SINGAPORE: US finance and insurance corporation AIG said that McLaren sports vehicles would no longer be insured by the company when brought into Malaysia, The Straits Times (ST) reported on Sunday (March 24).
ST said that beginning April 1, AIG will “not be liable for losses arising from accidents occurring outside Singapore.”
Three luxury vehicles made the news after they were involved in a vehicular accident on Oct 29, 2023. The three McLarens involved in the accident were registered in Singapore.
Malaysian police said that the crash occurred at about 9 o’clock in the morning as the vehicles were heading toward the south in Kluang, Johor, from Batu Empat to Taman Seri Lambak.
This incident and others are said to have played a big part in AIG’s decision to no longer insure McLarens driven in Malaysia.
ST quotes the company as saying that the choice had come from “an exceptional increase in frequency of severe accidents involving McLaren vehicles in Malaysia.”
Data from the Land Transport Authority says there are about 200 McLarens in the country.
One of the men who was in the October 2023 accident, a 32-year-old property agent named Mr Marcus Luah, was quoted in ST as saying:
“I don’t understand why McLaren is being singled out. There have been many past crashes in Malaysia involving other brands, so I’m a bit puzzled.”
He also said that AIG had said the insurance premium for his luxury sports car had been “five times” higher than his current one for policy renewal, and added that he would not choose AIG again since the amount was so high.
A video of the aftermath of the accident Mr Luah was involved in went viral when it was shared on Facebook, receiving over 25,000 views.
It shows how badly damaged at least one of the vehicles was. A male voice is also heard saying, “Driver, okay, what?” and receiving assurance that he was indeed all right.
Police said that the three vehicles were part of a convoy of six cars. The two other drivers of the vehicles involved in the mishap were identified as Mr Basil Wong and Mr Matthew McGrory in Sinar Harian, a Malaysian daily.
Local police investigated the accident. /TISG
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