Vehicle insurance prices have risen by more than 50%, sparking calls for a review of motor insurance pricing, especially for motorists who have accident-free records.
The Insurance Regulatory Unit (IRU) is working on a project to digitise compulsory motor third-party liability insurance policies for cars.
The total number of traffic accidents across Turkiye in 2022 stood at 485,000, according to statistics released by the Traffic Department of the General Directorate of Security.
Most of the ugly behaviours exhibited by motorists on the road when an accident happens stem from the low level of insurance awareness. This has also led to the menace of fake insurance particulars.
The performance of the insurance industry in China in 2023 is expected to improve compared to 2022, according to insurance experts. Prospects for the property insurance sector are bright.
The Saudi Central Bank (SAMA) has made amendments to the Unified Compulsory Motor Insurance Policy, that provide among other things an option where the third party is entitled to choose between direct cash compensation, or to get the damaged vehicle repaired.
The Central Bank of the UAE (CBUAE) has identified three situations in which insurance companies are permitted to grant customers a discount on motor insurance premiums of up to 30%, provided that there are no traffic accidents caused by the insured that result in claims on insurers.
Prudential Singapore has been given the nod by regulator the Monetary Authority of Singapore (MAS) to set up a new financial advisory (FA) firm, promising a wider range of products and services to its customers.
Prudential Singapore yesterday announced that it would be setting up a financial advisory firm to offer a wider range of products and services to its customers, complementary to its life insurance offerings.
The insurance and legal circles in Morocco are debating the need to revise a dahir (King's decree) relating to insurance compensation for traffic accidents.