Two insurers are planning to start marketing the Philippines' first takaful products in the next 12 months, the Insurance Commission (IC) head has said.
The Australian government is establishing the Insurance Affordability and Natural Hazards Risk Reduction Taskforce as part of the federal budget to develop an integrated, cross-government approach to minimising the impacts of disaster on the community and help address insurance costs driven by more frequent and intense weather events.
China's insurance sector maintained steady operations and adequate solvency in the first quarter of the year, according to data released by the country's financial regulator.
The Securities and Exchange Commission of Pakistan (SECP) has put forward a proposal to the Federal Board of Revenue (FBR) for the upcoming 2024-25 Budget to reinstate income tax credits for individuals purchasing insurance plans.
The lnsurance Commission (lC) has promulgated the Consolidated Guidelines for Takaful Window Operation as the regulator recognises the need to provide broader insurance coverage and options for all Filipinos, especially those in the Muslim community. The regulator also recognises the growing takaful market.
Non-life insurers have agreed to resume farm insurance business after the government gave them its commitment to settle NPR970m ($7.3m) in premium subsidy arrears as soon as possible.
The Monetary Authority of Singapore (MAS) yesterday issued an updated set of Guidelines on Fair Dealing. A key change is that the scope of the Guidelines has been expanded to apply to all financial institutions (FIs), and all products and services they offer to their customers.
The IRDAI has issued a comprehensive Master Circular on Health Insurance Products, which aims to empower policyholders, ensure that they receive the highest standards of care and service, foster trust and transparency and bolster inclusive health insurance.
The Insurance Regulatory Commission of Sri Lanka (IRCSL) has introduced an Optional Compensation Scheme (OCS) through licensed general insurance companies to provide compensation to third-party victims of motor vehicle accidents or their legal heirs.
The Australian Consumers Insurance Lobby (ACIL) is calling for significant reforms to the General Insurance Code of Conduct.