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Regulation tag returned 993 results

  • Nearly 84% of Indonesians covered by state-owned insurance

    Indonesia's Health Care and Social Security Agency (BPJS Kesehatan) customer service and expansion director Andayani Budi Lestari has disclosed that 83.94% of the population, or 221m people, are registered under the National Health Insurance and Indonesian Health Card (JKN-KIS) programme, reported The Jakarta Post. BPJS oversees both health coverage programmes for all employees, non-employees, self-employed and informal workers. The government has targeted for all Indonesians to have BPJS membership by this year.

    Latest News | 17 May 2019
  • Rules published for insurers to participate in credit derivatives

    The insurance regulator has issued rules which aim to allow and regulate the participation of insurance funds in credit derivatives to manage credit risk.

    China | 17 May 2019
  • Kuwait: Govt tightens anti-money laundering controls

    Kuwait's Ministry of Commerce and Industry has issued a decree requiring companies and institutions operating in the insurance, gold, banking and real estate sectors to appoint a Kuwaiti auditors from 1 January 2020 to combat money laundering.

    Middle East | 16 May 2019
  • Increased US tariffs to weigh on economic growth in China and the rest of Asia

    On 10 May, the US administration increased tariffs on $200 billion of Chinese imports to 25% from 10%. In response, China has said it will take retaliatory action. These developments will weigh on global economic growth.

    Agents | 15 May 2019
  • Complex risks require a lot more attention

    A new report 'What does the new era of liability mean for the regulator' by Russel Group has said that the insurers face threats from a lack of underwriting discipline, more robust market regulation and scrutiny and consequent exposure of management deficiencies.

    Asia Risk | 15 May 2019
  • Hong Kong: HKFI welcomes the IA taking over direct licensing & supervision of intermediaries

    The Hong Kong Federation of Insurers (HKFI) has welcomed the move that will see the Insurance Authority (IA) taking over the direct licensing and supervision of insurance intermediaries in September this year.

    Asia | 15 May 2019
  • China: Govt to combine rural and urban medical insurance schemes

    China is looking to establish its 'unified national medical insurance service' for both urban and rural citizens across all regions by the end of this year, reported state press agency Xinhua citing a circular issued by the National Healthcare Security Administration and the Ministry of Finance. The circular has urged seven provincial-level regions which have yet to fully integrate their medical insurance schemes to speed up their processes. To date, 24 provincial-level regions in China have combined rural and urban medical insurance schemes into one.

    Asia | 15 May 2019
  • New Zealand: Regulator urges life insurers to conduct themselves better

    The Financial Markets Authority (FMA) has raised concerns about issues within the local life insurance sector especially regarding conduct and culture. Speaking at the IFSO Conference 2019, director of regulation Liam Mason said that the FMA's recent review of the sector revealed that there was inadequate leadership as well as a lack of oversight of advisers and intermediaries as two main areas which led to poor customer experience.

    Asia | 15 May 2019
  • Thailand: Health insurance now mandatory for long-staying foreigners aged 50 and above

    According to a new rule approved in the cabinet, health insurance is now mandatory for foreigners aged 50 years and above who are seeking to stay long-term in Thailand. This seeks to reduce the financial burden placed by some foreigners who have not paid for their treatment in state hospitals, reported The Nation.

    Asia | 15 May 2019
  • Korea: New govt scheme could force foreign students to pay 7 times more in health premiums

    Foreign students studying in South Korea are now legally required to join the state health insurance system if their stay exceeds six months and this could lead to them paying nearly seven times more for health insurance premiums, reported Yonhap News Agency. Under the revised National Health Insurance Act effective from 16 July, foreign students would need to pay state health insurance premiums amounting to KRW678,000 ($ 571). Currently, most students covered under private health insurance policies only pay around KRW100,000 to KRW110,000 yearly.

    Asia | 14 May 2019

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