With only around 15% of small and medium enterprises (SMEs) having flood insurance, more than 80% of businesses are severely at risk from natural disasters, according to AIG Malaysia.
Concerns about increased flooding in the country were raised after the Malaysian Meteorological Department said that the northeast monsoon season — which lasts from November to March — could worsen by around 20% to 40% in the eastern coastal states of Peninsular Malaysia, the Malaysian Reserve reported.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.