letter01

Jacky Bong
Lot 2747, Milea Residences Phase 2,
Parkcity Eastwood Miri 98000,
Miri, Sarawak.
Phone: 01129991688
Email: Mrjky76@gmail.com

22 November 2025

To:
Complaints Action Bureau
Persatuan Insurans Am Malaysia (PIAM)
Level 3, Wisma PIAM,
No. 150, Jalan Tun Sambanthan,
50470 Kuala Lumpur.

(Copy to Insurer)
Tokio Marine Insurans (Malaysia) Berhad
Level 20, Menara Hap Seng 3,
Plaza Hap Seng, No. 1, Jalan P. Ramlee,
50250 Kuala Lumpur.

FORMAL COMPLAINT AGAINST TOKIO MARINE INSURANCE - UNFAIR CLAIM SETTLEMENT AND BAD FAITH CLAIMS HANDLING

Policy Number: Cover Note ED054281
Claim Handler: Chin Yun Kwai
Incident Date: 16 August 2025

Dear Sir/Madam,

I am writing to lodge a formal complaint against Tokio Marine Insurance regarding an ongoing motor claim dispute that reflects unfair claims practice, lowball settlement tactics, and failure to honour the indemnity principle expected of a licensed insurer in Malaysia.

I have already attempted to resolve this matter directly with the insurer; however, all attempts have failed. Therefore, I am formally seeking PIAM intervention before escalating to the Ombudsman for Financial Services (OFS) or Bank Negara Malaysia (BNM).

Details of Complaint:

1. Unfair Lowball Settlement:
The insurer offered RM 2,000, claiming it is sufficient to repair my vehicle, despite a professional workshop quotation of RM 13,000 for proper restoration with original parts.

2. Component Replacement Principle:
Vehicle components function as assemblies, and damaged parts must be replaced entirely, not patched based on surface area.

3. Grotesque Undervaluation:
Original parts cost significantly more, and the insurer's RM 2,000 offer is unrealistic and contradicts the indemnity principle.

4. Betterment Waiver Ignored:
I purchased the highest-tier policy with Betterment Waiver, entitling me to original parts. The insurer is refusing to honour this.

5. Unfair NCD Penalty:
I was not at fault, yet the insurer intends to burn my NCD while refusing to pay a fair settlement.

Requested Actions:

1. Full approval of the RM 13,000 workshop quotation.
2. Inclusion of rear bumper damage in the claim.
3. No NCD penalty applied.
4. Enforcement of fair claims practice by Tokio Marine.

I request PIAM to treat this matter seriously and take appropriate action. I am prepared to provide supporting documents upon request.

Sincerely,


Jacky Bong