AIG suspends insurance for McLaren sports vehicles traveling to Malaysia

AIG suspends insurance for McLaren sports vehicles traveling to Malaysia

SINGAPORE: US financial and insurance company AIG has announced that McLaren sports cars will no longer be insured by the company if they are brought into Malaysia, The Straits Times (ST) reported on Sunday (March 24). Reported.

ST said that from April 1, AIG “will no longer be responsible for losses arising from accidents that occur outside Singapore.”

On October 29, 2023, three luxury cars were involved in a vehicle accident that made headlines. His three McLarens involved in the accident were registered in Singapore.

Malaysian police said the accident occurred around 9am when the vehicle was heading south from Batu Empat in Kluang, Johor, to Taman Seri Lambak.

This incident is said to have had a major influence on AIG’s decision to no longer insure McLarens driving in Malaysia.

ST reports that the company said the choice stems from the “extraordinary increase in the frequency of serious accidents involving McLaren vehicles in Malaysia.”

According to data from the Land Transport Bureau, there are approximately 200 McLarens in Japan.

One of the men involved in the October 2023 accident, a 32-year-old real estate agent named Marcus Lua, was quoted as saying in ST:

“I don’t understand why only McLaren is singled out. There have been many accidents involving other brands in Malaysia in the past, so I’m a little confused.”

He also revealed that AIG told him at the time of renewal that the premium for his luxury sports car was “five times” higher than his current premium, and that he would not choose AIG in the future because the price was so high. He added that there was no.

A video of the aftermath of the accident in which Lua was involved went viral after being shared on Facebook, where it has been viewed more than 25,000 times.

This shows how badly damaged at least one vehicle was. A man’s voice can be heard saying, “Driver, are you okay?” And he was convinced that he was really okay.

Police said the three vehicles were part of a six-vehicle convoy. The other two drivers of the vehicle involved in the accident were identified by Malaysian daily Sinal Harian as Basil Wong and Matthew McGrory.

Local police investigated the accident. /TISG

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