KUALA LUMPUR, July 7 (Bernama) -- The government
is expected to implement the Third Party Bodily Injury and Death
(TPBID) insurancer scheme next year after the details are finalised
at the latest by year-end, the Dewan Rakyat was told.
Deputy Finance Minister Datuk Dr Awang Adek Hussin
said the government was currently discussing with relevant parties
to reach a unanimous decision before the scheme is implemented.
"Initially we thought we could finalise things
in a short period of time. However, the government still proposed
for a scheme to be worked out by year-end which may be implemented
next year," he said in reply to a supplementary question from
Loke Siew Fook (DAP-Rasah) here.
In his question, Loke had asked about the status
of the new TPBID scheme, when it would be implemented and whether
the government would ensure the interests of all parties were taken
Awang Adek said the current third party insurance
"I cannot deny the problems that exist, because
as everybody knows the scheme doesn't allow opportunities for returns
and actually incurs losses to insurance companies. Losses in the
third party insurance sector nationwide totals to RM900 million
"Because we have received feedback from important
parties, we had to carry out detailed negotiations with various
quarters in regards to an array of issues," he said.
He said among the issues that have arisen involved
government subsidies, court processes and the efficiency of the
claims payment process.
In reply to the original question from Loke and
Salahuddin Ayub (PAS-Kubang Kerian), Awang Adek said Bank Negara
Malaysia (BNM) had received various feedback on the new scheme
which will be given attention to.
"BNM will also cooperate with government
agencies and relevant parties to improve the insurance claim process
so that it is fast and efficient. The scheme's new mechanism will
be presented to the government after efforts are completed," he
Salahuddin had wanted to know if the government
planned to suggest and introduce a third party bodily injury and
death scheme, as well as the steps which have been taken by the