To prepare for a new mandatory health insurance enrollment programme for long-term foreign residents in South Korea, the National Health Insurance Service (NHIS) has announced that it will run more support centres for foreigners in Seoul and Gyeonggi province according to a report from the Korea Biomedical Review. The centres aim to raise awareness on the programme among 1.68m long-term foreign residents.
The Financial Supervisory Commission (FSC) is set to impose stricter regulations on domestic life insurers in Taiwan from the second half of this year, which includes preventing companies from promising unrealistically high returns for their savings products, reported the Taipei Times citing an announcement from the FSC yesterday.
Seeking to fill in the protection gaps among Singapore's 'sandwich' generation, Great Eastern has introduced a critical illness term plan called 'GREAT Family Care' that protects three generations in a family within a single policy. The 'sandwich' generation refers to financially-burdened working adults who are supporting both ageing parents and young children.
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China will take a little longer to claim the title of the largest insurance market in the world, due to a temporary setback in 2018, says global insurer Allianz in its "Global Insurance Market at a Crossroads" report released earlier this week.
With the shift in the number of "true expats" entering and living in China, more and more regional and local insurance policies are being favoured compared to the all-inclusive international plans purchased years before, according to Mr Jason Armer, Pacific Prime China's country manager.
The increasing liberalisation of the Chinese insurance market is likely to be an important factor in many strategic considerations over the next year, says global law firm Norton Rose Fulbright in in an update on what is on the horizon for the insurance industry.
AXA Hong Kong and University of Hong Kong-Shenzhen Hospital (HKU-SZH) have signed an agreement that makes the hospital the first official medical partner of AXA Signature Network in the Greater Bay Area. Under it, AXA Hong Kong's customers are entitled to insurance direct billing service, says the insurer in a statement.
Hong Kong headquartered state controlled China Taiping Insurance has released a white paper on its goals for the Greater Bay Area (GBA), that include becoming a leader among global international insurance groups by 2035.
Chinese parties involved in the Belt and Road Initiative (BRI) face both political and technical challenges, on top of the cross border complexities of BRI transactions, notes international law firm Clyde & Co.