Gloria Methri is a Regional Correspondent at (Re)in Asia, tracking the regulation and risk stories moving Asia Pacific insurance. Areas of specialty include Indian insurance regulation, natural catastrophe losses across China and Australia, and marine and war risk markets.
Under the proposed rules, insurers and takaful operators would have to check customer understanding before underwriting and stop sales that cannot meet a customer's needs.
Domestic systemically important insurers would need larger boards, while insurers with less retail reach or lower systemic importance would face fewer approvals.
The proposed commission caps have pushed PB Fintech to weigh a move into insurance manufacturing, while some insurers need little or no cost cutting to meet the proposed EoM limits.
