Insurance Berhad
Kurnia Insuran Berhad
Lonpac Insurance Berhad
MSIG Insurance (Malaysia) Berhad
The Pacific Insurance Berhad

TRAVEL INSURANCE
CONSTRUCTION INSURANCE
FINANCIAL PLANS
FIRE INSURANCE
GROUP EMPLOYEE BENEFIT SCHEMES
INVESTMENT-LINKED POLICIES
LIFE INSURANCE
LOANS & MORTGAGES
MARINE CARGO INSURANCE
MEDICAL INSURANCE
MONEY INSURANCE
MOTOR INSURANCE
PERSONAL ACCIDENT INSURANCE
POLICYCARE
PUBLIC LIABILITY INSURANCE
TAKAFUL PRODUCTS
TRAVEL PA INSURANCE
WILLS & TRUSTS
Car Insurance Claims
AXA Malaysia Insurance Company Profile
Travel Insurance Claim
Personal Accident Insurance Claims
Home Insurance Claim
Medical Insurance Claim
FOREIGN WORKER INSURANCE SCHEME
MSIG Malaysia Insurance Company Profile
LIABILITY INSURANCE
FIDELITY GUARANTEE INSURANCE
MOBILE EQUIPMENT INSURANCE
ALL RISKS INSURANCE
PLATE GLASS INSURANCE
GOODS IN TRANSIT INSURANCE
MARINE HULL INSURANCE
ENGINEERING INSURANCE
HOME INSURANCE
Lonpac Insurance Berhad Company Profile
Marine Insurance Claim
Fidelity Guarantee Insurance Claim
Public Liability Insurance Claim
Contractor All Risk Insurance Claim
Workmen Compensation Insurance Claim
Foreign Worker Insurance Claims
Money Insurance Claim
Plate Glass Insurance Claim
Burglary Insurance Claim
All Risks Insurance Claim
Fire / Houseowner / Householder Insurance Claim
BURGLARY INSURANCE


TRAVEL INSURANCE

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Q : What is AIG Travel Insurance by ACPG?
A : AIG Travel Insurance is a comprehensive insurance plan for domestic and overseas travel. The major benefits provided are medical related benefits, personal accidents benefits, travel inconvenience & other travel-related benefits and 24-hours worldwide travel assistance.

Additionally, you can choose to purchase our optional rider benefit which extends your coverage to include your golfing equipments and your participation in special sports such as winter sports activities & scuba diving.

This product is exclusively available to any individual person for purchase for themselves, their spouse and children at the following websites:
www.aig.com.my

Any enquiry, please call ACPG careline +603-92863323 or email enquiry@acpgconsultant.com.

For more information, please visit www.acpgconsultant.com or facebook biz page www.facebook.com/acpg.management.
 

CONSTRUCTION INSURANCE

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Q : CONSTRUCTION INSURANCE MALAYSIA KUALA LUMPUR
A : There are 3 main insurance covers in the construction industry, namely

1) CONTRACTORS’ ALL RISK INSURANCE

Contractors’ All Risk Insurance is specifically designed to cover the Insured against loss or damage in respect of contract works, construction plant and equipment and/or construction machinery as well as against third party claims in respect of property damage or bodily injury arising in connection with the execution of a building project.

A Contractors’ All Risks policy may be concluded by the principal or by the contractors engaged in a project, including all subcontractors.

Contractors’ All Risk insurance provides an "all risk” cover – every hazard is covered which is not specifically excluded.

This means that almost any sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the building site will be indemnified. The most important causes of losses indemnifiable under Contractors’ All Risk insurance are:

a) Fire, lightning, explosion

b) Act of God such as flood, inundation, windstorm of any kind, earthquake etc

c) Theft, burglary

d) Bad workmanship, lack of skill, negligence, malicious acts or human error



2) BONDS / INSURANCE GUARANTEE

Bonds, which may be required in almost every sphere of inter-personal and inter-corporation transactions are very wide in scope. It is not a form of insurance business but because of the fact that insurance companies are financial institutions, their bonds are acceptable, hence the involvement of insurance companies in bonding business, particularly those bonds which can generate other classes of insurance business for example, bonds business which is secured together with other project insurances like the Contractors’/Erection All Risks, Public Liability and Workmen’s Compensation insurance.

There are certain peculiar features in Bonds :-

a) A bond once given, cannot be cancelled before its expiry date.

b) All bonds issued to contractors for government projects are demand bonds and are worded in such a way that they can be invoked by the holder of the bond without any reason and explanation. Insurer is obliged to pay upon demand notwithstanding any dispute or protest by the contractor or insurer or any third party.



3) WORKMEN’S COMPENSATION INSURANCE

There is a small market for Workmen’s Compensation Insurance and this demand usually comes from :-

a) Contractors who are obliged to arrange such insurance under the conditions of the contract with the Principal.

b) Employers with foreign workers who are not eligible to contribute to SOCSO but because of (a) above, usually include these workers in their insurance based on the wage roll of 15% of the total contract value.

It should however be noted that the employer or their sub-contractors are also required under the provision of the Workmen’s Compensation.

This policy is designed to provide cover for any employee in the Insured’s immediate service against injury by accident or disease arising out of and in the course of this employment which his employer is liable to pay for such compensation either under :-

a) The Law (s) set out in the schedule of the policy

b) Common Law
 

FINANCIAL PLANS

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Q : FINANCIAL PLANS MALAYSIA KUALA LUMPUR
A : Financial plans are roadmaps to personal financial goals which include financial freedom, early retirement, children’s education, general wealth accumulation and many others. These financial plans will take into account a person’s current assets and liabilities, sources of income, investments and insurance programmes, estate distribution objectives and tax position.

This information is often collected via a fact finder. Financial advisors are required to ‘know your clients’ financial background and objectives in order to write a practical financial plan to achieve their objectives.

There are also many clients who may require only single objectives like insurance planning. ACPG provides this through our PolicyCare process which require a fact finder followed by a policy summary before a Statement of Recommendation (SOR) is produced.

The SOR will report the current situation and make recommendations to address the shortfalls. Our clients will have the option to choose the products. Through the financial plans, our clients are more likely to reach their financial goals successfully.
 

FIRE INSURANCE

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Q : FIRE INSURANCE MALAYSIA KUALA LUMPUR
A : Fire Insurance Policy is designed to provide indemnity to the Insured in the event of loss or damage to the property Insured by fire or named Peril as specified in the Policy Schedule. This is a tariff class of insurance ie, the premium rate is fixed by Bank Negara Malaysia.

There are 3 classes of fire insurance for propertied namely domestic, commercial and industrial. Fire insurance for domestic properties include all residential buildings such as terrace houses, bungalows, high-rise apartments and condominiums. Commercial properties include shop houses, complexes and office buildings. Industrial properties include all buildings occupied for industrial purposes.

Fire Insurance can also cover damage to contents of buildings due to fire. Such contents will include personal effects in residential properties, office equipment, furniture & fittings in commercial buildings as well as machineries and equipment in industrial buildings.

The basic Fire Insurance Policy covers loss or damage to the Property Insured caused by:-

a) Fire

b) Lightning

c) Explosion of domestic boiler or domestic gas cylinder not forming part of any gas work

The Fire Policy may be extended to cover loss or damage caused by other named Perils including RSMD, Aircraft & other aerial devices, Earthquake & Volcanic Eruption, Storm Tempest, Flood, Explosion, Impact Damage, Bursting or overflowing of water tanks, Electrical Installation Clause (B) etc

This policy covers loss of or damage to property insured caused by or arising from:

1. Damage by fire & lightning
2. Damage by explosions of domestic boiler or domestic gas cylinder not forming part of a gas work
3. Damage by water or other extinguishing agents used to put out the fire
4. Damage resulting from gaining access to a fire
5. Smoke damages caused by fire



The basic premium is calculated based on a standard fire tariff rate and is affected by the occupation of the property insured and construction classification of the building.


The policy can be extended, by additional premium, to cover loss of or damage to property insured caused by:

1. Riot, strike and malicious damage;
2. Explosion;
3. Impact damage by own vehicles and third party vehicles;
4. Aircraft Impact Damage;
5. Bursting and / or overflowing of water tanks apparatus and pipes (excluding sprinkler system);
6. Bush / Lalang Fire;
7. Spontaneous combustion;
8. Storm and Tempest;
9. Flood;
10. Earthquake and volcanic eruption;
11. Damage by falling trees or branches and object there from

The sum insured should represent the cost of restoring the damaged property to or replacing it with property similar in condition to that at the time of the loss.
 
Q : Fire Consequential Loss Insurance
A : Fire Consequential Loss Insurance

This policy provides protection against financial loss suffered due to interruption of business operations in consequence of damage to the property insured.

This policy covers:

Loss of Profit due to the reduction in Turnover
Standing Charges
The additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding or diminishing the reduction in Turnover
The rate is calculated by taking the total of all material damage premiums and dividing by the corresponding total of sums insured for material damage.

The policy can be extended, by additional premium, to cover loss arising from:

Damage to Specified Suppliers' Premises
Damage to Unspecified Suppliers' Premises
Damage to Specified Customers' Premises
Prevention Of Access
Public Utilities
Infectious Or Contagious Diseases, Murder, Suicide, Pest, Food Or Drink Poisoning; Or Defective Sanitary Arrangements
 
Q : Industrial All Risks Insurance
A : Industrial All Risks Insurance

This is a comprehensive packaged policy providing cover against Material Damage and Business Interruption of a business enterprise. This policy provides cover against all risks/ perils other than those which are excluded in the Policy

Section I – Material Damage
covers accidental physical loss or damage to the property insured due to any cause other than those excluded.

Section II – Business Interruption
cover financial loss arising from business interruption or interference in consequence of loss, destruction or damage covered under Section I

Exclusion:

Damage to the property insured caused by

faulty or defective design materials or workmanship latent defect gradual deterioration deformation or distortion or wear and tear
interruption of the water supply gas electricity or fuel systems or failure of the effluent disposal systems to and from the Premises
settling or bedding down of structures shrinkage or expansion of foundations walls, floors or ceilings
collapse or cracking of buildings
corrosion rust extremes or changes in temperature dampness dryness wet or dry rot fungus shrinkage evaporation loss of weight pollution contamination change in colour flavour texture or finish action of light vermin insects marring or scratching or inherent vice
theft unless accompanied by violence or threat of violence to persons or forcible and violent entry to or exit from the Premises
(Note: The list is not exhaustive. Please refer to our policy terms and conditions for a detailed list of exclusions.)
 
Q : Insurance Of Growing Trees
A : Insurance Of Growing Trees

This policy covers Palm Oil / Rubber/ Cocoa trees against damaged by fire or lightning whether accompanied by fire or not.

The policy can be extended, by additional premium, to cover loss of or damage to property insured caused by:

Animal damage
Flood
Windstorm
Riot, Strike, Malicious Damage
Aircraft Damage
 

GROUP EMPLOYEE BENEFIT SCHEMES

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Q : GROUP EMPLOYEE BENEFIT SCHEMES MALAYSIA KUALA LUMPUR
A : Group Employee Benefit Schemes are designed to provide coverage for employees of small businesses or large corporations.

The employee benefits provided usually include

a) Personal Accident cover which provides benefits upon partial/total and /or temporary/permanent disability due to accident.

b) Hospitalisation & Surgical benefits which cover in-patient medical expenses as well as outpatient accidental, cancer or kidney dialysis treatment.

c) Term Insurance which provides lump sum benefits upon death and total permanent disablement.

The employee benefits can be extended to include critical illness cover and retirement funds.

Group Employee Benefit Schemes can be specially customized to meet the requirements of participating companies. Some of the benefits like Personal Accident and Hospitalisation & Surgical may be tax deductible to the corporations or companies if properly designed.

The premiums are usually more attractive than personal policies due mainly to the spread of risk. As such, the premiums are dependent on the number of participating employees, gender distribution and job classification.

Group Employee Benefit Schemes are usually non-contributory, that is, the company pays the full premium. It can also be partial or fully contributory, especially retirement schemes.

For retirement schemes, it is common to include a vesting clause which helps promote employee retention. Defined contribution schemes are more commonly used for Employee Benefits as the expenes are predetermined and easier to manage compared to Defined Benefit Schemes.

Due to the complexities and the various regulatory requirements, it is advisable to work with insurance advisors who are familiar with the intricacies of the group employee benefit schemes, starting with the objectives or purpose of the group schemes.
 

INVESTMENT-LINKED POLICIES

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Q : INVESTMENT-LINKED POLICIES MALAYSIA KUALA LUMPUR
A : Investment-linked policies have been in Malaysia for more than a decade. While it takes the form of a life insurance policy providing protection upon death or disablement, it also has an investment component.

Ordinary life insurance policy funds are invested in various investments including properties, plant & equipment, government papers, private debt securities, foreign assets, loans, as well as stocks and shares.

Investment-linked funds, on the other hand, are invested basically in stocks and shares as well as fixed income funds.

Ordinary life insurance policies normally have minimum guaranteed cash values which is absent in investment-linked policies.

The cash values or total investment values is dependent upon the performance of the investment-linked funds. Thus, these values are not guaranteed.

These funds may be priced singly or with a bid and offer spread.

Investment-linked policies are more flexible allowing the policyholders to take premium holidays.

As long as there are cash values, the policies will continue to provide cover. In addition, policyholders may perform partial withdrawals by selling off units when the need arises. Such withdrawals do not attract interest unlike ordinary life policies.

Because of the transparent features, insurance charges are clearly illustrated on a year to year basis according to age increase. As such, protection or coverage may be varied over the lifetime of the policies subject to underwriting.

Most investment-linked policies will allow the addition of riders to provide a more comprehensive protection, for example, critical illness, medical, and accident riders. The choice of funds may also be varied over time depending on the economic environment.
 

LIFE INSURANCE

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Q : LIFE INSURANCE MALAYSIA KUALA LUMPUR
A : Life insurance is a financial tool designed to transfer life's risks to an Insurer. Commonly, the risks covered include death from natural and accidental causes, as well as total and permanent disability (TPD). Suicide is also covered but subjected to the policy being inforce for more than 12 months.

The premiums of life insurance policies are determined by the mortality experiences of the populace. Cost of management and returns on investments also affect the premiums. The actuary is responsible for managing the life insurance pool.

Generally, there are 3 kinds of life insurance policies:

i. Whole Life which provides death and TPD cover throughout the life of the insured.There is usually a cash value at the end of the day. Whole life policies are usually designed to protect loss of income, provide for trust planning or create an estate.

ii. Endowment which provides death and TPD cover over a limited period of time, eg. 20 years, ending with a maturity value. Endowment policies are often used to set up a fund for retirement, children’s education and others.

iii. Term Life which provides the cover for a limited period or term usually without any cash value. Term Insurance is usually used by corporations to cover their keyman or to cover a loan.

Additionally, there are Critical Illness policies as well as Investment-linked policies.

i. Critical Illness Policies not only cover death and TPD, but also pay out the death proceeds upon diagnosis of one of the 36 critical illnesses. It serves as a lump sum medical fund.

ii. Investment-linked Policies as it is so named, provide investment returns apart from death and TPD cover. The returns of an Investment-linked policy depend on the performance of the investment funds of the insurer.

Various riders may be attached to the Life insurance policies to enhance its coverage. Common riders include Term riders, Critical Illness riders, Waiver of premium riders, Payer Benefit riders or medical and accident riders.

