A-Essential_JMB_Brochure_EN.pdf (419.87 KB)
1 YEAR, RENEWABLE ANNUALLY
FLATS, APARTMENTS, CONDOMINUIMS AND GATED AND GUARDED STRATA LANDED COMMUNITIES MANAGED BY A JOINT MANAGEMENT BODY (JMB) OR MANAGEMENT CORPORATION (MC)
WHAT IS THIS PRODUCT ABOUT
WHAT DOES IT PROVIDE?
PROTECTION AGAINST LOSS OR DAMAGE TO THE PROPERTY
This plan protects the building from any loss or damage due to fire and other perils. It also provides coverage against breakage of glass or damage to signage and signboard fitted to the insured building within the premises belonging to you as the JMB/MC.
Your management operation as the JMB/MC will be covered against financial loss due to theft, burglary or armed robbery, including loss of money in the premises belonging to the JMB/MC or while in transit. You will also be protected from any loss of money due to fraudulent act committed by your employees.
This plan protects you against legal liability for third party bodily injury or property damage, and any wrongful acts in your conduct as the JMB/MC. It also protects you against your liability at law to pay compensation on bodily injury sustained by your employees in the course of employment.
This plan covers you and your employees against any accidents resulting in death or permanent disablement.
PROTECTION FOR MACHINERY AND OFFICE EQUIPMENT
The plant, machineries and mechanical equipment under the responsibility of the JMB/MC will be protected against any unforeseen and sudden physical loss or damage caused by defects, faulty design, bad workmanship and etc. This plan also provides protection to the office equipments, computers and peripherals belonging to the JMB/MC against loss or damage by any accidental causes unless such perils are specifically excluded.
SUM INSURED- BUILDING COST CALCULATOR
If you wish to get the estimated rebuilding cost of your property to estimate the sum insured, you may use the Building Cost Calculator (BCC) on PIAM's website at the following link http://www.piam.org.my/consumer/industry/building-cost-calculator-bcc/ and complete the questionnaires provided. Please inform the Company if you wish to revise the sum insured. Any revision to the sum insured is subject to the Company's approval.
QUESTIONS ON BUILDING COST CALCULATOR (BCC)
The BCC is introduced to address under-insurance of building Fire and House Owner policies so that policyholders would not be inadequately compensated due to changes on their property value.
The BCC is a tool which provides estimated rebuilding cost based on the information provided by the home owners to estimate the sum insured.
The BCC can be applied to property such as residential properties and simple shop houses/ offices. However, the BCC is not meant for use by individual unit owner of a non-landed property. For properties such as flat, apartment, service apartment, condominium, the BCC is available for use by the JMB of the Property only.
You can click on the following link and complete the questionaires provided : http://www.piam.org.my/consumer/industry/building-cost-calculator-bcc/