The Insurance Regulatory Commission of Sri Lanka (IRCSL) has introduced an Optional Compensation Scheme (OCS) through licensed general insurance companies to provide compensation to third-party victims of motor vehicle accidents or their legal heirs.
The Australian Consumers Insurance Lobby (ACIL) is calling for significant reforms to the General Insurance Code of Conduct.
Algeria's proposed revision of the insurance law should provide for the creation of an independent regulatory authority to oversee the insurance sector.
The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm.
The Tanzania Insurance Regulatory Authority (TIRA) is encouraging the registration of healthcare providers in the country to facilitate identifying them and rendering them help when needed, such as when they are not paid on time or in full by insurers. Registration can be carried out online nationwide.
Algerian President Abdelmadjid Tebboune has ordered the postponement of a Bill, which when passed would update and modernise the insurance law.
The listed financial services subsidiary of the automobile manufacturing group Mahindra & Mahindra has obtained a certificate of registration from the IRDAI for a corporate agency licence.
The Insurance Authority, Hong Kong's regulator, has welcomed a decision made by the government to appoint Mr MM Lee as executive director of general business and Mr Marty Lui as executive director of long term business.
The removal of a restriction that limits the number of Chinese insurers allowed to cooperate with a commercial bank branch to a maximum of three will benefit life insurers' new business sales in the bancassurance channel, particularly for those with more recognisable brands, says Fitch Ratings.
The Hong Kong Insurance Authority (IA) says that its inspections, intelligence received, and mystery shopping have continued to reveal business models adopted by certain licensed insurance broker companies that appear obviously to rely on unlicensed persons to sell long-term insurance policies to Mainland China Visitors (MCVs).