KUALA LUMPUR, Nov 4: The federal government, through Bank Negara Malaysia (BNM), will review insurance providers’ operating procedures following complaints that policyholders seeking treatment at private hospitals faced restrictions in choosing specialist doctors.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the government would discuss the matter with BNM to safeguard consumer rights while addressing rising medical costs.
“Regulation of the insurance industry falls under BNM, and as part of this initiative, the central bank will review the procedures adopted by insurance providers.
“Equally important is ensuring that all industry players comply with sound regulations to prevent medical cost inflation from rising, as everyone would ultimately bear the resulting costs,” he said when winding up the committee-stage debate on the Supply Bill 2027 (Budget 2027) for the Finance Ministry in the Dewan Rakyat today.
