FOMCA President Marimuthu Nadason via Free Malaysia Today Most people don’t have natural disaster coverage because it costs more.Īlthough there are insurance policies that include natural disasters like floods as part of a comprehensive, all-in-one package, there are those that don’t and would charge extra for it to be included. Lastly, floods are becoming more rampant and Malaysians, more specifically from Selangor, have underestimated their severity. Secondly, insurance companies have failed to advise vehicle buyers about this coverage before they purchase their policies. Marimuthu is also of the opinion that Malaysians have undermined the severity of natural disasters such as floods that are impacting the nation.įirstly, the majority of Malaysians are not aware that insurance policies offer optional cover for natural disasters like flooding.
FOMCA said that they would be sending a request to Bank Negara and the government to get them to tell insurance companies to promote natural disaster insurance coverage to the public.
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