Malaysia Motor Insurance Online Quote

Malaysia Motor Insurance,

Malaysia Motor Insurance Online Quote

Cheapest Rate and Comprehensive Motor Insurance

Arranged by

ACPG Management Sdn Bhd

www.acpgconsultant.com

+603-92863323

+6011-12239838

Malaysia Insurer provide Comprehensive Motor Vehicle Insurance.

ACE Jerneh Comprehensive Motor Insurance

Get more from your car insurance. Great benefits and extra add-ons such as 24-hours emergency assistance and wide choice of panel workshops for all vehicle types!

AIA Comprehensive Private Car Insurance

Insure your prized vehicle against any loss or damage due to fire, theft, or accidents including for any third party involved. Option to add windscreen cover available.

AIG Comprehensive Motor Insurance

Award winning claims services with zero additional payments on your motor repairs at panel workshops with 1 year warranty, free roadside assistance, and a full insurance pay-out on total car damage.

AXA Affin Comprehensive Motor Insurance

Protect your car and its accessories from any loss or damage. Choose to add-on benefits such as windscreen cover, damage against natural disasters, and legal liability to passengers.

AXA Affin SmartDrive

All-in-one protection and 24-hour emergency hotline services! Receive free SmartDrive Assistance Plan and get 6-month warranty on your claims.

Allianz Comprehensive Motor Insurance

Motor insurance is a modern necessity. Enjoy coverage for third party liability, damage to your own and other people's vehicles, plus fire and theft protection.

AmGeneral Private Motor Insurance

Let's face it, anyone can be reckless on the road. Have complete peace of mind with comprehensive protection against accidents, injury to other people, and car theft.

Berjaya Sompo Private Motor Insurance

Give your car the protection it deserves. Get rid of the fear of losing your car to a thief, wrecked in a car accident, and any injury or death to third party road users.

CIMB Motor Insurance

An all-in-one comprehensive car insurance policy from CIM B

Get 24-hour emergency towing service, road-side repair assistance, and road tax renewal services!

Citibank SmartDrive

Skip the queue and buy or renew your car insurance policy online now! Enjoy great reward points or cash rebates when you pay with your Citibank credit card.

Easy by RHB Easy-Insurans Kasih Motor

Give your car the protection it deserves now with on-the-spot cover note and renewal with free towing and roadside help to get you back on the road in no time!

Etiqa Comprehensive Private Car Takaful

You'll never know what's at the next turning, so have complete peace of mind on the road with 24-hour emergency towing for accidents and fast motor claims.

HSBC Comprehensive Car Insurance

Renew your motor insurance fast with HSBC

Make sure your vehicle is insured against any loss or damage, including personal accident protection for both the driver and passengers.

Hong Leong Comprehensive Motor Insurance

Get yourself a motor insurance that'll provide professional 24-hour services for free minor roadside repairs and towing. Have instant access to trusted mechanics all over Malaysia!

Kurnia Comprehensive Motor Insurance

You rely on your car to take you everywhere, so rely on Kurnia to give it the protection it deserves. Have the benefit of 24-hour roadside assistance for breakdown and accidents.

Liberty Comprehensive AutoStar

Give your car 5-star protection! Renew your car insurance online at your comfort and enjoy full coverage for liability against third party claim as well as damage to your own vehicle.

Lonpac Comprehensive Private Vehicle Insurance

24-hour emergency assistance when your car breaks down and needs repair. Lonpac also offers free towing service, claims for car accidents, and third party compensation.

MAA Takaful Comprehensive Motor Coverage

A Takaful plan that will provide your car with comprehensive coverage! Have complete peace of mind with coverage for both your car and injury to other motorists.

MPI Generali Comprehensive Private Car Insurance

Reckless drivers are common on the road and that is why your precious car needs all the protection it could get. Get compensated against damage of your own car, third party liability and car theft with MPI General insurance !

MSIG Comprehensive Motor Insurance

Get 24-hour roadside assistance and on-site repair services! Enjoy 6 months warranty on all repairs carried out by MSIG's nationwide panel workshops on your vehicle.

Maybank Comprehensive eMotor Takaful

eMotor Takaful provides 24-hour super-fast claims approval! Enjoy the convenience of online road tax renewal, premium payment options, and on-the-spot issuance.

Overseas Assurance Comprehensive Motor Insurance

A comprehensive motor insurance policy that protects your car not only in Malaysia, but also if you decide to go roadtripping to Thailand or West Kalimantan!

Pacific Comprehensive Motor Insurance

Whether you own a car or motorbike, get it insured against third party liabilities, fire damage and theft, and most importantly, claim for any damage caused by road accidents.

Pacific and Orient Comprehensive Motor Insurance

Have the assurance of a variety of coverage types such as loss or damage to own vehicle arising from lightning, accidents, fire, and add-on windscreen protection.

Progressive Comprehensive Motor Insurance

A complete car insurance plan that not only protects your wheels for any loss or damage, but also other people on the road from minor or fatal injuries!

QBE Private Car Comprehensive Insurance

Get more coverage and benefits for your private car or van with a full-on insurance plan that protects your ride against accidents, fire damage, theft, and injury to other people.

RHB Comprehensive Private Car Insurance

Protect yourself in the event of a stolen car or in need of replacement parts because of an accident. An insurance plan that takes care of third party victims as well.

Takaful IKHLAS Comprehensive Commercial Vehicle Insurance

Whether you run a delivery service or you need a van to pick up inventory, it's important to have your vehicle insured. Avoid business loss with Takaful Ikhlas.

Takaful IKHLAS Comprehensive Private Car

Get the best Shariah compliant insurance for your car. Have the surety of protection from injury or death to third parties, plus damage caused by accident or fire to your car.

