The CSR Fund will be in the form of subsidy for mechanical clean-up cost (excluding repair) at any competent workshop.

It is an additional relief to previous commitments by insurers to expedite payment of flood claims settlement, waiver of certain mandatory claims documentation, simplified claims process and additional special relief measures that may be provided by individual insurers.

PIAM said the subsidy is given on a per-vehicle basis for motorcycles, private vehicles including commercial vehicles irrespective of the types of motor policy.

“The motor policy must be valid at the time of flooding and in the event of lapsed motor policies, the vehicles must be at least last insured on or after June 1, 2021. The subsidy will be based on the actual cost incurred and is capped at a maximum of RM100 per motorcycle and RM500 per private or commercial vehicle.”

The subsidy claim will not affect the policy-holder’s No Claim Discount, it said.