The Ministry of Human Resources and Social Development, with the Saudi Central Bank (SAMA) and Najm Insurance Services Company, has begun to link insurance policies to domestic worker contracts in a non-compulsory experimental manner.
Finance Minister Nirmala Sitharaman, in her annual Union Budget speech yesterday, proposed to provide that where the aggregate of premiums for life insurance policies (other than unit-linked insurance policies [ULIPs]) issued on or after 1 April 2023 is above INR500,000 ($6,115), income from only those policies with an aggregate premium up to INR500,000 shall be exempt from income tax.
The Federal Government has commissioned an independent review into Australia's disaster funding arrangements, to ensure government investment in disaster funding is fit-for-purpose and effective in the face of increasingly frequent and more severe natural disasters.
The Ministry of Finance is drafting amendments to regulations relating to compulsory motorcycle third-party liability insurance, such as reducing tariffs, narrowing the exclusion of insurance liability and increasing the insurance compensation rate.
The State Administration for Market Regulation has approved the registration of a business name, "Shenergy Property Insurance Co, Ltd" on 16 January 2023, fuelling talk that the Shanghai government-owned group will be taking over an insurance company.
The Insurance and Social Welfare Supervisory Authority (ACAPS) has started the process of designing a gauge dedicated to monitoring the insurance penetration rate and the contributions of insurance players.
Ghana has reached an agreement with the country's insurers on a domestic debt exchange, taking it closer to completing this programme, a key factor in restoring economic stability and growth, reported Reuters citing the Finance Ministry.
The Ministry of Public Health (MoPH) has announced that the implementation of the first phase of the mandatory Health Insurance Scheme in Qatar will begin on 1 February 2023, with all visitors to the country required to have a health insurance policy.
The Office of Insurance Commission (OIC) is seeking to establish a certification system for medical centres so as to drive the insurance market by raising the standards and quality of services of medical facilities.
The Financial Supervisory Commission (FSC) has asked the Taiwan Central Depository and Clearing Corporation to establish an online retirement preparation platform to meet the needs of an ageing society through promoting protection, retirement investment and public welfare.