Round-the-clock breaking news from Malaysia.
Medical insurance premiums in Malaysia are climbing steeply as claims balloon, driven more by rising service usage than price increases. Artificial intelligence could help insurers and claims processors identify unusual billing patterns and protect patients.
Malaysia's General Insurance Association clarifies that standard house fire policies cover electric vehicle charging-related damage, subject to policy terms and no deliberate acts. Homeowners must notify insurers of permanent charger installations.
LPI Capital delivered a net profit of RM6.686mil in the second quarter, with revenue climbing to RM545.22mil. The group declared total dividends of 90 sen per share, comprising a 25 sen interim dividend and a 65 sen special dividend.
Malaysia's High Court has determined that Zurich Takaful may void insurance policies obtained through fraudulent means, finding that the insurer's agent disregarded fundamental underwriting protocols in pursuit of commissions.