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Motor tag returned 869 results

  • Jordan: Mandatory motor insurance system covers all accidents except for criminal or deliberate acts

    The compulsory insurance system for vehicles covers all motor accidents by vehicles that are fully insured unless they constitute a felony or intentional misdemeanour, the director of the Insurance Department of the Ministry of Industry, Trade and Supply, Mr Wael Mahadin, has said.

    Middle East | 01 Mar 2021
  • UAE: Motor insurance prices expected to continue to fall in 1Q

    Motor insurance premium rates are expected to fall further in the first quarter of this year, continuing a decline which started since the onset of the COVID-19 pandemic last year, according to Mr Frank Heimburger, chief personal lines officer at AXA Gulf.

    Middle East | 21 Feb 2021
  • 2/3 of regional markets show higher motor insurance premium income in 2020

    Motor insurance business nationwide recorded an increase of a marginal 0.7% in premium income to CNY824.5bn ($127.7bn) in 2020, the regional perspective shows that most markets still maintained positive growth last year.

    China | 19 Feb 2021
  • Motor insurance markets in China chalked up underwriting gains of US$3.7bn in 2020

    The 36 insurance markets in China, formed by provinces, autonomous regions and municipalities, showed a total underwriting profit of 24bn ($3.7bn) in auto insurance business.

    China | 19 Feb 2021
  • India: More needs to be done to reduce road accidents

    India witnesses close to 500,000 road accidents every year resulting in over 150,000 deaths, serious injuries and damage to vehicles and insured losses running into millions of dollars. Despite many efforts by the government and various organisations the situation on the ground has not improved much with an average of 53 road accidents happening every hour across the country. A recent World Bank report states that India, with one per cent of the world's vehicles, accounts for 10% of all road crash victims. Building safe infrastructure is one of the major aspects of addressing this issue, the report said.

    AIRPlus | 18 Feb 2021
  • Thailand: MSIG in venture offering kingdom's first 'pay as you drive' motor insurance plan

    AIS Insurance Service, which is a part of the mobile and digital services company AIS, is working with MSIG, a global leader in insurance and financial services, with the support of the Office of Insurance Commission (OIC), to launch "Prakan Kubdee" (Good Driving Insurance), a full InsurTech vehicle insurance plan for the first time in Thailand.

    Asia | 18 Feb 2021
  • India: More than 3/4 households see income fall after auto accident

    More than 75% of poor households in India reported a decline in their income as a result of a road traffic crash. The financial loss for the poor amounted to more than seven month's household income, while it was equivalent to less than one month's household income for rich households, says a new World Bank report.

    Asia | 17 Feb 2021
  • Nigeria: Price undercutting hits motor insurance sales through mobiles

    Third-party liability motor insurance sales through the Unstructured Supplementary Service Data (USSD), channel, otherwise known as mobile insurance, are being undermined by rate cutting, according to insurance practitioners.

    Africa | 15 Feb 2021
  • South Africa: New competition guidelines will make motor insurance pricing more transparent

    InsurTech company Naked Insurance has said that new guidelines from the Competition Commission that aim to promote more competition in South Africa's automotive aftermarket, including insurance, repairs, and financing, will make pricing practices more transparency and give consumers more choice if they are widely supported by the automotive industry.

    Africa | 15 Feb 2021
  • Turkey: Insurance association says motor compensation sums are to be calculated based on General Conditions

    The Turkish Insurance Association (TSB) has said that insurance companies are to make compensation calculations for motor third party liability insurance business in accordance with the General Conditions of Highway Motor Vehicles Compulsory Financial Liability Insurance.

    Middle East | 10 Feb 2021

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