Its 83.26%-owned Tune Insurance Malaysia Bhd is facing a penalty of
RM3.61 million after the MyCC found it was among one of the 22 general
insurance companies allegedly in breach of the Competition Act 2010.
Tune
Insurance and the 21 other companies are members of the General
Insurance Association of Malaysia (PIAM), which faces a consolidated
penalty of RM213.45 million.
The
letter from MyCC was received by Tune Insurance on Feb 2017 .
Tune
Insurance among 22 general insurers facing fine over alleged discount
fixing22 containing the proposed decision.
PIAM
is involved in an ongoing investigation into an agreement it had
entered into with the Federation Of Automobile Workshop Owners’
Association Of Malaysia (FAWOAM) for trade discount rates applicable to
parts of certain types of vehicles and agreed labour rates for PIAM
approved repairer’s scheme workshops.
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