SINGAPORE: A married man who was having an affair with an old flame became upset when the woman, who is also married, wanted to end their extra-marital relationship.
KUALA LUMPUR: Bank Negara Malaysia has required insurers and takaful operators to review their current repricing strategies for more reasonable implementation.
In addition, it said, ITOs are required to offer viable options for policy owners/takaful participants who are significantly impacted by the higher premiums or contributions to continue having insurance or takaful coverage. BNM said further details on the available options will be announced by the insurance or takaful industry soon.
"Therefore, comprehensive and coordinated reforms to contain medical cost inflation will be critical to preserve continued access to appropriate MHIT protection," it said, adding that relevant stakeholders, including the ITOs, the Ministry of Health, Association of Private Hospitals Malaysia, health practitioners, consumer groups and policyholders, must cooperate with BNM to achieve this.
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