‘Cap insurance premium hike to not more than 10pct’

Several PKR lawmakers have urged Bank Negara Malaysia to cap any increase in insurance premium rates at 10 percent.

In a joint statement today, the lawmakers argued that the maximum rate is justified as not all who take up insurance would be filing a claim, adding the rate is also in tandem with the regional healthcare inflation rate.

“Thus, we call for a reasonable hike to ensure insurance remains…