Bank Negara Malaysia (BNM)

Bank Negara Malaysia, commonly known as BNM, is Malaysia’s central bank, and it also regulates the insurance industry, including the companies that provide motor insurance.

BNM has overseen changes to the motor insurance framework affecting schemes such as the Motor Insurers’ Bureau and the Malaysian Motor Insurance Pool, two bodies explained in the difference between MIB and MMIP. It does not handle individual claims itself.

BNM also publishes consumer guidance on motor insurance, which can help you understand your rights as a policyholder. If you have a complaint about how an insurer handles claims, BNM’s consumer channels are a further avenue beyond the insurer itself.

BNM is a regulator and will not step into a single dispute over your compensation. When an insurer disputes or undervalues your claim, an independent lawyer can act on it for you.