Life Insurance premiums of individual are tax deductible up to RM6,000 including personal EPF contributions. Proceeds of life insurances may be paid to nominees or absolutely assigned depending on the objectives of the purchase.

The administration of Life Insurance policies is under the purview of the Insurance Act 1996. Bank Negara Malaysia oversees the operation of the Life Insurance business by Life Insurers.
 

LOANS & MORTGAGES

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Q : LOANS & MORTGAGES MALAYSIA KUALA LUMPUR
A : Loans & Mortgages are used for the purchase of new properties or to refinance existing ones. Various loan packages are available depending on the financial institutions or banks an individual borrows from.

Term loans are commonly used to lock in the interest rates while flexi loans with variable interest rates will allow the borrower flexibility to access the available balance in the loan account.

Interest rates of the loans are mainly dependent on the loan amount as well as borrower profile. The maximum term of the loan is dependent on the entry age of the borrower, usually up to age 70 years.

Financial institutions may have differing preferences for various types of properties such as residential (landed or high-rise), commercial, industrial or land. Eligibility for the loans is subject to the Debt Servicing Ratio (DSR) of the borrower. ( DSR = Debt Instalment ÷ Net Monthly Income )
 

MARINE CARGO INSURANCE

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Q : MARINE CARGO INSURANCE MALAYSIA KUALA LUMPUR
A : This type of insurance indemnifies the Assured against the loss of cargo whilst in transit, usually from a warehouse (of departure) to a warehouse (of arrival) basis caused by a peril insured. The insurance is suitable for shipment by sea or by air and must be arranged before the commencement of the shipment of the insured cargo.

Marine Cargo Insurance policies may be arranged on the following basis :-

a) Marine Open Cover (MOC) Policy

This is a continuous policy that is issued to the Assured commencing from an agreed date and remains in force until cancelled.

A description of the cargo insured, the maximum upper value limit per shipment and the terms of cover are specified in the policy schedule.

The MOC provides the Assured automatic coverage for all shipments described in the policy schedule up to the limit specified. Shipments outside the description of the policy schedule are not automatically insured.

Certificates of Insurance are issued for individual shipments.

The premium is charged for each shipment based on the terms described in the policy schedule.

b) Single Shipment Policy

This is a single voyage policy for a single shipment of cargo from one place to another.

The insurance commences from the time the goods leave the shipper’s or seller’s warehouse or place of storage of the consignor and continues until it reaches the Assured’s premises or other final warehouse at the destination named in the policy.

Single shipment policy is suitable for clients who do not have regular shipments and hence, do not have a Marine Open Cover policy.



c) Annual Policy

This is an Open cover but issued to cover a specific period of time, usually 12 months.

A provisional or deposit premium is normally charged based on the estimated annual turnover and is adjusted upon expiry based on actual turnover declared. Alternatively, the premium is debited against monthly declaration received.



Double Taxation Benefit

The Malaysian Government has allowed a Double Taxation Relief Benefit for payments made for Marine Cargo Insurance provided such insurance is made from a Malaysian insurance company.

This incentive is allowed for both export and import shipments.

Types of Sales Contracts

a) CIF (Cost Insurance and Freight)

The seller is responsible for all costs of delivering the goods up to the final port of destination. The CIF terms is inclusive of cost, insurance and freight plus a percentage (usually 10%) to cover incidental expenses and/or import duty.

b) C & F (Cost & Freight)

The buyer is responsible to arrange for the insurance. The seller is only responsible for the freight and other charges to deliver the cargo to the port of destination. The C & F Marine Cargo Insurance commences from the time the buyer assumes an insurable interest.

c) FOB (Free on Board)

The seller is responsible for all costs under an FOB arrangement to deliver the cargo safely on board the ocean going ship and obtain a bill of lading. The buyer is responsible to arrange for the insurance for the shipment of the cargo to the final destination.

Scope of cover

The following are the usual types of coverage offered to the Insured

a) Institute Cargo Clause (ICC) (A) 1.1.82

b) Institute Cargo Clause (ICC) (B) 1.1.82

c) Institute Cargo Clause (ICC) (C) 1.1.82



The Policies may be

a) Single Shipment Policy

This is a single voyage policy for a single shipment of cargo from one place to another. Single shipment policy is suitable for clients who do not have regular shipments.

b) Annual Policy

This is an Open cover but issued to cover a specific period of time, usually 12 months. A provisional or deposit premium is usually charged based on the estimated annual turnover and is adjusted upon expiry based on actual turnover declared. Alternatively, the premium is debited against monthly declaration received.

Double Taxation Benefit

The Malaysian Government has allowed a Double Tax Relief Benefit for payments made for Marine Cargo Insurance as part of an effort to reduce the outflow of insurance premiums overseas, provided such insurance is made from a Malaysian insurance company. This incentive is allowed for both export and import shipments.
 

MEDICAL INSURANCE

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Q : MEDICAL INSURANCE MALAYSIA KUALA LUMPUR
A : Medical or Hospitalisation & Surgical Insurance provide cover for treatment (admission) to a registered hospital. The benefits covered usually include hospitalisation room & board, surgical fees, medical treatment charges, pre and post hospitalisation diagnosis & treatment, outpatient cancer treatment, kidney dialysis, etc.

Medical insurance will provide hospitalisation and surgical treatment benefits only upon admission unless specifically excluded such as pre-existing or specified illnesses.

The exception is treatment due to accident. In the event of an accident, the medical benefits can be claimed for outpatient treatment.

The hospitalisation and surgical benefits are claimable only after 30 days waiting period except in the event of an accident, where medical benefits are claimable immediately when the policy is inforce.

There is also an exclusion period of 120 days for specified illnesses. Pre-existing illnesses may be excluded for 120 days or permanently depending on the severity.

Most hospitalisation and surgical policies come with a co-insurance of 10 percent with a maximum limit.

Where the room & board upon admission is higher than the policy’s room & board, a co-insurance of 20 percent is applicable throughout all medical treatment charges.

Cashless admission may be available but is subjected to private hospitals’ arrangement with the Insurers. Otherwise, claims will be on a reimbursement basis.

Most medical or hospitalisation and surgical policies provide cover up to age 70 years while some may cover up to age 80 years. Only renewals are allowed for life insured above 60 years or 65 years depending on Insurers.
 
Q : Group Hospitalisation & Surgical Insurance
A : Group Hospitalisation & Surgical Insurance

Group Hospitalisation and Surgical Insurance is a comprehensive health insurance designed to reimburse the insured on incurred medical expenses due to illnesses/diseases/accidents.

The basic cover available in this Group Hospitalisation & Surgical insurance are:-

i. Hospital room and board
ii. Intensive care unit (ICU)
iii. Hospital supplies and services
iv. Surgical fees
v. Anaesthetist fees
vi. Operating theatre
vii. In-hospital physician visit
viii. Pre-hospitalisation diagnostic tests and specialist consultation
ix. Post hospitalisation treatment
x. Ambulance fees
xi. Emergency accidental outpatient treatment
xii. Emergency accidental outpatient dental treatment
xiii. Outpatient kidney dialysis treatment
xiv. Outpatient cancer treatment
xv. Cash allowance for admission to Malaysia government hospital
 
Q : Lonpac MediSecure Medical Card Insurance Plan
A : What is MediSecure insurance?

A health plan with guaranteed renewal up to 80 years old and no lifetime limit.

Life’s unpredictability can make it wonderful and exciting, and challenging at the same time. That is why, it is important to be ready for the unexpected events in life so you can ease the uncertainties and bounce back from any setbacks.

As the Malay saying goes, “sediakan payung sebelum hujan", which literally means preparing an umbrella before it rains – MediSecure can be that plan to safeguard your health so if anything unfortunate happens, you’ll be glad to know that you’re covered and your loved ones won’t be financially burdened.


What does MediSecure insurance covers?

MediSecure provides for reimbursement of hospitalisation and surgical expenses incurred due to illnesses or accidents covered under the policy.

With MediSecure, you have the flexibility to choose the optional protection (i.e. top-up benefits, deductible) that you need.


What are the salient features of MediSecure insurance?

• Guaranteed Renewal up to 80 years old (age at next birthday)
• No Lifetime Limit
• Flexible Co-Payment
• Higher entry age up to 65 years old (age at next birthday)
• 10% No Claim Bonus on Initial Overall Annual Limit at each renewal (up to 5 years)
• Discount up to 50% on Annual Premium with Deductible option
• Extra Benefits for Medi500 and Medi380 at No Extra Charge
• Option to Top Up Benefits with additional premium
• Automatic Renewal option
• 0% interest for 6 or 12 month installments with selected credit cards for Individual Policyholders
• Cashless hospital admission for Non-Deductible Policy
• Worldwide Coverage
• Tax relief up to RM3,000


What are the covers/benefits of MediSecure insurance?

Section 1 - Inpatient/Daycare/Outpatient Benefits
• Hospital Room and Board
• Intensive Care Unit/Critical Care Unit/High Dependency Unit
• Hospital Supplies and Services
• Surgical Fees
• Anaesthetist Fee
• Operating Theatre
• In-Hospital Physician Visit
• Pre-Hospital Specialist Consultation
• Pre-Hospital Diagnostic Tests
• Post-Hospitalisation Treatment
• Organ Transplant
• Day Surgery
• Annual Outpatient Kidney Dialysis Treatment
• Annual Outpatient Cancer Treatment
• Ambulance Fees
• Emergency Accidental Outpatient Treatment
• Emergency Accidental Outpatient Dental Treatment
• Medical Report Fees
• Daily Cash Allowance at Malaysian Government Hospital

Section 2 – Extra Benefits (applicable to plan Medi500 and Medi380 only)
• Hospital Income
• Critical Illness Benefit
• Bereavement Allowance

Section 3 – Top Up Benefits (with additional premium)
• Annual Outpatient Kidney Dialysis Treatment
• Annual Outpatient Cancer Treatment
• Second Surgical Opinion
• Annual Outpatient Physiotherapy/Stroke Treatment
• Home Nursing Care
• Emergency Sickness Treatment
• Accidental Outpatient Alternative Medical Treatment
• International Emergency Medical Evacuation and Repatriation


Who is eligible to cover under MediSecure insurance?

The following persons who are permanently residing in Malaysia are eligible for the cover:
• Malaysian Citizens
• Permanent Residents (PR) of Malaysia
• Foreigners (Expatriate) with valid work permit in Malaysia
• Full-time foreign students in Malaysia
• MM2H applicants


What is the age limit under MediSecure insurance?

For Adult: Age between 18 and 65 years at new entry, renewable up to 80 years
For Child: Unmarried and unemployed children who have attained the age of 30 days old but under 19 years of age, or up to 23 years if they are still full time student at a recognised educational institution


How much premium do I have to pay under MediSecure insurance?

The premium you have to pay may vary depending on your choice of plan, occupation, age group, gender and our underwriting requirements.
 

MONEY INSURANCE

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Q : MONEY INSURANCE MALAYSIA KUAL LUMPUR
A : Money Insurance Policy is designed to indemnify the insured in the event of money being stolen or robbed either from the insured’s business premises, or whilst it is being carried to or from the bank.

The loss of money will have an impact on any organisation, regardless of the size of the organisation. It is therefore extremely important for a Money Insurance to be effected to protect the movement from/to the insured’s premises.

The Money Insurance Policy covers the following :

Money In Transit
Loss of money whilst in transit from the insured’s premises to bank and vice versa whilst accompanied by the insured’s authorized employees. In respect of coverage insurance for salaries/wages, this continues until monies insured are fully paid out to the insured’s employees.

Money in Premises
Loss of money whilst the money is kept in a locked safe or strong room in insured premises by forcible and violent entry upon the insured’s premises; as a result of robbery, hold-up whilst in premises.

If cover is required for money kept in locked drawers, cabinets, cash registers etc, it is important for these to be specifically stated in the Proposal Form.

Safe/Strong Room
Damage to the safe/strong room following forcible and violent entry upon the premises or as a result of a robbery is covered.
 

MOTOR INSURANCE

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Q : MOTOR INSURANCE MALAYSIA KUALA LUMPUR
A : Motor insurance is compulsory under the law of Malaysia.

This class of insurance is governed by the Motor Tariff Act and can only be transacted on a Cash Before Cover basis.

The main classes of vehicle can be broadly divided into 3 categories, namely:-

a) Private Cars

b) Commercial Vehicles including Special Type vehicles

c) Motor Cycles



Motor Insurance cover is available for

i) Comprehensive cover which provides cover for damage to own vehicle, third party vehicle and properties as well as liabilities

ii) Third Party cover which does not cover own vehicle damage

iii) Act Only cover which only covers third party bodily injuries

While premium is highest for the Comprehensive cover and lowest for Act Only cover, NCD or no claim discount is available on an increasing scale for good driving history.

Commencing at 25% at the beginning of 2nd year, it reaches a maximum of 55% at the beginning of 6 year for private cars. Commercial vehicle NCDs are between 15 to 25% only.

Additional cover for perils like flooding, subsidence, landslides and falling trees may be added to the Motor Insurance policy.

Passenger Liability cover is also a common extension. It is advisable to include cover for windscreen/windows as well as contents such as CD/DVD players, into the Motor Insurance policy.
 

PERSONAL ACCIDENT INSURANCE

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Q : PERSONAL ACCIDENT INSURANCE MALAYSIA KUALA LUMPUR
A : Personal Accident (PA) insurance is one of the most common insurance sold due to its relatively low premium. Unlike a life policy, personal accident insurance is an annual policy and subject to renewal every year.

Personal Accident insurance policy can be broadly categorized as follows:-

a) Individual Personal Accident policy taken on an individual.

b) Group Personal Accident policies taken by employers/organisation on the lives of their employees/members.

c) Travel PA policy taken whilst on travel.

d) Drivers & Passengers Personal Accident policies are taken up by car owners to cover the driver and passengers.

Personal Accident insurance basically covers an insured person against death or total & permanent disability caused solely by violent, accidental, external and visible means.

Other benefits may include partial permanent disablement, total temporary disablement, weekly compensation and medical benefits.

The cover is on 24 hours basis worldwide, covering accidents happening away from or at home, in the course of travelling to and from home to the place of work and during social or sports activities not specifically excluded by the policy.

Personal Accident insurance is not a contract of indemnity therefore any compensation which is payable under the policy shall be paid irrespective of the benefits recoverable by the insured person from any other policy except for medical expenses which is subject to contribution.

No compensation for death or permanent disablement shall be payable unless the death or permanent disablement occurs within twelve calendar months from the date of accident.

The maximum liability of the company shall not exceed 100% of the capital sum insured for the period of insurance. In the event of a total of 100% having been paid, all insurance under the policy shall immediately cease to be in force.

There is really no scientifically acceptable formula to calculate sum insured of an insured person. Personal Accident insurance is a form of protection against loss of future earnings and not a form of speculative investment.

In other words, a Personal Accident insurance cover provide benefits what the Insured would have earned without the accident.

As such what determines an adequate sum insured is really the extent of protection required, which can vary from person to person depending on each individual’s background, age, state of career development, earning power and the number of dependants.
 

POLICYCARE

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Q : POLICYCARE MALAYSIA KUALA LUMPUR
A : PolicyCare is a service to help our clients organise and review their existing insurance programmes. Many clients have multiple insurance policies of various kinds bought from advisors and agents but may not fully understand and appreciate these policies.

Many may be wrongly or under sold due to insufficient or inappropriate advice.

The aim of PolicyCare is to address and reverse this trend by providing our clients a comprehensive summary of their existing programmes coupled with advice and explanatory notes.

