COVID-19 Pandemic: Insurance and Takaful industry pledges RM8 million fund for COVID-19 testing in support of Ministry of Health’s efforts to conduct more COVID-19 Testing on Malaysians
Three Associations committed to contribute towards a special fund for COVID-19 Testing led by LIAM at RM5 Million, PIAM at RM2 Million and MTA at RM1 million respectively;
Kuala Lumpur, Friday, 27 March 2020 – The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) today pledged an RM8 million contribution to establish a special fund for COVID-19 testing for medical insurance policyholders and medical takaful certificate holders in support of the Ministry of Health’s efforts to conduct more COVID-19 testing on Malaysians.
The philanthropic contribution is part of the industry’s response to urgently address the need to conduct more COVID-19 Testing on Malaysians who are directly exposed to the virus.
LIAM is leading the initiative with a contribution of RM5 million whilst PIAM and MTA contribute RM2 million and RM1 million respectively.
The setting up of the COVID-19 Testing Fund is timely and significant to the industry as it complements the comprehensive relief measures and customer support incentives announced by the industry recently.
As a caring corporate citizen, it is part of the industry’s responsibility to help affected customers to cope with the immediate health effects of the virus and the subsequent economic consequences as well as to enable more Malaysians to undergo the test to help contain the virus from spreading.
The industry is currently working with the Ministry of Health on the RM8 million COVID-19 Testing Fund and hopes to finalise the details within the next few days.