Bayan Baru MP Sim Tze Tzin has urged Bank Negara Malaysia (BNM) to investigate insurance companies allegedly profiting excessively by raising customer premiums. The PKR MP emphasized that BNM has the authority to regulate decisions made by these companies.
Insurance companies
“We call on BNM to review and investigate insurance companies issuing notices of premium hikes. BNM cannot dismiss this as merely business decisions or market forces of ‘willing buyer, willing seller,’” Sim said during a press conference in Parliament.
Last week, Sim and other PKR MPs launched a public feedback initiative to address concerns about rising insurance premiums.
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