Takaful Malaysia Comprehensive myMotor

Get full indemnity for damages caused to your car because of an accident, fire, and even when you wake up in the morning and find out that your car has been stolen!

Tokio Marine Comprehensive Motor Insurance

Have unlimited protection for injuries or death caused to third parties, including high coverage limit for loss or damage to your own car an other people's property.

Zurich Comprehensive Motor Insurance

Road-tripping around the country? Not to worry, have the convenience for 24-hour roadside breakdown assistance for both Peninsular and East Malaysia.

What You Need To Know About Car Insurance

If you dream to own a car, you'd have to get your motor insurance sorted, whether it's third party only or comprehensive protection. You like to drive fast, but what happens when you lose control and crash? You WILL need motor insurance when you buy a car; it's as simple as that . Anyone telling you any different is well...ill informed, or simply has no regard for his or her own welfare - there's no two ways around it, as you will need a car insurance of some-kind to be able to drive legally, even if it's to your mamak stall 5 minutes from home. According to the Malaysian Institute of Road Safety Research, in 2012 alone, Malaysia has seen over 400,000 road accidents, 6,000 of which has led to road deaths. You can bet that this number has risen in 2014, and will continue to rise with more demand for cars, if there is no changes done for the sorry state of our public transportation system. This is reason enough to buy a motor insurance policy, to save you time and inconvenience when accidents happen.

The 3 Types of Car Insurance

There are three types of motor insurance available in the Malaysian market, namely:

1. Third Party Cover

Imagine this: It was a rainy night, and you decide to drive your car home after a night of drinking. Your car skids at a junction and hits a pedestrian. By luck, you escaped unscathed - but to your worst fears, the pedestrian had suffered a few broken limbs - ouch!

To avoid forking out an exorbitant amount of money to pay for his or her hospital bills, you need at least a third party car insurance - It is a policy that protects you against claims for bodily injuries or even deaths caused to other persons (third party), including any loss or damage to their vehicle or property. This also means that you cannot claim for any damages on your own person or vehicle, with it being the cheapest and most minimal policy you would need to enable you to drive legally.

2. Third Party Fire and Theft Cover

Like a third party insurance policy, this policy covers you against claims from third parties from bodily injury, death, and loss or damage to their property. Speeding in a neighbourhood and crashed into a house? You policy might pay for a portion of the repairs.

Added to that, you will be able to claim compensation for loss or damaged caused by fire related incidents and car theft - so if you fear waking up one day with a missing car from your driveway, you can claim with a fire and theft insurance plan.

3. Comprehensive Cover

This car insurance policy covers all of the above, but the major reason to buy comprehensive is the protection given to your OWN car! In addition to third party protection and fire and theft coverage for you own car, you will get cover for any accidental loss or damage inflicted to your vehicle due to an accident.

It is probably a good idea to buy yourself a comprehensive car insurance plan if you own a relatively expensive car - a car that has a market value of more than RM30,000 would fit just nicely in this category.

What Your Car Insurance Will Not Normally Cover

If you have read the terms and conditions for all three policies carefully, provided that you actually understood everything, you will realise that some incidents are not covered, even though they occur fairly frequently, for example - you would expect your car insurance to cover your death in the event of a serious accident...but does it really? To be clear, that's what a motor personal accident insurance is for, something you should also sign-up for when taking up a car insurance plan.

1. Your own death or bodily injury because of a motor accident

You would expect that your own death or at least physical injury to be coverage for a modest amount of money; well, stranger things have happened. Your personal accident insurance or medical insurance might have you covered, but not a car insurance plan. Nope, not even the comprehensive cover - that means no hospitalisation allowance or coverage for funeral expenses.

2. Your liability against claims from your passengers

A passenger who gets hurt because of a car accident will usually have an easier case compared to the person behind the wheel - if the accident involves two vehicles, one of the drivers will most likely be found negligent and liable for the physical injury to the passenger.

However, you will be able to pay additional premium on your motor insurance to include Passenger Liability Extension Cover, in the event that your passengers choose to sue you.

3. Stolen non-factory fitted vehicle accessories such as car stereos, leather seats, sports rims etc.

Pimping out your brand new Honda City with custom spinning rims, genuine leather seats, and an expensive (but totally unnecessary) sound system might earn you brownie points with your friends and colleagues, but you may also be drawing a lot of unwanted attention from less agreeable people i.e. car thieves. Make sure in addition to your lavish upgrades, you install additional car security features, such as a powerful GPS tracking system!

4. Consequential loss, depreciation, wear and tear, mechanical, technical breakdown failures, or breakages

Like everything else - cars aren't built to last. As vehicle parts wear out with time (excluding parts made out of glass e.g. windshield), the value of your car depreciates along with them - and honestly, a car's value drops the moment it leaves the showroom.

You'll probably lose up to 40% of its initial value 5 years down the road - literally! If you're planning to insure a car that is pushing 15 years of age, good luck finding an insurer that'll take you on.

5. Vehicle damage due to acts of nature e.g. flood, landslide, typhoon

These unfortunate events, along with earthquakes and hurricanes are commonly referred to as natural disasters or acts of God, and are not covered in standard car insurance policies. On the other hand, you may pay higher premiums to extend your policy to cover flood, landslide, landslip including adequate cover for your passengers.

As you've read, insurance companies will allow you to add-on optional benefits to your car insurance policy to be insured for all five exclusions that we've mentioned above, including coverage for windscreen repairs and replacement - but of course, you will have to pay a higher premium. So you'd now probably want to know what goes into calculating your premiums?

