The increased incidents of stolen vehicles in the county has prompted the Association of General Insurance of Malaysia, the Persatuan Insurans Am Malaysia (PIAM) to set up a database of reported stolen and total loss vehicles. This database will be available early next year as reported by The Star, article below:
KUALA LUMPUR: An online database of reported stolen and total loss vehicles will be available for checking by insurers and takaful operators at all points of sale, said Persatuan Insurans Am Malaysia (PIAM).
This new initiative would come into effect early next year," it said in a statement today.
The move would see more stringent checks for possible stolen vehicles and total loss vehicles that have been reported to insurers and takaful operators before motor insurance cover can be issued, it said.
PIAM said the initiative was needed as the total overall number of vehicles including motorcycles reported stolen to insurance companies and takaful operators had decreased but the number of stolen private cars had increased by 2.5 per cent to 9,703 units last year from 9,467 units in 2010.
The association urged the public to be cautious when buying used cars as they may possibly be buying a stolen or total loss car.
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