Insurance Non-Payout. What Can You Do In Malaysia?

A MUST READ IF YOU HAVE PURCHASED GENERAL INSURANCE FROM ANY COMPANY

Sorry I have not updated the blog in a long time. I do not like to taint my happy blog with petty and disgusting issues but here is one I think everyone should know.

Here's the deal. Before I tell you what to do, you must know where I am coming from.

As many of you may or may not know by now, my husband runs a IT retail business. Here is a man who completed secondary education, worked his ass off for 7 years in that field, and finally, after he collected enough money and connections, ventured out on his own and create a small business to call his own. I am so very proud of him.

His business is his baby. He literally gave birth to it. When we were married, his business naturally becomes my adopted child. Like it or not, I ended typing letters, brainstorming ideas, completing admin work, issuing cheques, etc. We are going to raise this child together. I am a simple woman, but don't fucking mess with my babies.

Breathe. Let me start my story with a proper introduction.

For any retail in business in Malaysia, you must have insurance coverage. These usually includes burglary, fire and public liability. Come on la, we all know Malaysia's security sucks. So this means big bucks for insurance companies.

We bought our policy for burglary from Agent A in  2009. Now, Agent A is well versed in life and investment policies but she is a family relation, we trusted her. So, she used her boss, Agent B's license to purchase the policies for us.

Since Agent A is not well versed in this field, she did not clarify the clauses and the site surveyor also did not inform us this:

YOUR ALARM SYSTEM MUST BE  LINKED TO A CENTRAL MONITORING SYSTEM (CMS)

So,
alarm system: checked
back door reinforcement: checked
infrared sensors: checked
CMS: Do not inform clients. Checked

Lesson Number One: 
READ YOUR POLICY CLEARLY. TODAY. ASK FOR THE COVER NOTE AND THE QUOTATION FORM YOUR AGENT. GO THROUGH EVERY SINGLE WORD.

Even when we renewed the policy in 2012, it was not mentioned. Just Pay.

After the burglary took place on 17 th July 2013, they sent an adjuster over. This dude came in his motorcycle and took a statement from my husband in ENGLISH AND MALAY. When my husband mentioned that his mobile was not triggered, since it would only trigger the branch manager, Mr T, mobile. The adjuster wrote down, ALARM SYSTEM NOT FUNCTIONING. Given the poorly written report, my husband's confusion with the poorly structured sentences, he signed the report.

Lesson Number 2:
DO NOT SIGN THE ADJUSTER'S REPORT. READ IT TWICE OR THRICE. IF THERE IS A  COMMUNICATION BREAKDOWN. ASK THEM TO SEND A DIFFERENT ADJUSTER. 

TAKE A VIDEO OF THE ADJUSTER. OUR  SELF PROCLAIMED PROFESSIONAL AKA CSI: 
1. DID NOT TEST THE ALARM PANEL.
2. DID NOT TEST THE ENTRY POINT.
3. DID NOT TAKE STATEMENT FROM MR T
4. DID NOT TAKE STATEMENT FROM  NEIGHBOURING SHOP (24 HOUR CONVENIENCE STORE)
5. DID NOT TAKE STATEMENT FROM PET SHOP OWNER WHO HEARD THE ALARM AT 3 AM

CSI?????? *Insert spitting image*

They rejected the claim based on
1. Alarm system not functioning
2. CMS takde.

Our reaction was obviously WTF?

They sent a second adjuster in Oct 2013, who tested the alarm (it was working), given him a maintenance log (which he misplaced), given him the alarm conpany number for verification (which he did not call)
How professional right?
In the 6 months, he called up the alarm guy, Mr AL, once. That would be in January 2014, two days before we meet with the senior management of the insurance company. Professional? CSI?You be the judge

When we met the senior management, MR H and MR L, they were clearly not there to discuss. Rather, they were there to condemn us for using an alarm company with a common director.
We were scolded for not being forthcoming about it. It was CONFLICT OF INTEREST
HELLO? Why is it even RELEVENT?
So, if the boss of Bentley was in a Bentley when he met with an injury, will you compensate his injury and reimbiurse his medical claims?
If your father is a farmer and the farmer's son got sick from the food his father planted, will there be conflict of interest?

LESSON No. 3: DON'T EAT YOUR FATHER'S POTATOES. I DON'T CARE HOW TASTY AND JUICY THEY LOOK

WHAT CONFLICT OF INTEREST????? I called up Bank Negara, they laughed and said no.

I was pissed because of the way he dismissed the CMS issue, we were misguided and misinformed.

If we were told to link our alarm system to a CMS company which will cost us only RM 2.50 a day, there will not be a claim issue. It just looks like a trap. I wonder how many have fallen into a similar one?

Instead of admitting the had mislead us as clients, they turned on us and ended the day with Mr H saying, in his BRITISH ACCENT:

THIS IS MY FINAL DECISION, WE ARE REJECTING YOUR CLAIM. THERE IS A CONFLICT OF INTEREST HERE. I THINK WE SHALL REPORT THIS TO BANK NEGARA, SHALL WE, MR L? YES. *snotty, fake high class tone*
MR L, PLEASE WRITE THE REJECTION LETTER.
YOU CAN SUE ME OR DO WHATEVER YOU WANT. I WILL BE HERE.

The &*^%&T$& arrogant idiot. THIS IS HOW YOU TREAT CLIENTS?

Not only should your company be embarrassed, you mother should be too.

So, I did whatever I want. I called bank negara. They thought Mr H was very amusing.

Then I also, did this. Held a press conference with YB Eric Lim from DAP. This is from Guang Ming Daily, Sunday, 12 January 2013. Call it civic consciousness. We can afford to lose the money from the burglary but we cannot lose our fight for justice and righteousness.

If you are very low profile,  you can complain to:

 Persatuan Insurans Am Malaysia

3rd Floor, Wisma PIAM,
150, Jalan Tun Sambanthan,
50470, Kuala Lumpur.
P.O. Box 12555,
50782 Kuala Lumpur

Tel: 03-2274 7399
Fax: 03-2274 5910

Email: piam_sec@piam.org.my

Financial Mediation Bureau

The Financial Mediation Bureau
Level 25, Main Block
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur.
[ For walk-in complaints, please proceed to level 14 ]

Tel : 03-2272 2811 Fax : 03-2272 1577

Complaints Mgmt Unit : Ext 206/207

Email at enquiry@fmb.org.my

Bank Negara Malaysia

Insurance company are finanacial instutuition.

Now you know why they are money making machines, hor?

Contact Centre (BNMTELELINK)
Laman Informasi Nasihat dan Khidmat (LINK)
Bank Negara Malaysia
P.O. Box 10922
50929 Kuala Lumpur

Tel : 1-300-88-5465 (1-300-88-LINK)
(Overseas: 603-2174-1717)
Fax: 603-2174-1515
E-mail: bnmtelelink@bnm.gov.my
SMS : 15888

Operating Hours: 9.00 a.m. - 5.00 p.m. (Monday - Friday)

Please help me to get the word out.
People must know how to defend themselves.
You are not helpless.