To my surprise, I found that the drawers of the tables were open, papers were thrown all over and a rack consisting of tools and equipment estimated at RM30,000/- were all gone.
The benefit(s) payable under eligible product is protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact MSIG Insurance (Malaysia) Bhd or PIDM (visit www.pidm.gov.my).
Take precautions against theft
Break-ins and burglaries of commercial premises pose serious challenges to businesses. For a businessmen who have taken care to insure the stock against fire, but not against burglary should reflect for a moment on the following scenario –arriving at work one morning to discover the premise is broken into, and stocks have disappeared. Such incidents are by no means uncommon, and can bring about huge financial loss to your business.
Insure your business against all possible losses
Your MSIG Burglary Insurance offers coverage if such properties were stolen or damaged by burglars. Loss as a result of armed robbery is also covered. Thieves frequently damage building and such damages would also be covered.
Jess is a retailer of tools and equipment for the automobile industry and has been running his business for more than 10 years. Part of his routine would include dropping his children to school everyday before heading for his shop. On one Friday, he heads to the shop and upon reaching, he found that the padlock securing the front roller shutter was broken. He then lifted up the roller shutter and proceeded into the premises.
To my surprise, I found that the drawers of the tables were open, papers were thrown all over and a rack consisting of tools and equipment estimated at RM30,000/- were all gone.
He immediately called his trusted agent and was advised of the following:-
The agent assisted him with the completion of the Claim Form, and also in the compilation of the documentation required by the adjusters. Six weeks later, he was indemnified for the full loss amount as his Sum Insured was adequate.
MSIG’s Burglary Insurance policy covers:-
Dear Valued Customers,
Please be informed that an 8% Service Tax will be applied for all taxable general insurance policies where the insurance period commences on or after 1 March 2024 or where the insurance period spans across 1 March 2024 (calculated on a pro-rated basis).
MSIG reserves the right to collect any undercharged service tax for policies processed before 1 March 2024 where the insurance period spans across 1 March 2024.
You are obligated to pay any applicable taxes including but not limited to service tax and stamp duty that are imposed by the Malaysian tax authorities in relation to your Policy.
We are in the midst of updating our brochure and product materials to reflect the Service Tax. The materials will be ready in due course.
If you have any queries, please contact our Customer Service Hotline: 1-800-88-MSIG (6744).
Our dedicated Customer Service Officers and staff will be happy to assist with your queries.
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