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Mar 2019

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Taiwan: 'Spillover' policies attracting interest

Source: Asia Insurance Review | Jan 2019

Premium income generated from ‘spillover’ insurance in 2018 is expected to surpass that of 2017, the Financial Supervisory Commission has said.
 
Spillover insurance is named after the ‘spillover effect’, which refers to events in one sector affecting events in another sector, the commission said.
 
For instance, spillover policies were introduced in Taiwan in 2016, to encourage clients to change their lifestyle to improve their health in return for a reduced premium or bonuses.
 
Spillover insurance premiums reached NT$102.92m ($3.33m) in the first 10 months of 2018 with 3,949 policies sold, reported Taipei Times citing the FSC. In 2017, the premiums totalled NT$114.26m, an official said.
 
To date, there are nine such policies in the market, provided by five insurers, five of which are health insurance policies, while the other four offer rewards to clients for staying active, the FSC said. A 
 
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