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The increasing demand for housing and the scarcity of land for development has resulted in the rapid development of high-rise residential in Malaysia. In this type of development, there is always a Joint Management Body (JMB) / Management Corporation (MC) that takes care of the maintenance and management of the property and its facilities which includes insuring them against any risk exposure. 

As a provider in the property risk market that focuses on underwriting insurance policies for high-rise buildings, Chubb has crafted a comprehensive insurance package, JMB Elite Package to cater to the varying risk management needs of the JMB/MC for these developments.

Key Benefits

All-In-One Package 
  • A comprehensive flexible insurance plan that caters to your unique needs as JMB/MC. Bundling several policy coverages under one package: i. Offers all essential covers for the JMB/MC under one policy; ii. Saves time in managing documents when it comes to policy renewal.
All Risk Coverage
  • This policy covers loss or damage to property insured from all risks except those specifically excluded.
Terrorism/Sabotage and Political Violence 
  • This optional extension provides coverage against property damage due to terrorism/sabotage and political violence as well as financial relief if your business or operation is interrupted as a result of such event.
Consequential Loss Coverage 
  • This covers both JMB/MC and Unit Owners for loss of rent or if temporary accommodation is required due to property damage caused by insured perils covered under All Risk Coverage. 
Indemnity Cover Against Unintentional Privacy Infringement & Cyber Attack 
  • This extension protects JMB/MC against liability loss due to unintentional infringement of privacy right and misuse of confidential information by an unauthorized party; as well as failure to prevent an unauthorized party from accessing the computer systems.
Employment Practices Liability 
  • This section covers JMB/MC against financial loss arising from violation of the Industrial Relations Act 1967 relating to an employee, such as wrongful dismissal.

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.

Forms and Documents

Chubb Coal Policy

Chubb’s commitment to do its part as a steward of the Earth is reflected in the company’s policy concerning coal-related underwriting and investment, which was adopted on July 1, 2019. With the new policy, the company will no longer underwrite the construction and operation of new coal-fired plants or new risks for companies that generate more than 30% of their revenues from coal mining or energy production from coal. Insurance coverage for existing coal-plant risks that exceed this threshold will be phased out by 2022, and for utilities beginning in 2022.

Have a question or need more information?

Contact us to find out how we can help you get covered against potential risks