PIAM members ready to pay out claims

The members of the General Insurance Association of Malaysia (PIAM) are ready to pay out claims against losses suffered by victims in the current flood situation.

In a statement yesterday, PIAM said the claims would involve those who have purchased a flood cover as part of their general insurance policy.

“PIAM member companies will process all flood claims as long as flood is an insured peril, regardless of whether a state of emergency is declared or not.

“Standard motor and fire policies exclude coverage against losses caused by natural disasters such as earthquakes, tsunamis and typhoons. However, cover for flood-related loss or

Damage is optional and can be purchased as an extension to these standard policies,” it said.