Your Motor Premium Calculation

Motor insurance premium is calculated according to the Motor tariff set out by Persatuan Insurans Am Malaysia ( PIAM). All insurance companies are required to use the same pricing schedule. This prices are determined by a few factors such as coverage type, use of vehicle, car engine size i.e. cubic capacity, age of vehicle, maximum sum insured, extended coverage and number of registered drivers. However, this is all set to change in 2016, when the current tiered system will be replaced with a new risk based price structure, an effort by Bank Negara Malaysia to deregulate the car insurance industry.

Avoid Under-Insurance

Lastly, it is very important that you insure your vehicle appropriately according to its current value, whether its at the purchase price for a new car, or the current market value for one that is used. This is to avoid under-insurance that will result in only partial compensations on claims, or worse still over-insurance, where you simply waste money to insure a car above its market value, when the maximum you can claim is at the market value - so why would you want to do that?

Drive your life better with exclusive ACPG car insurance tips and deals!

ACPG MANAGEMENT SDN BHD

Your Trusted, Experience and Largest

Malaysia Risk Management Insurance Solution Services Provider since year 1989.

We (ACPG), provided all classes of insurance services more than 23 years in Malaysia (since year 1989).

We (ACPG) One of The Largest General Insurance (Individual & Commercial) Service Provider in Malaysia.

Any enquiry, email to enquiry@acpgconsultant.com or Call our Careline : +603-9286 3323.

Please Download ACPG Company Profile here!!

Please ACPG Corporate Video for Malaysia Commercial Insurance (Business Insurance) and Malaysia Individual Insurance (Personal Insurance).

For ACPG Corporate Video posted on YouTube

at http://youtu.be/hwWKPU003gE for Malaysia Commercial Insurance (Business Insurance) and

at http://youtu.be/0hN64xcYgrI for Malaysia Individual Insurance (Personal Insurance).

Malaysia Contruction Insurance, Malaysia Contractor's All Risk Insurance (CAR), Malaysia Erection All Risk Insurance (EAR) and Performance Bond Insurance (IG) arranged by ACPG Management Sdn Bhd

Malaysia Contruction Insurance, Malaysia Contractor's All Risk Insurance (CAR), Malaysia Erection All Risk Insurance (EAR) and Performance Bond Insurance (IG) arranged by ACPG Management Sdn Bhd.

 

 

 

 

 

Construction and Engineering Insurance Malaysia

Contractors' All Risks (CAR)

Contractors' All Risk insurance (CAR) is designed to provide coverage involving construction of buildings and other civil engineering works. It provides coverage against:

• Loss or damage to the contract works caused by any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded.
• Damage to third party property and/or bodily injury occurring in direct connection with the erection works.

Contractors' All Risk insurance (CAR) policy is designed to provide protection against loss or damage in respect of the contract works at contract site and third party claims arising in connection with the construction of a project.

With additional premium, the cover may include Construction Plant and Equipment, Construction Machinery, Removal of Debris, Professional Fees and Principal’s Existing Property.

Duration Contractors' All Risk insurance (CAR) of cover corresponds with the contract period which is stipulated in the Letter of Award.

PRODUCT DISCLOSURE SHEET
CONTRACTOR’S ALL RISKS
(Please read this Product Disclosure Sheet before you decide to take out a Contractor’s All Risks Insurance Policy.
Be sure to also read the general terms and conditions stated in the policy).

1. What is this product about?
This policy provides All Risks coverage unless specifically excluded under the policy for contractors to meet their insurance obligations under the contract conditions for projects awarded such as, construction of buildings, roads, railway lines, airports, tunnels, bridges, towers, dams, etc.
This policy covers the contract work to be executed in accordance with the contract, any temporary works, construction materials, construction plant and equipment used at the work site and any third party liability arising out of the performance of the contract.

2. What are the covers / benefits provided?
This policy has two sections, namely :
• Section I – Material Damage
It covers any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded under the policy:
a) to the contract work executed
b) to the contractor’s plant, machinery and equipment used for the contract at work site
c) to Principal’s existing property
• Section II – Third Party Liability
It covers the contractor for all sums which he shall become legally liable to pay as damages consequent upon:
a) accidental bodily injury to or illness of third parties (whether fatal or not)
b) accidental loss of or damage to property belonging to third parties
occurring in direct connection with the construction of the items insured under Section I and happening on or in the immediate vicinity of the work site during the period of cover.
Duration of cover corresponds with the contract period including maintenance period as stipulated in the Letter of Award. You need to purchase a new insurance policy to cover each project undertaken.

3. How much premium do I have to pay?
The total premium that you have to pay may vary depending on the Contract Value, the scope of work of the
project to be executed, the risk exposure, the extensions to basic cover required and the underwriting
requirements of the company:
• Estimated Contract Value
• Rate Applicable _____________%
• Sum Insured for Extensions of cover
• Loadings Applicable to the Extensions _____________%
The estimated total premium that you have to pay is: RM___________

4. What are some of the key terms and conditions that I should be aware of?
Some of the key terms and conditions that you should be aware of are:

• Duty of disclosure - you must give all the facts in your application form fully and faithfully otherwise your policy may be void.

• Duty of Assured – you shall take all reasonable precautions and comply with all reasonable recommendations of the company to prevent loss, damage or liability and comply with statutory requirements and manufacturer’s recommendations.

• You must ensure that your sum insured stated in the Schedule are adequate:

a) Contract Works - full Value of the contract works at the completion of the construction inclusive of all materials, wages, freight, customs duties, dues and materials or items supplied by the Principal.

b) Construction Plant and Equipment - the replacement value of construction plant and equipment, which shall mean the cost of replacement of the insured items by new items of the same kind and capacity.

