By Debra Chong - The Malaysian Insider
KUALA LUMPUR, March 6 — The Bar Council has demanded for Bank Negara Malaysia to reveal details of a proposed revamp to the basic scheme for third parties to claim insurance payment in cases of bodily injuries and/or death in motor accidents.
The peninsula-based lawyers’ group said the scheme is estimated to cost RM500 million to set up but there have not been any details from Bank Negara, which oversees the local insurance industry.
The council said it was worried because the central bank has not consulted it or the public despite the possibility that the new scheme could take effect as early as July 1.
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