The PolicyCare document is produced after a detailed study and analysis upon receiving complete information from the client.

The document is usually prepared in a summary table format for ease of understanding and reference. Clients are not compelled to purchase any products upon receipt of the PolicyCare document.

The PolicyCare document may be followed by a Statement of Recommendation (SoR) which highlights the client’s needs and objectives, and the recommendation to address the shortfall. The SoR is a detailed report starting with the client’s objectives, analysis of the client’s current financial situation, disclosures and disclaimers, and concluding with the recommendation and action plan. It is advisable to review the SoR annually.
 

PUBLIC LIABILITY INSURANCE

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Q : PUBLIC LIABILITY INSURANCE MALAYSIA KUALA LUMPUR
A : The Public Liability Insurance Policy is designed to protect the insured in respect of his legal liability to pay compensation for accidental bodily injury to or accidental damage to the property of the other person caused by or through negligence of the insured or his employees or by any defect in the premises owned or any defects in the ways, works of the insured.

The Policy also pays for the litigation costs and expenses for defences that are incurred with the written consent of the Company.

All firms and business enterprises have a need for this cover and it is important that the proposer selects an adequate limit to protect their interest.

The sum insured or limit of indemnity should represent the maximum liability which the Insured estimates that this business could possibly incur. The sum insured can be arranged on :-

a) Limit of any one accident, and,

b) Limit at any one period.

The company shall indemnify the Insured against all sum which the Insured shall become liable at law for damages and claimant’s costs and expenses in respect of :-

a) accidental bodily injury to any person not being a member of the Insured’s household or any person in the service of the Insured.

b) Accidental damage to property not belonging to or in the custody or control of the Insured.

c) Any legal expenses incurred by the Insured in defending legal proceedings with the Company’s written consent.

Extensions are available on payment of additional premium. These extensions may include but not limited to fire & explosion, food & drinks poisoning, passenger/service lifts and escalators, innkeeper’s liability cover for hotels, car park liability clause, etc.
 

TAKAFUL PRODUCTS

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Q : TAKAFUL PRODUCTS MALAYSIA KUALA LUMPUR
A : Takaful Products are insurance or protection based on the concept of mutual assistance by applying the principles of solidarity, cooperation and responsibility. Participants contribute to the fund as a donation or ‘Tabarru’ which will be used to help each other in times of misfortunes such as death, total permanent disablement and critical illness. The fund is managed by the Takaful Operator.

In order to be Syariah compliant, 3 objectionable elements will have to be removed, namely, uncertainty (Gharar), gambling (Maisir) and usury (Riba). The business operations are monitored by a Syariah Committee to ensure continuing compliance. Claims are paid out from the ‘Tabarru’ fund.

Like conventional insurance, takaful products offer a combination of protection and investments. Riders may be added to enhance the protection. These riders may include hospitalisation benefits, critical illness and waiver of contribution benefits. Certificates of participation in the fund are issued instead of policies.

Not only muslims but non muslims too may participate in the takaful funds. The contributions are also tax deductable up to RM6,000 including personal EPF contributions.
 

TRAVEL PA INSURANCE

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Q : TRAVEL PA INSURANCE MALAYSIA KUALA LUMPUR
A : Travel PA provides cover for travellers within and outside the country. Benefits covered uder a Travel PA insurance usually include but may not be limited to death, disablement, medical expenses, loss of baggage, delayed flights, curtailment of travel due to unforeseen circumstances, loss of credit cards & personal effects, personal liability, hijacking, etc.

Most Travel PA insurance policies will include a repatriation benefit in the event accident or death.

Travel PA Policy should be taken up at least 2-3 days before travel. There is usually a maximum period of cover of about 6 months.

Premium is dependent on amount of benefits, number of days of travel, and the geographical locations of travel.
 

WILLS & TRUSTS

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Q : WILLS & TRUSTS MALAYSIA KUALA LUMPUR
A : Wills and Trusts are instruments for the distribution of estates.

A Will takes effect only upon death and is sometimes referred to as a testamentary trust.

An administrator or executor, either an individual or corporation must be appointed. Two (2) witnesses are required to validate the Will but both the witnesses should be independent and have no beneficial interest in the Will.

A Trust is an arrangement in writing in which the estate is managed by an individual or entity for the benefit of an individual or a group of individuals, eg. a charitable organisation.

A Trust may be created by a settlor or donor, for the beneficiaries, and executed while the settlor is still alive or upon death.

The Trust Deed governs the terms of the Trust while the Trustee is obligated to act according to the Trust Deed under the Malaysian Trustee Act.

It is important to review the Will or Trust regularly to ensure they continue to meet the objectives and intentions of the testator or settlor and to keep the records of estates current. In addition, there may be changes in beneficiaries or distribution of the shares of the estate.

While the law recognises a personal draft of a Will, it would be advisable to seek the services of an estate planner or advisor or a trust corporation. Would you seek medical treatment from an untrained practitioner?
 

Car Insurance Claims

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Q : AIG Malaysia Car Insurance Own Damage Claim Due to Accident
A : Own Damage Claim Due to Accident

• Notify us immediately after an accident. All accidents must be notified to us regardless of whether you intend to make a claim or otherwise.

• Only send your insured vehicle to our approved panel workshops.

• Ensure the following documents are provided to us:

• Duly completed claim form

• A copy of:

1.Driving license and identity card of driver who was involved in the road accident

2.Driving license and identity card of Insured

3.Updated insured’s vehicle registration card (both sides);

4.Police report (original or police certified true copy)

• If pursuing Knock-For-Knock (“KFK”) Claim on your policy, kindly provide us the following:

• All documents mentioned in item 3 above;

• Third party vehicle insurance information (by way of Jabatan Pengangkutan Jalan/ Road Transport Department) search;

• Duly completed KFK declaration letter that you are making a KFK Claim for damage to your vehicle on your policy;

• Police investigation result.



Accident Guard Coverage

- If you have purchased this additional coverage, we only need to know the check-in and check-out dates for repair works carried out at our panel workshop to process your claim following benefits arising out of an own damage claim due to accident:

• Daily cash allowance;

• Waiver of betterment cost;

• Option of spray painting of whole car.

Note : Daily Cash Allowance is paid to you whilst Waiver of Betterment Cost and Spray Painting of Whole Car are stated in our offer letter for the own damage claim due to accident.
 
Q : AIG Malaysia Car Insurance Windscreen Claim
A : Windscreen Claim

• For windscreen claims, please provide the following:

• Duly completed claim form;

• Photographs of damaged windscreen before repair (Vehicle registration number must be visible);

• Photographs of the replaced windscreen (Vehicle registration number must be visible);

• Updated copy of insured vehicle's registration card; and

• Original repair receipt.
 
Q : AIG Malaysia Car Insurance Theft Of Vehicle
A : Theft Of Vehicle

Theft claim is normally settled within 3 months at average from the date of notification and upon completion of our investigations.

The following documents are required to process a theft claim:

• Duly completed claim form;

• A copy of driving license and identity card of Insured

• Release letter (“E-Hakmilik”) or latest outstanding loan statement from the financial institution/bank which finances the purchase of your insured vehicle;

• Original Certificate of Insurance and Insurance Policy

• Memorandum & Articles of Association, Form 9, Form 13 (if applicable), Form 24, Form 44 and Form 49 duly certified as true copies by the company secretary (for company vehicle only);

• All of the vehicle's keys;

• A copy of Approved Permit & Custom Declaration Form (only for imported vehicle);

• Original vehicle registration card duly signed by owner; and

• Police investigation result.
 
Q : AIG Malaysia Car Insurance Third Party Property Damage Claim
A : f you intend to make a third party claim:

• Notify the other driver and/or owner who were involved in the road accident with your insured vehicle in writing about your intention to make insurance claim against him. In addition, state that you hold him responsible, and ask him to notify his insurer;

• Appoint a licensed adjuster to inspect your insured vehicle and thereafter provide you with their loss assessment/report; and

• If you do not have the other driver's contact information, you may conduct a search at Jabatan Pengangkutan Jalan / Road Transport Department based on the vehicle’s registration number to identify the insurer of the Third Party vehicle (“TP Insurer”).

• Submit the following documents to TP Insurer to facilitate your claim:

• Police report;

• Police sketch plan and key;

• Police investigation report;

• Adjuster's report together with photographs of damaged insured vehicle;

• Original bill and receipt issued by the adjuster for their services;

• Copy of your own vehicle insurance policy; and

• Copy of your identity card, driving license and vehicle registration card.
 
Q : AIG Malaysia Car Insurance Third Party Bodily Injury Claim
A : In the event you are involved in a road accident causing personal injury or death to any individuals including passengers in your insured vehicle at the time of accident, please ensure you follow the following guidelines:

Accident must be reported to the police within 24 hours after the road accident;
Notify us of the accident immediately;
Do not admit liability to anyone;
Do not enter into any negotiations without our prior consent;
Should you receive any letter and /or summons from the third party's solicitors, please inform us immediately;
You may speak to your insurance broker or our authorised agent to seek clarification.
 
Q : MSIG Malaysia Car Insurance Claim on Own Damage Claim
A : MSIG Malaysia Car Insurance Claim on Own Damage Claim

General Claims Guidelines
Lodge a report to the police as required by law within 24 hours.
Notify MSIG of the accident immediately.
If your vehicle sustained accidental damaged and require to be repaired, send your vehicle to MSIG authorized panel repairer. A Claim Form can be generated at MSIG’s panel repairer office for your completion (For Comprehensive Motor Policyholder Only).
Complete and submit the Claim Form together with the documents as per the checklist attached in the Claim Form.
If the motor accident involves third party, please:
Provide MSIG with details of the third party wherever appropriate
Do not negotiate, admit or repudiate any claim with the third party without MSIG's prior consent
Notify MSIG of police action against the driver, if any
Refer to MSIG if you are being approached by third party or his/her representative for compensation
Forward all relevant documents unanswered to MSIG as soon as you have received them for our immediate attention.

Own Damage Claim
Guidelines and Documents Checklist
Send your vehicle to MSIG’s panel repairer for immediate attention.
MSIG’s panel repairer will notify MSIG of accident on line, print Claim Form and acknowledgement letter for your completion.
Return the completed and signed Claim Form to MSIG together with the following documents:
Original/certified copy of Police Report
Copy of Policy/Cover Note
Copy of Vehicle Registration Card
Copy of your Identity Card and Driving Licence
Copy of your driver's Identity Card and Driving Licence (if you were not the driver at the time of accident)
Copy of the acknowledgement letter duly acknowledged
Statement from the driver, wherever possible
In the situation of Own Damage – Total Loss, the following documents are also required upon acceptance of our offer:
Two copies of JPJ Transfer Form K3 duly signed
Copy of JPJK1C Form duly signed, if applicable
Original Certificate of Insurance
Original Vehicle Registration Card duly signed
Letter of Release from hire purchase company, if applicable
Certified copy of your Identity Card by Commissioners for Oaths
JPJ "Lampiran A1" and "B" duly signed and certified by Commissioners for Oaths
Two sets of original car key
Knock-for-Knock (OD-KFK) Claim
OD-KFK claim involves the situation when your vehicle suffers damage after being knocked by another party who is at fault. You can then choose to claim against your own MSIG policy or against the insurer of the third party.
If you choose to claim against MSIG
You will not lose your No-Claim-Discount (NCD).
MSIG will appoint an Adjuster to inspect your vehicle.
You are required to pay the “excess” stated in your policy but you can subsequently claim for reimbursement against the insurer of the third party.
You can also claim for “loss of use” against the insurer of the third party.
Additional Documents required in addition to Own Damage claim
Certified copy of Police report/s of the third party driver(s).
Police Investigation Result.
Police Sketch Plan and Keys.
Negligent Third Party’s Vehicle No. and Insurance details.
A signed declaration letter from you to confirm the following:-
that you are making a Knock-for-Knock Claim
that the circumstances of the accident as reported to the police and Insurer are true
that the accident was caused solely due to the negligence of the Third Party
that the driver has not been charged by the police for the said accident
that you agree to No Claim Discount will be automatically forfeited if it is subsequently discovered that the accident was due to the Insured’s / driver’s own fault and/or negligence
If you choose to claim against the insurer of the third party
You have to appoint your own Adjuster.
You have to pay for your repair cost first and seek reimbursement directly from the insurer of the third party.
Accident where OD-KFK Claim is not applicable
When the third party vehicle is a bus, taxi, limousine or hire and drive vehicle.
When the insurer of the third party vehicle is an insurer out of Malaysia (e.g. Singapore).
When there is third party bodily injury involved, regardless of who is at fault.
 
Q : MSIG Malaysia Car Insurance Claim on Windscreen Damage Claim
A : MSIG Malaysia Car Insurance Claim on Windscreen Damage Claim

Guidelines and Documents Required
Send your vehicle to MSIG panel repairer for immediate attention.
MSIG’s panel repairer will notify MSIG online and print Claim Form for your completion.
MSIG’s panel repairer to take photographs and to conduct replacement of the damaged windscreen.
Return the completed and signed Claim Form together with the following documents to MSIG panel repairer for their onward submission to MSIG:
Copy of the Motor Policy showing the windscreen extended cover
Duly signed authorized letter for payment to be made directly to repairers
Pay the difference if the replacement cost of the windscreen exceeds the insured value of the windscreen cover
 
Q : MSIG Malaysia Car Insurance Claim on Theft Claim
A : MSIG Malaysia Car Insurance Claim on Theft Claim

Guidelines and Documents Checklist
Lodge a Police Report immediately upon discovery of the loss.
Notify MSIG of the theft immediately.
Collect the Claim Form from MSIG.
Return the completed and signed Claim Form to MSIG together with the following documents:
Certified Police Report
Original Certificate of Insurance
Copy of the Vehicle Registration Card
Copy of your Identity Card & Driving License
Copy of your driver's / custodian’s Identity Card and Driving License (if the vehicle was not in your custody at time of loss)
Copy of your Hire Purchase Agreement (if vehicle still under Hire Purchase as time of loss)
You and your driver/custodian are required to co-operate with the Adjuster/Investigator or any personnel who may be appointed by MSIG to conduct the investigations.
In the event the vehicle is recovered, notify MSIG immediately before taking out the vehicle from the police authority for MSIG to arrange for the vehicle to be inspected by the appointed Adjuster/Investigator. It is also important that we reinstate your policy (which will be cancelled automatically upon notification of theft) following the recovery of your vehicle and before driving it.
If the vehicle has been recovered in damaged condition, the vehicle is required to be sent to MSIG panel repairer only after inspection by the appointed Adjuster/Investigator.
 

AXA Malaysia Insurance Company Profile

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Q : Who is AXA Affin General Insurance Berhad?
A : AXA Affin General Insurance Berhad is a member of the AXA Group, with over 1,104 billion euros in
assets under management and more than 95 million customers around the world. AXA is one of the
world’s leading insurer. In Malaysia, it is also a member of the Affin Group, a leader in Malaysia’s
financial services sector.
 

Travel Insurance Claim

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Q : AIG Malaysia Travel Insurance Claims
A : AIG Malaysia Travel Insurance Claims

3 easy steps to make a claim

Step 1 : Notify AIG Malaysia immediately after the incident.
Call us at 1800 88 8811
or
Complete Travel Claims Notification Form and email it to AIGMYCare@aig.com
Step 2 : Get ready the relevant supporting documents as per this claims checklist :
(a) Boarding pass and e-ticket for all claims
(b) Original medical receipts and doctor's diagnosis if medical related
(c) Letter from airline confirming the duration of flight change and reason of change
(d) Property irregularity report if your baggage is delayed/damaged
(e) Original receipts additional accommodation, transportation, communication expenses, replacement cost for lost of travel documents
(f) Police report (lodged within 24 hours) on loss related incident.

