The Taipei city government has moved to accommodate the metropolis’ rapidly growing number of cyclists, announcing moves toward providing accident insurance to YouBike users and new bike racks around Mass Rapid Transit (MRT) stations, according to a report in the Taipei Times. Ministry of Transportation and Communications statistics show that...
The Northern Territory has announced plans to sell Australia’s last government-owned insurer Territory Insurance Office to Allianz and People’s Choice Credit Union, in a transaction worth USD424 million. Global insurance giant Allianz is expected to pay USD236 million for the insurance arm of TIO’s business, while People’s Choice Credit Union...
A new law that will transform Indonesia’s takaful market over the next decade has come into force. The traditional practice in Indonesia that allows firms to offer Shari’ah-compliant and conventional insurance products side by side, will slowly be phased out in an attempt to encourage more foreign players into the...
In a major health sector reform called the National Health Assurance Mission, the Indian government will ensure that every resident in India has access to affordable healthcare with provisions of free essential medicines while bringing over a dozen diseases including cancer and heart ailments. The reform to be packed under...
Companies such as Google and Amazon may pose some of the biggest threats to Australian insurers, as consumers increasingly trust technology behemoths to provide services such as insurance and finance. Overseas reports have singled out companies such as search giant Google and e-commerce group Amazon as players mulling entering the...
Companies such as Google and Amazon may pose some of the biggest threats to Australian insurers, as consumers increasingly trust technology behemoths to provide services such as insurance and finance. Overseas reports have singled out companies such as search giant Google and e-commerce group Amazon as players mulling entering the...
Japanese insurance giant Nissay (Nippon Life Insurance Company) has bought a 20 percent stake in Indonesia’s mid-sized life insurance company, Sequis Life Indonesia, with a USD402.3 million investment. “We want to grow between 18 to 20 percent per year in terms of income from premiums,” Tatang Widjaja, CEO of Sequis...
International ratings agency A.M. Best subsidiary, A.M. Best Asia-Pacific (Singapore) Pte Ltd, has received a Capital Markets Services license from the Monetary Authority of Singapore to be a registered credit rating agency in Singapore. “It is essential for A.M. Best, as the only international credit rating agency focused exclusively on...
Insurers are seeing more value of providing coverage for second opinion service as part of their health insurance offering, according to a Times of India report. United India Insurance has revised its family floater offering to include insurance coverage for second opinion. "Today, there are many specialists available worldwide and...
Approximately six million senior citizens will be enjoying lifetime health insurance under a Philippine Health Insurance Corp. (PhilHealth) programme for elderly citizens. In the PhilHealth’s Lifetime Member Program (LPM), the elderly who have paid a certain number of monthly contributions will be given lifetime coverage without having to pay premiums,...
