P&I Malaysia Incorporated

Perlindungan dan Indemniti Malaysia Sdn Bhd (1156424-T) better known as  P&I  Malaysia, incorporated on  21 August 2015, is the creation of the Government of Malaysia and the brainchild of Ministry of Transport Malaysia (MOT). On 19 December 2018, Cabinet had included P&I Malaysia under  Ministry of  Transport (MOT) followed by a Federal Government Gazette “Ministers of The Federal Government Order 2019” dated 22 January 2019.

National Fixed Premium 

It’s  main  and  primary  aim  is  to  establish  a  marine  mutual  association  as  a  Club or to establish a first ever National Fixed Premium P&I Marine Insurer. The first task entrusted to P&I Malaysia was to create an affordable marine liability insurance scheme to facilitate compliance with the compulsory insurance requirement under the Merchant Shipping Ordinance 1952 (as amended by Act A1393) for small ships below 300 GT.

Phase 1 (First 3 years)

P&I  Malaysia  have now completed Phase 1 (first 3 years) of its operations where its primary role was to create awareness on the third-party liability insurance requirements among small tonnage ship operators and owners whilst promoting safety awareness Peninsular-wide apart from providing affordable insurance policies.

Towards Phase 2 

P&I Malaysia is now working towards Phase 2 and this is where this establishment Special Purpose Vehicle (SPV) intends to  increase  its  underwriting  portfolio  to  include  ships up to 5000 GT. By doing this, the outflow of insurance premiums into foreign  markets  are reduced  significantly whilst strengthening the Malaysian marine insurance and maritime infrastructure and its capabilities.

P&I Malaysia Role

P&I Malaysia’s role also includes building local talent capacity and expertise, cooperation and collaboration with maritime agencies in streamlining maritime administration to improve on enforcement, uniform data collection for  risk  profiling, industry  awareness  and  Malaysia’s  regional  branding  as a  trusted  competent and reliable marine insurance provider, to name a few.

100% backed by Government of Malaysia

P&I  Malaysia is  governed  by  a  Board  of  Directors comprising one representation each from the Ministry of Transport (MOT), Ministry of Finance (MOF), Marine  Department  of Malaysia (MARDEP) , Maritime Institute of Malaysia (MIMA) , Malaysia  Shipowners’  Association (MASA)  and  Port  Authorities (LPJ). These representatives together when its CEO shall ensure this very establishment meet the objectives and ambition of P&I Malaysia.