...regulations and the insurance law.
The ultimate goal is to deal professionally and transparently with policyholders and claimants and restore confidence to stakeholders in the insurance sec...
Source : MiddleEast | 06 Feb 2023...regulations at the end of 2021 to curb excesses in this branch of business. Malpractices included bundled sales and abnormally high handling fees.
The new regulations curbed bundled sales o...
Source : eCin | 03 Feb 2023...The Australian Prudential Regulation Authority (APRA) yesterday released its policy and supervision priorities for the next 12-18 months to ensure the financial system is "protected today and prepared for tomorrow"....
Source : eDaily | 03 Feb 2023...The Securities and Exchange Commission of Pakistan (SECP) has formed a working group to explore the feasibility and the mechanism for the effective implementation of "Motor Third Party Liability (MTPL) Insurance" in the country....
Source : eDaily | 03 Feb 2023...regulations with regard to the minimum capital specified by the law and the adequacy of risk capital. ...
Source : MiddleEast | 02 Feb 2023...The Federal Government has commissioned an independent review into Australia's disaster funding arrangements, to ensure government investment in disaster funding is fit-for-purpose and effective in the face of increasingly frequent and more severe natural disasters....
Source : eDaily | 02 Feb 2023...regulations and guidelines (on a voluntary basis)” to support climate finance. It adds that the kingdom has “an interesting volume of climate finance activity” involving...
Source : MiddleEast | 01 Feb 2023...regulations stipulate that the mandatory health insurance scheme, including basic and additional cover, can only be provided by insurance entities (...
Source : MiddleEast | 31 Jan 2023...The Ministry of Finance is drafting amendments to regulations relating to compulsory motorcycle third-party liability insurance, such as reducing tariffs, narrowing the exclusion of insurance liability and increasing the insurance compensation rate....
Source : eDaily | 31 Jan 2023...The Office of Insurance Commission (OIC) is seeking to establish a certification system for medical centres so as to drive the insurance market by raising the standards and quality of services of medical facilities....
Source : eDaily | 30 Jan 2023...The Reserve Bank of New Zealand (RBNZ) yesterday published its Enforcement Guidelines and Investigation Guidelines, completing its enhanced Enforcement Framework....
Source : eDaily | 27 Jan 2023...The CEOs of local insurance companies are urged to pay extra attention to risk management and market stability while refraining from over-expansion....
Source : eDaily | 27 Jan 2023...In India, like large corporations and cooperatives, the government too can benefit from the use of insurance captives for public programmes like the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Pradhan Mantri Jan Arogya Yojana (PMJAY), says Mr Ankur Nijhawan, CEO of AXA France Vie India Reinsurance Branch....
Source : eDaily | 27 Jan 2023...regulations and rules are a means to an end, rather than an end in themselves. The real end is fair outcomes.” ...
Source : eDaily | 26 Jan 2023...The Vietnamese government has formulated the Strategy for the Development of Vietnam's Insurance Market to 2030, with the goal of developing insurance entities with strong financial capacity, management capacity approaching international standards, efficient operations and the ability to compete actively in domestic and regional markets....
Source : eDaily | 26 Jan 2023...regulations – more efforts on a global scale are necessary to improve implementation. Moreover, the regulations themselves cannot stop these species from being killed as ‘bycatch’....
Source : ARM | 25 Jan 2023...regulations. ...
Source : eDaily | 25 Jan 2023...Comparing insurers' IFRS 17 results will be difficult initially due to differences between companies' approaches under the accounting standard, Fitch Ratings says in a new report....
Source : eDaily | 25 Jan 2023...The insurance regulator will continue to implement solutions to support the development of the insurance market in 2023 and beyond, according to Mr Ngo Viet Trung, director of the Insurance Management and Supervision Department of the Ministry of Finance....
Source : eDaily | 23 Jan 2023...regulations such as zero illustration in May 2022 to display possible investment fluctuations in unit link products and product insurance costs of basic and additional insurance products in a transpa...
Source : Agent | 22 Jan 2023...regulations and enforcements are likely to remain.
One probable consequence of the measures, however, is that they will dampen innovation and will therefore have a negative impact on produc...
Source : eCin | 20 Jan 2023...Wang Bin, former Communist Party chief and chairman of China Life Insurance (Group) Company, has been indicted by a Chinese procuratorate for suspected crimes of taking bribes and concealing overseas savings, the Supreme People's Procuratorate (SPP) said in a statement yesterday....
Source : eDaily | 20 Jan 2023...regulations are benchmarked to international best practices. He said GIFT-IFSC provides reinsurance support to the following categories of entities:
IFSC Insurance Offices (II...
Source : eDaily | 20 Jan 2023...regulations stipulate that the ceiling on the stake of a single shareholder in an insurance company is 33.33%, except in cases involving foreign capital and risk disposal. Given E An’s financia...
Source : eDaily | 19 Jan 2023...regulations.
We will also continue to be involved in insurance education activities for a wide range of generations to help raise the financial literacy of the population and to promote pub...
Source : AIRPlus | 18 Jan 2023...Regulations, 2015 has to achieve stipulated annual targets of business from rural and social sectors.
