KUALA LUMPUR, April 22 — Allianz General Insurance Company (M) Bhd (Allianz General), in partnership with United Kingdom-headquartered insurance broker Howden Broking, has rolled out the first-in-market bicycle insurance in Malaysia.

In a statement today, the general insurer said the comprehensive bicycle insurance offers protection against accident/crash damage and theft, as well as coverage of accessories and specified add-on parts.

Allianz is also offering the Allianz Shield Plus personal accident insurance as part of the coverage that will cover accidental death, permanent disablement, snatch theft or attempted snatch theft, medical expenses, and other optional benefits.

Allianz General chief executive officer (CEO) Sean Wang said the company has partnered with Howden to serve the protection needs of cyclists in Malaysia, who have long lamented the lack of insurance protection against accidents or thefts.

“Malaysia has such a vibrant cycling community, and what was missing was an insurance solution that looked after the cyclists and their ride. In Howden, we found a distribution partner that ticked all the right boxes, and we are very excited to work together and be able to offer meaningful protection for our customers,” he added.

Meanwhile, Howden Malaysia CEO Jeffrey Chan said cyclists would enjoy an enhanced cycling experience with the availability of this specialised insurance solution.

Howden Broking is an independent provider of (re)insurance brokerage, risk consulting and employee benefits, and has business across Europe, Asia-Pacific, Africa, Latin America and the Middle East. — Bernama