Malaysia: Further discounts on premiums to be granted to careful drivers
Source: Asia Insurance Review | Nov 2019
Safe drivers will be able to enjoy further discounts on their motor insurance premiums starting in January 2020, transport minister Anthony Loke has announced.
“For this effort, we need to integrate information and data by the police and the Road Transport Department on people with clean records on roads and vice versa,” he said, adding that the process is now in the final stage.
He said discussions had been held with the General Insurance Association of Malaysia, which agrees with the measure, in a bid to improve road safety.
“With this new system, instead of paying out claims, insurers could offer more rebates on a driver’s no-claim bonuses, on top of the 50% discount if their vehicle is accident free,” he added.
“Once everything is ready, we hope to start early next year,” he said. A