• Any extension of the contract period may be considered subject to advance notification to the company in writing and submission of relevant documents.

• Underinsurance - if the sum insured stated in the Schedule is less than the amount required to be insured at the time of loss, you are deemed to be self-insuring for the difference. The average condition shall apply in event of a claim.

• Excess - is the amount of loss that you have to bear in event of a claim.

5. What are the major exclusions under this policy?
This policy does not cover certain losses, such as:
a) loss or damage due to faulty design
b) the cost of replacement, repair or rectification of defective material and/or workmanship
c) wear and tear, corrosion, oxidation, deterioration due to lack of use and normal atmospheric conditions
d) loss or damage to construction plant, equipment and construction machinery due to electrical or mechanical
breakdown, effective lubrication or lack of oil or coolant.
e) consequential loss of any kind or whatsoever including penalties, losses due to delay, lack of performance, loss of contract.
f) loss, damage or liability caused by or arising out of :
• war, riot, strike, civil commotion
• nuclear reaction, nuclear radiation or radioactive contamination
• willful act or willful negligence
• cessation of work whether total or partial
(Note : This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.)

6. Can I cancel my policy and how do I cancel it?
There is no cancellation provision under this policy.

7. What do I need to do if there are changes to my contact details?
It is important that you inform us of any changes to your contact details. This is to ensure that all the correspondence will reach you in a timely manner.

8. Where can I get further information?
Should you require additional information about our Contractor’s All Risks insurance or any other types of insurance products, you may contact ACPG directly at your convenience. Alternatively, you may visit our website at www.acpgconsultant.com.

Erection All Risks (EAR)

Similar to Contractors' All Risks, Erection All Risks is designed to provide comprehensive coverage for the installation and erection of engineering projects of electrical or mechanical equipments.

PRODUCT DISCLOSURE SHEET
ERECTION ALL RISKS INSURANCE
(Please read this Product Disclosure Sheet before you decide to take out a Erection All Risks Insurance Policy. Be
sure to also read the general terms and conditions stated in the policy).

1. What is this product about?
This policy provides All Risks coverage unless specifically excluded under the policy for contractors to meet their insurance obligations under the contract conditions for projects associated with the erection of machinery such as erection of power plants, turbines, transformers, etc.
This policy covers the erection work to be executed in accordance with the contract, any temporary works, construction materials, construction plant and equipment used at work site and any third party liability arising out of the performance of the contract.

2. What are the covers / benefits provided?
This policy has two sections, namely :
• Section I – Material Damage
It covers any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded under the policy:
a) to the contract work under erection
b) to the contractor’s plant, machinery and equipment used for the contract at work site
c) to Principal’s existing property
• Section II – Third Party Liability
It covers the contractor for all sums which he shall become legally liable to pay as damages consequent upon:
a) accidental bodily injury to or illness of third parties (whether fatal or not)
b) accidental loss of or damage to property belonging to third parties
occurring in direct connection with the erection of the items insured under Section I and happening on or in the immediate vicinity of the work site during the period of cover.
Duration of cover corresponds with the contract period including testing/commissioning period as stipulated in the Letter of Award. You need to purchase a new insurance policy to cover each project undertaken.

3. How much premium do I have to pay?
The total premium that you have to pay may vary depending on the Contract Value, the scope of work of the project to be executed, the risk exposure, the extensions to basic cover required and the underwriting
requirements of the company:
• Estimated Contract Value
• Rate Applicable _____________%
• Sum Insured for Extensions of cover
• Loadings Applicable to the Extensions _____________%
The estimated total premium that you have to pay is: RM___________

What are some of the key terms and conditions that I should be aware of?
Some of the key terms and conditions that you should be aware of are:
• Duty of disclosure - you must give all the facts in your application form fully and faithfully otherwise your policy may be void.

Duty of Assured – you shall take all reasonable precautions and comply with all reasonable recommendations of
the company to prevent loss, damage or liability and comply with statutory requirements and manufacturer’s recommendations.
• You must ensure that your sum insured stated in the Schedule are adequate:
a) Contract Works - full value of the erection works at the completion of the contract inclusive of freight, customs duties, dues and erection costs.
b) Construction Plant and Equipment - the replacement value of construction plant and equipment, which shall mean the cost of replacement of the insured items by new items of the same kind and capacity.
• Any extension of the contract period may be considered subject to advance notification to the company in writing and submission of relevant documents.
• Underinsurance - if the sum insured stated in the Schedule is less than the amount required to be insured at the time of loss, you are deemed to be self-insuring for the difference. The average condition shall apply in event of a claim.
• Excess - is the amount of loss that you have to bear in event of a claim.

4. What are the major exclusions under this policy?
This policy does not cover certain losses, such as:
a) loss or damage due to faulty design, defective material or casting, bad workmanship other than faults in erection.
b) wear and tear, corrosion, oxidation, incrustation
c) consequential loss of any kind or whatsoever including penalties, losses due to delay, lack of performance, loss of contract.
d) loss, damage or liability caused by or arising out of :
• war, riot, strike, civil commotion
• nuclear reaction, nuclear radiation or radioactive contamination
• willful act or willful negligence of the Assured or of his representatives
• cessation of work whether total or partial
(Note : This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.)

5. Can I cancel my policy and how do I cancel it?
There is no cancellation provision under this policy.

6. What do I need to do if there are changes to my contact details?
It is important that you inform us of any changes to your contact details. This is to ensure that all the
correspondence will reach you in a timely manner.

