5 Signs Your Factory Is Underinsured
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Most Malaysian factory programmes carry one of five tell-tale signs of underinsurance. The 1-page check Malaysian factory CFOs forward to finance.
Built for the CFO, finance manager, or owner-director at a Malaysian factory reviewing property cover before annual renewal under DOSH and BOMBA jurisdictions.
✔ Building sum insured at book value not reinstatement (triggering the average clause on Fire and IAR)
✔ BI/ILOP indemnity period at default 12 months, not aligned to repair-plus-recertification timeline (HACCP, GMP, JAKIM)
✔ Machinery Breakdown not held; pressure plant under the Certificate of Fitness regime in P.U.(A) 99/2024 (the successor to the now-repealed Factories and Machinery Act 1967) carries its own cover
✔ Stock at peak not declared; WC for foreign workers via SOCSO Employment Injury Scheme since 1 January 2019 left ambiguous
For Malaysian factory owners and CFOs across Selangor, Penang, Johor, and Klang Valley. Subject to policy terms and conditions. Foundation is a specialist property and engineering insurance intermediary, not a broker.
Forward this to your CFO before your next renewal.
Foundation Insurance Solutions is a registered and licensed insurance intermediary in Malaysia specialising in property and engineering insurance for industrial operations. We provide comprehensive coverage for manufacturers, contractors, and facility owners across construction, electronics, food production, and high-risk industrial sectors.
Riskflow Sdn Bhd (202101001225):
Suite 3.19 (North Block), The Ampwalk, 218 Jalan Ampang, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
t: +60149256398 (Kevin)
email: kevin.hoong@getfoundation.com.my
