The Life Insurance Association of Malaysia (LIAM) says it will start publishing data on medical procedure costs in private hospitals from mid-2025 in line with a directive by Bank Negara Malaysia (BNM). The public will then be able to compare medical costs between private hospitals.
The insurance regulator in Ghana is revamping the method for calculating the insurance penetration rate calculation, by adding data for branches such as health insurance and pension insurance to the computations.
The central bank, Bank Negara Malaysia, yesterday released a policy document specifying the minimum requirements for enhanced consistency and comprehensive transparency aimed at improving information disclosure of financial products offered by financial service providers (FSPs), including insurance companies and takaful operators.
Finance Minister Nirmala Sitharaman has said that the cost of insurance to policyholders is expected to fall if the GST Council recommends a reduction in the GST rate on health and life insurance policies.
With effect from 30 November 2024, all mini electric bikes or scooters should be covered by compulsory automobile third-party liability insurance, and must be registered, and display the licence plate.
The National Insurance Commission (NAICOM) has directed insurance companies to settle all outstanding claims by 31 December 2024, in a move to ensure industry credibility and sustainable growth.
Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), has signed a Memorandum of Understanding (MoU) with Casablanca Finance City Authority (CFCA), the managing entity of Casablanca Finance City (CFC) in Morocco.
Tourists visiting in Bahrain will soon need to include health insurance as part of their visa application process, with an additional fee to cover emergency and accident-related care.
The Ministry of Transport (MOT) will look at the implications of making car insurance compulsory for private car passengers.
Finance Minister Ms Sihem Boughdiri Nemsia last week announced the establishment of the Tunisian Agency for the Fight against Fraud in the Insurance Sector.