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Regulation tag returned 1008 results

  • Korea gears up to implement mandatory health insurance enrollment for foreign residents

    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.

    Asia | 24 May 2019
  • Taiwan: Life insurers to face tougher regulations

    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.

    Asia | 24 May 2019
  • Opening up of insurance market to be a factor in many strategic considerations

    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.

    China | 24 May 2019
  • China Taiping Insurance sets goals for Greater Bay Area

    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.

    China | 24 May 2019
  • Australia: Nat CAT costs hits performance of general insurers in Q12019

    Australia's general insurance sector recorded a 32.4% drop in underwriting results to A$2.8bn, due to claims from the Sydney hailstorm and Townsville flood as well as a strengthening of claims reserves in professional indemnity and mortgage classes.

    Asia | 23 May 2019
  • UAE: Insurance Authority releases details of reinsurance regulations

    Sultan Bin Saeed Al Mansouri, Minister of Economy, and chairman of the UAE Insurance Authority, has issued a resolution on regulations for reinsurance business, including the licensing and registration of reinsurance companies.

    Middle East | 23 May 2019
  • Philippines: Insurers see lower risk charges on infrastructure investments

    The Philippines' Insurance Commission (IC) has lowered the capital charges for investments made in infrastructure projects, reported local publication The Philippine Star. The move intends to spur insurers to participate in the state's significant infrastructure development efforts, and comes after the publication of IC Circular Letter No. 2019-19 which was recently signed by Insurance Commissioner Dennis Funa who said the move was announced following "the clamour of the insurance industry."

    Asia | 22 May 2019
  • Australia: Insurance Council calls on new govt to look at tax reforms on insurance products

    Following the re-election of Australian Prime Minister Scott Morrison, the Insurance Council of Australia (ICA) CEO and executive director Rob Whelan has reiterated the council's commitment towards working with the Morrison government on implementing reforms from the Hayne Royal Commission. In a statement congratulating Mr Morrison and the coalition on the election victory, Mr Whelan has called upon the new government to renew the tax reform agenda, with a focus on encouraging the removal of inefficient and unfair state taxes and levies on insurance products.

    Asia | 21 May 2019
  • Indonesia: 39 insurers yet to announce plans for spinning off takaful windows

    Only 10 insurance companies have declared that they would spin off their Islamic insurance windows as at the end of April, to comply with the insurance law, according to the Financial Services Authority (OJK).

    Middle East | 21 May 2019
  • Law enforcement is ineffective in the cyber space

    The most recent data from the FBI shows that they have arrested some 0.6% of all cyber criminals active globally and that they are struggling to keep up with the new threats and risks that are emerging every day. "We have to look at how we do things differently," said INTERPOL's assistant director of the Innovation Centre Directorate Doug Witschi.

    AIRPlus | 21 May 2019

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