Insurers should settle cross-border motor insurance claims swiftly to promote trade and the movement of people in the Economic Community of West African States (ECOWAS), according to Mr Henry Bukari, the chairman of the Council of Bureaux of ECOWAS Brown Card Insurance Scheme.
Motor insurance premiums in Saudi Arabia achieved a record level of about SAR14.3bn ($3.81bn) in 2023, jumping by 38% compared to 2022, according to a study by the Financial Analysis Unit of the publication Al-Eqtisadiah.
Insurance brokers estimate that approximately 100,000 vehicles in the UAE were affected by the rains in April, with the number equivalent to the cumulative total of the past 12 years.
The Financial Services Authority (OJK) is urging general insurance companies to develop risk mapping for electric vehicle (EV) insurance, even as the regulator encourages the development of the EV insurance market.
There is a clear role for insurers in Australia to unlock the opportunities offered by the growing Electric Vehicle (EV) market, as well as to manage any potential risks, says the Insurance Council of Australia (ICA) in an industry paper.
The automobile insurance market in Côte d'Ivoire is doing well, according to the director of services at the insurer, NSIA Assurance, Mr Mel Bedje.
The Indonesian General Insurance Association (AAUI) has called for third-party liability (MTPL) insurance to be made mandatory for all vehicles, saying that the number of motor accidents has been rising.
Australia's peak motoring body, the Australian Automobile Association (AAA), says new figures revealing an 11.2% annual increase in road deaths send an unambiguous message that state governments must agree to Federal demands to share critical data about the causes of road trauma.
The mainland Chinese motor insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2bn ($127.4bn) in 2024 to CNY1,125.7bn ($158.9bn) in 2028, in terms of gross written premiums (GWP), forecasts data and analytics company GlobalData.
The number of vehicles covered by traffic insurance (also known as motor third-party liability insurance) in Turkiye exceeded 23.34m as of the end of March, according to data from the Insurance Association of Turkiye (TSB).