The Takaful and Insurance Benefits Protection System (TIPS) is a system established by the Government to protect owners of takaful certificates and insurance policies from the loss of their eligible takaful or insurance benefits in the event that an insurer member fails and is unable to honour the takaful or insurance benefits. Takaful operators and insurance companies that are member institutions of Perbadanan Insurans Deposit Malaysia (PIDM) are also referred to as ‘insurer members’.
TIPS came into effect on 31 December 2010 and is administered by PIDM.
Further information on PIDM and TIPS is available on PIDM website at https://www.pidm.gov.my/
For quick and easy reference on PIDM and TIPS, please refer to the brochures below:
