Bank Negara Malaysia (BNM) has issued the Policy Document on Claims Settlement Practices (PD CSP) which sets out the minimum standards on the handling and assessment of general insurance and general takaful claims.
Road traffic accidents cost Zimbabwe losses of over $400m each year, the managing director of the Zimbabwe Traffic Safety Council of Zimbabwe (TSCZ), Mr Munesu Munodawafa, has said.
The insurance industry, including takaful, grew by 4% to DZD48.4bn ($359.6m) in 1Q2024 in terms of overall revenue (direct and reinsurance acceptances), according to provisional data from the National Insurance Council (CNA).
Two-thirds of registered motorcycles in Turkiye do not have compulsory motor third-party liability insurance (also known as traffic insurance), according to Mr Bendevi Palandoken, the chairman of the Confederation of Turkish Tradesmen and Craftsmen (TESK).
Vietnam government and state-owned enterprises plan to divest some of their shareholdings in the country's two biggest insurers, namely, Baoviet Holdings (BVH) and PVI Holdings.
The NCBA Group, the fourth-biggest bank by market capitalisation, has acquired fully the insurer AIG Kenya from American International Group following receipt of all regulatory and corporate approvals.
The Insurance Federation of Egypt (IFE) says that for insurance companies to adapt successfully to rapidly changing risks, there is a need to find new ways of working supported by a more flexible workforce with diverse capabilities.
IAG, one of Australia's biggest insurers, has purchased reinsurance protection to mitigate natural perils volatility for the next five years, alongside securing adverse development protection for its A$2.5bn ($1.7bn) long-tail reserves.
While India is home to 62m business owners, a mere 3% have embraced SME insurance, according to Mr Anand Singhi, chief- Retail and Government Business at ICICI Lombard.
The Earthquake Commission (EQC) yesterday became the Natural Hazards Commission (NHC), reflecting its role in supporting New Zealanders to prepare for and recover from a range of natural hazards, not just earthquakes.