According to the Malaysian Meteorological Department, the monsoon phase in Malaysia starts yearly from October. As certain parts of Malaysia begin to experience bouts of stormy weather and episodes of flash floods, businesses are encouraged to protect their assets from flood-related losses and damages.

It is important for businesses in flood-stricken areas to review and determine if their insurance is adequate to mitigate any severe financial impacts and business interruption due to losses and damages to the structure and/or contents of their property.

The standard motor and fire policy does not include cover against losses caused by natural catastrophes, such as flood, earthquakes, tsunamis and typhoons. Business owners may opt for optional flood-related loss or damage coverage which can be purchased as an extension to the standard policy.

Heavy rainfall and flash floods in the Seremban district recently have caused extensive damages and left many businesses devastated after their business premises and properties were inundated by floodwaters.

The flash flood was the third this year and the worst. Some business owners have reported estimated losses of RM15,000 or more. For some, especially small businesses, might not be able to withstand such financial impacts. It will be helpful if these businesses have adequate and the right insurance to cover them against these losses and damages.

To know more, we recommend that you contact an insurance professional to assist you. Find out more about different types business insurance and options in our products section today.