In just a few weeks, I’ll – hopefully – be hiking up a foreign hillside with my family on a well-deserved holiday. Naturally, I’ve prepared the standard checklist: clothes for six days, two credit cards, cash in a money belt, and something 65.2% of Malaysians tend not to take along on their holidays: travel insurance.
A 2021 online survey showed that only 24.8% of Malaysians buy travel insurance, with 40% snatching it up at the last minute. Digging deeper, the European Union-Asean Business Council revealed that Malaysia’s overall insurance penetration is a measly 5.3% of GDP, trailing the global average of 7%.
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