News eDaily23 Aug 2017

Malaysia:Micro disaster insurance scheme to be launched soon

23 Aug 2017

A Disaster Insurance Scheme to protect flood victims will be implemented soon following the Cabinet's approval granted earlier this month for its implementation.

Minister in the Prime Minister’s Department Shahidan Kassim said that the commencement of the scheme would involve 100,000 heads of households in flood risk areas nationwide which would be identified by the Village Development and Security Committees (JKKK), reported the Bernama News Agency.

“The scheme is to provide coverage to disaster victims via insurance coverage which is a result of the co-operation of the government and insurance companies.

“Every participant will only be charged MYR10 (US$2.34) while the rest of the cost is borne by the government with a compensation value of MYR1,000,” he said.


 


 

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