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.
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).
Cheche Group, China's leading auto insurance technology platform, has entered into a partnership with NIO Insurance Broker Co, a subsidiary of EV manufacturer NIO, as Cheche continues to deepen its collaboration with new energy vehicle (NEV) manufacturers.
Owners of Japanese, Korean and Chinese car models in the UAE are facing the highest increases in motor insurance premiums on renewals as the full impact of April's rains is felt by vehicle owners and insurers alike.
The Kenyan government has withdrawn the proposed 2.5% levy on motor vehicles in the Finance Bill 2024 in the face of the tax's likely unfavourable impact on the insurance industry.
The Indonesian General Insurance Association (AAUI) has announced that general insurance premium income in the first quarter of this year reached IDR32.7tn ($2bn), increasing by 26.1% compared to the corresponding quarter in 2023.
The Philippines' general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.5% from PHP145.4bn ($2.6bn) in 2024 to PHP209.0bn ($3.8bn) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company.
The Financial Services Authority (OJK) is working with relevant ministries and institutions to issue regulations covering Mandatory Third Party Liability (TPL) Insurance.
The Insurance Association of China (IAC) and the China Automobile Maintenance & Repairs Trade Association (CAMRA) have issued jointly a standard covering the repairs and replacement of common spare parts for vehicles involved in accidents.
Premiums issued by insurance and reinsurance companies in Morocco reached MAD17.24bn ($1.73bn) in the first quarter of 2024, an increase of 1.8% compared to the corresponding quarter of the previous financial year, according to the Insurance and Social Security Supervisory Authority (ACAPS).