PETALING JAYA: The General Insurance Association of Malaysia (PIAM) is intensifying its collaboration with major stakeholders to reduce road accidents by 20% for 2018 and 50% from 2020, its chairman Antony Lee said.
The phased liberalisation of motor insurance tariffs has been going smoothly and the National Consumer Education Campaign has heightened awareness among the public on the benefits to consumers.
He said motorists may be rewarded with lower insurance premium rates by being safe drivers and a responsible car owners but accident rates remain alarmingly high.
Lee said the fatality index in 2017 stands at 2.34 compared with 2.59 in 2016, despite a reduction. PIAM aims to achieve an index of 2.0 for every 10,000 registered vehicles.
Its chief executive officer Mark Lim said the trend of accidents and fatalities caused by heavy and commercial vehicles is worrying, although consumer education is important, enforcement is equally crucial.
“The insurance industry supports the Kejara System as any information on errant and high-risk drivers will be useful. We look forward to working with government agencies to help reduce the national road accident rate.
“Motor insurers currently pay out RM14.7 million per day in claims. This is a staggering amount and cannot be sustained,” he said.