THE General Insurance Association of Malaysia (PIAM) said insurance providers have made certain waivers to expedite claim settlements made by flood victims.

Chairman Antony Lee Fook Weng said this included waiving the need for a police report, setting up additional hotlines and providing loss adjusters at the scene.

“We are actually removing some of the requirements. Some insurers are also able to give emergency cash immediately, in some cases, up to RM5,000 depending on the policy (with flood cover), without even having to go through the full process (of claims). (We) understand during this time of need, cash is needed quickly,” he said on Bernama TV’s The Brief programme today.

Lee advised policyholders to reach out to their respective insurers or agents to help them, although he cautioned that there may be some delays in settling the claims, but the claim will be settled in due course.

He said the insurance providers are well-prepared for these types of disasters although the recent floods were on a scale that was unprecedented.

Insurers have mobilised their claims team to the affected flood areas with immediate effect, he said.

He also advised policyholders to review their coverage as flood coverage is optional under the standard fire and motor policies. – Bernama, December 21, 2021.