7. Where can I get further information?
Should you require additional information about our Erection All Risks insurance or any other types of insurance products, you may contact ACPG. Alternatively, you may visit our website at www,acpgconsultant.com.

Civil Engineering Completed Risks Insurance Malaysia

This Civil Engineering Completed Risks Insurance coverage policy provides cover for loss or damage to completed civil engineering properties or structures such as road, bridges, tunnel, dam and etc. Coverage is only granted for material damage to the structures insured and only repair costs are indefinable.

The Civil Engineering Completed Risks Insurance policy covers the following perils:

• fire, lightning, explosion, impact by land borne/water borne vehicles
• impact of aircraft, aerial devices
• earthquake, volcanism, tsunami
• storm
• flood, inundation, wave action, water
• subsidence, landslide, rock-slide
• frost, avalanche, ice
• vandalism

Duration of Civil Engineering Completed Risks Insurance cover is for one year. You need to renew your insurance policy annually.

Performance Bond Insurance

A Performance Bond is to ensure that contractors faithfully carry out the terms & conditions of a written contract. The amount of the bond will be recovered by the principal should the contractor fail to perform in accordance with the terms of the contract.

Contractors' All Risks / Erection All Risks Insurance

ACPG offers two types of engineering insurances for construction and erection works. Contractors' All Risks policy (CAR) is used to cover civil works whilst Erection All Risks (EAR) policy is used to cover mechanical and electrical works.

Scope of Cover

Both policies provide the most comprehensive insurance protection on an 'all-risks' basis that generally cover loss or damage due to fire, lightning, water damage, flood, storm/tempest, subsidence, landslide, cyclone, hurricane, earthquake, volcanic eruption, burglary and theft, explosion, spontaneous combustion, heating, fermentation, impact and aircraft damage.
In general, it is possible to extend the standard policy to cover strike, riot and civil commotion, inland transit, overtime, night work and express freight expenses, air-freight, cross liability, maintenance
visits /extended maintenance among others.
General policy exclusions are the deductibles stated in the schedule, consequential losses and liquidated damages, willful act or willful negligence of any official of the Insured, corrosion, non-observance of trade rules, war and terrorism risks, faulty design amongst others.

 

 

 

Comprehensive General Liability (CGI) Insurance Policy
Introduction :
The Comprehensive General Liability Insurance (CGL) coverage is usually purchased by contractors who undertake contract of works or services for mainly Oil and gas related industry and other industries such as Telecommunication, Power plants, Engineering, IT related etc. per the requirement in the respective contract if and when they are awarded with the contract.

Contractor must produce a CGL Policy to the principal before commencement of works.

Scope of Cover:
The CGL insurance Policy indemnifies the insured against his legal liability for property damage or bodily injury to a third party caused by an accident while carrying out the works which takes place in the coverage territory during the policy period.
CGL coverage is a very broad form and extensions can be granted under the coverage.
In addition, the policy will indemnify the insured for defense costs and expenses incurred in respect of a claim to which the policy applies.
The limit of indemnity is inclusive of defense cost and expenses incurred in respect of a claim to which the policy applies

Policy Form:
CGL Policy form is an occurrence policy form

Automatic Extensions:
• Contractual Liability
• Sudden and Accidental Pollution
• Damage to Principal’s Existing Property
• Excess Automobile Liability
• Cross Liability
• Waiver of subrogation

Additional Extensions as and when required for a Sub limit & for an additional Premium:
• Personal Injury Liability
• Product and Completed Operation

The information provided above is intended as a summary only. For full details of cover, conditions and exclusions please refer to ACPG Insurer Comprehensive General liability Insurance policy wording.

Please Download ACPG Company Profile here!!

Contractors All Risks Insurance Policy
This policy from ACPG General Insurance is designed specially for those companies who deal with construction jobs. Under this policy the company is insured against all the risks or damages that they may encounter right from the start of the project till its conclusion.

The terms of the policy are clearly stated in the document provided to the client and he is expected to agree to the terms before entering into the contract.

The policy secures the company against any unexpected and unfortunate accident or loss during the course of the construction work, excluding a few situations which are precisely mentioned in the policy document.

The policy protects the constructed object as well as the equipment used in the process. It is also valid for any temporary constructions that are made on the site in case the need arises. In addition there are various other benefits offered to the client which he may opt for at his discretion which is unique to ACPG General Insurance.

Erection All Risks policy can be opted for to secure the people and machinery involved in the erection of any structure.

This protects all these things from any damage or harm not only while at work but also if they are being stored or transferred to another place. It provides insurance for accident caused to an outsider as well if it is caused by the insured object.

The Advanced Loss of Profits policy offers insurance on the capital invested and provides returns for any loss incurred due to a delay or accident in the construction caused by an insured object.

Erection All Risks Insurance Policy

Malaysia

By ACPG Management Sdn Bhd (ACPG).

Erection All Risks Insurance
The policy covers all kinds of erection and testing on individual machine, industrial machinery, industrial plants, steel works and/or structure as well as third party property and/or bodily injury arising in connection with the erection work.

The cover may include Civil Engineering Works, Equipment for Erection, Removal of Debris, Professional Fees and Principal’s Existing Property.

Duration of cover corresponds with the contract period which is stipulated in the Letter of Award.

Loss Of Profit Following Machinery Breakdown Insurance
This policy is designed to provide coverage for loss of gross profit due to business interuption caused by an accident indefinable under Machinery Breakdown Insurance. The loss of gross profit is as a result of reduction in turnover due to decreased in production and increased in cost of working.

Boiler & Pressure Vessel Insurance
A boiler or pressure vessel stores substantial energy which on being released by explosion causes extensive damage and sometimes injury. Therefore protection is needed against serious consequence of a major boiler or pressure vessel explosion.

