Insurance policyholders in Indonesia will be required to cover at least 10% of the total outpatient or inpatient claims incurred at medical facilities, according to new rules set by the Financial Services Authority (OJK) to implement risk-sharing between insurers and policyholders. The new stipulation will come into effect from 1 January 2026.
Japan will set a goal of reducing an estimated life toll of up to 298,000 deaths from a potential megaquake occurring in the Nankai Trough by around 80% over the next 10 years according to a report by Kyodo News.
China will soon bring in mandatory safety requirements for driving assistance systems in the country. China's Ministry of Industry of Information Technology recently put forward a proposal to this effect.
The Motor Trades Association of Australia (MTAA) has expressed deep disappointment at the decision by the Australian Competition and Consumer Commission (ACCC) to approve Insurance Australia Group's (IAG) acquisition of RACQ's insurance operations.
Intensifying geopolitical rivalries, policy uncertainty and competition for critical minerals are reshaping the risk landscape as well as driving demand for protection and these in turn are giving a boost to credit and political risk insurance according to a new report.
Aon Singapore has appointed Ms Tisha Soh as head of the client services team, according to a LinkedIn post. In her new role, she will lead the client services team, using her wealth of experience and energy to strengthen how Aon Singapore supports clients and each other.
Global claims services provider McLarens has appointed Mr Torben Bell as managing director of its operations in Australia.
The latest review of insurers' claims handling practices by the Australian Securities and Investments Commission (ASIC) has found that while insurers implemented programmes to improve claims handling functions in recent years, and some progress has been made, there is still significant room for further improvement.
Australian insurer TAL paid out A$4.7bn ($3bn) in claims over the last financial year (31 March 2024 to 31 March 2025) to 54,000 customers, according to figures released. Living insurance, including income protection and total and permanent disability cover, accounted for 74% of the total claims paid.
Halliwell, a forensic and technical consultancy, has expanded its services in APAC following the acquisitions of IMPARTA Engineers, an insurance-focused technical engineering and structural diagnostics consultancy, and asset purchase of du Chateau Chun, a firm of specialist building regulation, code and compliance advisors.