MMIP stands for Malaysia Motor Insurance Pool. MMIP is a high-risk insurance pool that runs collectively by the insurance industry under the orders from the regulators. It provides motor insurance to vehicle owners with difficulty to obtain motor insurance from normal commercial insurance market. Most if not all insurance company does not accept vehicles above 15 years old, due to presumption higher risk, but if all Insurance companies refuse to accept coverage for these vehicles, which are still many on the road, how are they going to get their road tax renewed?
Thus, MMIP is created and The pool is managed by MMIP Services Sdn Bhd (MSSB), a subsidiary of MNRB Holdings Bhd (MNRB). This Pool was formed to provide motor insurance to vehicle owners who are unable to obtain insurance protection for their vehicles.
MMIP in general offers both third-party and comprehensive motor insurance packages. Nonetheless, a comprehensive coverage is only available for vehicles with existing Hire Purchase Loans. MMIP can be purchased from Pos Malaysia but is limited only to motor cycles, private cars, town/public taxis, factory buses, stage buses and school buses.