The members of the Malaysian Takaful Association (MTA) have adopted several relief measures on-case-case basis to ease the financial burden of the certificate holders and the victims who are affected by the floods in several states in the country recently. Takaful certificate holders are advised to contact Takaful operators to obtain details of their respective takaful coverage. Alternatively, the public can refer to the takaful operators’ social media announcement for these flood reliefs and the measures.
MTA members are committed to offering assistance to all flood victims, among others:
– Shorten the process of claims made and
– payment of annual contributions on an instalment basis
– contribution payment deferment
In the objective of expediting the settlement claims, certificate holders are advised to ensure the following details are provided to the takaful operators:
• type of takaful cover and period of cover
• Information about the incident; i.e. date, damage incurred, location, etc.
• Details and supporting documents that describe the loss or damage
• Additional information about any other people, vehicles, or property involved
Given the increase in weather-related natural disasters, MTA would like to advise the public to review their Takaful certificates with their agents to establish if the cover provided is sufficient to mitigate any financial impact due to flood losses and damages. Businesses and individuals can take up affordable Takaful products offered by Takaful operators to protect themselves and their businesses against such losses.
As circumstances of each case/claim may differ, the public who are affected and unsure of their coverage to contact the respective takaful operators for more information and clarifications.