MOTORISTS with a low-risk assessment profile will enjoy lower premiums under the newly liberalised motor insurance tariffs, said Second Finance Minister Datuk Seri Johari Abdul Ghani.
The policy, which came into effect on July 1, would have a positive long-term impact, he said.
“Under the previous system, when an insurance company experienced losses, it would try to increase insurance premiums. This was unfair to low-risk drivers who committed fewer traffic offences,” he said in reply to a supplementary question from Dr Izani Husin (PAS-Pengkalan Chepa).
Following the liberalisation, the premium amount will be determined by risk factors which may include the driver’s age and gender, the vehicle’s age, claims record and even traffic violation history.
Johari said the Government would monitor the implementation of the policy until 2019.
Source : http://www.thestar.com.my/news/nation/2017/07/25/good-drivers-to-enjoy-more-insurance-benefits/#rkbGMJ52XiYVpiEJ.99