Note: We may request for additional documents depending on the nature of the claim.
Step 3 : Submit all the above to AIG Malaysia within 30 days of incident
Mail to the following address:

Level 18, Menara Worldwide,
198 Jalan Bukit Bintang,
55100, Kuala Lumpur, Malaysia

Please note that while our intention is to handle your claim as quickly as possible, there may be circumstances in which we deem it necessary to request further documents in addition to those mentioned above. In the event this happens, we thank you for your understanding.
 
Q : MSIG Malaysia Travel Insurance Claim
A : MSIG Malaysia Travel Insurance Claim Guidelines

Provides you with
The necessary protection throughout your period of journey whether you are on a business trip or holiday.
General Claims Guidelines
Notify MSIG immediately as soon as you have returned from abroad in respect of any event that may give rise to a claim.
Complete the relevant sections of the Claim Form relating to your claim.
Then submit the Claim Form together with the following documents:
Tour Operator's Confirmation of Booking Invoice
Copies of Airline tickets
The following documents are also needed for:
Section 1 Personal Accident
Certified Copy of Death Certificate
Certified Copy of Post Mortem Report
Certified Copy of Deceased's Identity Card
Letter of Administration, if no nomination
Medical Report from Regular and Attending Physician
Certified Copy of Police Report (if death due to motor vehicular accident)
Proof of relationship between the Insured Person and the child(ren) - for claim on Child Education Fund
Section 2 Medical and Other Expenses
Medical Report from attending physician / Nature of Illness or injury
Medical Certificate from regular physician, if necessary
Original Medical Invoices and receipts
Invoices on accommodation, communication & traveling expenses (for claim on Compassionate Care & Child Care)
Recommendation letter from the attending doctor (for claim on Compassionate Care)
Invoices relating to cost of burial, cremation or conveyance of body to home, if necessary
Name and address of usual doctor in Malaysia, if necessary
Section 3 Personal Luggage and Personal Effects
Detailed breakdown of claimed items
Purchase receipts, warranty card etc, for baggage and/or personal effects, if any
Property Irregularity Report from airline
Police report in the event of theft
Photographs depicting damages to the baggage etc, if no report lodged to Airlines
Proof of compensation received from the responsible party
Section 4 Luggage Delay
Report from airline confirming the number of hours delay or misdirection in delivery
Section 5 Personal Money
Police report at the place of occurrence
Section 6 Travel Documents
Police report at the place of occurrence
Original receipts for additional accommodation, travel and communication expenses incurred in replacing lost travel documents
Copy of Emergency Certificate
Section 7 Cancellation
Documents to support the reason(s) for cancellation
Original receipts for payment of the insurance cover and any pre-booked and pre-paid tour expenses
Cancellation invoice from the tour operator concerned and refund obtained from them, if any
Section 8 Curtailment
Documents to support the reason(s) for curtailment
Original receipts for payment of the insurance cover and any pre-booked and pre-paid tour expenses
Cancellation invoice from the tour operator concerned and refund obtained from them
This Policy will only pay for any claim either under Section 7 or Section 8 but not both
Section 9 Travel Delay (including reschedule of flight)
A written confirmation from the airlines concerned confirming the duration of delay and reason(s) thereof
Section 10 Missed Travel Connection
A written confirmation from the airlines concerned confirming the duration of delay and reason(s) thereof
Section 11 Travel Overbooked
A written confirmation from the airlines concerned confirming overbooked incident
Section 12 Missed Departure
Documents to support the reason(s) for missed departure
Original receipts for additional accommodation and travel expenses incurred
Section 13 Travel Reroute
A written confirmation from the airlines concerned confirming the incident (actual arrival time vs schedule arrival time)
This policy will only pay for one claim made either under Section 9 or 10 or 11 or 12 or 13 but not all
Section 14 Loss of Travel Deposit
Documents to support the reason(s) for the claim on travel deposit
Original receipts as proof of payment made to travel agents
Section 15 Additional Cost of Rental Car Return
Rental Agreement
Receipt for payment made on additional cost of rental car
Confirmation letter or receipt confirming the actual date returned of the rental car
Medical report and bills stated the medical condition and duration of hospitalization
Section 16 Personal Liability
Correspondence from Third Party unanswered
Section 17 Loss of Use of Hotel Facilities
Confirmation letter from the hotel or handling agents starting the duration and reason for finding the alternative accommodation
Invoice and receipts as proof of the payment for alternative accommodation incurred
Section 18 Home Protection
Police Report on the incident
Claims Guidelines for Personal Liability Claim
Notify MSIG immediately after the third party has made a claim from you.
Do not admit liability, negotiate or repudiate any claim with the third party without MSIG's consent.
Provide MSIG with details of the third party wherever appropriate.
Forward all relevant documents unanswered to MSIG as soon as you have received them from the third party for our immediate attention.
 

Personal Accident Insurance Claims

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Q : AIG Malaysia PA Insurance Snatch Theft Claims
A : AIG Malaysia PA Insurance Snatch Theft Claims

4 easy steps to make a claim

Step 1 : Notify AIG Malaysia immediately after the incident
Call us at 1800 88 8811
or
Complete Claims Notification Form and email it to AIGMYCare@aig.com
Step 2 : Complete the relevant incident form
a. Personal Accident Claim Form - in the event of accidental death
b. Medical Claim Form - in the event of injury duesnatch theft or robbery
Step 3 : Attached all relevant supporting documents
a. A copy of your identity card, certified true copy of police report and police investigation results.
b. Historical purchase bills/warranty cards, repair/replacement bill, stop service advice/request for loss of mobile telephone & copy of state of mobile phone account (if loss of mobile phone), ATM withdrawal slip & certified true copy of updated bank book/bank state of account (ATM withdrawal protection), original key replacement receipt, copy of card registration card (key replacement cover), proof replacement of personal documents , ATM card, credit cards & loyalty card (if loss of personal document)
c. Original medical receipts for treatment of injury, medical report from attending practitioner, death certificate, burial permit, post mortem report and medical report for Total Permanent Disablement (in the event of accidental death & disablement).

Note : We may request for additional documents depending on nature of the claim.
Step 4 : Submit all the above to AIG Malaysia within 30 days of incident
Mail to the following address:

Level 18, Menara Worldwide,
198 Jalan Bukit Bintang,
55100, Kuala Lumpur, Malaysia

Please note that while our intention is to handle your claim as quickly as possible, there may be circumstances in which we deem it necessary to request further documents in addition to those mentioned above. In the event this happens, we thank you for your understanding.
 
Q : AIG Malaysia PA Insurance Claim on Accidental Death
A : AIG PA Insurance Claim on Accidental Death

Fully completed Personal Accident & Health Claim Form
Medical report form completed by treating doctor
Detailed post mortem report/ autopsy report or medical report if post mortem report/ autopsy report is not available
Death certificate
Police report and findings on the alleged accident
Driver’s licence (if deceased was driving at the time of accident)
Incident report issued by company (if industrial or work related)
Nominee’s Identity Card (if nominee is stated in the policy) or Claimant’s Identity Card and Proof of relationship (if no nominee is stated in the policy)
Letter of Administration/Distribution Order (if no nominee is stated in the policy or if nominee is below the age of 18 years)
 
Q : AIG Malaysia PA Insurance Claim on Permanent Disablement
A : Fully completed Personal Accident & Health Claim Form
Police report and findings on the alleged accident
Medical Report form completed by treating doctor
All available medical reports or any other document to substantiate the claim
Medical Specialist Report confirming the Permanent Disablement and percentage of disability for assessment done at the end of the specified period in the respective policy
Incident report issued by company (if industrial or work related)
 
Q : MSIG Malaysia PA Insurance Claim
A : MSIG Malaysia PA Insurance Claim

Compensates you
In the event of death or injury as a result of an accident.
General Claims Guidelines
Notify MSIG immediately for any event that may give rise to a claim under the policy.
Complete and submit the Claim Form to MSIG as soon as possible together with the following documents:
For Non-fatal case
Medical Report
Original Medical Bills and Receipts
For Fatal case
Copy of Police Report
Copy of Death Certificate
Copy of Post-mortem Report
Burial Certificate
Letter of Administration


FAQ

1. Are medical expenses involving Chinese physicians covered?

Yes, the policy covers Chinese physician/bonesetter expenses up to a maximum of RM250 per consultation.



2. What are the exclusions under the policy?

The policy does not cover:

Sickness or disease, or gradual physical and mental wear and tear
Certain types of hazardous activities such as parachuting, hang gliding and racing other than on foot.
Events arising from war, terrorism, suicide, intentional self-injury, pregnancy, childbirth, pre-existing physical or mental defects or drug.
HIV and/or HIV related illness including AIDS.
(Full details are contained in the Personal Accident Policy)
 

Home Insurance Claim

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Q : MSIG Malaysia Home Insurance Claim
A : MSIG Malaysia Home Insurance Claim

Covers you against
Loss/damage to the buildings caused by the insured perils mentioned in the policy (Houseowner (Building) Insurance)
Loss/damage to the contents in the premises caused by the insured perils mentioned in the policy (Householders (Contents) Insurance/All-In-Home Insurance)
General Guidelines on Claims
In the case of theft, report to the Police immediately. Obtain a copy of the Police Report.
In the case of fire, notify the Fire Brigade immediately. Obtain a copy of the Fire Brigade's Report.
Notify MSIG immediately after the incident. Describe the time, date, extent and cause of the loss or damage.
Complete the Property Insurance Claim Form with full details and return to MSIG as soon as possible together with the relevant documents. If the loss is minor, provide photographs showing the cause and extent of the loss or damage. Adjusters will be appointed for large losses.
Documents required
A full list of the destroyed or damaged or lost items
Original purchase invoices of the destroyed, damaged or lost items, if available
Two repair or replacement quotations of the damaged or lost items for assessment and comparison
Technical Report (if item struck by lightning)
Police Report (in case of theft)
Fire Brigade Report (in case of fire)
Do not discard, remove or commence any repair works of the destroyed or damaged items without receiving MSIG's approval.


Theft Claim
1. If I only have Houseowner (Building) Insurance, what can I claim in the event of theft?

You can claim for costs of repair to the damage to the building as a result of theft or attempted theft.

2. Is the loss of cash at home covered during theft?

The policy does not cover loss of cash in the event of theft.

3. I have a maid, do you also cover their personal effects?

Yes, if you have a Householders (Content) Insurance policy. The domestic servant must reside in the same house.

4. What if I am leaving the country and my house is left vacant, will my house still be covered?

Yes, to a limit not exceeding 90 days. If the house is left vacant for more than 90 days, you need to inform us and additional premium will be charged accordingly.

5. How are claims for lost items paid?

Lost items are paid in accordance with the current market value at the time of the loss less betterment, if applicable.

6. Does the policy also cover household pets?

No, the policy does not cover household pets.

Fire & Other Damages Claim
1. My TV was struck by lightning. Can I claim under my policy?

Yes, you may submit a claim provided that your policy extends to cover contents.

2. Is the loss of cash at home covered in the event of fire?

The policy does not cover loss of cash in the event of fire.

3. How is the loss of my contents determined in the event of total loss?

In the event of a total loss, a Loss Adjuster will be appointed to assist in assessing the amount of loss.

4. How are claims for damaged items paid?

Damaged items are paid in accordance with the current market value at the time of the loss less betterment, if applicable.

5. Am I able to purchase the Houseowner Insurance if I am renting out the premises?

Yes, you can.

6. If the house I rented out is deemed to be uninhabitable as a result of a fire or flood event, am I able to claim for the loss of rent?

Yes, you are able to do so if the house is rendered uninhabitable. The limit of compensation is not to exceed in the aggregate 10% or up to the limit as endorsed on the total sum insured on building and/or contents.

7. What about the damage to my vehicles parked in my driveway?

The policy does not cover vehicles. Please refer to your Motor Insurance Policy.

All-In-Home Insurance Claim
1. What are Valuables and how much are they covered for?

Valuables refer to precious metals or precious stones, jewellery, watches, curios and works of art. Each article or item is covered up to RM3,000 and in aggregate is up to 1/3 of the total Sum Insured on contents.

2. Do I need to provide lists of home contents to be insured?

You do not need to do so. There are however specific limits applicable.

3. How do I compute my home contents Sum Insured?

The Sum Insured should represent the full value of your home renovations, household contents and personal belongings to you and your family members who are permanently residing with you at current day values.

4. If I already have other personal accident policy, will I be entitled for the similar benefits under this policy in the event of an accidental death or total permanent disablement?

Yes, you will be paid on top of your other personal accident policies.

5. In the event of a fire, is fire brigade charges incurred in obtaining the report payable?

Yes, the amount payable for fire brigade charges is on reimbursement basis, subject to a limit of RM500.00.

6. Is the policy extended to cover personal belongings and effects such as shoes or bicycles etc. which kept outside the premises but within the compound?

Yes

7. What are the claims documents required to qualify for the burglary/ robbery harm allowance?

Police report on the incident and the medical certificate of at least 1 day sick leave, granted and issued by medical practitioner.
 
Q : AIG Malaysia Home Insurance Claim
A : AIG Home Insurance Claim

4 easy steps to make a claim

Step 1 : Notify AIG Malaysia immediately after the incident
Call us at 1800 88 8811
or
Complete Claims Notification Form and email it to AIGMYCare@aig.com
Step 2 : Complete the relevant additional incident form
a. Personal Accident Claim Form, in the event of fatal injury due to burglary/robbery.

Step 3 : Attached all relevant supporting documents
a. Certified true copy of police report & investigation results, details of insured and other household member's home content policy
b. Photographs depicting point of forcible entry and place where stolen items were placed before loss
c. Historical purchase bills / warranty cards, repair / replacement bills
d. Original medical receipts for treatment of injury, medical report from attending practitioner, death certificate, burial permit, post mortem report and medical report for Total Permanent Disablement (in the event of accidental death & disablement)

Note: We may request for additional documents depending on nature of the claim.
Step 4 : Submit all the above to AIG Malaysia within 30 days of incident
Mail to the following address:

Level 18, Menara Worldwide,
198 Jalan Bukit Bintang,
55100, Kuala Lumpur, Malaysia

Please note that while our intention is to handle your claim as quickly as possible, there may be circumstances in which we deem it necessary to request further documents in addition to those mentioned above. In the event this happens, we thank you for your understanding.

For further inquiries related to claims, please call us at 1800 88 8811 or email to AIGMYCare@aig.com
 

Medical Insurance Claim

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Q : AIG Malaysia Medical Insurance Claim on reimbursement claim
A : 3 easy steps to make a claim

Step 1 : Notify AIG Malaysia immediately after the incident.
Call us at 1800 88 8811
or
Complete Medical Claims Form and email it to AIGMYCare@aig.com

Step 2 : Get ready the relevant basic supporting documents as below:
(a) Medical report form completed by treating doctor
(b) Copy of Hospital Billing Statement
(c) Original Medical or Payment Receipts

Note : We will request for additional documents depending on nature of the claim.
Step 3 : Submit all the above to AIG Malaysia within 30 days of incident
Level 18, Menara Worldwide,
198 Jalan Bukit Bintang,
55100, Kuala Lumpur, Malaysia

All claims will be paid to you.
- In the event of death, claims will be paid to your nominee or estate.

