The proposed new basic motor insurance coverage for third party injuries and deaths involved so many interested parties.
Consumer associations, the public at large and especially drivers of old cars, which normally are covered by 3rd party insurance coverage. The number involved in the above scheme may run into thousands, if not millions of people.
If indeed it’s true so many people are involved in it, why then has Bank Negara chosen then not to consider it fit to consult the interested parties before drafting the proposed scheme?
The new scheme is said to have far reaching effects to the public. As such, there should be proper disclosure by Bank Negara and meaningful discussions and consultations with all parties concerned who are stakeholders.
In a televised interview held recently, the Prime Minister said the above consultation was necessary before Bank Negara, who incidentally are acting on behalf of the government, before a commitment is made to agree to the new policy.
Consumer Association of Penang (C.A.P.) legal adviser, Jesica Binwani, reiterated it looks as if the P.M. was luckily able to grasp what C.A.P and other interested parties have been trying to say all this while.
For those who are still in the dark regarding this new proposal for basic motor insurance for all third party injuries and deaths, under the new scheme, motor vehicle accident victims may only be compensated for injuries.
It is said they will no longer be entitled for other claims such as loss of current and future income. Third party insurance does not only cover drivers of old cars which currently run into the thousands, if not millions of drivers, but it should be borne in mind also, it involves motorcycle riders as well.
Most motorcycle riders are youths, school children, kampung folks and low income factory workers. The impact on this group of people is immense.
Thanks to the Prime Minister, Datuk Seri Najib Tun Razak, the P.M.’s call to Bank Negara, or directive to it if you may, is very timely and may have averted a disaster of colossal magnitude.
The Volkswagen Club of Malaysia alone is reported to have a membership of some 30,000 members. It should be remembered each and every one of them has a vested interest or locus standi in this new basic motor insurance coverage scheme which Bank Negara is attempting to bull doze through.
As responsible citizens, you decide for yourselves if we should allow such irresponsible behavior on the part of Bank Negara to take place.
We sincerely hope with proper consultations and discussions between all parties involved, an acceptable format will eventually be reached. A word of thanks to the Consumer Association of Penang for doing its duty to the general public.