Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Strata Insurance and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumour, Malaysia.
(O) +603-9286 3323
(F) +603-9282 3232
(E) jmbimcare@jmbinsurance.com.my
www.jmbinsurance.com.my
(FB) www.facebook.com/jmbinsurance
Exclusively Designed for JMB’s or MC only
(Joint Management Body or Management Corporation),
Strata Title Property Insurance and Property Management Liability Insurance
Arranged by
Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Strata Insurance and JMB Liability Insurance Risk Management Advisory Organization
Strata Title Property Insurance and Property Management Liability Insurance
The Building and Common Property (Maintenance and Management) Act 2007(” The Act”) coming into force on 12 April 2007 in the Peninsular Malaysia.
The powers and duties of the JMB are enumerated by Section 8 of the Act which stated
8. (1)(c) to insure and keep insured the building to the replacement value of the building against fire and such other risks as may be determined by the Body;
8. (1)(d) to apply insurance moneys received by the Body in respect of damage to the building for the rebuilding and reinstatement of that building;
8. (3) The Body shall be deemed—
(a) for the purposes of effecting any insurance under paragraph (1)(c), to have an insurable interest in the building equal to its replacement value or any value as determined by the Body; and
(b) for the purposes of effecting any insurance under paragraph (1)(d), to have an insurable interest in the subject matter of the insurance.
Interpretation:
The Joint Management Body must insured the following insurance:
1. Fire & All perils Insurance (Min perils Subsidence & Landslip, RSMD & BOW)
Building – For all the units that is individually own including all the common property.
In this case when the purchaser have a Loan with the Bank, the purchaser need not buy an additional insurance and can use the individual “Certificate of Insurance” issued from the Master policy.
It should include the following clauses:-
Reinstatement Value (valuation report by an accredited quantity surveyor at least once in 5 years)
Removal of Debris
Architect & surveyor Fee
Rent Clause
2. Public Liability Insurance
Legal liability to pay compensation for accidental bodily injury or accidental damage to the property to the Visitors for using the common property of the Building.
Under Section 4 Establishment of a Joint Management Body
(2) The Body established by subsection (1) shall be a body corporate having perpetual succession and a common seal.
(3) The Body may sue and be sued in its name.
(4) The Body shall comprise the developer and the purchasers.
Interpretation:
As the JMB is a body corporate the volunteered committee members can now be sued by the purchasers for Breach of Duty. An E&O or a PL policy to protected the personal liability of the individual committee.
3. Error & Ommission or Professional Liability Insurance
The Insurer will pay on behalf of any Insured all Damages resulting from any Claim for any Breach of Duty of the Insured.
N/B The policy should be placed immediately after the formation of the JMB.
Strata Title Risks Solution:
Products Offered:
Fire Insurance
Fire Consequential Loss Insurance
All Risk Insurance
Crime Insurance ( Burglary & Money Insurance)
Plate Glass Insurance
Machinery Breakdown Insurance
Public Liability Insurance
Property Terrorism
Error & Omission or Professional Indemnity for Joint Management Body (JMB) or Management Corporation (MC).
Malaysia Insurers have offer Strata Insurance, please refer as below listings
AIA Malaysia Strata Insurance
Underwritten By
AIA Bhd
AIG Malaysia Strata Insurance
Underwritten By
AIG Malaysia Insurance Berhad
AXA Malaysia Strata Insurance
Underwritten By
AXA Affin General Insurance Berhad
Allianz Malaysia Strata Insurance
Underwritten By
Allianz General Insurance Company (Malaysia) Berhad
AmGeneral Malaysia Strata Insurance
Underwritten By
AmGeneral Insurance Berhad
Berjaya Sompo Strata Insurance
Underwritten By
Berjaya Sompo Insurance Berhad
Etiqa Strata Insurance
Underwritten By
Etiqa Insurance Berhad
Chubb Malaysia Strata Insurance
Underwritten By
Chubb Insurance Malaysia Berhad
Liberty Malaysia Strata Insurance
Underwritten By
Liberty Insurance Berhad
Lonpac Strata Insurance
Underwritten By
Lonpac Insurance Berhad
MPI General Strata Insurance
Underwritten By
MPI General Insurans Berhad
MSIG Malaysia Strata Insurance
Underwritten By
MSIG Insurance (Malaysia) Bhd
The Pacific Strata Insurance
Underwritten By
The Pacific Insurance Berhad
QBE Strata Insurance
Underwritten By
QBE Insurance (Malaysia) Berhad
RHB Strata Insurance
Underwritten By
RHB Insurance Berhad
Tokio Marine Malaysia Strata Insurance
Underwritten By
Tokio Marine Insurans (Malaysia) Berhad
Zurich Malaysia Strata Insurance
Underwritten By
Zurich Insurance Malaysia Berhad
Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Strata Insurance and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumour, Malaysia.
(O) +603-9286 3323
(F) +603-9282 3232
(E) jmbimcare@jmbinsurance.com.my
www.jmbinsurance.com.my
(FB) www.facebook.com/jmbinsurance
ACPG Management Sdn Bhd 
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