I am surprised that despite the highlighting of this issue by the Consumers Association of Subang and Shah Alam, Selangor (Cassa), nothing has come out from Bank Negara in addressing the much speculated ‘no fault claim’ proposal.

I sincerely hope that Bank Negara officials are not so insensitive as not to know that public/ consumer sentiment on the ground towards any radical change of policies affecting them will bring resentment, drastic opposition and a groundswell of dissatisfaction towards the federal government.

I am aware that many groups have requested for a briefing from Bank Negara on the issue of the ‘no fault claim’ but sadly this has yet to materialise. Why the fear and why the uneasiness for a joint discussion with stakeholders?

It is all part of good governance and accountability and public policy initiatives should always be transparent. Is it because the insurance lobbyists and Bank Negara are in a symbiotic relationship of sorts?

Is it because this is a way to protect the insurance industry and their players at the expense of Malaysian consumers?

If this is mismanaged, this will hurt the Najib administration very badly at a time when the prime minister is working at breakneck speed to bring the country’s constituents together with policies that will protect their rights and interests.

My humble advice to Bank Negara is to refrain from any acts or omissions that may be seen as being extremely cordial to the insurance lobbyists and their cronies at the expense of the consumers.

Malaysia is not the US, Australia, New Zealand or countries that are part and parcel of the European Union where there are social safety nets and 'parachutes’ to protect consumers, accident victims and families both for their short and long-term interests.

Bank Negara must be seen as being with the consumers and their stakeholders to protect consumer rights - not with the bourgeoisie in silk suits representing the industry or worse, their lobbyists.

The writer is president, Consumers Association of Subang and Shah Alam, Selangor.