Please note that while our intention is to handle your claim as quickly as possible, there may be circumstances in which we deem it necessary to request further documents in addition to those mentioned above. In the event this happens, we thank you for your understanding.
 
Q : MSIG Malaysia Healthcare Insurance Claim
A : MSIG Malaysia Healthcare Insurance Claim Guidelines

Covers you against
Eligible medical and hospital expenses incurred as a direct result of an accident or a covered illness.
General Claims Guidelines
On Reimbursement Basis:
Notify MSIG immediately for any event that may give rise to a claim under the policy
Complete the appropriate claim form (s) and submit to MSIG within 30 days of discharged:
Pre- Authorisation Form
Critical Illness (if applicable) - please contact MSIG Claims Department
Provide originals of all relevant documents and bills/receipts
The attending doctor must complete all questions in Section II of the Pre-Authorisation Form, rubber stamp and sign it.
Hospitalisation Claims On Payment Guarantee Arrangement : (Subject to your claim being covered by the policy and applicable to admission to Panel Hospital only)
Applicable if you have MSIG Assist Card
Contact MSIG Assist 24-hour Hotline at 603-7628 3980
Verification on the validity of the policy is required
Completed claims details must be made available to the MSIG Assist Centre
General Claims Guidelines for Emergency Medical Evacuation (applicable to Healthcare International Premier and Golden Premier plans only)
Contact MSIG Assist 24-hour Hotline at 603-7628 3980
The co-ordinating doctors at MSIG Assist Centre will decide on the method and destination for the evacuation. Decision are made strictly on medical grounds
War zones and the likes are excluded
 

FOREIGN WORKER INSURANCE SCHEME

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Q : Foreign Worker Insurance Guarantee FWIG Malaysia Kuala Lumpur
A : Why do I need FWIG?

Mandatory cover for your foreign worker

Taking good care of your workers will ensure the smooth running and success of your business operations. MSIG Foreign Worker Insurance Scheme, will take care of the needs of your foreign workmen while protecting your business from disruptions in the event of illnesses or accidents.

Foreign Worker Insurance Guarantee (FWIG)

Foreign Worker Insurance Guarantee is a guarantee required by Immigration Department under Regulation 21 of the Immigration Regulations from Employers as a security deposit for the employment of foreign workmen in various sectors.

In the event that any of the foreign workman(men) is/are to be repatriated to their home country, this insurance serves as a guarantee to the Director General of Immigration Department up to the maximum aggregate sum of the guarantee value.

The Insurance Guarantee offered under this scheme does not include foreign maids.
 
Q : Foreign Worker Compensation Scheme FWCS Malaysia Kuala Lumpur
A : Foreign Worker Compensation Scheme (FWCS)

Mandatory cover for your valuable asset

Taking good care of your workers will ensure the smooth running and success of your business operations. MSIG Foreign Worker Insurance Scheme, will take care of the needs of your foreign workmen while protecting your business from disruptions in the event of illnesses or accidents.

Foreign Worker Compensation Scheme (FWCS)

The Workmen’s Compensation Act 1952 was amended in August 1996. Under Section 26(2) of the Amended Act, it is mandatory for every employer to insure all the foreign workmen employed by him under an Approved Insurance Scheme in respect of any liability he may incur under the Workmen’s Compensation Act 1952.

Any employer who fails to insure the foreign workmen under the Approved Insurance Scheme is guilty of an offence and shall be liable, on conviction, to a fine not exceeding RM20,000 or to imprisonment for a term not exceeding two years or both.
 
Q : Foreign Worker Hospitalisation & Surgical Scheme FWHSS Malaysia Kuala Lumpur
A : Foreign Worker Hospitalisation & Surgical Scheme FWHSS

Mandatory cover for your valuable asset

Taking good care of your workers will ensure the smooth running and success of your business operations. MSIG Foreign Worker Insurance Scheme, will take care of the needs of your foreign workmen while protecting your business from disruptions in the event of illnesses or accidents.

Foreign Worker Hospitalisation & Surgical Scheme (FWHSS)

In view of increasing Hospital and Surgical charges, this Scheme is specially designed to reduce the financial burden of the Employers of foreign workers in the event of hospital admission of their foreign workers due to accident or illness.
 

MSIG Malaysia Insurance Company Profile

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Q : Who is MSIG Malaysia Insurance
A : With industrialisation of Malaysia, movement of cargo and related service is vital for business to succeed. Marine Insurance undeniably plays an important role to provide insurance cover from “door to door”. Hence “one stop” Insurers like MSIG provides not only comprehensive insurance coverage but expertise as well as professional claim services.

Did You Know.........

MSIG Malaysia Insurance
Goods should be purchased on FOB/CFR/Ex Works terms and coverage up to their “door” hence any misfortune that can cause loss or damage to the goods is covered locally at MSIG. In addition double taxation benefit enables him to reduce his overheads as far as insurance premiums are concerned.

MSIG is Malaysia's largest Marine Cargo insurance provider. The following case highlights what can go wrong and how MSIG provides coverage and professional claims services to clients.

A consignment of expensive raw material was imported by air. On arrival, when the cargo was being cleared and loaded to deliver to the customer’s premises, a gang of robbers struck. Armed and dangerous, they overpowered the security personnel and fled with the cargo. The whole consignment was lost and the customer not only lost the goods but also the business opportunity which is irreplaceable.

Fortunately, insurance coverage was arranged here in Malaysia, the client submitted the claims with MSIG who promptly settled the claim. The client recovered their losses to enable them to minimise any business opportunity lost. Confidence in MSIG enabled them to continue their business with no interruption caused by such unexpected incident.

Why do people choose MSIG ?

MSIG's international global network of over 200 survey and settling agents around the world, enable claims for your overseas cargo shipped administered overseas.

Why do I need MSIG marine cargo insurance?

As of December 2014, MSIG is 1st in Marine Cargo

Protect your cargo anywhere across the globe

Whether importing, exporting or simply moving cargo, your own or somebody else’s, it is important that it reaches the destination safely. But during transit, via air, sea and land, your goods are exposed to numerous risks, and the financial consequences can really set you back.

MSIG caters to importers and exporters needs and customise them according to your requirements.

Steer your goods safely

The MSIG Marine Insurance policy offers a wide choice of covers with cost saving competitive rates. It has a fast and efficient policy processing and claims handling system, in addition to the loss prevention and risk management services.

MSIG’s has an extensive global network of over 200 survey and settling agents which means we can handle shipments to and from every part of the world.
 

LIABILITY INSURANCE

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Q : LIABILITY INSURANCE MALAYSIA KUALA LUMPUR
A : Comprehensive General Liability

The policy indemnifies the insured for all sums which the Insured becomes legally liable to pay as compensation in respect of bodily injury or property damage as a result of a loss happening in connection with the business of the insured.

This Policy is similar to Public Liability. It is a broader form of coverage which can be extended to include additional coverage like principal existing property, excess automobile coverage and contractual liability.


Director's and Officer's Liability

The policy protects directors and officers from loss resulting from claims made against them in the discharge of their duties on behalf of the company.

Directors and officers today are facing heavier responsibilities and more stringent regulatory requirements. They need the assurance of cover to help protect them against the financial burden of litigation, damage to their reputation and loss of personal assets.


Management Liability
The policy will pay on behalf of the Insured any loss which the Insured is legally liable to pay by reason of any claim for a wrongful act committed or allegedly committed by the Joint Management Body (JMB) or its committee in their capacity as such.

The individual committee members of JMB are not remunerated and yet attach with liabilities. The Body may sue and be sued in its name. This hybrid policy – management liability and professional liability, provides peace of mind to the committee.


Products Liability

The policy indemnifies the insured against all sums which the insured shall become legally liable in respect of bodily injury or illness of any person, loss or damage to property caused by defects in the insured products.

Whether you are a manufacturer, distributor, or retailer, if the products that you sell, supplied, installed, repaired or altered cause injury to a person or damage to their property, you could be liable to pay for any compensation costs. Product liability would cover those costs, helping you to avoid what could be considerable expense to your business.

Public Liability

The policy indemnifies the insured against all sums, which the insured is legally liable for accident caused by or through any negligent act of the insured or person in his employment during the course of his business.
 
Q : Golfer's Insurance Malaysia Kuala Lumpur
A : Golfer's Insurance

This insurance covers the insured’s legal liability to pay compensation for damage to property of or bodily injury to Third Parties (excluding member of Insured's family or household or person(s) in his service) arising from accident caused by the Insured whilst playing or practising Golf at any recognised Golf Course and including any litigation costs.

It also covers the Insured:-



In the event of death and proportionately for disablement as a direct result of any accident occurring whilst the Insured is playing Golf.
Against accidental damage or breakage of the Insured's Golf Club whilst in the course of play or practice.
A payment of RM 1,000 will be made to the Insured for achieving a ‘Hole-In-One’.
 

FIDELITY GUARANTEE INSURANCE

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Q : FIDELITY GUARANTEE INSURANCE MALAYSIA KUALA LUMPUR
A : Fidelity Guarantee Insurance

This insurance provides coverage to the employer against pecuniary loss sustained as a result of a dishonest act of an employee. Such pecuniary loss may include misappropriation of fund or stock, theft of properties or abscondment of money by employee resulting in direct financial loss to the Employer.

Some of the major exclusion under policy includes unexplained losses and loss discovered after the discovery period.

This policy can be arranged on all employees, employee by category or named employee basis.
 

MOBILE EQUIPMENT INSURANCE

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Q : MOBILE EQUIPMENT INSURANCE MALAYSIA KUALA LUMPUR
A : Mobile Equipment Insurance

This insurance provides coverage to the Insured against loss or damage to mobile equipments arising from or due to :

accidental collision or overturning,
fire, external explosion, self ignition, lightning,
burglary or theft
impact damage provided no flood, typhoon, hurricane, storm, earthquake and/or other convulsion of nature is involved.
Coverage also includes towing charges up to a maximum amount of RM500.00 on each and every occurrence.

Some of the major exclusion under the Policy includes wear and tear, depreciation, manufacturing defects, illegal activities, war and terrorism.

This insurance is suitable for mobile equipment such as forklift, excavator, crawler crane and other similar equipments.
 

ALL RISKS INSURANCE

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Q : ALL RISKS INSURANCE MALAYSIA KUALA LUMPUR
A : All Risks insurance

This insurance provides coverage to the Insured against loss or damage to the property insured arising from causes such as:

Fire and lightning
Theft including burglary, robbery or armed robbery or held up
Accidental damage by external means
Flood, earthquake, subsidence and landslip, explosion and any other causes not specifically excluded under the policy.
Some of the major exclusion includes wear and tear, manufacturing defects, rust, vermin, act of fraud or dishonesty of any employee, war and terrorism.

This insurance is suitable for properties such as office equipment, plant and machinery as well as furniture, fixtures and fitting.
 

PLATE GLASS INSURANCE

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Q : PLATE GLASS INSURANCE MALAYSIA KUALA LUMPUR
A : Plate Glass Insurance

This insurance provides coverage to the Insured against breakage of plate glass on the premises as a result of unforeseen incident of misfortune.

This may include breakage of glass including writing or ornamentation (provided it is specifically insured) against fire, impact damage, malicious damage, storm tempest or any other causes not specifically excluded under the Policy.

The Policy may be arranged on a first loss basis but premium is calculated on the full sum insured of plate glass.

Some of the major exclusion under the Policy includes breakage whilst the premises is on alteration, renovation or repairs, any consequential loss, war and terrorism.
 

GOODS IN TRANSIT INSURANCE

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Q : GOODS IN TRANSIT INSURANCE MALAYSIA KUALA LUMPUR
A : Goods in Transit Insurance

The insurance under this policy are normally designed to provide cover against loss or damage to your goods during the course of transit by land conveyance in Malaysia. Cover may be extended to allow shipments to and from Singapore. Cover may also be arranged on “All Risks" basis or more restricted to suit your requirement.
 

MARINE HULL INSURANCE

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Q : MARINE HULL INSURANCE MALAYSIA KUALA LUMPUR
A : Marine Hull Insurance

Apart from marine cargo insurance, we also provide cover for loss or damage to ships. This would include tugs and barges as well as pleasure crafts or yachts. The insurance is normally arranged on “time basis" with duration of cover for twelve months. Similar to the cargo clauses, there are several hull clauses being available for insured’s selection.

Hull clauses do not provide “All Risks" cover but specifically state the risks being covered under these clauses for example fire or explosion; perils of sea, rivers, lakes or other navigable waters; jettison; earthquake, volcanic eruption and lightning etc. The cover also indemnifies the shipowner in respect of liability arising from collision at sea.
 

ENGINEERING INSURANCE

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Q : Boiler Insurance Malaysia Kuala Lumpur
A : Boiler Insurance

This insurance covers loss of or damage to the Insured Boiler and/or Pressure Vessel caused by explosion or collapse. Liability of the Insured for damage to third party property or injury to persons as a result of such explosion or collapse may also be covered.

The sum insured should always be the new replacement cost of the Insured machinery including freight, custom duties and installation charges.

Some of the major exclusions of this insurance are Fire, and convulsions of nature as well as the effects of wear and tear.
 
Q : Civil Engineering Completed Risk (CECR) Insurance Malaysia Kuala Lumpur
A : Civil Engineering Completed Risk (CECR) Insurance

The CECR Insurance covers against any unforeseen and sudden physical loss or damage to insured property caused by the following specified perils:

Fire, lightning, explosion, impact of landborne or waterborne vehicles,
Impact of aircraft and other aerial devices or articles dropped therefrom,
Earthquake, volcanism, tsunami,
Storm (air movements stronger than grade 8 on the Beaufort Scale)
Flood or inundation, wave action or water,
Subsidence, landslide, rockslide or any other earth movement,
Frost, avalanche, ice,
Vandalism of single persons
 
Q : Contractor's All Risks Insurance Malaysia Kuala Lumpur
A : Contractor's All Risks Insurance

Section 1 – Material Damage
This Section of the Policy covers the Insured against any sudden and unforeseen physical loss or damage to the construction works from any cause other than those specifically excluded.

Section 2 – Third Party Liability

This Section of the Policy covers the Insured against any sums which the Insured shall become legally liable to pay as damages consequent upon:

a. accidental bodily injury or illness to third parties
b. accidental loss of or damage to property belonging to third parties

occurring in direct connection with the construction works and happening on or in the immediate vicinity of the site during the period of insurance.

The Insurer will in addition indemnify the Insured against:
a. all costs and expenses of litigation recovered by any claimant from the Insured, and
b. all legal cost and expenses incurred with the written consent of the Insurer.
 
Q : Deterioration of Stock in Cold Storage Insurance Malaysia Kuala Lumpur
A : Deterioration of Stock in Cold Storage Insurance

This Insurance covers the Insured against loss or damage to perishable goods due to the following:-

a. changes in cooling temperature due to:-
i. breakdown of the refrigerating apparatus at the premises
ii. damage to the apparatus by any accidental cause

b. unforeseen and sudden escape of refrigerants in the cold-storage rooms in the case of controlled atmosphere storage or an incorrect composition of the storage temperature.

which results from any material damage to the refrigeration plant which is indemnifiable under the accompanying Machinery Breakdown policy, covering such refrigeration plant.
 
