A selection of websites containing information on General and Life Insurance, as well as related organizations which you may find useful.
- Bank Negara Malaysia
As Malaysia's Central Bank, Bank Negara Malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the Malaysian economy.
- Insurance Services Malaysia Berhad
ISM Insurance Services Malaysia Berhad (ISM) was conceptualized in 1998 by the General Insurance Association of Malaysia (PIAM) as the Malaysian Insurance Rating Organisation (MIRO) project. The objective of MIRO was to put in place databases to support pricing and reserving in a liberalised pricing environment.
- Ombudsman for Financial Services
The Ombudsman for Financial Services (OFS) [formerly known as Financial Mediation Bureau] is an independent body set up to help settle disputes between you and your financial services providers who are its members. The OFS provides you with free, fast, convenient and efficient avenue to refer your disputes for resolution as an alternative to the courts. These disputes may be Banking/Financial related as well as Insurance and Takaful related.
- The Malaysian Insurance Institute
Founded in 1968 as a non-profit organisation, The Malaysian Insurance Institute (MII) is the leading professional body and education institution for the Malaysian insurance industry. MII provides internationally recognised qualifications in insurance, risk management and financial planning. It is highly respected as a regional centre that offers an extensive range of quality education programmes and training courses for professionals in the insurance and financial services industry. MII commitment to providing relevant, high quality professional qualifications and training offerings is underpinned by its role in partnering the industry and its members in the pursuit of professional excellence and business success.
- Insurans Info
The Consumer Education Programme (CEP) on insurance and takaful is known as InsuranceInfo and is a joint effort between Bank Negara Malaysia and the insurance and takaful industry. The InsuranceInfo is designed as a long-term programme to provide educational information to enable consumers to make well-informed decisions when purchasing insurance or takaful products. InsuranceInfo aspires for consumers to be in a better position to select insurance or takaful products that best meet their needs as well as to understand their rights and responsibilities as consumers of insurance or takaful products and services.
- The Actuarial Society of Malaysia
The Actuarial Society of Malaysia (Persatuan Aktuari Malaysia) was founded on 5th October 1978. We are the only representative body for the actuarial profession in Malaysia, and provide a platform for members of the actuarial profession to raise and discuss technical and public interest issues related to the practice of the profession; to communicate such issues to relevant parties including the public, industry regulators and corporate stakeholders; to provide educational support to actuarial students and professional development to qualified actuaries; and to provide space for members of the profession to build relationships.
The main objective of the Consumer Education Programme (CEP), known as "BankingInfo" is to provide consumers with the knowledge and understanding of the wide range of banking products and services, and where assistance or advice can be obtained. Through information provided in the BankingInfo, consumers will be in a better position to select the financial services or products that best meet their needs as well as be able to understand their rights and responsibilities relating to the services/products that are being offered.
- General Insurance Association of Malaysia (PIAM)
PIAM is the national trade association of all licensed direct and reinsurance companies for general insurance in Malaysia. Currently, PIAM has 29 member companies.
- Life Insurance Association of Malaysia (LIAM)
Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. It is a statutory requirement under Section 22(1) of the Insurance Act 1996, for all life insurance and life reinsurance companies to be members of LIAM.
New facility for public to check status of insurance agents if they are registered agents via LIAM website and SMS. This online verification is intended to facilitate the members of the public to ascertain whether individuals they are dealing with, to purchase life insurance products, are registered with LIAM as an authorised agent. Only individuals registered with the Life Insurance Association of Malaysia (LIAM) are authorised to promote, market and distribute life insurance products in the market. Should you encounter unauthorised agents promoting, marketing and distributing life insurance products in the market, please contact LIAM at 03 2691 6168.
Please find the below link as the guide on using the LIAM website enquiry as well as the revised guide on the SMS facility updated with the enhancement for Bahasa Malaysia and Mandarin SMS replies.
- Million Dollar Round Table (MDRT)
Founded in 1927, the Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals®, is a global, independent association of more than 42,000 of the world's leading life insurance and financial services professionals from more than 470 companies in 71 countries. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business.
The premier organization for life insurance professionals and financial planners/practitioners NAMLIFA, or the National Association of Malaysian Life Insurance Fieldforce and Advisers, was established to elevate the economic wellbeing, status and professionalism of this noble vocation.