Insurance to be offered through direct channel without commissions from next year - BNM

According to UBS, Bank Negara is likely to cut its overnight policy rate by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

KUALA LUMPUR: Beginning next year, insurers will be required to offer pure protection products through a direct channel without commissions, said Bank Negara Governor Datuk Muhammad Ibrahim.

"The high internet and mobile phone penetration in Malaysia suggests that internet or mobile insurance makes good sense,” he said at the 6th Malaysian Insurance Summit.