Insurers: Medical cost, premium inflation on the rise

Life Insurance Association of Malaysia (LIAM) chief executive officer Mark O’Dell (pic) said the cost of medical care at private hospitals in Malaysia has been increasing along with the premiums/contributions of private medical insurance and takaful.

KUALA LUMPUR: The insurance and takaful industry calls on all stakeholders such as Bank Negara, private hospitals and doctors to work together with the industry to address the rising medical cost and premium inflation.

Life Insurance Association of Malaysia (LIAM) chief executive officer Mark O’Dell said the cost of medical care at private hospitals in Malaysia has been increasing along with the premiums/contributions of private medical insurance and takaful.