Malaysia: Transport ministry seeks insurers' ideas on ways to reward safe drivers
Source: Asia Insurance Review | Mar 2019
The transport ministry is waiting for proposals from insurance companies on how to reward prudent car drivers with discounts on premiums, said its minister Anthony Loke.
“I have already conveyed that to the General Insurance Association of Malaysia (PIAM) to come up with a mechanism on how to give incentives or discounts for motorists who do not have summonses or outstanding summonses with the authorities,” he said, according to a report in The Star newspaper.
“We hope to roll out the mechanism as soon as possible. Hopefully, we can have it within this year, and we can announce its implementation this year as well,” he said, adding that the ministry is ready to integrate the system. “We received complaints from insurance companies that due to the high number of car accidents, they have to pay out huge amounts of claims on a daily basis,” he said. A