Regulations need to be drafted to cover the issue of equivalent parts in compulsory motor third-party liability insurance (also known as traffic insurance), according to Mr Davut Mentes, the president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).
S&P Global Ratings (S&P) says that it is too early to assess the full financial impact of the floods ravaging the UAE over the past week and that therefore, negative rating actions are unlikely at this time.
Insurance industry figures have once again called for the free pricing of motor compulsory third-party liability insurance (also called traffic insurance) to resolve underwriting losses in this insurance branch.
Insurer AAMI, which is part of the Suncorp Group, has announced a new research project which will test whether financially rewarding young drivers in New South Wales would encourage safer driving behaviour, reducing accidents and injuries.
Insurance specific to electric vehicles (EVs) will be launched on 1 July 2024, the Financial Supervisory Commission (FSC) announced.
The insurance premium for Xiaomi Automobile's first electric vehicle (EV) model is similar to that for fossil-fuel-powered cars which are about 66% more expensive.
The entry of new players in the list of the top 10 motor insurers in India has changed the competitive dynamics of the country's related insurance industry, said data and analytics company GlobalData.
The Bangladeshi Cabinet has approved a draft law that would make insurance compulsory for all registered vehicle owners.
The government is finalising new regulations to set up a state-run motor third-party liability vehicle insurance scheme to underwrite compulsory vehicle liability insurance.
Compulsory motor third-party liability (CMTPL) insurance business, also referred to as traffic insurance in Türkiye, chalked up a technical loss of TRY13.7bn ($424m), after offsetting investment income, in 2023. The loss widened from TRY11.7bn in 2022, Insurance Association of Türkiye president Ugur Gulen said when he reviewed the performance of the insurance industry..