The insurance regulator is proposing that compensation amounts in compulsory motor third party liability (CMTPL) insurance and commercial motor insurance be raised in a forthcoming sweeping round of reforms in the auto sector.
QBE is underwriting a new Australian direct car insurance offering aimed at women by Stella Insurance, a company that was founded by a woman, Ms Sam White, and is staffed by women.
The problem of claim recovery among motor insurers has entered the spotlight as one of the main challenges facing the insurance companies.
Saudi Arabia's General Department of Traffic has reminded all vehicle owners to have valid vehicle insurance. The Department says that it would resume imposing penalties for traffic violations with effect from 22 July.
The total damage suffered in heavy floods in several parts of the country in June is estimated at about TRY38m ($5.54m), Mr Atilla Benli, president of the Turkey Insurance Association (TSB), has said.
The UAE Insurance Authority has revealed that the average car insurance premium decreased by 15.6% during the coronavirus pandemic period, compared to the average price over the past year.
With COVID-19 driving down automobile activity, auto insurers in Texas could reap a windfall estimated between $606m and $869m, according to non-profit organisation Texas Appleseed (Appleseed).
New-vehicle sales in China continued to rebound for the third straight month in June as the industry recovery from the coronavirus outbreak gained more speed, reported Bloomberg.
The government plans to launch a cashless treatment scheme for road accident victims with a cap of INR250,000 ($3,300) per case, to ensure that victims have immediate medical care.
The insurance sector in Saudi Arabia suffered motor fraud involving an estimated total of SAR1.2bn ($320m) last year, according to industry players.