This policy provides coverage for Boiler or Pressure Vessel caused by and solely due to explosion of any boiler or pressure vessel insured whilst in the course of ordinary working.

Contractor's All Risks
This policy is designed to provide protection against loss or damage in respect of the contract works at contract site and third party claims arising in connection with the construction of a project.

With additional premium, the cover may include Construction Plant and Equipment, Construction Machinery, Removal of Debris, Professional Fees and Principal’s Existing Property.

Duration of cover corresponds with the contract period which is stipulated in the Letter of Award.

Contractors' Plant & Machinery Insurance
This policy provides coverage for the plant and machinery used by the contractors at the site for various projects. It provides protection against loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement.

The sum insured should equal to the cost of replacement of the same kind and capacity via cost of replacement including freight, dues and customs duties plus cost of erection.

Deterioration of Stock In Cold Storage Insurance
This policy provides coverage against loss due to deterioration of stock in the cold-storage rooms following from material damage to the refrigeration plant which is indefinable under the Machinery Breakdown Insurance.

Electronic Shield Insurance
This policy provides protection against loss or damage to equipment which are electronically dominant.

The policy comprises 3 sections as follow:
SECTION 1 MATERIAL DAMAGE COVER
Cover all electronic equipment against all unforeseen and sudden physical loss or damage to the insured items which have not expressly excluded.

SECTION 2 DATA MEDIA COVER
Cover the Data Media such as disks and tapes external to the computer system due to material loss or damage which is indemnifiable under Section 1 of the policy.

SECTION 3 INCREASED COST OF WORKING
Provide indemnity for additional expenditure incurred for cost of hiring equipment following material loss or damage which is indefinable under Section 1 of the Policy.

Civil Engineering Completed Risks Insurance
This policy provides cover for loss or damage to completed civil engineering properties or structures such as road, bridges, tunnel, dam and etc. Coverage is only granted for material damage to the structures insured and only repair costs are indefinable.

The policy covers the following perils:

• fire, lightning, explosion, impact by land borne/water borne vehicles
• impact of aircraft, aerial devices
• earthquake, volcanism, tsunami
• storm
• flood, inundation, wave action, water
• subsidence, landslide, rockslide
• frost, avalanche, ice
• vandalism


Machinery Breakdown Insurance
This policy provides insurance cover for sudden and unforeseen physical damage or loss to the insured machine whilst either at work or rest and during cleaning, inspection, over-hauling or removal to another position within the premises. It covers all "accidental" damage or loss from any causes except those specifically excluded in the policy.

Storage Tank Insurance
Provides protection against sudden and unforeseen physical loss or damage to storage tanks caused by bursting, splitting, rupture or collapse. The policy can be extended to covers loss of contents contained in the storage tanks and must be directly resulting from any material damage to the storage tank which is indefinable.

Erection All Risk Insurance Policy
Under the Erection All Risk insurance policy of ACPG General Insurance the client is offered insurance against all the possible dangers he may have to face in the construction business. It covers the different risks involved in erecting structures, testing their strength and commissioning them.

The insurances offered under this plan include insurance of goods or articles being transported from one place to another by all means except air, customs duty, insurance of the equipment being used by the contractor on the insured site, storage risks of articles on site, liability towards a third party and expenses for the removal of debris.

The policy also covers the expenses in case testing operations take longer than was anticipated and if there are losses to the client due to delays or disturbances in the process of the business.

The advantages of the Erection All Risk insurance policy of ACPG General Insurance are plentiful no doubt but there are also a number of reasons the plan will not function for. In case of damages caused by war operations, intentional destruction of property, damages incurred due to the carelessness of workmen etc. the plan stands null.

In addition if the client is involved in legal issues or causes some damage to the surrounding area that is not insured then too the policy is not liable to pay the expenses.

The Erection All Risk insurance policy of ACPG General Insurance is an erection cum storage policy and so deals with the insurance of those things alone. The client is advised to read the terms carefully before signing the agreement.

 

 

 

 

Performance Bond Insurance Policy

(Insurance Guarantee) By ACPG.

Bond
Bond is an instrument to guarantee the performance of the Contractor in fulfilling the contractual obligations/ responsibilities as required by the Principal (in a construction or construction-related contract).

In the event of default of the said contractual obligations/ responsibilities by the Contractor, the Principal shall be entitled to demand the amount of the Bond and the Insurance Company shall pay the said amount guaranteed accordingly. The Insurance Company, in turn, shall recover the losses from the Contractor and the guarantors.

Bond can be issued either in the form of a Bank Guarantee or an Insurance Guarantee.

Tender Bond
This is required by a Contractor in connection with the submission of tender for a contract job to the Principal.

The purpose of the Bond is to guarantee the Contractor submits a bone-fide tender, stands by it, and is capable of providing a Performance Bond in the event the said Contractor's tender is accepted by the Principal.
Performance Bond
This is required in the event a Contractor's tender is accepted by the Principal and a Letter of Award is issued.

The purpose of the Bond is to guarantee the Contractor is able to fulfill the contractual obligations towards completion of the contract.
Advance Payment Bond
This is required in the event a Contractor is applying for an advance payment from the Principal to help funding the preliminary costs and mobilization works of the contract.

The purpose of the Bond is to guarantee the Contractor is able to make repayments for the advanced money. The mode of repayment is through deduction/recoupment from subsequent progress payments, the quantum of which is determined by the Principal.

This type of Bond is only applicable for Government contracts only.

