Allianz Malaysia Urges Public To Remain Vigilant And Prepared In Event Of Natural Disasters

KUALA LUMPUR, Sept 23 (Bernama) -- Allianz Malaysia Berhad (Allianz Malaysia) urges the public to remain vigilant and prepared in the event of natural disasters following the recent mild tremors in Johor.

The company said in a statement today that it is committed to empowering individuals and businesses with the knowledge and equipment needed to protect their assets from unexpected events.

Allianz chief executive officer Sean Wang said the recent incidents are reminders that natural disasters can occur unexpectedly, which is why the company offers insurance solutions such as Smart Home Cover and Allianz Business Shield, specifically designed to provide comprehensive coverage in a single package.

“At Allianz Malaysia, we are committed to providing comprehensive protection solutions that offer peace of mind to our customers.

"With Smart Home Cover and Allianz Business Shield, our customers can focus on their lives and businesses, confident that these important assets are well protected," he said in the statement.

Allianz Malaysia said under the Smart Home Cover, homeowners and/or householders will be protected against 10 types of unexpected events, including natural disasters such as earthquakes and also incidents like theft, without requiring any additional coverage.

Homeowners are typically required by banks to obtain Mortgage Reducing Term Assurance (MRTA) or Mortgage Level Term Assurance (MLTA) as part of their loan agreement, as a protective measure in case of death or total permanent disability of the borrower, helping to settle the outstanding loan balance.

“However, the MRTA and MLTA only cover individuals, not the property itself, and even though these policies exist, home insurance is still important because it provides coverage for the physical structure of the house as well, depending on the policy, as well as its contents," according to the statement.

Allianz Malaysia said that to ensure full and continuous protection, homeowners should always maintain their specific home insurance policy regardless of their mortgage status.

The company also stated that as a house ages, the risk of issues such as burst water pipes may increase, and such damage is covered under the HomeFix component of the Smart Home Cover.

Meanwhile, business owners can benefit from the Allianz Business Shield which offers convenience by combining various protections such as theft and fire into a single package that can be customised according to the business owner's needs.

To obtain protection from earthquakes, business owners only need to add 0.01 per cent to their total fire insurance, to ensure their business assets are secure.

Given climate change and other factors contributing to unexpected seismic activity, Allianz Malaysia encourages the public to stay informed and act proactively.

"Always stay informed, follow the latest news and warnings about natural disasters. Additionally, regularly review your insurance policies to ensure you have adequate coverage against various threats and adjust your insurance protection according to your specific needs and circumstances," added the statement.

-- BERNAMA