Q : Electronic Equipment Insurance Malaysia Kuala Lumpur
A : Electronic Equipment Insurance

Section 1 - Material Damage
This Section of the Policy provides cover against any unforeseen and sudden physical loss of or damage to the Items insured during the period of insurance, from any cause other than those specifically excluded. This insurance covers the cost entailed for repair or replacement of equipment after loss or damage.

Section 2 - External Data Media
This Section of the Policy provides cover for both the material value of the external data media and the cost of reprocessing and restoring lost information after loss or damage.

Section 3 - Increased Cost of Working
This Section of the Policy indemnifies the Insured in respect of additional costs necessary to maintain working procedures after a physical loss or damage which are indemnifiable under Section 1 and/or 2 of the Policy.

This insurance is specially designed to cover all computers, PABX system, Building Intelligence System, and all other electronic equipment.

The Sum Insured for Section 1 - Material Damage must always be the replacement value of the electronic equipment (ie. Value of the new item plus custom duties, transportation and freight charges and installation charges).
 
Q : Employer's Liability Insurance Malaysia Kuala Lumpur
A : Employer's Liability Insurance

The policy indemnities the Insured against their legal liability in respect of death or bodily injury or illness to the insured’s employees arising out of and in the course of their employment with the Insured.

In addition, the policy will pay all legal costs and expenses incurred with the Insurer’s consent up to the Limit of Indemnity of the policy.
 
Q : Erection All Risks Insurance Malaysia Kuala Lumpur
A : Erection All Risks Insurance

Section 1 – Material Damage
This Section of the Policy covers the Insured against any sudden and unforeseen physical loss or damage to the erection works from any cause other than those specifically excluded.

Section 2 – Third Party Liability
This Section of the Policy covers the Insured against any sums which the Insured shall become legally liable to pay as damages consequent upon:

a. accidental bodily injury or illness to third parties
b. accidental loss of or damage to property belonging to third parties

occurring in direct connection with the erection works and happening on or in the immediate vicinity of the site during the period of insurance.

The Insurer will in addition indemnify the Insured against:

c. all costs and expenses of litigation recovered by any claimant from the Insured, and
d. all legal cost and expenses incurred with the written consent of the Insurer.
 
Q : Machinery Insurance Malaysia Kuala Lumpur
A : Machinery Insurance

This insurance covers the Insured against unforeseen and sudden physical loss of or damage to Insured machinery arising from causes such as;

(1) defects in casting and material
(2) faulty design
(3) faults at workshop or in erection
(4) bad workmanship
(5) lack of skill
(6) carelessness
(7) shortage of water in boilers
(8) physical explosion
(9) tearing apart from centrifugal force
(10) short-circuit
(11) storm

or any other cause not specifically excluded.

The sum insured should always be the new replacement value of the Insured machinery and should also include the cost of freight, custom duties and installation charges related to the machinery.

Some of the major exclusions of this insurance are Fire, Lightning, Explosion, Burglary, Flood etc., ie. perils covered or coverable under Fire and All Risks policies.
 
Q : Machinery Loss of Profits Insurance Malaysia Kuala Lumpur
A : Machinery Loss of Profits Insurance

This insurance covers the Insured against consequential loss as a result of damage caused by any of the perils covered under the Machinery Insurance policy.

In particular, the insurance covers the loss of gross profit due to:

(1) reduction in turnover, and
(2) increase in cost of working

during the Period of Insurance, as a result of interruption of business in consequence of the damage.
 
Q : Storage Tank Insurance Malaysia Kuala Lumpur
A : Storage Tank Insurance

Section 1 – Material Damage
This insurance covers the Insured against loss of or damage to storage tanks due to accidental damage to the tanks caused by bursting, splitting, rupture, collapse or similar fortuitous event caused not hereinafter excluded by policy.

Section II – Loss of Contents
This insurance covers the Insured against loss of Contents of the specific tanks following loss or damage which are indemnifiable under Section I - Material Damage.

Major Exclusions of the Policy are loss of or damage due to:-

Fire lightning, explosion, storm tempest, flood, subsidence, earthquake, aircraft or other aerial devices or articles dropped there from or other movement of displacement.
Loss by seepage, evaporation or any normal trade loss.
Damage to steam or hot water coil heaters by cracking or fracturing or weld failure of electric immersion heaters.
Wear and tear
 
Q : Workmen's Compensation Insurance Malaysia Kuala Lumpur
A : Workmen's Compensation Insurance

The policy indemnifies the Insured against their liability under the Workmen’s Compensation Ordinance and at Common Law in respect of death or bodily injury or illness to the insured employees arising out of and in the course of their employment with the Insured.

In addition, the policy will pay all legal costs and expenses incurred with the Insurer’s consent up to the limit of Indemnity of the policy.
 
Q : Performance Bond Insurance
A : Performance Bond Insurance

Performance Bond
The performance bond provides guarantees to the Principal of a project that they will be financially compensated as a result of failure of the Insured to complete the project as per terms of the contract.

Normally it is a requirement by the principal of the project for the Insured to present them with a performance bond either in form of insurance or bank guarantee once a project is awarded to the Insured.

The performance bond is only provided to the Insured to complement the related projects insurance for the same project such as contractor all risks, erection all risks and workmen compensation.

Advance Payment Bond
The advance payment bond provide guarantees to the Principal of a project that they will financially compensated as a result of failure to recoup the advance money paid to the Insured as per terms of the contract.

This bond is only provided to the Insured who exercise its option to take up advance money for a government project and to complement the related projects insurance for the same project such as contractor all risks, erection all risks and workmen compensation.
 

HOME INSURANCE

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Q : HOME INSURANCE MALAYSIA KUALA LUMPUR
A : Houseowner's Insurance (on building)

This is a packaged policy that covers the buildings/contents of private dwelling against fire and other perils. It also provides cover for the owner against legal liability to the Public for accidents caused by defect in the buildings.

This policy covers the loss of or damage to the building and/or contents of residential houses, flats and condominiums by:

Fire, lightning, thunderbolt, subterranean fire
Explosion
Aircraft and other aerial devices and / or articles dropped therefrom
Impact by any road vehicles or animals not belonging to or under the control of the Insured or any member of his family
Bursting or overflowing of domestic water tanks, apparatus or pipes
Theft but only if accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat
Hurricane, cyclone, typhoon, windstorm
Earthquake, volcanic eruption
Flood but excluding loss or damage caused by subsidence or landslip
Section I Buildings
Section II Household contents:-
Loss or Damage to Contents
Property Temporarily Removed
Damage to Mirrors by breakage (excluding hand mirrors)
Compensation for Death of the Insured provided death occurs within 3 calendar months of injury
Servants' Property
Section III (A) Loss of Rent if dwelling is rendered uninhabitable
Section III (B) Liability to the public up to RM50,000

The basic premium is calculated based on a standard fire tariff rate and is affected by the type of building (detached, non-detached, flats or apartment), construction classification of the building.

The policy can be extended, by additional premium, to cover loss of or damage to property caused by:

Riot Strike and Malicious Damage
Subsidence and Landslip
Full Theft
The sum insured for the building is based on the cost of reconstruction of same quality and not the market value of the property.


Householder's Insurance (on contents)

This is a packaged policy that covers the buildings/contents of private dwelling against fire and other perils. It also provides cover for the owner against legal liability to the Public for accidents caused by defect in the buildings.

This policy covers the loss of or damage to the building and/or contents of residential houses, flats and condominiums by:

Fire, lightning, thunderbolt, subterranean fire
Explosion
Aircraft and other aerial devices and / or articles dropped therefrom
Impact by any road vehicles or animals not belonging to or under the control of the Insured or any member of his family
Bursting or overflowing of domestic water tanks, apparatus or pipes
Theft but only if accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat
Hurricane, cyclone, typhoon, windstorm
Earthquake, volcanic eruption
Flood but excluding loss or damage caused by subsidence or landslip
Section I Buildings
Section II Household contents:-
Loss or Damage to Contents
Property Temporarily Removed
Damage to Mirrors by breakage (excluding hand mirrors)
Compensation for Death of the Insured provided death occurs within 3 calendar months of injury
Servants' Property
Section III (A) Loss of Rent if dwelling is rendered uninhabitable
Section III (B) Liability to the public up to RM50,000

The basic premium is calculated based on a standard fire tariff rate and is affected by the type of building (detached, non-detached, flats or apartment), construction classification of the building.

The policy can be extended, by additional premium, to cover loss of or damage to property caused by:

Riot Strike and Malicious Damage
Subsidence and Landslip
Full Theft
The sum insured for the building is based on the cost of reconstruction of same quality and not the market value of the property.
 

Lonpac Insurance Berhad Company Profile

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Q : Who is Lonpac Insurance Berhad ?
A : Lonpac Insurance Bhd

Lonpac Insurance Bhd (Lonpac), a wholly owned subsidiary of LPI Capital Bhd, was incorporated in Malaysia on 12 July 1994. It commenced underwriting of general insurance business after a rationalisation scheme on 1 May 1999. The paid-up capital of the Company is RM200,000,000 comprising of 200,000,000 ordinary shares of RM1.00 each.

The Company operates through 21 branches in Malaysia and a foreign branch in Singapore to serve the clients better.

In September 2005, the Malaysian Rating Corporation Berhad (MARC) has reaffirmed the general insurance strength rating of Lonpac at "AA", reconfirming its financial stability and reliability in the insurance industry.

In October 2015, the A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Lonpac. The ratings acknowledge Lonpac's excellent operating performance and strong business profile. Risk adjusted capitalisation as measured by Best's Capital Adequacy Ratio has strengthened on the back of lower underwriting leverage.

LPI Capital Bhd

LPI Capital Bhd (LPI), formerly known as London & Pacific Insurance Company Berhad, is an investment holding company. After a rationalisation scheme, LPI transferred its entire insurance business to its wholly-owned subsidiary Lonpac Insurance Bhd on 1 May 1999 and at the same time changed its name from London & Pacific Insurance Company Berhad to LPI Capital Bhd.

The Company was incorporated on 24 May 1962 as a private limited company and was registered as an approved insurer on 9 April 1963 under the Malaysian Insurance Act, 1963. The shares of LPI were also listed on the Second Board of the Kuala Lumpur Stock Exchange (KLSE) on 8 January 1993 and were subsequently transferred to the Main Board of the KLSE (now known as Main Market of Bursa Malaysia Securities Berhad) on 17 January 1997. The issued and paid-up capital of the Company is RM331,985,808 comprising of 331,985,808 ordinary shares of RM1.00 each.
 

Marine Insurance Claim

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Q : Lonpac Marine Insurance Claim
A : Lonpac Marine Insurance Claim

Claim Bill
Invoices
Bill of Lading
Packing list
Original Marine Policy/Certificate
Inward/Outward Survey Report, if any
Reply from Carriers
Reply from Port Authority
Photographs depicting the damaged goods
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Fidelity Guarantee Insurance Claim

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Q : Lonpac Fidelity Guarantee Insurance Claim
A : Lonpac Fidelity Guarantee Insurance Claim

Completed claim form
Police report
Particulars of employees such as employment contract, NRIC, salary slip
Audit report
Accounting records to reconcile loss
Banking records, if applicable
Standing instruction documents e.g. banking procedures
Other evidence of misappropriation, e.g. CCTV recording
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Public Liability Insurance Claim

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Q : Lonpac Public Liability Insurance Claim
A : Lonpac Public Liability Insurance Claim

Completed Claim form
Any contract signed between Insured and Third Party
Police report/photographs
Medical report/post mortem report (for fatal injury claim)
Repair bills/quotation for property damage
Consultant's report on cause/nature/extent of damage
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Contractor All Risk Insurance Claim

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Q : Lonpac Contractor All Risk Insurance Claim
A : Lonpac Contractor All Risk Insurance Claim

(A) For material damage claim
Completed claim form
Police report
Repair/replacement bill/quotation/delivery orders/stock records
Contract documents, including bill of quantities and scope of work, letter of award
Photographs of the damaged item(s)
Consultant's or internal report on the cause and extent of damage
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
(B) For Third Party Liability claim

Completed claim form
Police report
Incident report
Repair bills/quotation for property damage claim
Photographs of the damaged item(s)
Consultant's report on the cause/ nature extent of damage
Medical report / Death certificate / post mortem report (for Fatal & injury claim)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Workmen Compensation Insurance Claim

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Q : Lonpac Workmen Compensation Insurance Claim
A : Lonpac Workmen Compensation Insurance Claim

Completed claim form
Medical report and medical leave chits
Original medical bill and receipt
Wages records of the worker for the 6 months prior to the accident
Photographs depicting the injury sustained (For Total Permanent Disability Claim)
Copy of the post mortem report (For Death claim)
Copy of the police report (for Death Claim)
Copy of the Death Certificate (for Death Claim)
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Foreign Worker Insurance Claims

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Q : Foreign Worker Insurance Claims on FWCS Insurance Claim
A : Foreign Worker Insurance Claims on FWCS Insurance Claim

Temporary Disablement Claim

Completed claim form
Copy of the Medical Report (Borang Buruh 90) And/ or Medical Leave Chits.
Original Medical Bills and Receipts
Labour Assessment
Duly signed & completed Electronic Credit Payment (ECP) form

Fatal Claim

Completed Claim Form
Copy of the Death Certificate
Copy of the Police Report
Copy of the Post Mortem Report
Bills to substantiate the Repatriation Expenses Incurred
Airway bill to transport the remains back to the country of origin
Labour Assessment
Duly signed & completed Electronic Credit Payment (ECP) form
 

Money Insurance Claim

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Q : Lonpac Money Insurance Claim
A : Lonpac Money Insurance Claim

Completed claim form
Police report
Vouchers/receipt to substantiate the missing cash
Photographs depicting the point of entry or break-in
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Plate Glass Insurance Claim

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Q : Lonpac Plate Glass Insurance Claim
A : Lonpac Plate Glass Insurance Claim

Completed claim form
Replacement or repair bill / invoice / quotation / detailing the description, unit price and amount
Original purchase invoice / bill of the damaged article
Technical report to substantiate the cause of the damage
Photographs depicting the damaged item
Police report
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Burglary Insurance Claim

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Q : Lonpac Burglary Insurance Claim
A : Lonpac Burglary Insurance Claim

Completed claim form
Replacement or repair bill / invoice / quotation / detailing the description, unit price and amount
Original purchase invoice / bill of the damaged / lost article
CCTV Recording
Photographs depicting the point of entry or break-in
Police report
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

All Risks Insurance Claim

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Q : Lonpac All Risks Insurance Claim
A : Lonpac All Risks Insurance Claim

Completed claim form
Replacement or repair bill / invoice / quotation / detailing the description, unit price and amount
Original purchase invoice / bill of the damaged / lost article
Technical report to substantiate the cause of the damage
Photographs depicting the damaged item
Police report
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

Fire / Houseowner / Householder Insurance Claim

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Q : Lonpac Fire / Houseowner / Householder Insurance Claim
A : Lonpac Fire / Houseowner / Householder Insurance Claim

Completed claim form
Replacement or repair bill / invoice /quotation detailing the description, unit price and amount
Original purchase invoice / bill of the damaged article
Photographs depicting the damaged items
Technical report to substantiate the cause of the damage
Police report
Fire brigade report
A copy of Insured's NRIC (For individual)
A copy of Insured's Business Registration (For company)
Duly signed & completed Electronic Credit Payment (ECP) form
 

BURGLARY INSURANCE

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Q : BURGLARY INSURANCE MALAYSIA KUALA LUMPUR
A : BURGLARY INSURANCE
Burglary Insurance is designed to indemnify the Insured against the risk of loss or damage to the insured property as a result of theft.

