Deal, first announced in June, includes cover for Product & Public Liability, Compulsory Third-Party Motor, Professional Risks, and Workers’ Compensation portfolio.
The Insurance Commission’s new guidelines require insurers to undergo regular risk assessments at least every two years, to strengthen anti-money laundering and counter-terrorism efforts.
Australia’s prudential supervisor is set to reduce its frontline divisions from three to two, aiming to streamline the monitoring in the insurance sector.
Insurer and digital bank strengthen bancassurance partnership, providing GXBank's customers with up to MYR20k (US$4.6k) coverage for unauthorised electronic transactions.
In its 2024-2025 corporate plan, the regulator emphasises the need for collaboration to improve affordability and strengthen the insurance industry’s resilience.
