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Announcement

Insurers and Takaful Operators-Repairers Code of Conduct

Malaysia

Bank Negara Malaysia (BNM) has introduced the Insurers and Takaful Operators-Repairers Code of Conduct (the Code) to enhance transparency, fairness, and collaboration in motor claims and repairs. The Code is a cross-sector industry-driven initiative consisting of the general insurers and takaful operators (ITOs), repairers and industry associations such as Persatuan Insurans Am Malaysia (PIAM), Malaysian Takaful Association (MTA) and the Federation of Automobile Workshop Owners’ Association of Malaysia (FAWOAM).

Key Highlights of the Code:

Mandatory Participation for Panel Repairers

  • Panel Repairers must comply with the Code as part of their Service Level Agreements with insurers and takaful operators (ITOs).
  • Non-Panel Repairers may participate voluntarily but are required to adhere to the same standards.

Dedicated Dispute Resolution

  • ITOs are required to establish an Internal Dispute Resolution (IDR) process to manage disputes with repairers in a fair, transparent, and efficient manner.

Improved Collaboration

  • The Code sets out clear terms to promote better cooperation between ITOs and repairers, ensuring faster and fairer motor claims and repair processes for customers.

This Code is designed to strengthen public trust and confidence in the motor claims process, benefiting all stakeholders involved.

For more information, refer to the full Code of Conduct below:

Insurers and Takaful Operators-Repairers Code of Conduct