The Financial Services Authority (OJK) is currently preparing for the implementation of compulsory motor third-party liability (TPL) insurance.
As many as one in five Australian drivers have no problem using their mobile device while behind the wheel, despite the risks, a survey conducted by online insurer, Budget Direct Car Insurance.
The Emirates Insurance Federation, referring to hikes in motor insurance premiums, has said that it is natural for insurance companies to raise their premium rates to compensate for losses and to re-adjust their operations.
Al Salam Bank, in collaboration with Solidarity Bahrain, has announced the launch of the first multi-year takaful insurance for cars in Bahrain.
Insurance companies in the UAE have raised the prices of comprehensive motor insurance policies during the first half of the year by a percentage ranging between 20% and 25% compared to the corresponding period in 2023, according to Mr Saeed Abdullah Al Muhairi, CEO of United Gulf Insurance Brokers.
The IRDAI has repealed its guideline capping the commission for long-term motor insurance policies, aligning these policies with the standard one-year motor insurance policies.
Nine insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) to set up Pakistan's first centralised auto insurance repository, under the guidance of the Securities and Exchange Commission of Pakistan (SECP).
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.