BOND INSURANCE

Introduction
Bonds which may be required in almost every sphere of inter-personal and inter-corporation transactions are very wide in scope. Generally speaking, it is not a form of insurance business but because of the fact that insurance companies are financial institutions, their bonds are acceptable hence the involvement of insurance companies in bonding business, particularly those bonds which can generate other classes of insurance business for example bonds business which are secured together with other project insurance like the contractors’ Erection All Risk, Public Liability and Workmen’s Compensation insurance.
Under the PIAM’s bond underwriting guideline , the total bond business which an insurer can underwrite is limited to 5% of the total gross premium of the company based on the previous financial year ( not restricted to new business only but can include extension of existing contracts ie on total )
There are certain peculiar features in bond:-

A bond once given, cannot be cancelled before its expiry date

All bond issued to contractors for government projects are demand bonds and we worded in such a way that they can be invoked by holder of the bond without any reason and explanation. Insurer is obliged to pay upon demand notwithstanding any dispute or protest by the contractor or insurer or any third party.

Contract Guarantee / Bond Insurance
Bonds, which may be required in almost every sphere of inter-personal and inter-corporation transactions, are very wide in scope. Generally speaking, it is not a form of insurance business but because of the fact that insurance companies are financial institutions, their bonds are acceptable, hence the involvement of insurance companies in bonding business, particularly those bonds which can generate other classes of insurance business for example, bonds business which are secured together with other project insurances like the Contractors'/Erection All Risks, Public Liability and Workmen's Compensation insurance.

Under the PIAM Bond Underwriting Guidelines, the total bond business which an insurer can underwrite is limited to 5% of the total gross premium of the company based on the previous financial year (not restricted to new business only but can include extension of existing contracts, i.e. on total).

There are certain peculiar features in Bonds:

A bond once issued, is non-cancellable before its expiry date.
All bonds issued to contractors for government projects are demand bonds and are worded in such a way that they can be invoked by the holder of the bond without any reason and explanation. The Insurer is obliged to pay upon demand notwithstanding any dispute or protest by the contractor or insurer or any third party.

The most common types of bonds in use in connection with the construction industry are :

Bid or Tender Bond
Performance Bond
Advance Payment Bond (for government contract only)

Definitions

Types of bonds


Bid or Tender Bond

This is a guarantee required in connection with the submission of tenders for contract jobs with Public Authorities or Private Principals where relevant.

The bond value is usually a fixed amount determined by the Principal.

The main objective of this bond is to guarantee that the contractor who is awarded the contract will accept the Contract at the terms that was submitted by him to the principal. If he is unable to maintain his quotation, the Bond will be liquidated and the principal will request the surety to pay for the damages sustained up to the amount of the bond.

Performance Bond

This type of bond is usually required by the Principal to ensure that the Contractor fulfills his contractual obligations e.g. within the period specified or in accordance with the conditions of the contract.

The bond value is usually 5% of the contract value but this may vary.

If the Contractor does not complete the contract within the time specified and if no extension in the period is allowed, then the Bond or Guarantee is liquidated.

Advance Payment Bond (for Government Contract only)

This type of bond is only allowed for Government Contracts under the Persatuan Insurans Am Malaysia (PIAM) - General Insurance Association of Malaysia: Bond Underwriting Guidelines.

This is required when a Contractor applies for an advance payment from the Principal to help in the funding of the preliminary costs and mobilisation works of the contract.

The bond value ranges from 15% to 25% of the total contract value.

Foreign Workers Bond

This guarantee is required by the Immigration Department from an employer under Regulation 21 of the Immigration Regulations. It guarantees to pay the Director General of Immigration of Malaysian up to a maximum aggregate sum of the bond value, in the event that any of the foreign worker(s) is/are to be repatriated back to their home country in the course of their employment in Malaysia.

The duration of the bond and bond value for each foreign worker is fixed by the Immigration Department and it varies from country to country.

INSURANCE GUARANTEE (IG)

WHY INSURANCE GUARANTEE (IG)?

When the employer gets Kdn approval to employ an expatriate or artist to come into Malaysia to work for them, the employer needs to get Insurance Guarantee (IG) before immigration Department approves and issue a calling visa & work permit.

IG is one of the compulsory documents required by Immigration Department.

GUARANTEE AMOUNT REQUIRED

The amount of Guarantee is according to Nationality

SINGAPORIAN – RM200

THAILAND, COMBODIAN, – RM250

INDONESIAN,BANGLADESHI – RM500

PAKISTANI, INDIAN, MYANMAR, SRI LANKAN, PHILIPINE,- RM750

JAPANESE – RM1,000

KOREAN, BRITISH, FRANCE, CANADA, HONG KONG, CHINA, HAITIENNE – RM1500

RUSSIAN, USA, COLUMBIAN – RM2000

GUARANTEE PERIOD: FROM 13 MONTHS TO 26 MONTHSNormally, Immigration Department required 13 months duration of guarantee.
PROCESSING DURATION
We can cover and deliver the Bank Guarantee in *1 working day.
(*SUBJECT TO AVAILABILITY AND PLEASE REFER TO OUR PERSON IN CHARGE).
Minimum information require for insurance guarantee (IG)

Name of employer

Address of employer

Name of the expatriate

Passport number of the expatriate

Nationality of the expatriate

Place of Immigration

Bank guarantee duration that require.

