The Actuarial Society of South Africa (ASSA) has released a research paper advocates replacing the current Road Accident Fund (RAF) system with a robust, financially stable hybrid solution that will fairly and timeously compensate future road accident victims.
The Financial Supervisory Service announced that, together with the Korea Insurance Development Institute and non-life insurers, refunded KRW1.36bn ($1.0m) in improperly inflated motor insurance premiums to 2,289 victims of auto insurance fraud last year, reported Yonhap news.
The move by the Queensland government to introduce reforms related to the use of e-mobility devices on roads and footpaths has been welcomed by the Insurance Council of Australia (ICA). There has been a surge in serious injuries and deaths due to these e-mobility devices.
Beijing is the first city in China to launch the development and application of commercial insurance for intelligent connected new energy vehicles (NEVs). The initiative aims to upgrade existing NEV insurance and enable unified coverage for L2-L4 intelligent connected vehicles, according to Xinhua News Agency.
Thailand's insurance regulator, the Office of the Insurance Commission (OIC), recently instructed a delegation and a number of insurance companies to raise public awareness about the importance of travel insurance.
As part of its expansion in Australia, Sompo has recruited a highly experienced team of local underwriters who bring established expertise across property, casualty, financial lines, energy and construction.
Gulf General Cooperative Insurance Company announced that Mr Anuj Agarwal, CEO, has submitted his resignation with his last working day set for 15 April 2026.
The Financial Regulatory Authority (FRA) has released regulations for applying depreciation rates in motor insurance to achieve a balance between customers receiving fair compensation and market stability and curb disputes.
Hanwha General Insurance announced that it achieved its highest-ever auto insurance revenue within six months of merging with Carrot Insurance.
The South Korean insurance industry will fund the review committee that will consider the appropriateness of allowing vehicle accident victims with minor injuries to claim the costs of medical treatment that lasts for eight weeks or longer.