The Malaysian Bar - Bar Council’s memorandum on proposed scheme by Bank Negara Malaysia to cover third party bodily injury and death

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Bar Council’s memorandum on proposed scheme by Bank Negara Malaysia to cover third party bodily injury and death

Wednesday, 10 March 2010 10:34am

Bank Negara Malaysia plans to introduce a new scheme to cover third party bodily injury and death, which it has indicated will be finalised for implementation in the second half of 2010.

This scheme, titled “Skim Asas Perlindungan Kecederaan dan Kematian Pihak Ketiga”, would replace the current tried-and-tested tort liability-based common law system.

The Malaysian Bar opposes this proposal, which will in all likelihood introduce far-reaching changes, for the following reasons:

•	The reforms seem to be driven by the insurance industry on the basis of profitability and viability, and will be to the detriment of the motor accident victims, their families and dependants;

•	The reforms are against the public interest;
•	The working committees that have been established currently only comprise insurance companies and no other interested groups have been invited to provide input;
•	Despite the proposed scheme’s far-reaching consequences, no details have been revealed regarding the mechanics, funding and operation of the proposed scheme; and
•	The scheme is being proposed without any consultation of the relevant stakeholders, such as the Bar Council and public interest groups, or the public at large.

For details, please refer to the following documents:

1)	Bar Council’s memorandum on proposed scheme by Bank Negara Malaysia to cover third party bodily injury and death;
2)	Bar Council’s press release on the proposed scheme; and
3)	“Motion regarding proposed scheme by Bank Negara Malaysia to cover third party bodily injury and death” proposed by Ragunath Kesavan (Chairman, Bar Council), on behalf of the Bar Council, dated 5 March 2010 (pages 20-21), which will be considered at the 64th Annual General Meeting on 13 March 2010.

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