Annual hike capped at 10%

Medical fact: The cost of healthcare in Malaysia has grown significantly over the years.

KUALA LUMPUR: Insurance companies will not be allowed to impose steep hikes of premiums on medical policies, Bank Negara Malaysia has announced.

Instead, it has told insurance and takaful operators (ITOs) to spread out premium increases over a minimum of three years, limiting premium hikes to not more than 10% per annum.