A burglary policy basically provides the following coverage :-

i. Loss by theft accompanied by actual forcible and violent entry and/or exit of building.

ii. Damage to the property insured or to the premises as result of theft or any attempt thereat.

There are basically two different ways of rating a burglary risk, namely on Full Value or First Loss basis.

Full Value Policies

This basis is adopted when there exist a possibility of the entire property insured being stolen at any one time. The rate to be applied shall be on the full value of the property to be insured.

Care must be taken to ensure that the sum insured is adequate as the burglary insurance will be subjected to the Average Clause and the Insured will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what the Proposer considers to be the highest value at risk at any one time.

First Loss Policies

This basis is adopted in cases when it is practically not possible for the entire property insured to be stolen at the same time.

The rates shall be on the selected sum insured amount which in the Insured’s opinion would represent the maximum potential loss at any one time.

The sum insured selected should, based on the Insured’s own assessment, not be less than the anticipated maximum probable single loss during a burglary but in no event should it be less than 25% of the total value of the Property Insured.

The Proposer is required to declare the full value at the risk of the Property Insured and the sum insured proposed for the burglary insurance. Average clause will apply to the burglary loss should the actual full value at risk be more than the value declared.

*Hold-Ups may be an extension in certain insurance companies’ burglary policy contracts.
 

 
Malaysia Insurance Services, Insurance Services Malaysia
Malaysia Insurance Solution, Insurance Solution Malaysia


BURGLARY INSURANCE

Burglary Insurance is designed to indemnify the Insured against the risk of loss or damage to the insured property as a result of theft.

A burglary policy basically provides the following coverage :-

i. Loss by theft accompanied by actual forcible and violent entry and/or exit of building.

ii. Damage to the property insured or to the premises as result of theft or any attempt thereat.

There are basically two different ways of rating a burglary risk, namely on Full Value or First Loss basis.

Full Value Policies

This basis is adopted when there exist a possibility of the entire property insured being stolen at any one time. The rate to be applied shall be on the full value of the property to be insured. 

Care must be taken to ensure that the sum insured is adequate as the burglary insurance will be subjected to the Average Clause and the Insured will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what the Proposer considers to be the highest value at risk at any one time.

First Loss Policies

This basis is adopted in cases when it is practically not possible for the entire property insured to be stolen at the same time. 

The rates shall be on the selected sum insured amount which in the Insured’s opinion would represent the maximum potential loss at any one time. 

The sum insured selected should, based on the Insured’s own assessment, not be less than the anticipated maximum probable single loss during a burglary but in no event should it be less than 25% of the total value of the Property Insured.

The Proposer is required to declare the full value at the risk of the Property Insured and the sum insured proposed for the burglary insurance. Average clause will apply to the burglary loss should the actual full value at risk be more than the value declared.

*Hold-Ups may be an extension in certain insurance companies’ burglary policy contracts.

 

 

CONSTRUCTION INSURANCE

There are 3 main insurance covers in the construction industry, namely 

1) CONTRACTORS’ ALL RISK INSURANCE

Contractors’ All Risk Insurance is specifically designed to cover the Insured against loss or damage in respect of contract works, construction plant and equipment and/or construction machinery as well as against third party claims in respect of property damage or bodily injury arising in connection with the execution of a building project.

A Contractors’ All Risks policy may be concluded by the principal or by the contractors engaged in a project, including all subcontractors. 

Contractors’ All Risk insurance provides an "all risk” cover – every hazard is covered which is not specifically excluded. 

This means that almost any sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the building site will be indemnified. The most important causes of losses indemnifiable under Contractors’ All Risk insurance are:

a) Fire, lightning, explosion

b) Act of God such as flood, inundation, windstorm of any kind, earthquake etc

c) Theft, burglary

d) Bad workmanship, lack of skill, negligence, malicious acts or human error

 

2) BONDS / INSURANCE GUARANTEE

Bonds, which may be required in almost every sphere of inter-personal and inter-corporation transactions are very wide in scope. It is not a form of insurance business but because of the fact that insurance companies are financial institutions, their bonds are acceptable, hence the involvement of insurance companies in bonding business, particularly those bonds which can generate other classes of insurance business for example, bonds business which is secured together with other project insurances like the Contractors’/Erection All Risks, Public Liability and Workmen’s Compensation insurance.

There are certain peculiar features in Bonds :-

a) A bond once given, cannot be cancelled before its expiry date.

b) All bonds issued to contractors for government projects are demand bonds and are worded in such a way that they can be invoked by the holder of the bond without any reason and explanation. Insurer is obliged to pay upon demand notwithstanding any dispute or protest by the contractor or insurer or any third party.

 

3) WORKMEN’S COMPENSATION INSURANCE

There is a small market for Workmen’s Compensation Insurance and this demand usually comes from :-

a) Contractors who are obliged to arrange such insurance under the conditions of the contract with the Principal. 

b) Employers with foreign workers who are not eligible to contribute to SOCSO but because of (a) above, usually include these workers in their insurance based on the wage roll of 15% of the total contract value. 

It should however be noted that the employer or their sub-contractors are also required under the provision of the Workmen’s Compensation.

This policy is designed to provide cover for any employee in the Insured’s immediate service against injury by accident or disease arising out of and in the course of this employment which his employer is liable to pay for such compensation either under :-

a) The Law (s) set out in the schedule of the policy 

b) Common Law

 

FINANCIAL PLANS

Financial plans are roadmaps to personal financial goals which include financial freedom, early retirement, children’s education, general wealth accumulation and many others. These financial plans will take into account a person’s current assets and liabilities, sources of income, investments and insurance programmes, estate distribution objectives and tax position. 

This information is often collected via a fact finder. Financial advisors are required to ‘know your clients’ financial background and objectives in order to write a practical financial plan to achieve their objectives.

 There are also many clients who may require only single objectives like insurance planning. ACPG provides this through our PolicyCare process which require a fact finder followed by a policy summary before a Statement of Recommendation (SOR) is produced. 

The SOR will report the current situation and make recommendations to address the shortfalls. Our clients will have the option to choose the products. Through the financial plans, our clients are more likely to reach their financial goals successfully.

 

FIRE INSURANCE

Fire Insurance Policy is designed to provide indemnity to the Insured in the event of loss or damage to the property Insured by fire or named Peril as specified in the Policy Schedule. This is a tariff class of insurance ie, the premium rate is fixed by Bank Negara Malaysia.

There are 3 classes of fire insurance for propertied namely domestic, commercial and industrial. Fire insurance for domestic properties include all residential buildings such as terrace houses, bungalows, high-rise apartments and condominiums. Commercial properties include shop houses, complexes and office buildings. Industrial properties include all buildings occupied for industrial purposes.

Fire Insurance can also cover damage to contents of buildings due to fire. Such contents will include personal effects in residential properties, office equipment, furniture & fittings in commercial buildings as well as machineries and equipment in industrial buildings.

The basic Fire Insurance Policy covers loss or damage to the Property Insured caused by:-

a) Fire

b) Lightning

c) Explosion of domestic boiler or domestic gas cylinder not forming part of any gas work

The Fire Policy may be extended to cover loss or damage caused by other named Perils including RSMD, Aircraft & other aerial devices, Earthquake & Volcanic Eruption, Storm Tempest, Flood, Explosion, Impact Damage, Bursting or overflowing of water tanks, Electrical Installation Clause (B) etc.



GROUP EMPLOYEE BENEFIT SCHEMES

Group Employee Benefit Schemes are designed to provide coverage for employees of small businesses or large corporations.

The employee benefits provided usually include

a) Personal Accident cover which provides benefits upon partial/total and /or temporary/permanent disability due to accident.

b) Hospitalisation & Surgical benefits which cover in-patient medical expenses as well as outpatient accidental, cancer or kidney dialysis treatment.

c) Term Insurance which provides lump sum benefits upon death and total permanent disablement.

The employee benefits can be extended to include critical illness cover and retirement funds.

Group Employee Benefit Schemes can be specially customized to meet the requirements of participating companies. Some of the benefits like Personal Accident and Hospitalisation & Surgical may be tax deductible to the corporations or companies if properly designed.

The premiums are usually more attractive than personal policies due mainly to the spread of risk. As such, the premiums are dependent on the number of participating employees, gender distribution and job classification.

Group Employee Benefit Schemes are usually non-contributory, that is, the company pays the full premium. It can also be partial or fully contributory, especially retirement schemes. 

For retirement schemes, it is common to include a vesting clause which helps promote employee retention. Defined contribution schemes are more commonly used for Employee Benefits as the expenes are predetermined and easier to manage compared to Defined Benefit Schemes.

Due to the complexities and the various regulatory requirements, it is advisable to work with insurance advisors who are familiar with the intricacies of the group employee benefit schemes, starting with the objectives or purpose of the group schemes.

 

HOUSEOWNER INSURANCE (BUILDINGS) / HOUSEHOLDER INSURANCE (CONTENTS)

There are 2 types of insurance a houseowner can purchase to insure his premises.

a) Houseowner Insurance is a policy designed to cover the Insured against any loss or damage to the residential buildings caused by Fire and/or Named Perils.

b) Householder’s Insurance on the other hand is designed to cover the Insured against the loss or damage to the contents in residential buildings caused by fire and/or Named Perils.

A standard houseowner/householder policy covers:-

a) Fire, lightning, thunderbolt, subterranean fire.

b) Explosion.

c) Aircraft and other serial devices and/or articles dropped therefrom.

d) Impact with any of the buildings by any road vehicle, houses or cattle not belonging to or under that control of the Insured or any member of his family.

e) Bursting or overflowing of domestic water tank, apparatus or pipes.

f) Theft but only if accompanied by actual forcible and violent breaking into or out of a building or any attempt thereof.

g) Hurricane, cyclone, typhoon, windstorm.

h) Earthquake and volcanic eruption.

i) Flood but excluding loss or damage caused by subsidence and landslip.

Premiums for houseowner polices are usually higher than fire policies due to the more comprehensive cover.

 

 


INVESTMENT-LINKED POLICIES

Investment-linked policies have been in Malaysia for more than a decade. While it takes the form of a life insurance policy providing protection upon death or disablement, it also has an investment component. 

Ordinary life insurance policy funds are invested in various investments including properties, plant & equipment, government papers, private debt securities, foreign assets, loans, as well as stocks and shares. 

Investment-linked funds, on the other hand, are invested basically in stocks and shares as well as fixed income funds.

Ordinary life insurance policies normally have minimum guaranteed cash values which is absent in investment-linked policies. 

The cash values or total investment values is dependent upon the performance of the investment-linked funds. Thus, these values are not guaranteed. 

These funds may be priced singly or with a bid and offer spread. 

Investment-linked policies are more flexible allowing the policyholders to take premium holidays. 

As long as there are cash values, the policies will continue to provide cover. In addition, policyholders may perform partial withdrawals by selling off units when the need arises. Such withdrawals do not attract interest unlike ordinary life policies.

Because of the transparent features, insurance charges are clearly illustrated on a year to year basis according to age increase. As such, protection or coverage may be varied over the lifetime of the policies subject to underwriting. 

Most investment-linked policies will allow the addition of riders to provide a more comprehensive protection, for example, critical illness, medical, and accident riders. The choice of funds may also be varied over time depending on the economic environment.


LIFE INSURANCE

Life insurance is a financial tool designed to transfer life's risks to an Insurer. Commonly, the risks covered include death from natural and accidental causes, as well as total and permanent disability (TPD). Suicide is also covered but subjected to the policy being inforce for more than 12 months.

The premiums of life insurance policies are determined by the mortality experiences of the populace. Cost of management and returns on investments also affect the premiums. The actuary is responsible for managing the life insurance pool.

Generally, there are 3 kinds of life insurance policies:

i. Whole Life which provides death and TPD cover throughout the life of the insured.There is usually a cash value at the end of the day. Whole life policies are usually designed to protect loss of income, provide for trust planning or create an estate.

ii. Endowment which provides death and TPD cover over a limited period of time, eg. 20 years, ending with a maturity value. Endowment policies are often used to set up a fund for retirement, children’s education and others.

iii. Term Life which provides the cover for a limited period or term usually without any cash value. Term Insurance is usually used by corporations to cover their keyman or to cover a loan.

Additionally, there are Critical Illness policies as well as Investment-linked policies.

i. Critical Illness Policies not only cover death and TPD, but also pay out the death proceeds upon diagnosis of one of the 36 critical illnesses. It serves as a lump sum medical fund.

ii. Investment-linked Policies as it is so named, provide investment returns apart from death and TPD cover. The returns of an Investment-linked policy depend on the performance of the investment funds of the insurer.

Various riders may be attached to the Life insurance policies to enhance its coverage. Common riders include Term riders, Critical Illness riders, Waiver of premium riders, Payer Benefit riders or medical and accident riders.

Life Insurance premiums of individual are tax deductible up to RM6,000 including personal EPF contributions. Proceeds of life insurances may be paid to nominees or absolutely assigned depending on the objectives of the purchase.

The administration of Life Insurance policies is under the purview of the Insurance Act 1996. Bank Negara Malaysia oversees the operation of the Life Insurance business by Life Insurers.

 

 

LOANS & MORTGAGES

Loans & Mortgages are used for the purchase of new properties or to refinance existing ones. Various loan packages are available depending on the financial institutions or banks an individual borrows from.

Term loans are commonly used to lock in the interest rates while flexi loans with variable interest rates will allow the borrower flexibility to access the available balance in the loan account.

Interest rates of the loans are mainly dependent on the loan amount as well as borrower profile. The maximum term of the loan is dependent on the entry age of the borrower, usually up to age 70 years.

Financial institutions may have differing preferences for various types of properties such as residential (landed or high-rise), commercial, industrial or land. Eligibility for the loans is subject to the Debt Servicing Ratio (DSR) of the borrower. ( DSR = Debt Instalment ÷ Net Monthly Income )

 

 

MARINE CARGO INSURANCE

This type of insurance indemnifies the Assured against the loss of cargo whilst in transit, usually from a warehouse (of departure) to a warehouse (of arrival) basis caused by a peril insured. The insurance is suitable for shipment by sea or by air and must be arranged before the commencement of the shipment of the insured cargo.

Marine Cargo Insurance policies may be arranged on the following basis :-

a) Marine Open Cover (MOC) Policy

This is a continuous policy that is issued to the Assured commencing from an agreed date and remains in force until cancelled. 

A description of the cargo insured, the maximum upper value limit per shipment and the terms of cover are specified in the policy schedule. 

The MOC provides the Assured automatic coverage for all shipments described in the policy schedule up to the limit specified. Shipments outside the description of the policy schedule are not automatically insured. 

Certificates of Insurance are issued for individual shipments. 

The premium is charged for each shipment based on the terms described in the policy schedule.

b) Single Shipment Policy

This is a single voyage policy for a single shipment of cargo from one place to another. 

The insurance commences from the time the goods leave the shipper’s or seller’s warehouse or place of storage of the consignor and continues until it reaches the Assured’s premises or other final warehouse at the destination named in the policy. 

Single shipment policy is suitable for clients who do not have regular shipments and hence, do not have a Marine Open Cover policy. 

 

c) Annual Policy

This is an Open cover but issued to cover a specific period of time, usually 12 months. 

A provisional or deposit premium is normally charged based on the estimated annual turnover and is adjusted upon expiry based on actual turnover declared. Alternatively, the premium is debited against monthly declaration received.

