Flexible Premiums for Motor Insurance beginning 1 July
Bank Negara Malaysia (BNM) has announced that beginning 1 July 2017, the general insurance industry will be liberalised in stages. Liberalisation of the tariff means removing the tariff structure or freeing up the fixed premium rates. This means that beginning July 2017, motor insurance applications will now be assessed based on a list of risk factors, resulting in different premium amounts to be paid by consumers instead of the current fixed pricing.
If you would like to find out more on how to protect your motor vehicle against claims for damages and/or loss while on the road, please go to - https://www.aia.com.my/en/our-products/motor-insurance.html