It’s not the time to raise premiums, Fomca tells insurance firms

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Fomca says it is wrong to raise medical insurance premiums as consumers are suffering.PETALING JAYA: A consumer group has slammed the alleged increase in medical insurance premiums, saying the move is ill-timed.The Federation of Malaysian Consumers Association (Fomca) said it has received several complaints from policyholders over the increase recently.It said many policyholders are affected, especially because the movement restrictions have either affected incomes or led to retrenchment.“This is not the time to increase insurance premiums,” Fomca president Marimuthu Nadason said in a statement. “It is wrong and unacceptable for insurance companies, at this time, to raise premium prices to make excessive profits. Consumers are already suffering.”He urged those affected by higher premiums to inform the association, and those who have not received any notices of price increases t…