 

Double Taxation Benefit

The Malaysian Government has allowed a Double Taxation Relief Benefit for payments made for Marine Cargo Insurance provided such insurance is made from a Malaysian insurance company. 

This incentive is allowed for both export and import shipments.

Types of Sales Contracts

a) CIF (Cost Insurance and Freight)

The seller is responsible for all costs of delivering the goods up to the final port of destination. The CIF terms is inclusive of cost, insurance and freight plus a percentage (usually 10%) to cover incidental expenses and/or import duty.

b) C & F (Cost & Freight)

The buyer is responsible to arrange for the insurance. The seller is only responsible for the freight and other charges to deliver the cargo to the port of destination. The C & F Marine Cargo Insurance commences from the time the buyer assumes an insurable interest. 

c) FOB (Free on Board)

The seller is responsible for all costs under an FOB arrangement to deliver the cargo safely on board the ocean going ship and obtain a bill of lading. The buyer is responsible to arrange for the insurance for the shipment of the cargo to the final destination.

Scope of cover

The following are the usual types of coverage offered to the Insured

a) Institute Cargo Clause (ICC) (A) 1.1.82

b) Institute Cargo Clause (ICC) (B) 1.1.82

c) Institute Cargo Clause (ICC) (C) 1.1.82

 

The Policies may be

a) Single Shipment Policy

This is a single voyage policy for a single shipment of cargo from one place to another. Single shipment policy is suitable for clients who do not have regular shipments.

b) Annual Policy

This is an Open cover but issued to cover a specific period of time, usually 12 months. A provisional or deposit premium is usually charged based on the estimated annual turnover and is adjusted upon expiry based on actual turnover declared. Alternatively, the premium is debited against monthly declaration received.

Double Taxation Benefit

The Malaysian Government has allowed a Double Tax Relief Benefit for payments made for Marine Cargo Insurance as part of an effort to reduce the outflow of insurance premiums overseas, provided such insurance is made from a Malaysian insurance company. This incentive is allowed for both export and import shipments.



MEDICAL INSURANCE

Medical or Hospitalisation & Surgical Insurance provide cover for treatment (admission) to a registered hospital. The benefits covered usually include hospitalisation room & board, surgical fees, medical treatment charges, pre and post hospitalisation diagnosis & treatment, outpatient cancer treatment, kidney dialysis, etc.

Medical insurance will provide hospitalisation and surgical treatment benefits only upon admission unless specifically excluded such as pre-existing or specified illnesses. 

The exception is treatment due to accident. In the event of an accident, the medical benefits can be claimed for outpatient treatment.

The hospitalisation and surgical benefits are claimable only after 30 days waiting period except in the event of an accident, where medical benefits are claimable immediately when the policy is inforce. 

There is also an exclusion period of 120 days for specified illnesses. Pre-existing illnesses may be excluded for 120 days or permanently depending on the severity.

Most hospitalisation and surgical policies come with a co-insurance of 10 percent with a maximum limit. 

Where the room & board upon admission is higher than the policy’s room & board, a co-insurance of 20 percent is applicable throughout all medical treatment charges.

Cashless admission may be available but is subjected to private hospitals’ arrangement with the Insurers. Otherwise, claims will be on a reimbursement basis. 

Most medical or hospitalisation and surgical policies provide cover up to age 70 years while some may cover up to age 80 years. Only renewals are allowed for life insured above 60 years or 65 years depending on Insurers.

 

MONEY INSURANCE

Money Insurance Policy is designed to indemnify the insured in the event of money being stolen or robbed either from the insured’s business premises, or whilst it is being carried to or from the bank. The loss of money will have an impact on any organisation, regardless of the size of the organisation. It is therefore extremely important for a Money Insurance to be effected to protect the movement from/to the insured’s premises.

The Money Insurance Policy covers the following : 

Money In Transit

Loss of money whilst in transit from the insured’s premises to bank and vice versa whilst accompanied by the insured’s authorized employees. In respect of coverage insurance for salaries/wages, this continues until monies insured are fully paid out to the insured’s employees.

Money in Premises

Loss of money whilst the money is kept in a locked safe or strong room in insured premises by forcible and violent entry upon the insured’s premises; as a result of robbery, hold-up whilst in premises. If cover is required for money kept in locked drawers, cabinets, cash registers etc, it is important for these to be specifically stated in the Proposal Form.

Safe/Strong Room

Damage to the safe/strong room following forcible and violent entry upon the premises or as a result of a robbery is covered.

 

 


MOTOR INSURANCE

Motor insurance is compulsory under the law of Malaysia.

This class of insurance is governed by the Motor Tariff Act and can only be transacted on a Cash Before Cover basis.

The main classes of vehicle can be broadly divided into 3 categories, namely:- 

a) Private Cars

b) Commercial Vehicles including Special Type vehicles

c) Motor Cycles

 

Motor Insurance cover is available for

i) Comprehensive cover which provides cover for damage to own vehicle, third party vehicle and properties as well as liabilities

ii) Third Party cover which does not cover own vehicle damage

iii) Act Only cover which only covers third party bodily injuries

While premium is highest for the Comprehensive cover and lowest for Act Only cover, NCD or no claim discount is available on an increasing scale for good driving history. 

Commencing at 25% at the beginning of 2nd year, it reaches a maximum of 55% at the beginning of 6 year for private cars. Commercial vehicle NCDs are between 15 to 25% only.

Additional cover for perils like flooding, subsidence, landslides and falling trees may be added to the Motor Insurance policy. 

Passenger Liability cover is also a common extension. It is advisable to include cover for windscreen/windows as well as contents such as CD/DVD players, into the Motor Insurance policy.

 


PERSONAL ACCIDENT INSURANCE

Personal Accident (PA) insurance is one of the most common insurance sold due to its relatively low premium. Unlike a life policy, personal accident insurance is an annual policy and subject to renewal every year.

Personal Accident insurance policy can be broadly categorized as follows:-

a) Individual Personal Accident policy taken on an individual.

b) Group Personal Accident policies taken by employers/organisation on the lives of their employees/members.

c) Travel PA policy taken whilst on travel.

d) Drivers & Passengers Personal Accident policies are taken up by car owners to cover the driver and passengers.

Personal Accident insurance basically covers an insured person against death or total & permanent disability caused solely by violent, accidental, external and visible means.

Other benefits may include partial permanent disablement, total temporary disablement, weekly compensation and medical benefits.

The cover is on 24 hours basis worldwide, covering accidents happening away from or at home, in the course of travelling to and from home to the place of work and during social or sports activities not specifically excluded by the policy.

Personal Accident insurance is not a contract of indemnity therefore any compensation which is payable under the policy shall be paid irrespective of the benefits recoverable by the insured person from any other policy except for medical expenses which is subject to contribution.

No compensation for death or permanent disablement shall be payable unless the death or permanent disablement occurs within twelve calendar months from the date of accident.

The maximum liability of the company shall not exceed 100% of the capital sum insured for the period of insurance. In the event of a total of 100% having been paid, all insurance under the policy shall immediately cease to be in force.

There is really no scientifically acceptable formula to calculate sum insured of an insured person. Personal Accident insurance is a form of protection against loss of future earnings and not a form of speculative investment. 

In other words, a Personal Accident insurance cover provide benefits what the Insured would have earned without the accident. 

As such what determines an adequate sum insured is really the extent of protection required, which can vary from person to person depending on each individual’s background, age, state of career development, earning power and the number of dependants.

 


POLICYCARE

PolicyCare is a service to help our clients organise and review their existing insurance programmes. Many clients have multiple insurance policies of various kinds bought from advisors and agents but may not fully understand and appreciate these policies. 

Many may be wrongly or under sold due to insufficient or inappropriate advice. 

The aim of PolicyCare is to address and reverse this trend by providing our clients a comprehensive summary of their existing programmes coupled with advice and explanatory notes.

The PolicyCare document is produced after a detailed study and analysis upon receiving complete information from the client. 

The document is usually prepared in a summary table format for ease of understanding and reference. Clients are not compelled to purchase any products upon receipt of the PolicyCare document.

The PolicyCare document may be followed by a Statement of Recommendation (SoR) which highlights the client’s needs and objectives, and the recommendation to address the shortfall. The SoR is a detailed report starting with the client’s objectives, analysis of the client’s current financial situation, disclosures and disclaimers, and concluding with the recommendation and action plan. It is advisable to review the SoR annually.

 

PUBLIC LIABILITY INSURANCE

The Public Liability Insurance Policy is designed to protect the insured in respect of his legal liability to pay compensation for accidental bodily injury to or accidental damage to the property of the other person caused by or through negligence of the insured or his employees or by any defect in the premises owned or any defects in the ways, works of the insured. 

The Policy also pays for the litigation costs and expenses for defences that are incurred with the written consent of the Company.

All firms and business enterprises have a need for this cover and it is important that the proposer selects an adequate limit to protect their interest. 

The sum insured or limit of indemnity should represent the maximum liability which the Insured estimates that this business could possibly incur. The sum insured can be arranged on :-

a) Limit of any one accident, and,

b) Limit at any one period.

The company shall indemnify the Insured against all sum which the Insured shall become liable at law for damages and claimant’s costs and expenses in respect of :-

a) accidental bodily injury to any person not being a member of the Insured’s household or any person in the service of the Insured.

b) Accidental damage to property not belonging to or in the custody or control of the Insured.

c) Any legal expenses incurred by the Insured in defending legal proceedings with the Company’s written consent.

Extensions are available on payment of additional premium. These extensions may include but not limited to fire & explosion, food & drinks poisoning, passenger/service lifts and escalators, innkeeper’s liability cover for hotels, car park liability clause, etc.

 

 

TAKAFUL PRODUCTS

Takaful Products are insurance or protection based on the concept of mutual assistance by applying the principles of solidarity, cooperation and responsibility. Participants contribute to the fund as a donation or ‘Tabarru’ which will be used to help each other in times of misfortunes such as death, total permanent disablement and critical illness. The fund is managed by the Takaful Operator.

In order to be Syariah compliant, 3 objectionable elements will have to be removed, namely, uncertainty (Gharar), gambling (Maisir) and usury (Riba). The business operations are monitored by a Syariah Committee to ensure continuing compliance. Claims are paid out from the ‘Tabarru’ fund.

Like conventional insurance, takaful products offer a combination of protection and investments. Riders may be added to enhance the protection. These riders may include hospitalisation benefits, critical illness and waiver of contribution benefits. Certificates of participation in the fund are issued instead of policies.

Not only muslims but non muslims too may participate in the takaful funds. The contributions are also tax deductable up to RM6,000 including personal EPF contributions.

 

 

TRAVEL PA INSURANCE

Travel PA provides cover for travellers within and outside the country. Benefits covered uder a Travel PA insurance usually include but may not be limited to death, disablement, medical expenses, loss of baggage, delayed flights, curtailment of travel due to unforeseen circumstances, loss of credit cards & personal effects, personal liability, hijacking, etc. 

Most Travel PA insurance policies will include a repatriation benefit in the event accident or death.

Travel PA Policy should be taken up at least 2-3 days before travel. There is usually a maximum period of cover of about 6 months.

Premium is dependent on amount of benefits, number of days of travel, and the geographical locations of travel.

 

 

WILLS & TRUSTS

Wills and Trusts are instruments for the distribution of estates.

A Will takes effect only upon death and is sometimes referred to as a testamentary trust. 

An administrator or executor, either an individual or corporation must be appointed. Two (2) witnesses are required to validate the Will but both the witnesses should be independent and have no beneficial interest in the Will.

A Trust is an arrangement in writing in which the estate is managed by an individual or entity for the benefit of an individual or a group of individuals, eg. a charitable organisation. 

A Trust may be created by a settlor or donor, for the beneficiaries, and executed while the settlor is still alive or upon death.

The Trust Deed governs the terms of the Trust while the Trustee is obligated to act according to the Trust Deed under the Malaysian Trustee Act.

It is important to review the Will or Trust regularly to ensure they continue to meet the objectives and intentions of the testator or settlor and to keep the records of estates current. In addition, there may be changes in beneficiaries or distribution of the shares of the estate.

While the law recognises a personal draft of a Will, it would be advisable to seek the services of an estate planner or advisor or a trust corporation. Would you seek medical treatment from an untrained practitioner?



 
Motor Insurance Malaysia
 
 
https://www.facebook.com/motorinsurance  
 
 
 
 
 
 
Malaysia Travel Insurance 
 
Travel Insurance Malaysia
 
https://www.facebook.com/travelinsurance.my 
 
 
 
 
 
Malaysia Fire Insurance
 
Fire Insurance Malaysia
 
https://www.facebook.com/fireinsurancemalaysia
 
 
 
 

 
 
 
  
 
Malaysia Fire Rental Loss Insurance
 
Fire Rental Loss Insurance Malaysia
 
 
 
 
 
 
 
 
 
Malaysia Home Content Insurance
 
Home Content Insurance Malaysia
 
https://www.facebook.com/homecontentinsurance
 
 
 
 
 
Malaysia Property Insurance  
 
Property Insurance Malaysia
 
https://www.facebook.com/propertyinsurance.my
 
 
 
Malaysia Commercial Building Insurance
 
Commercial Building Insurance Malaysia
 
https://www.facebook.com/buildinginsurance.com.my
 
 
 
 
 
Malaysia Apartment Insurance
 
Apartment Insurance Malaysia
 
https://www.facebook.com/apartmentinsurance.my
 
 
 
  
 
 
 
 
 
Malaysia Condo Insurance
 
Condo Insurance Malaysia
 
https://www.facebook.com/condoinsurance.com.my
 
 
 
 
 
Malaysia Shop and Office Insurance
 
Shop and Office Insurance Malaysia
 
https://www.facebook.com/officeshopinsurance
 
 
 
 
 
Malaysia Clinic Insurance
 
Clinic Insurance Malaysia 
 
https://www.facebook.com/clinicinsurance
 
 
 
 
 
Malaysia Hotel Insurance
 
Hotel Insurance Malaysia
 
https://www.facebook.com/hotelinsurance
 
 
 
 
 
 
Malaysia Food and Beverage Insurance, Malaysia Restaurant Insurance
 
Food and Beverage Insurance Malaysia, Restaurant Insurance Malaysia
 
https://www.facebook.com/fnbinsurance.my
 
 
 
 
 
 
Malaysia Retail Outlet Insurance
 
Retail Outlet Insurance Malaysia
 
https://www.facebook.com/retailinsurance.malaysia
 
 
 
  
 
 
 
  
 

 
 
 
 
Malaysia Management Liability Insurance
 
Management Liability Insurance Malaysia
 
https://www.facebook.com/managementliability.com.my
 
 
 
 
Malaysia Errors and Omissions Insurance
 
Errors and Omissions Insurance Malaysia
 
https://www.facebook.com/errorsomissions
 
 
 
  
 
  
 
 
 
 
 
ACPG MANAGEMENT SDN BHD
 
We (ACPG), provided all classes of  insurance services more than 23 years in Malaysia (since year 1989).
 
We (ACPG) One of The Largest General Insurance (Individual & Commercial) Service Provider in Malaysia. 
 
Any enquiry, email to enquiry@acpgconsultant.com or Call our Careline : +603-9286 3323.
 
ACPG MANAGEMENT SDN BHD
 
We (ACPG), provided all classes of  Malaysia insurance services since year 1989.
 
We (ACPG) One of The Largest General Insurance (Individual & Commercial) Service Provider in Malaysia. 
 
Any enquiry, email to enquiry@acpgconsultant.com or Call our Careline : +603-9286 3323.