South African insurer OUTsurance says that its car accident claims are falling as people are cutting down on driving given the depressed economy, and because of improved vehicle safety technology and ride-sharing apps (like Uber).
In domestic motor business, claims costs are being driven up by the increasing cost of repairs on new technology, though claim frequency is flat, says Taylor Fry, an analytics and actuarial consulting firm.
The UAE Insurance Authority (IA) is working to apply a vehicle technology system to monitor the behaviour of drivers and to guide them so as to avoid traffic violations.
Heavy penalties set out in the new Motor Vehicles Act are believed to have led to an increase in sales of motor insurance policies.
Insurance companies have said the poor performance of compulsory motor third-party liability insurance business is making victims of road carnage more vulnerable, calling for the amendment of its legal framework.
Online motor insurer Beema has launched a pay-per-km auto insurance scheme that gives cashbacks to eligible policyholders.
India: Regulator forms working group to link motor premiums with traffic violations
The Central Bank of Bahrain (CBB) requires insurance companies to provide motor insurance policyholders with original vehicles spare parts for their damaged vehicles in the event that they cannot provide used spare parts that are in good condition.
Personal mobility devices such as electric scooters have been gaining popularity worldwide but seems to always come hand-in-hand with controversy. According to a new medical study in New Zealand, which covered a five-month period at the Auckland City Hospital, injuries from electric scooter mishaps can be as severe as those from vehicle accidents.
The Jordan Insurance Federation (JIF) has announced that insurers have, after a two-month hiatus, resumed granting a 15% discount on premiums for vehicles with a clean traffic record in the previous year.