The Financial Services Authority (OJK) has issued a regulation concerning the governance and constitution of insurance mutuals.
The Insurance Development and Regulatory Authority (IDRA) has appointed four of its officials as observers at four life insurance companies for their failure to protect the interests of policyholders.
The Financial Services Council (FSC) says that the implementation of the new Life Code of Practice with effect from 1 July 2023 will introduce over 50 comprehensive consumer protections that will change the way customers interact with their life insurers.
The Ministry of Human Resources and Emiratisation has clarified that the subscription fees for the mandatory unemployment insurance scheme are borne by employees working in the private sector and public sectors, both citizens and expatriates.
The Finance Ministry is drafting decrees and circulars, focusing on making insurance products and insurance policies more transparent, according to Finance Minister Ho Duc Phuc.
The Securities and Exchange Commission of Pakistan (SECP) has issued requirements for a grievance handling mechanism for the insurance sector to ensure effectiveness, robustness, and uniformity in resolving complaints with the objective of protecting policyholders.
A new Bill on insurance will be submitted to Algeria's two chambers of Parliament before the end of 2023, Prime Minister Aymen Benabderrahmane has said.
The testing phase for the Traffic Insurance Bidding Platform started on 1 June, according to Mr Mehmet Akif Eroglu, the president of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK).
Insurers, insurance regulators and governments cannot be satisfied with what has been achieved so far in agricultural insurance, says Dr Corneille Karekezi, group managing director and CEO, Africa Re.
Agricultural insurance is not the only factor that can improve food security, according to Mr Gael Certain, head - Agriculture EMEA, and Mr Mario Wilhelm, head - Middle East & Africa Public Sector Solutions, both of Swiss Re.