07 January 2022

All you need to know about the "CSR Flood Relief Fund"

Persatuan Insurans Am Malaysia (PIAM) and its members in response to the recent flooding affecting at least 7 states in the country have set up a CSR Flood Relief Fund (“CSR Fund”) to alleviate the hardship faced by the car owners whose vehicles were inundated under floodwater.

The CSR Fund in the form of subsidy for mechanical clean-up cost (excluding repair) at any competent workshops is provided by the general insurance industry over and above existing commitments by insurers to expedite payment of flood claims settlement, waiver of certain mandatory claims documentations, simplified claims process, additional special relief measures that may be provided by the individual insurer.

How much funding is allocated?
At this stage, the CSR Fund will be closed once the pledged amount of RM2.43 million has been exhausted.

For all types of vehicles?
Any terms and conditions?

The subsidy is given on per vehicle basis that fulfills the following criterias:
  1. Type of vehicle:
    ~ motorcycle,
    ~ private vehicle, and
    ~ commercial vehicle

  2. Any type of motor policy, i.e.:
    ~ Comprehensive Cover with Special Perils Extension;
    ~ Comprehensive Cover without Special Perils Extension;
    ~ Third Party Fire and Theft (TPFT) Cover; and
    ~ Third Party Cover

  3. Motor policy status:
    ~ valid motor insurance at the time the flood occurred; or
    ~ expired motor insurance at the time of the flood occurred but the vehicle was last insured on or after 1 June 2021.

About the subsidy...

The CSR Fund provides a subsidy towards mechanical clean-up works done at workshop for vehicles directly affected by the recent flood.

The subsidy will be based on the actual cost incurred basis and is capped as one-off per vehicle as below:
  1. up to RM100 for motorcycle;
  2. up to RM500 for private vehicle; and
  3. up to RM500 for commercial vehicle.

If the actual cleaning cost for your vehicle is RM200 (inclusive of SST), then only RM200 will be payable. However, if the cleaning cost is RM600, then you are only entitled to RM500 which is the maximum cap amount.

Oh, I see. So good ah... Wait...
Will it affect my insurance No Claim Discount (NCD)?

No worry. This is not a claim paid out under your purchased motor insurance policy, instead, this is a CSR initiative by way of a subsidy by the general insurance industry. So, a successful claim for this subsidy WILL NOT affect your No Claim Discount (NCD).

Okay. Good. How to apply?

Eligible policyholders can apply for the subsidy by submitting online via the portal MyCSR-Flood.my effective from 15 January 2022 by following the simple steps below:
  • Step 1: Log in to the portal at MyCSR-Flood.my

  • Step 2: Complete the policyholder name, contact number, email address (if any), NRIC / Passport / Business Registration number, vehicle number, banking details (for claims payout purpose), vehicle type, date of loss, amount of claim information fields in the portal. No claim form is required. 😍

  • Step 3: Upload pre and post clean up photographs that clearly identify the vehicle including the receipt/cash bill issued by the workshop

  • Step 4: You can check your claim status within 14 days after submission by contacting your insurer

The claim payout to the eligible claimant who fulfills all the CSR Fund eligibility criteria and requirements will be credited directly to the bank account that you provided. If you have provided your e-mail address, you will be notified by email once the payment has been made.

Further information can be accessed through the portal at MyCSR-Flood.my and your insurer which contact details are provided below:

Click here to enlarge

Source: Persatuan Insurans Am Malaysia (PIAM)

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