News

indias-gst-council-postpones-gst-removal-decision-for-life-and-health-insurance-premiums

India's GST Council postpones decision for removal of GST for life and health premiums

September 10 2024

Council creates new Group of Ministers to review medical and health insurance matters, with final decision on 18% GST removal set for November.

income-insurance-extends-hourly-travel-insurance-product-to-19-destinations

Income Insurance enhances hourly travel product with post-departure feature and more destinations

September 10 2024

In addition to the expansion of destinations, FlexiTravel Plus provides a "market-first" post-departure feature.

An Australian Flood Pool can’t “mask the price of the risk permanently”: ICA CEO Andrew Hall

September 10 2024

Using the U.S. flood program as a cautionary tale, Hall says any potential pool needs to work in tandem with flood mitigation.

insurers-have-settled-96-of-auckland-anniversary-and-cyclone-gabrielle-claims-icnz

ICNZ calls for clear adaptation framework to manage climate risks in New Zealand

September 10 2024

Insurance Council backs Climate Change Commission's first monitoring report which says pace of current efforts are insufficent.

steadfast-group-suspends-trading-amid-strata-allegations

Steadfast Group suspends ASX trading amid strata allegations

September 9 2024

Australia's largest general insurance broker network has halted trading following allegations it mislead clients.

Hong Kong IA to review RBC, refine group-wide supervision framework to support market growth

September 9 2024

Chairman Stephen Yiu says IA is committed to enhancing prudential frameworks, focusing on RBC and group-wide supervision to attract more business and investment to Hong Kong.

two-years-on-points-of-contention-remain-for-australian-cyclone-reinsurance-pool-finity

Cyclone pool coverage extension may raise premiums, but could benefit high-risk areas

September 9 2024

Extending flood coverage to 168 hours is estimated to raise premiums by 5%, but new modelling could see high-risk properties better subsidised.

australasias-design-amp-construction-pi-market-seeing-shift-to-more-pronounced-softening-wtw

Australasia's design & construction PI market seeing shift to 'more pronounced softening': WTW

September 9 2024

High-quality new capacity is set to continue to enter Australasia's construction insurance market in the latter half of 2024 and the early months of 2025.

australias-gi-code-review-panel-calls-for-mandatory-nat-cat-plans-amid-claims-shortcomings

Australia's GI code review calls for mandatory nat cat plans to improve claims handling

September 9 2024

Independent review provides 104 recommendations around financial hardship, customer vulnerability, claims handling, enforceability, and governance.

proposed-currency-rules-may-cut-hedging-costs-but-increase-fx-risks-for-taiwan-life-insurers

Taiwan's proposed currency rules may cut hedging costs but increase FX risks for life insurers

September 6 2024

Moody's says FSC proposal could cut hedging costs, but may lead to asset-liability currency headaches.

serenity-health-partners-launches-in-singapore-with-msig-as-a-majority-shareholder

Serenity Health Partners launches in Singapore with MSIG as a major shareholder

September 6 2024

Health insurance solutions provider will officially launch in Singapore on Oct 1 with plans for expansion into Indonesia and Vietnam in 2025.

Moody's adds casualty and liability modelling through Praedicat acquisition

September 6 2024

Praedicat’s models and predictive analytics help (re)insurers manage risks linked to catastrophic events, such as product and environmental liabilities, including in the Asia Pacific region.

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