PROFIL FOMCA

COMMENT | Curbing healthcare insurance prices

2025-01-22T23:40:38+00:00

Jan 18, 2025 12:00 PM

SOTHI RACHAGAN is an emeritus professor who is a formerdean of the faculty of law of Universiti Malaya; vice-chancellor of Perdana University and Nilai University, and president of theInternational Association of Consumer Law. He serves onnumerous international consumer protection bodies.

COMMENT | Healthcare and insurance are essential services and should not be treated as ordinary businesses. This is particularly true for healthcare insurance. The announcement of healthcare insurance premiums increasing by 40-70 percent has understandably alarmed consumers.

In response, Bank Negara Malaysia (BNM) introduced a series of immediate measures to ensure continued access to healthcare insurance and address rising medical costs (Interim Measures to Assist Policyholders and Promote Continued Access to Suitable Medical and Health Insurance/Takaful Products, Dec 20, 2024).

These interim measures are a positive step forward. However, they lack provisions for transparency and accountability from insurers and the regulator, BNM. Transparency and accountability are critical to fostering consumer trust.

Key metrics for insurer performance
Several key metrics can help consumers evaluate insurerperformance and enable regulators to monitor the industry’s health.
> Claims ratio: The ratio of claims paid out to premiumsreceived.
> Loss ratio: The ratio of claims and adjustment expenses(including claim investigation and verification costs) topremiums received.
> Claims settlement ratio: The proportion of claims settledagainst total claims filed (both in number and value). Thisratio allows buyers to compare insurers and choose themost reliable provider.
> Expense ratio: The proportion of expenses incurred inacquiring, underwriting, and servicing premiums relativeto premiums earned, reflecting an insurer’s operationalefficiency before factoring in policy claims and investmentgains or losses.

COMMENT | Curbing healthcare insurance prices

2025-01-22T23:40:36+00:00

Jan 18, 2025 12:00 PM

Kebajikan golongan miskin tegar terus terbela menerusi rebat elektrik

2023-10-19T00:18:27+00:00

KUALA LUMPUR: Kebajikan golongan miskin tegar di negara ini terus menjadi keutamaan kerajaan menerusi pemberian rebat elektrik sehingga RM40 sebulan kepada golongan itu seperti pengumuman Belanjawan 2024, Jumaat lepas.

Pemberian rebat itu dilihat mampu mengurangkan bebanan kos sara hidup yang tinggi ketika ini sekali gus menunjukkan keprihatinan kerajaan dalam membela nasib golongan miskin tegar di negara ini.

Suri rumah Diana Lokman, 40, berkata langkah kerajaan meneruskan pemberian rebat elektrik itu memperlihatkan usaha berterusan kerajaan meringankan beban rakyat terutamanya golongan susah dan bekeperluan untuk mendapat bantuan manfaat yang terus kepada golongan sasar.

"Jadi dengan pemberian rebat ini, bil bulanan yang saya perlu bayar hanya sekitar RM15 atau kurang daripada itu kerana penggunaan bulanan biasanya sekitar RM50, saya tidak gunakan penyaman udara atau penapis air elektrik dan sebagainya," katanya ketika dihubungi Bernama pada Rabu.

Guna ID cetus pelbagai persoalan

2023-10-02T23:59:57+00:00

SHAH ALAM - Kaedah pembelian minyak masak peket bersubsidi menggunakan pengenalan diri (ID) khas yang bakal dilaksanakan Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup (KPDN) tahun depan disifatkan tidak komprehensif dan mengelirukan.

Penganalisis Ekonomi Universiti Kewangan Islam Global (INCEIF), Profesor Dr Baharom Abdul Hamid menyifatkan idea tersebut menimbulkan pelbagai persoalan selain sukar untuk dilaksanakan.

“Jadi siapa nak kawal di peringkat runcit? Apa yang menghalang pembeli menjual semula pada harga yang lebih tinggi?

“Apa had kelayakan untuk penggunaan ID ini nanti. Adakah mengikut pendapatan? Sekiranya gaji suami dalam golongan berpendapatan tinggi (T20), tapi suruh isteri yang suri rumah atau anak yang beli, macam mana pula,” katanya kepada Sinar Harian.

Sebelum ini Timbalan Menteri KPDN, Fuziah Salleh memberitahu kaedah pembelian minyak masak peket kepada kumpulan sasar yang bakal dilaksanakan pada 2024 akan menggunakan mekanisme ID dan telah disahkan layak.

Consumers to tighten belts over rising prices

2023-09-06T23:38:06+00:00

PETALING JAYA: Many Malaysian households are now indulging in mutton only occasionally due to the high prices these days.

“As Indians, we love mutton. But it’s costly these days, so I would buy it only once in a while,” said content manager, A. Siva, 42.

He said the price was usually about RM50 per kg, but it could go up to RM70, especially during Deepavali when the demand is high. At one point during the movement control order, he said the price even went up to RM83 per kg at a local market in his Subang Jaya neighbourhood, which he described as “shocking”.

