Recommend Us | About Us | Back to

News | Financial Calculator | Home Financing | Archived News |


  Welcome to Bernama Banking & Finance Special Page     
Motor Insurance Liberalisation To Drive Fairer Pricing
Last update: 03/07/2017

KUALA LUMPUR, July 3 (Bernama) --†The liberalisation of†motor insurance in Malaysia which began on July 1 will†drive fairer ways of pricing based on individual's risk profile, said AmGeneral Insurance Bhd.†

In a statement today, it said the price of motor insurance products would no longer be determined based on motor tariff (a set fixed price list)†but by individual insurers.†

"Consumers will be able to enjoy a wider choice of motor insurance products at competitive prices as liberalisation encourages innovation and healthy competition among insurers.

"Insurers are able to charge premiums that are in line with broader risk factors inherent in a group of policyholders being insured, and also sell new products that are not defined under the tariff,"†it said.

To kick start†the change, AmGeneral†is organising a†'Talk To Us' campaign, aimed at encouraging the public to call their agents first to get all the information they need†to choose the best plans.

AmGeneral†is among the leading general insurers in the industry which underwrites policies with over RM1.2 billion in motor insurance premium under its two brands, AmAssurance and Kurnia Insurans.



RHB Islamic Bank CEO is new AIBIM President
Islamic Financial Institutions should adopt IIFM standards

Islamic Banks eyes bigger trade financing mart share

Taiwan's Shinkong Insurance company gets excellent ratings
Tinubu Square launches innovation lab for insurance and banking industry

MSAM 2018 records 200,168 visitors

US 3.9740/9780
S'pore 2.9562/9596
100 Yen 3.5753/5799
Sterling 5.3391/3448
Euro 4.6698/6749
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

  Main | News | Insurance

© 2018 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution