Higher risk: Insurer AIG has decided not to cover McLaren cars driven into Malaysia following a crash involving three such cars in October 2023. - PHOTO: COURTESY OF PDRM via The Straits Times/ANN
In a correspondence to an insurance broker, AIG said its decision came on the back of “an exceptional increase in frequency of severe accidents involving McLaren vehicles in Malaysia”. From April 1, 2024, the insurer said it will not be liable for losses arising from accidents occurring outside of Singapore.The move came as a shock to McLaren owners. Mr Marcus Luah, who was among the trio involved in the Johor crash, said: “I don’t understand why McLaren is being singled out.
“It’s not uncommon for cars which cost more than $3 million,” said Eazy chief executive Douglas Chia. “But it’s less common for cars below that price range.” “We are working to transition some customers over to Liberty, so that they are taken care of. Meanwhile, we are in talks with AIG to see how we can lessen the impact on existing customers.”