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Insurance coverage for Southern Johor SMIs

[ 29-09-2007 ]

(Friday September 21, 2007)

By TEH ENG HOCK

JOHOR BARU: The Southern Johor Small and Medium Industries Association signed a memorandum of understanding (MoU) with Ace Synergy Insurance Berhad, where the latter will offer general insurance to members of the association.

Under the agreement, ACE Insurance will assess the insurance needs of the association's 400 members and cover their risk management needs.

ACE Insurance will also provide complimentary personal accident (PA) cover to all members for the period of 12 months; this includes protection against accidental disability for up to RM50,000.

ACE Insurance chief executive officer and managing director Raj Nanra said he was happy to see the association help raise awareness on risk management among businessmen.

"SMI (Small and Medium Industries) is a fast growing industry and risk management is an important aspect to ensure the sustainability and longevity of the business," he said.

State International Trade and Industry, Energy, Water and Telecommunications committee chairman Tan Kok Hong, who witnessed the ceremony, said insurance played a vital part in business nowadays as the risks faced by businessmen are rising.

"To compete, you have to face up to the global challenge, and that means facing more risks. So it is important that you have insurance to protect yourself," he said.

source:
http://biz.thestar.com.my/news/story.asp?file=/2007/9/21/business/20070921152119&sec=business