There were, in fact, lots of deliberations in this regard and brushing aside the prevailing fears among concerned workforce, Finance Minister Datuk Seri Najib Abdul Razak has stated emphatically that the government has no intent of abolishing third party insurance for the reason that it is a obligatory requirement under the Road Transportation Act 1987. It is to be noted that the Finance Minister Datuk Seri Najib Abdul Razak told all these to Dewan Rakyat.

It has also come to the knowledge that the government does not have any plan to bring insurance protection for cars that are in excess of 10 years old and those valued at RM10,000 and below to an end.

Finance Minister Datuk Seri Najib Abdul Razak, relating to a written reply to a question from Siti Zailah Mohd Yusoff (PAS-Rantau Panjang), said the difficulties faced by the public to get third party insurance was because of insurers being reluctant to disburse large claims that were higher than the value of premium imposed on such cars.

"Although insurers are being more careful in offering individual third party motor insurance, the public can still get third party coverage from the Malaysian Motor Insurance Pool (MMIP).”

"And in realizing this difficulty, a new insurance scheme has been announced under the 2010 Budget. The scheme would also have a quick and easy insurance claims process," he said.

On the word of him, Bank Negara Malaysia in cooperation with Finance and Transport Ministries was in the process of making a meticulous analysis of the absorption of a suitable motor insurance scheme mechanism. "This is apart from the holistic study being conducted to improve access, efficiency and strength of the motor insurance sector," he said, adding details of the mechanism will be announced later.