Business insurance · Malaysia
Lonpac Insurance
General insurer in the LPI Capital group, with a Contractor's All Risks product
Market position
Lonpac Insurance is the general insurance subsidiary of LPI Capital Bhd, whose shares trade on Bursa Malaysia. In October 2024 Public Bank agreed to buy a 44.15% stake in LPI Capital from the late founder's family, and its follow-on general offer lapsed in January 2025 below the 50% acceptance level, per The Star and The Edge. Lonpac lists Contractor's All Risks among its engineering and machinery covers for businesses.
Malaysia-specific note
Contractor's All Risks sits under Lonpac's engineering and machinery covers for businesses. Ask a Lonpac agent or broker for the Product Disclosure Sheet and policy wording before comparing quotes.
Pros
- + Contractor's All Risks offered as a named business product
- + Parent LPI Capital is listed and reports its results publicly
- + Member of the General Insurance Association of Malaysia (PIAM)
- + Also writes business insurance in Singapore, through its own Singapore site
Cons
- − No published premium rates; quote required
- − The CAR web page gives little readable detail; ask for the Product Disclosure Sheet
- − No online purchase route for CAR found
Typical Malaysia pricing
Quote-based; no published premium rates.
Why this matters for Malaysia trades
Under Act 520, every local and foreign contractor must register with CIDB (the Construction Industry Development Board), which grades contractors G1 to G7 with works limits from RM200,000 (G1) to no limit (G7), issues the SPKK certificate for government works and registers construction workers, site supervisors and project managers through the Green Card; working unregistered risks a fine of RM10,000 to RM100,000. LHDN/IRBM runs income tax, employers’ monthly PCB/MTD deductions and the MyInvois e-invoicing system. SSM (the Companies Commission of Malaysia) registers businesses, companies and LLPs; under Act 138 only a Professional Engineer or engineering consultancy practice registered with the Board of Engineers Malaysia (BEM) may submit engineering plans to an authority; and employers must register with and pay monthly contributions to EPF/KWSP and to SOCSO/PERKESO (including EIS), with HRD Corp registration and levy required at 10 or more employees in covered industries.
Malaysian construction and trades software selection is shaped by MyInvois, the national e-invoicing system run by LHDN/IRBM (the Inland Revenue Board), rolled out in phases by turnover from August 2024. Businesses with turnover up to RM5 million entered on 1 January 2026, but under LHDN’s e-Invoice Guideline of 30 August 2026 those below RM3 million are exempt unless a shareholder company, holding company, related company or joint venture has turnover of RM3 million or more, and an interim relaxation for the up-to-RM5 million phase runs to 31 December 2027, allowing consolidated e-invoices for taxpayers who meet its conditions. AutoCount, SQL Account, Bukku and other local accounting and ERP vendors listed here say they submit e-invoices to MyInvois. Add the Ringgit (MYR), SST, CIDB contractor grading from G1 to G7, and monthly EPF, SOCSO, EIS and PCB payroll deductions, with LHDN publishing a list of payroll software whose PCB calculation meets its specification.
Frequently asked
Is Lonpac Insurance a good fit for Malaysia trades?
Lonpac Insurance is the general insurance subsidiary of LPI Capital Bhd, whose shares trade on Bursa Malaysia. In October 2024 Public Bank agreed to buy a 44.15% stake in LPI Capital from the late founder's family, and its follow-on general offer lapsed in January 2025 below the 50% acceptance level, per The Star and The Edge. Lonpac lists Contractor's All Risks among its engineering and machinery covers for businesses. Contractor's All Risks sits under Lonpac's engineering and machinery covers for businesses. Ask a Lonpac agent or broker for the Product Disclosure Sheet and policy wording before comparing quotes.
What does Lonpac Insurance cost in Malaysia?
Quote-based; no published premium rates. Pricing and availability can change by region; confirm current Malaysia pricing on the vendor's site before committing.