The National Insurance Commission (NIC) plans to implement a risk-based capital framework for life insurance companies, according to Mr Kofi Andoh, acting commissioner at the NIC.
The mandatory divorce policy set out in the recently-enacted Unified Insurance Law will apply to those about to get married, according to lawmaker Ihab Ramzy, a member of the Legislative Committee of the House of Representatives.
A Cabinet session, headed by Prime Minister Bisher Khasawneh, approved the 2024 Mandatory Vehicle Insurance Bylaw on 21 July 2024.
The Financial Regulatory Authority (FRA) has decided to continue to work with existing regulations until the issuance of implementing rules and decisions backing the new Unified Insurance Law that was enacted earlier this month.
The Thai government has launched an initiative to develop Thailand into a global financial hub, with Prime Minister Srettha Thavisin officiating at the launch ceremony on 19 July 2024.
The Insurance Authority (IA) says that it and the country's insurance sector was unaffected by the 19 July massive global tech outage.
The IRDAI has repealed its guideline capping the commission for long-term motor insurance policies, aligning these policies with the standard one-year motor insurance policies.
The Senate has passed the Nigeria Insurance Industry Reform Bill 2024 after a second reading, to modernise and boost the insurance sector.
Giza-based health maintenance organisation (HMO), Unicare, intends to transform itself into a specialised medical insurance company.
The average commission level of the bancassurance channel in China has fallen by 30% since August 2023 when the National Financial Regulatory Administration (NFRA) ordered that commission fees paid to banks must be consistent with the rates reported to the regulator.