Netizens suggest boycott insurance companies with premium hikes on the horizon

INSURANCE companies in Malaysia have posted growth in 2023, to which many may assume they’re doing fine. However, there are hints that there is a planned increase in premiums next year, and netizens are showing their disapproval.

Due to rising private hospital costs, we expect medical insurance premiums to rise between 40% and 70% next year. Many policyholders have cancelled their insurance, opting instead for employer-provided plans or government hospital services.

Many expressed dissatisfaction with the burdensome, unreasonable hikes. Hamidi, a user, reported a significant premium increase from RM188.47 to RM237.34. Consumers Association president Dr Jacob George criticised the hikes, urging transparency. Bayan Baru MP Sim Tze Tzin is collecting information on rising charges.

Following that, netizens on X have expressed their desire to boycott these companies. A post states that they made record profits last year. An X user boldly claimed that these price increases are a “daylight robbery.”

It is time to boycott the Insurance Companies.

This is daylight robbery.

— Raveendran Tharumalingam (@raveendran48531) November 28, 2024

Users are blaming the government, alleging that it allows companies to exploit them. While this is a bold claim, it reflects the sentiments of many netizens.

Standard lah… We voted out a government that stole our money, and voted in a government that allowed corporate to clean us up.

— Eddie (@eddienglfc) November 30, 2024

However, there are those defending these companies, citing that they need to make a profit to continue servicing their clients. Furthermore, an X user stated that the medical field is not as profitable as many would think, especially for these insurance companies. – Nov 30, 2024