Several large domestic insurance companies, including Ping An, PICC, and China Pacific, have begun to develop and design motor insurance plans for new energy vehicles, or are implementing related plans.
More than one third of US motorists worry about possible cyber-attacks on their connected vehicles according to a survey by HSB Insurance.
Motorists will be able to receive claims if they were involved in an accident during curfew hours, the insurance regulator has clarified.
Comprehensive auto insurance reforms are estimated to save policyholders at least CNY150bn ($23bn) a year based on market experience of the last six months or so since the reforms were launched on 19 September 2020.
The Ministry of Land, Infrastructure and Transport announced last month that all insurance payouts will be charged to motorists who cause accidents when they drive while they are under the influence, or when they don't have a driving licence or who are involved in hit-and-run accidents.
Morocco is putting the final touches on takaful, which is seen as key to supporting the growth of participatory finance in the country mainly triggered by real estate.
Motor insurance business in China showed a small recovery of 5.2% in February with premium income reaching CNY38.6bn ($5.9bn), compared to the CNY36.7bn premium of the corresponding month in 2020, according to data released by the CBIRC. This was the first month in which monthly motor insurance premiums had increased since the introduction of comprehensive auto insurance reform in September 2020.
An analysis of CBIRC data for the first two months of this year shows that the cumulative premium income of motor insurance business accounted for less than 50% of the total premium income of property insurance companies.
Malaysian Re released the second issue of its Malaysian Insurance Highlights 2020 in late February, covering the development of the insurance industry throughout the year - examining the impact of the COVID-19 pandemic on Malaysia's economy and its insurance markets. We spoke to president and CEO Zainudin Ishak about the results and its implications on the industry's future.
Hijackers are re-surfacing as COVID-19 lockdown restrictions are eased, reported BusinessTech.co.za quoting Security services company, Vision Tactical.