China's national financial regulator has issued the first-of-its-kind insurance guidelines for EVs and plug-in hybrids.
China's auto insurance market has provided remarkable figures in its latest report. The industry has undergone a major transformation since the comprehensive reforms of 2020. With changes in pricing structures, the implementation of unified reporting and execution, industry-wide self-discipline, and stricter regulatory oversight, auto insurance has shifted onto a sustainable growth trajectory.
These are the highlights for all events and updates across the industry this week.
These are the updates on insurance regulation across China this week.
Around 15% of Australians, approximately 2.8 million people nationwide, said car insurance was their most dreaded bill, according to research by Money.com.au.
According to news site Jakarta Globe, the implementation of mandatory third-party liability (TPL) insurance for motor vehicles has been delayed, as the country's regulator, Otoritas Jasa Keuangan (OJK) waits for a government regulation. The programme was to be implemented in January 2025.
All general insurance and takaful companies in Malaysia are closely collaborating with all stakeholders on the crucial issue of total loss vehicles.
Qatar Insurance Company (QIC) has introduced new features on its mobile application (QIC App), offering drivers and car owners extra convenience to fulfil their car-related needs.
Bank Negara Malaysia (BNM) in December 2023 had issued the draft code of conduct for repairers - insurers and takaful operators. The regulator issued the Insurers and Takaful Operators-Repairers Code of Conduct ('the code') on 23 December 2024. The code came into effect on 2 January 2025.
Thawani Pay, one of Oman's biggest platforms for smart payment solutions, has partnered with Takaful Oman Insurance to introduce a motor insurance product through the Thawani App.