Malaysia: MTA Members Introduce New Measures for Non-Motor General Takaful Segment

A 60-day extension of the contribution warranty period for its non-motor general Takaful business customers has been introduced by the General Members of Malaysian Takaful Association (MTA). In addition, MTA has also announced other flexible measures in terms of renewal of coverage for non-motor general Takaful business.

According to the changes introduced, Takaful operators will accept requests from participants for an extended contribution warranty period, subject to terms and conditions of the respective Takaful operators. 

MTA stated that the operators will also provide flexible renewal options such as short-term renewals based on a pro-rated contribution amount. Under this schem...