The Compulsory Insurance Programme, including vehicle insurance, is still awaiting the issuance of rules as the regulatory framework for its implementation, according to Mr Ogi Prastomiyono, chief executive of the Financial Services Authority's (OJK) Insurance, Guarantee, and Pension Fund Supervision.
The rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The traditional motor insurance brokerage model, which relies solely on providing basic intermediary services, has become insufficient to meet market demands. Facing this challenge, motor insurance brokers need to undergo self-innovation and actively involve in digital transformation.
PIAM, the General Insurance Association of Malaysia, says that it enthusiastically supports the Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements.
The Ministry of Transport and Logistics is studying a review of the legal framework for motorcycle insurance, in light of the growth of delivery services especially in major cities.
Najm for Insurance Services Company (Najm) has launched a new telematics initiative to improve road safety in Saudi Arabia. The motor services company has already partnered with a number of insurance companies to adopt the new telematics system.
Atlantique Assurance will offer accident insurance (100% coverage) and health insurance (80% coverage by the insurer and 20% by the insured) to all Bee motorcycle taxi drivers, announced the Cameroonian company Bee Group, engaged in motorcycle transportation and delivery services.
The Chinese government's "trade-in old cars for new cars" incentive scheme is expected to generate 1%-2% market growth for the motor insurance sector.
The Tunisian Federation of Insurance Companies (FTUSA) has launched an information system to help users determine the sale prices of new or used cars, according to the federation's executive director, Mr Hatem Amira.
The increasing adoption of EVs in India is not only reshaping the India motor industry but also revolutionising the motor insurance segment in the country.
Thailand's rapidly expanding electric vehicle (EV) market could face setbacks if insurance companies refuse to provide coverage for EVs, says the Thai Automotive Industry Association (TAIA).