On-line database of reported stolen and total loss vehicles

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On-line database of reported stolen and total loss vehicles

Postby admin » Thu Nov 29, 2012 8:32 am

On-line database of reported stolen and total loss vehicles available early next year

KUALA LUMPUR: An on-line database of reported stolen and total loss vehicles will be available for checking by insurers and takaful operators at all points of sale, Persatuan Insurans Am Malaysia (PIAM) said today.

This new initiative would come into effect early next year," it said in a statement.

The move would see more stringent checks for possible stolen vehicles and total loss vehicles that have been reported to insurers and takaful operators before motor insurance cover can be issued, it said.

PIAM said the initiative was needed as the total overall number of vehicles including motorcycles reported stolen to insurance companies and takaful operators had decreased but the number of stolen private cars had increased by 2.5 per cent to 9,703 units last year from 9,467 units in 2010.

The association urged the public to be cautious when purchasing used cars as they may possibly be buying a stolen or total loss car.

With the stringent checks in place, unsuspecting car buyers may not or find it very difficult to obtain insurance coverage, it said.

PIAM said the public should also be aware that a properly conducted inspection by Puspakom was required to check on roadworthiness and the identity of the vehicle prior to the purchase of any used car.

Read the full article:
http://biz.thestar.com.my/news/story.as ... c=business
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