Kuala Lumpur: A group of Malaysian lawmakers has urged Bank Negara Malaysia (BNM) to intervene following Prudential Malaysia’s announcement of a medical insurance premium hike.
The lawmakers said the increase appears to violate BNM’s interim measures capping premium hikes at 10 per cent over three years.
“We hope that the Prudential side to release a statement to clarify this,” the lawmakers said in a joint statement.
The lawmakers were Bayan Baru MP Sim Tze Tzin along with senators Datuk Dr Mohd Redzuan Othman, Amir Md Ghazali, Abun Sui Anyit, Bob Manolan Mohamed, and Datuk Ahmad Azam Hamzah.
Previously, Free Malaysia Today reported that Prudential will raise premium for its medical insurance by varying degrees, citing a 19.6 per cent increase in insurance claims.
The company also reportedly warned that if medical costs continue to rise, it will review premiums annually.
Among those calling for action were MP Sim Tze Tzin, Prof Datuk Dr Mohd Redzuan Othman, Senator Amir Md Ghazali, and several others.
