General insurers and takaful providers in Malaysia have implemented an expedited claims process and special considerations amid heavy rainfall, especially in Peninsular Malaysia.
The General Insurance Association of Malaysia (Persatuan Insurans Am Malaysia/PIAM) and the Malaysian Takaful Association (MTA) issued a joint statement, saying that their members are ready to provide assistance to all policy/certificate holders affected by floods.
They advised customers to contact their insurers or takaful operators for further advice, as the scope of cover, terms and conditions including relief measures differ between companies.
Because flood is an optional cover under the standard fire and motor insurance or takaful, the associations advised all policy/certificate holders to review their coverage to ensure that their properties are insured against flood.
The PIAM and MTA advised those affected by flooding to take the following steps as part of the expedited claims process.
For those not affected by the floods, PIAM and MTA said that now is a good time to review their coverage to ensure that their interests are adequately protected for natural calamities like floods, which are occurring more frequently due to the effects of climate change.
At least six states in Malaysia experienced severe flooding over the weekend due to extreme rainfall, which the Environment and Water Ministry described as a one-in-100-year event. At least 34,000 individuals have been displaced from their residences, and the armed forces have been deployed to assist in the evacuation efforts, according to a report by The Straits Times.
