Etiqa Insurance & Takaful group chief executive officer Kamaludin Ahmad
KUALA LUMPUR: Insurance and takaful operator (ITO) companies are urged to collaborate with healthcare providers to find solutions to address the increase in medical insurance premiums.
Etiqa Insurance & Takaful group chief executive officer Kamaludin Ahmad said this joint effort is important to control the sudden cost spike.
"We need to work with hospital management and doctors to find a solution to control price increases.
"If viewed from an inflation perspective, medical costs are indeed increasing, but the rate of increase varies," he told Bernama after Etiqa's Media Luncheon 2024 here today.
Kamaludin also expected that Bank Negara Malaysia (BNM) would issue a guideline soon so that insurance companies do not raise premium prices abruptly.
"The central bank may also work with the Ministry of Health to ensure that healthcare service providers are transparent in setting consumer charges," he said.
On Dec 13, Communications Minister Fahmi Fadzil said BNM would soon announce a solution to the issue of rising medical insurance premium rates.
Fahmi, also the Unity Government spokesperson, said the matter was informed by Prime Minister Datuk Seri Anwar Ibrahim at a Cabinet meeting last Friday, who said that the central bank still needed a little more time before making an announcement. - Bernama
