The motor insurance industry is currently going through a de-tariff exercise, which will have a huge impact on how we purchase car insurance. Find out how this will affect your bottom line!
Malaysia's general insurance industry is expecting a flat growth in the second half of the year and next year due to the slowdown in automotive sales.
With the GST, car insurance will go up by 6%. As for road tax, the 6% GST will be taxed on the RM2 post office commission – and not on the road tax amount.
The General Insurance Association of Malaysia (PIAM) clarified that the revision was a continuation of the motor tariff premium rate adjustments under the new motor framework.
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