Plan Offers MasterCard Cardholders Additional Insurance Coverage Beyond Point of Purchase

MasterCard Worldwide and Chartis Malaysia Insurance Berhad (formerly known as AIG General Insurance (Malaysia) Berhad), have collaborated to provide MasterCard credit card cardholders with complimentary Purchase Protection Plan for 12 months. The collaboration is the first by MasterCard with an insurance company in Malaysia with global affiliations.

The launch of Purchase Protection Plan was officiated by Rob Ryan, chief executive officer, Chartis Malaysia Insurance Berhad and Jim Cheah, vice president and senior country manager, Malaysia and Brunei, MasterCard Worldwide.

“We are happy and proud to collaborate with MasterCard on this program, which will benefit all MasterCard credit cardholders tremendously,” said Rob Ryan, chief executive officer, Chartis Malaysia.

The Purchase Protection Plan, which is valid for one year from the policy effective date, offers MasterCard credit cardholders who make purchases using their MasterCard credit card during the one year period instant protection against theft or accidental damage.

“This collaboration with Chartis Malaysia is a testament to the commitment by MasterCard to offer cardholders added benefits beyond the point of purchase,” said Jim Cheah, vice president and senior country manager, Malaysia and Brunei, MasterCard Worldwide.

“Through this plan, we can offer our cardholders peace of mind, minimizing any inconvenience caused in the event of theft or accidental damage for items purchased anywhere in the world with a MasterCard credit card. We hope this will encourage more people to choose MasterCard credit cards as their preferred choice of payment for their daily purchases,” added Cheah.

By activating this plan, MasterCard credit cardholders can enjoy coverage of up to RM1,500 each time for one year. A claim can be made in the event of theft or accidental damage within 30 days from the date of items purchased. The Purchase Protection Plan is only offered to MasterCard credit cards issued in Malaysia. All MasterCard credit card cardholders who have cards issued in Malaysia are instantly protected by the complimentary plan upon activation by the MasterCard credit cardholder and receipt of an SMS once the coverage is approved.

This policy is currently limited to individuals only and it only covers MasterCard credit cardholders who have activated the coverage. It has not yet been extended to debit MasterCard cardholders.

To activate the Purchase Protection Plan, the cardholder only needs to SMS MC <space> 12-digit NRIC <space> NAME per NRIC. The cardholder will receive an SMS once the coverage is approved, along with the effective date of coverage. Alternatively, one may visit One activation is sufficient to activate coverage for all MasterCard credit cards issued in Malaysia held by one person.

About Chartis
Chartis is a worldwide leader in property-casualty and general insurance. Chartis companies employ more than 34,000 people worldwide and serve more than 40 million business and individual customers in 160 countries and jurisdictions. In 2008, Chartis companies had gross premiums of nearly US$50 billion worldwide and the company paid out an average of US$71 million worldwide in claims everyday.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard, Maestro and Cirrus, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to Follow us on Twitter: @mastercardnews.

Media Contacts
MasterCard Worldwide
Georgette Tan, (65) 6390-5971