You can now get non-tariff rated motor insurance from Chubb

By BERNAMA | 19 June 2017

KUALA LUMPUR: Chubb Insurance Malaysia Bhd (Chubb) has launched "MY Car Insurance", its first non-tariff rated motor insurance policy developed under the phased liberalisation of motor insurance move initiated by Bank Negara Malaysia.

Under the initiative, the price of motor insurance products would be determined by individual insurers and takaful operators, giving them the flexibility to develop and package motor insurance products and services to suit the consumer's budget, it said in a statement last week.

Country president for Chubb in Malaysia, Steve Crouch, said that it was a chance to drive innovation in its product offerings to meet the evolving needs of consumers.

"We conducted extensive studies on the Malaysian driver's experiences and designed an all-in-one solution encompassing coverage for inconveniences in the event of a vehicle breakdown, accident or flood," he said.

MY Car Insurance is distributed via all Chubb agents nationwide through its network of 23 branches and more than 2,500 agents.