Motor

FSA to issue business improvement order to Sompo Japan - reports

January 16 2024

Watchdog to mandate Sompo improve operations after probe reveals internal process failures related to dealings with used car dealer Bigmotor Co.

Aussie Christmas storm claims surge to nearly 38k as ICA extends cat declaration

Aussie Christmas storm claims surge to 38k as ICA extends cat declaration

January 3 2024

Council extends insurance catastrophe declaration to cover East Coast storms, rain, and flooding in the New Year.

Gold Coast bears brunt as ICA declares 'Insurance Catastrophe' for Christmas storms

December 29 2023

QLD, NSW, and VIC claims surge past 18,000 with Gold Coast accounting for over 10,000.

Australia battered by severe Christmas Storms

December 27 2023

QLD, NSW and VIC hit by flash floods, hailstorms, and strong winds as ICA declares 'Significant Event'.

South Korean motor insurance market anticipated to exceed US$19bn by 2028

December 22 2023

GlobalData says rising quantity and value of vehicle sales will outperform shift to digital and more competitive pricing environment.

globaldata-chinas-gi-industry-on-track-for-us361bn-of-gwp-by-2028

Motor will continue to drive China's GI industry to US$361bn GWP in 2028

December 21 2023

GlobalData predicts 7.4% CAGR over five years for China's general insurance market, driven by economic recovery and regulatory reforms.

am-best-maintains-stable-outlook-for-malaysias-non-life-market-amid-ongoing-economic-recovery

Stable outlook for Malaysia’s non-life market amid increased motor and property competition

December 19 2023

AM Best maintains stable outlook with improving economic conditions and low insurance penetration balancing nat cat and hard market conditions.

Hong Kong: Swiss Re set to acquire EC policies from liquidated Target Insurance

December 15 2023

Insurance Authority announces transfer of 27 employees' compensation and four contract-all-risk policies, pending final approval.

am-best-confirms-provident-insurance-corporation-limited-ratings-outlook-positive

Positive outlook for NZ's Provident Insurance following technology investment

December 14 2023

AM Best affirms credit ratings for the motor insurer and maintains its positive outlook.

ICNZ: 87% of Cyclone Gabrielle and Auckland Anniversary flood claims settled

December 12 2023

To date 99,798 of 115,353 and NZ$2.7bn (US$1.65bn) of NZ$3.6bn have been settled.

PIAM backs government initiative poised to curb surge in motor claims costs

December 7 2023

Malaysian insurance trade body endorses development of 'JSM MS', which could ease pressure of high inflation and soaring motor parts costs for insurers.

Inflation hits Asean insurers’ personal lines business

December 6 2023

Asean Pulse Report shows soaring inflation and parts costs are leading insurers to tighten terms and raise premiums.

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