Insurance Industry In Limelight Due To Public Outcry Over Steep Medical Premium In 2024

By Zufazlin Baharuddin

KUALA LUMPUR, Dec 22 (Bernama) -- A review of the insurance industry’s performance in 2024 will undoubtedly have to include the backlash faced by the insurance and takaful industry after it announced a steep hike in medical insurance premiums.

FPAM Welcomes BNM Premium Cap - Urges Long-term Healthcare Solution

KUALA LUMPUR, Dec 21 (Bernama) -- The Financial Planning Association of Malaysia (FPAM) has welcomed Bank Negara Malaysia’s (BNM) move to cap annual premium increases for medical insurance and takaful at 10 per cent. 

MOH Welcomes BNM's Interim Measures To Regulate Insurance, Takaful Premiums

KUALA LUMPUR, Dec 20 (Bernama) -- The Ministry of Health (MOH) has welcomed Bank Negara Malaysia’s (BNM) move to regulate the rise in medical and health insurance/takaful (MHIT) premiums, calling it a timely short-term intervention to alleviate the burden of sudden inflation on the public.

Explore Alternatives Before Quitting Medical Insurance, Takaful Plans, Urges FPAM

KUALA LUMPUR, Dec 18 (Bernama) -- Medical insurance or takaful policyholders are urged to consider alternatives such as exploring policy adjustments or reviewing the existing coverage before terminating their policies.

NAMLIFA Urges BNM, MOF To Order Temporary Halt In Medical Premium Repricing

KUALA LUMPUR, Dec 6 (Bernama) -- The National Association of Malaysian Life Insurance and Financial Advisors (NAMLIFA) has strongly urged Bank Negara Malaysia (BNM) and the Ministry of Finance (MoF) to order a temporary halt in the medical premium repricing exercises.