Starting on 1 March 2023, Taiwan's National Health Insurance (NHI) will cover procedures performed by the robotic surgical system, Da Vinci Surgical Systems.
The Financial Supervisory Commission has announced that the life insurance sector raised capital totalling NT$58.7bn ($1.94bn) in cash in 2022, representing a three-year high while the property insurance sector increased its capital by NT$98.5bn, a hike of 911 times over funds of NT$1.1m raised in 2021.
The mental health of around 4.43m adults in Taiwan was affected by the COVID-19 pandemic in 2022 according to a new survey conducted by the Mental Health Foundation of Taiwan.
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children.
Nan Shan General Insurance's reported capital and surplus declined by more than half during the first nine months of 2022 to NT$2bn ($65.25m), notes AM Best.
As the US Federal Reserve (Fed) continued to raise interest rates, Taiwanese life insurance companies have increased the declared interest rates on foreign-currency denominated insurance policies. However, the insurers have been directed by the Financial Supervisory Commission (FSC) to desist from doing so.
With effect from 30 November 2022, owners of mini electric two-wheel vehicles have to acquire compulsory motor third-party liability insurance and obtain a license plate for their vehicles.
Life insurers in Taiwan have reduced their exposure to mainland China to a record low due to the COVID-19 pandemic, economic uncertainty and a declining property market, data released by the Financial Supervisory Commission (FSC) show.
The life insurance market in Advanced Asia Pacific is expected to see premiums decline by 6% in real terms in 2022, according to Swiss Re Institute (SRI).
The Financial Supervisory Commission (FSC) has given the nod to Chubb International Investments assuming from Cigna Taiwan Life Assurance the latter's business, specific assets and liabilities in Taiwan.