To him, he felt that the price was rather arbitrary as the trader did not put it up on a price board. However, Siva acknowledged that prices for local mutton had always been higher than those imported from Australia or New Zealand.

“Local mutton is never frozen and there is a variation in terms of taste,” he said, adding that his family would opt for local or imported ones, depending on the need and occasion.

Homemaker Fazilah Kamal, 31, would only buy fresh mutton from the wet markets as she finds it more tender. It also takes less time to cook.

She said the average cost of lamb was around RM37 to RM40 per kg, but chops and shoulders were even more expensive as they tend to have more meat.

TAHNIAH DATUK SERI ANWAR IBRAHIM PM-10

2022-11-24T02:40:11+00:00

Tahniah diucapkan kepada Datuk Seri Anwar Ibrahim yang dilantik sebagai Perdana Menteri Ke-10.

#AnwarIbrahim
#PM10
#hakpengguna
#tanganikossarahidup
#FOMCA

PROGRAM LATIHAN INDUSTRI/INTERNSHIP 2022

2022-08-03T00:14:47+00:00

TERBUKA UNTUK PROGRAM LATIHAN INDUSTRI/INTERNSHIP

Kami daripada Gabungan Persatuan-persatuan Pengguna Malaysia (FOMCA) sedang mencari pelajar Diploma atau Ijazah Sarjana Muda (Degree) yang ingin menyertai kami sebagai pelajar internship/latihan industri sepanjang tahun 2022.

Dalam bidang :
- BUSINESS ADMIN
- BUSINESS MANAGEMENT/MARKETING
- CREATIVE MULTIMEDIA
- ACCOUNT

atau bidang-bidang yang berkaitan boleh juga cuba untuk memohon.

✅ Elaun Latihan turut disertakan.

📍 Tempat bekerja: SS1/22A, Kampung Tunku, 47300 Petaling Jaya, Selangor

📧 Sekiranya berminat, sila hantarkan resume anda ke email: mco@fomca.org.my

Sekiranya terdapat sebarang pertanyaan boleh hubungi kami di talian 03- 7876 4648 atau whatsapp kami di talian 011- 5920 0902

PELUANG PROGRAM LATIHAN INDUSTRI/INTERNSHIP TERBUKA

2022-08-03T00:06:51+00:00

TERBUKA UNTUK PROGRAM LATIHAN INDUSTRI/INTERNSHIP

Dalam bidang :
- BUSINESS ADMIN
- BUSINESS MANAGEMENT/MARKETING
- CREATIVE MULTIMEDIA
- ACCOUNT

atau bidang-bidang yang berkaitan boleh juga cuba untuk memohon.

✅ Elaun Latihan turut disertakan.

📍 Tempat bekerja: SS1/22A, Kampung Tunku, 47300 Petaling Jaya, Selangor

📧 Sekiranya berminat, sila hantarkan resume anda ke email: mco@fomca.org.my

Sekiranya terdapat sebarang pertanyaan boleh hubungi kami di talian 03- 7876 4648 atau whatsapp kami di talian 011- 5920 0902

SC probes rings that cheated investors of RM7mil

2021-03-31T18:39:31+00:00

1 April 2021
PETALING JAYA: The Securities Commission Malaysia (SC) is investigating a syndicate suspected of running unlicensed investment schemes promising high returns to prospective investors.

In a statement today, the SC said the syndicate was being investigated for alleged offences under the Capital Markets and Services Act 2007.

It said SC officers raided several of the syndicate’s locations in Kuala Lumpur recently, confiscating their records and devices. Their servers were also shut down.

According to the statement, the syndicate, which also runs two clone firm schemes promising high returns in a short period of time, was believed to have duped hundreds of investors of over RM7 million.

Initial investigations show that the syndicate had been operating the unlicensed schemes since 2016.

SC identified these schemes as:

Domestic violence at crisis level months after lockdown

2020-11-24T19:14:07+00:00

November 25, 2020 9:58 AM
PETALING JAYA: Newly-wed ‘Nellie’ jumped from the balcony of her first floor flat at 3.30am to escape her abusive husband, one week into their marriage.

The 21-year-old emotionally and physically battered bride required surgery, having suffered multiple fractures on four toes in the fall.

She was forced by her family into an arranged marriage on March 14, four days before the movement control order (MCO) was enforced in Malaysia because of the Covid-19 outbreak.

On the first day of the MCO, her husband began beating her. He threatened to hunt ‘Nellie’ and kill her if she tried to flee.

‘Nellie’ was recently discharged from the hospital and is at a Women’s Aid Organisation (WAO) shelter where she is being assisted with case management.

The story of ‘Nellie’ paints a bleak picture of life for women for whom the lockdown of fear and abuse has intensified.

The Covid-19 crisis seems to have brought out the worst of human behaviour with reports of violent offences lighting up helplines.