KUALA LUMPUR: Bank Negara Malaysia (BNM) has been asked to investigate and review the ‘excessive’ increase in insurance premiums. In making the call, Bayan Baru Member of Parliament Sim Tze Tzin said BNM should not avoid the issue on the grounds that it was a business decision by the insurance companies involved.

According to BERNAMA News Agency, Sim questioned why the authorities could not investigate the increase in insurance premiums when the Ministry of Domestic Trade (KPDN) can probe an ‘excessive profiteering’ allegation over a 10 sen rise in egg prices. He also pointed out the need for scrutiny over the substantial rise in private hospital charges, suggesting it might constitute ‘excessive profiteering’.

Sim mentioned that he raised concerns about the increasing costs of private hospital charges and health insurance premiums during the committee-level debate session on the Ministry of Health’s Supply Bill 2025. He lauded Health Minister Datuk Seri Dr Dzulkifli Ahmad’s commitment to engaging in consul
tations with private hospitals to promote ‘value-based healthcare’. However, Sim expressed regret over the Malaysian Private Hospital Association president Dr Kuljit Singh’s media statement that defended the hike in health insurance premiums, which ranged from 40 to 70 per cent.