Insurance specific to electric vehicles (EVs) will be launched on 1 July 2024, the Financial Supervisory Commission (FSC) announced.
The insurance premium for Xiaomi Automobile's first electric vehicle (EV) model is similar to that for fossil-fuel-powered cars which are about 66% more expensive.
The entry of new players in the list of the top 10 motor insurers in India has changed the competitive dynamics of the country's related insurance industry, said data and analytics company GlobalData.
The Bangladeshi Cabinet has approved a draft law that would make insurance compulsory for all registered vehicle owners.
The government is finalising new regulations to set up a state-run motor third-party liability vehicle insurance scheme to underwrite compulsory vehicle liability insurance.
Compulsory motor third-party liability (CMTPL) insurance business, also referred to as traffic insurance in Türkiye, chalked up a technical loss of TRY13.7bn ($424m), after offsetting investment income, in 2023. The loss widened from TRY11.7bn in 2022, Insurance Association of Türkiye president Ugur Gulen said when he reviewed the performance of the insurance industry..
Nasdaq-listed Cheche Group, China's leading motor insurance technology platform, has entered into a partnership with Beijing Houji Insurance Brokerage Co, an affiliate of Xiaomi Corporation (Xiaomi Group), as Cheche continues to broaden its partner network with leaders in the new-energy vehicle (NEV) industry.
Leading insurance companies in China such as PICC, Ping An, and China Pacific (CPIC), and others, have set up their own independent technology units to conduct special research on insurance for new-energy vehicles (NEVs), according to Mr Zhang Lei, founder and co-CEO of Nasdaq-listed Cheche Group.
Bahrain Kuwait Insurance Company (BKIC), which is part of the regional insurance group Gulf Insurance Group, has launched distance-based motor insurance, which it offers exclusively online.
Takaful companies paid out a total of MYR8.74bn ($1.85bn) in 2023, 24.40% higher than in 2022, according to data released by the Malaysian Takaful Association (MTA).