According to the latest annual report of IRDAI for the financial year 2021-22, all insu...
Source : AIRPlus | 18 Jan 2023...The Financial Services Authority (OJK) is planning to set a minimum limit for credit insurance premiums, in the wake of a price war in this branch of business....
Source : eDaily | 18 Jan 2023...regulations, insurers have to place at least 70% of their capital as deposits with banks or buy government bonds.
As the rising interest rate trend is forecast to remain in 2023, the f...
Source : eDaily | 17 Jan 2023...The IRDAI has said that insurers shall classify their sovereign green bond purchases as infrastructure investments and the bonds shall be classified as "Central Government Securities"....
Source : eDaily | 17 Jan 2023...Regulations and the Catalyst Role of Compliance", reported Insurance Gazette.
TSB’s proposals include:
Removal of l...
Source : MiddleEast | 16 Jan 2023...regulations came into force in October 2021 and the granting of licences by ACAPS to four takaful companies and a retakaful window. The Authority also approved the establishment of seven participatin...
Source : MiddleEast | 16 Jan 2023...Regulations regarding digital insurance broking services
2. Obligations of insurance companies to ensure that professionals carry out their duties and responsibilities;
3. Coopera...
Source : eDaily | 16 Jan 2023...regulations are to ensure that the elderly community business is carried out stably by insurance companies with a stronger comprehensive strength. One major reason is that insurance products linked t...
Source : eCin | 13 Jan 2023...regulations stipulate that insurers wishing to undertake retirement community business have to meet requirements concerning matters such as net assets, solvency, comprehensive risk rating, corporate...
Source : eCin | 13 Jan 2023...The IRDAI has spelt out requirements regarding actuaries to be hired by insurance companies....
Source : eDaily | 13 Jan 2023...2023 will be a critical year for the global Insurance Capital Standard (ICS), including a public consultation on the ICS as a prescribed capital requirement (PCR) and an ICS economic impact assessment, says the International Association of Insurance Supervisors (IAIS) as it releases its 2023-2024 Roadmap....
Source : eDaily | 12 Jan 2023...The contributions of insurance agencies to the private pension system (PPS) should be increased, with significant incentives and regulations provided to help agencies be more competent in the pension branch, says Mr Ozgur Yilmaz, a member of the board of directors of the Union of Chambers and Commodity Exchanges of Turkiye (TOBB)....
Source : MiddleEast | 11 Jan 2023...Listing on the stock exchange is one of the solutions to improving the financial and governance capacity of insurance enterprises in the future, according to a proposal of the Ministry of Finance (MoF)....
Source : eDaily | 10 Jan 2023...The chairman of the Securities and Exchange Commission of Pakistan (SECP) Mr Akif Saeed has emphasised improving the corporate image of the insurance industry by introducing new products with greater value to policyholders, upgrading service standards and ensuring timely disclosure of customer and claims data....
Source : eDaily | 10 Jan 2023...regulations of the DFSA.
...
Source : MiddleEast | 09 Jan 2023...regulations are being introduced to improve insurance penetration, increase capital inflow, improve valuation, and facilitate the entry of small, specialised and niche players.
The regulato...
Source : eDaily | 09 Jan 2023...Regulations
Meanwhile, the IRDAI has been introducing several new regulatory measures that have the potential to quicken business growth for insurers and to deepen the insurance pe...
Source : eDaily | 06 Jan 2023...regulations and approach of the authorities with regard to regulated businesses such as insurance companies and insurance brokers. As a first step, the CBUAE has issued in the past weeks a new set of...
Source : MiddleEast | 05 Jan 2023...regulations, will qualify as ‘Eligible CBRs’. The CBRs, which do not meet the eligibility criteria, are regarded as ‘Non-Eligible CBR’.
Insurers, which wish to place...
Source : eDaily | 05 Jan 2023...The Ministry of Finance (MoF) aims to implement many solutions to achieve the goal of developing a safe and sustainable insurance market, meeting diverse insurance needs and ensuring social security this year....
Source : eDaily | 05 Jan 2023...regulations, we can be more innovative and efficient while simultaneously strengthening our controls. The sophisticated regulatory framework will enable us to become more agile and provide specialize...
Source : AIRPlus | 04 Jan 2023...The IRDAI has written to property insurers and reinsurers asking them to stop including the burning costs rate published by the Insurance Information Bureau (IIB) for fire and engineering risks in their reinsurance treaties....
Source : eDaily | 04 Jan 2023...Intermediaries were generally in compliance with the relevant regulatory requirements when they sold two tax-deductible products, namely Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund Tax-Deductible Voluntary Contributions (TVC), according to the findings of a mystery shopping programme (MSP)....
Source : eDaily | 04 Jan 2023...The Indonesian Parliament's approval of Indonesia Insurance Deposit Corporation's (LPS) new mandate to guarantee insurance policies will help to restore consumer trust in the industry after recent defaults, says Fitch Ratings....
Source : eDaily | 04 Jan 2023...Bank Negara Malaysia (BNM) has released an exposure draft setting out the Bank's proposed requirements and guidance in carrying on the medical and health insurance/takaful (MHIT) business....
Source : eDaily | 04 Jan 2023