The General Insurance Association of Malaysia (PIAM) has clarified that the latest revision to motor insurance premium is a continuation of the motor tariff premium rate adjustments under the 2012 New Motor Cover Framework.
Introduced by Bank Negara Malaysia in 2012, the New Motor Cover Framework was conceived to enhance efficiency in the provision of motor cover with a gradual price increment.
For 2015, the adjusted motor tariff premium will take effect from 23 February. Policies purchased or renewed beginning 23 February will reflect the latest price revision. The revisions will only affect private cars, public taxis and express buses. Rates for other type of vehicles remain unchanged.
PIAM has also implemented the 24/7 Accident Assist Call Centre (AACC) service to provide roadside assistance for those involved in an accident. The hotline can be reached at 1300-22-11-88.
