The general insurance market grew by 20.6% to IDR39.95tn ($2.8bn) in terms of gross premiums in the first half of this year, compared to the corresponding period last year, according to data from 75 general insurance companies compiled by the Indonesian General Insurance Association (AAUI).
Sales of passenger vehicles in India plunged by 31% in July, the ninth straight month of declines and the sharpest one-month drop in more than 18 years, according to figures released by the Society of Indian Automobile Manufacturers (SIAM).
The Compulsory Motor Insurance Group has finalised its draft constitution, including the shares in the pool of the 16 insurers which are members.
The number of traffic accidents in the first five months of this year in Cambodia rose by 20% from the corresponding period last year to 1,829, revealed Colonel They Visal, chief of the Cambodian Traffic Police Office.
The Motor Vehicles (Amendment) Bill, 2019 is finally before the Indian President awaiting his final nod, after having been passed by both houses of Parliament at the end of last month.
The Financial Services Authority (OJK) has assessed that changes in premium rates in the property and motor insurance business lines are not yet needed. Even so, any change can still be decided after a review of data for the second half of this year.
With Australian legislation being way behind the technological advances of driverless cars, there is a risk of early adopters being on the roads without insurance coverage according to Barry.Nilsson.Lawyers principal Henry Silvester who will address this topic with delegates at the Australian Insurance Law Association (AILA)'s national conference later this year.
Major non-life insurers in Japan are planning to increase automobile insurance premiums by about 3% in January next year, reported local news agency Jiji Press citing industry sources.
With positive developments in all its business segments, global insurer Generali saw its operating result grow by 7.6% to EUR2.72bn ($3.05bn) and its net profit (including the result of discontinued operations) jump by 34.6% to EUR1.8bn in the first half of 2019.
The Motor Vehicles (Amendment) Bill 2019 passed by the Indian parliament on 31 July 2019 will amend the provisions under the Motor Vehicles Act of 1988 and enforce stricter penalties for road traffic violations.