Australian Securities & Investments Commission (ASIC) is urging financial services and credit licensees, including insurance companies, to ensure their governance practices keep pace with their accelerating adoption of artificial intelligence (AI).
The Insurance and Social Welfare Supervisory Authority (ACAPS) is studying the introduction of compulsory multi-risk home insurance in the country.
The board of the IRDAI has approved a timetable to hire 120 management officials at the assistant manager (AM) level in the next three years to cope with the growing workload at the regulator.
The Australian Prudential Regulation Authority (APRA) has growing concerns about superannuation trustees' spending behaviour after observing deficient practices and questionable expenditure in some areas, according to APRA deputy chair Margaret Cole.
The government is conducting feasibility studies focused on legal procedures, operations and the cost of establishing a national agriculture insurance scheme.
Regulatory push, the advent of rural and social-focused insurance players, digital adoption and innovation are expected to drive the insurance industry, said a report released by the Confederation of Indian Industry (CII) and professional services firm KPMG in India.
AIA Group has announced that AIA China has received approval from the provincial bureaux of Anhui Province and Shandong Province to begin preparations to establish a new branch in each of the two provinces.
Ghana's National Insurance Commission (NIC) has granted its approval to the first cohort of five InsurTechs to enter the regulatory sandbox to test innovative insurance solutions in a controlled environment.
Jordan French Insurance Company (JOFICO) is expected to meet higher regulatory requirements that are set to be introduced in 2025, whereby the minimum amount of paid-up capital for composite insurers will rise to JOD16m ($23m) from JOD8m, says Fitch Ratings.
The IRDAI has drafted guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and mitigate fraud risks effectively across the insurance industry.