Corporate Insurance

A comprehensive coverage that protects your business from the beginning. The following are some common coverages:

• Property Insurance
• Construction & Engineering Insurance
• Liabilities Insurance
• Group Employee Benefits Program

Contractor All Risk Malaysia

The Contractors All Risks Insurance offers comprehensive coverage for all types of civil construction risks. This policy covers physical loss or damage to property, as well as third party liability related to work conducted on the contract site.
Cover includes: The coverage for physical loss or damage to property is on an "All Risks" basis, i.e. the policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specified excluded perils and forms of damage. This cover includes works brought on to the site for the purposes of the contract as well as temporary works erected or constructed on-site. Additionally, the policy includes coverage for physical loss or damage to construction plant & machinery, equipment and tools used per the insured contract.
Third party liability: This policy also includes third party liability coverage. This insures against accidental bodily injury or illness to third parties as well as accidental loss of, or damage to property belonging to third parties, caused by an accident at the construction site. The policy also indemnifies for legal costs and expenses recovered by a claimant from the insured.

 

 

Malaysia Workmen’s Compensation Insurance

PRODUCT DISCLOSURE SHEET
WORKMEN’S COMPENSATION
(Please read this Product Disclosure Sheet before you decide to take out a Workmen’s Compensation Insurance Policy.

Be sure to also read the general terms and conditions stated in the policy).

1. What is this product about?
This policy covers you as an employer in respect of your statutory liability under the Workmen’s Compensation Act as well as at Common Law to your employees who are not covered by the Social Security Organisation (SOCSO) as provided for under the Employees Social Security Act 1969.
As an employer, you could be held liable due to:
• personal negligence
• failure to provide a safe place and a safe system of work
• failure to exercise reasonable care in recruitment of competent staff
• failure to provide proper machinery and maintain them in good working order

2. What are the covers / benefits provided?
This policy indemnifies you against all sums for which you shall be liable to pay compensation to your employees
• for personal injury sustained by accident or disease arising out of and in the course of his/her employment under
a) the Workmen’s Compensation Act 1952, and subsequent amendments to the Act, or
b) at Common Law
• In addition, all costs and expenses incurred with the written consent of the company in defending any claim for such compensation.
Duration of cover is One year. You need to renew your insurance policy annually.

3. How much premium do I have to pay?
The total premium that you have to pay may vary depending on the Estimated Annual Earnings declared, the Common Law Limit required, the nature of occupation of the employees insured and the underwriting
requirements of the company.

Common Law Limit
Estimated Annual Earnings
Rate Applicable _____________% on Estimated Annual Earnings
The estimated total premium that you have to pay is: RM___________

4. What are some of the key terms and conditions that I should be aware of?

Some of the key terms and conditions that you should be aware of are:
• Duty of disclosure - you must give all the facts in your application form fully and faithfully otherwise your policy may be void.
• Change in Risk - you must inform the company or your agent in writing on any material changes during the policy period so that the necessary amendments are endorsed into your policy.
• Duty of Assured - you shall take reasonable precautions to prevent accidents and disease and shall comply with all statutory obligations.
• You must maintain proper records of each employee and declare to the company their wages and earnings truthfully, otherwise in the event of a claim, the average condition in the policy shall apply.
• You shall not incur any expense or make any payment, settlement or arrangement in respect of any claim under this policy without the written authority/confirmation of the company.

5. What are the major exclusions under this policy?
This policy does not cover :
• any employee who is not a "workman” within the meaning of the Law(s)
• your liability to employees of Contractors.
• any injury by accident or disease sustained outside the Territorial Limit
• any liability assumed by agreement
• any injury by accident or disease attributable to war, nuclear weapons material, ionizing, radiations or
contamination by radioactivity from any nuclear fuel
• any liability of whatsoever nature attributable directly or indirectly to HIV (Human Immunodeficiency Virus) and/or any HIV related illness including AIDS and/or any mutant derivatives or variations thereat.
(Note : This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.)

6. Can I cancel my policy and how do I cancel it?
You may cancel your policy at anytime by giving written notice to our company in which case we shall retain the customary short period rate for the time the policy has been in force. Upon cancellation, you are entitled to a refund premium subject to the minimum premium to be retained by the company. No refund of premium will be allowed if there is a claim under the policy..

7. What do I need to do if there are changes to my contact details?
It is important that you inform us of any changes to your contact details. This is to ensure that all the
correspondence will reach you in a timely manner.

8. Where can I get further information?
Should you require additional information about our Workmen’s Compensation insurance or any other types of insurance products, you may contact us directly at your convenience. Alternatively, you may visit our website at www.acpgconsultant.com

Workmen’s Compensation Insurance Malaysia

This policy covers you as an employer in respect of your statutory liability under the Workmen’s Compensation Law(s) as well as at Common Law to your employees who are generally not covered by SOCSO.

This policy indemnifies you against all sums for which you shall be liable to pay compensation to any employee for personal injury sustained by accidents or occupational diseases arising out of and in the course of his employment under:

The Workmen’s Compensation Act 1952 and the subsequent amendments to the Act or
The Common Law. The standard Common Law limit is RM1,000,000 any one accident and in the aggregate

ACPG MANAGEMENT SDN BHD

www.acpgconsultant.com

We (ACPG), provided all classes of insurance services more than 23 years in Malaysia (since year 1989).

We (ACPG) One of The Largest General Insurance (Individual & Commercial Insurance) Solution Service Provider in Malaysia.

Any enquiry, email to enquiry@acpgconsultant.com or Call our Careline : +603-9286 3323.

Please Download ACPG Company Profile here!!

Please ACPG Corporate Video for Malaysia Commercial Insurance (Business Insurance) and Malaysia Individual Insurance (Personal Insurance).

For ACPG Corporate Video posted on YouTube

at http://youtu.be/hwWKPU003gE for Malaysia Commercial Insurance (Business Insurance) and

at http://youtu.be/0hN64xcYgrI for Malaysia Individual Insurance (Personal Insurance).