the scarcity of land for development has resulted in the rapid development of strata title properties in Malaysia.
Under the Strata Management Act, a statutory body - Joint Management Body (JMB) or Management Corporation (MC) has to be formed to manage and maintain the subdivided building and common property in the strata development such as Condominium, Apartment, Office or Shopping Mall. One of the many statutory duties that the JMB/MC has is to ensure the building is adequately insured.
We understand the unique needs of JMB when it comes to the management of their residential units, particularly with condominiums and apartments. This insurance scheme provides all-inclusive package insurance for apartment risks, run by Joint Management Bodies (JMB).
Provide coverage on the building including all permanent fixtures and fittings, renovation, outbuildings, common properties and plant and equipment.
Covers the loss or damage caused to all the insured property and valuable items due to theft.
Covers the loss of money whilst in the transit and whilst kept in locked drawers, safe or strong rooms, or due to any hold-up whilst on the insured property.
public liability insurance
Indemnify the insured for accidental breakage of glass in the property as a result of unforeseen incident or misfortune.
Indemnity to all employees and elected committees against loss of money or property as a result of acts of fraud or dishonesty of any employees.
Covers the sudden and unforeseen damage to the insured machinery, plant or equipment whilst either at work or at rest and during the cleaning, maintenance, overhauling, inspection or removal to another position within the premises.