VerifyMe Nigeria has launched a new service to verify the status of a vehicle licence in real-time, extending its portfolio beyond digital ID verification, biometrics, and consumer analytics.
Car owners have been given a grace period of 30 days to renew an expired driving licence in case they have caused an accident so that they would still be protected by motor insurance coverage, sources working in the insurance sector have said.
The average annual motor insurance premium charged in the first quarter of this year was in the range of CNY1,000 ($147) to CNY3,000, according to the 1Q2022 quarterly solvency reports filed by 59 property insurers as of 9 May. More specifically, the average auto premium for the 59 companies amounted to CNY2,015.
The CBIRC has issued a notice on regulating and promoting the development of commercial personal pension plans, outlining several principles to be followed by insurers and other financial institutions that engage in the business.
Over 80% of 155 insurance companies in China that have released their 1Q2022 solvency reports show a decline in solvency ratios as of 31 March 2022 compared to levels in 2021.
Although many in the insurance industry are predicting positive growth in Australia over the coming year, many issues that defined 2021 remain front of mind for 2022, with some of them also part of global insurance trends, states the legal services firm Sparke Helmore Lawyers which is a member of the Global Insurance Law Connect (GILC), an alliance of insurance law firms spanning four continents.
Taiwan's two main insurance industry associations have agreed to accept digital COVID-19 certificates of those who have been confirmed as positive as valid proof of infection, ending a standoff with the main financial regulator.
Ping An Insurance (Group) Company of China has announced that it has helped to develop China's first ESG disclosure standards, the "Guidance for Enterprise ESG Disclosure".
Insurance companies operating in the Egyptian market are urged to take into account sustainability in their investment decisions, Dr Mohamed Omran, chairman of the Egyptian Financial Regulatory Authority (FRA) has said.
The United Arab Emirates will introduce a form of unemployment insurance, the Cabinet announced yesterday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition.