Lockton has appointed Ms Juliet Kwek as head of people solutions, Greater China.
The Taiwanese cabinet has approved an amendment in the country's Insurance Act that bars the courts from seizing the life insurance policies of people in debt.
Taiwan's National Health Insurance (NHI) system in the three decades of its existence has made a positive and profound impact on the healthcare for the Taiwanese population. It was 30-years ago on 1 March 1995 that the NHI system was introduced as a compulsory health insurance programme in Taiwan.
A sharp rise in insurance sales in Taiwan is fuelling concerns over increased capital outflows, which could push the New Taiwan dollar to levels last seen during the global financial crisis, reported the Taipei Times.
Data from the Insurance Bureau has revealed that Taiwan's insurance industry earnings in December increased by 248.1% to NT$341.5b ($10.3b), with life insurers contributing 92.4% of the total.
Statistics released by the Financial Supervisory Commission (FSC) show that around 30 insurance companies engaged in microinsurance business as of the end of 2024.
To better address the needs of the elderly in Taiwan's super-aged era, the Financial Supervisory Commission (FSC) will promote insurance policies that allow the economically disadvantaged and certain identity groups to obtain basic insurance protection at a lower premium. The commission outlined the policies in a press release issued this Thursday morning.
The lack of earthquake insurance coverage for a significant percentage of residential units, is further compounded by the ageing residences in urban areas of Taiwan, which leaves more than 60% of the houses with no covers for any seismic catastrophe that may occur.
Taiwan's labour insurance fund, which is an important source of funding for the country's main basic pension programme, has good short-term prospects due to recent premium and investment gains, however, the future of the programme remains challenging.
Taiwanese health officials are encouraging those aged 30 and over to take advantage of a free health check covered under the country's national health insurance. Till 2024 this facility was only available to those aged 40 and above.