Motor

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.

A flooded street with cars and buildings in the background.

HKFI: Statistics prove taxi insurance valid during extreme weather

December 4 2023

HKFI said IA's release of motor claim data proves speculation that motor insurance is invalid during extreme rainstorms 'hold no basis.'

hkia-announces-hk1-9bn-in-claims-following-septembers-super-typhoon-saola-and-record-downpour

HKIA announces HK$1.9bn in claims from Super Typhoon Saola and record downpour

December 4 2023

Data from Insurance Authority, sourced from 104 general insurers, shows US$243m in claims, dominated by property (86%) and motor damages (9%).

australian-federal-court-rules-racq-to-pay-au10m-penalty-for-discount-misrepresentation

Australian Federal Court fines RACQ AU$10m over discount misrepresentations

November 30 2023

RACQ fined AU$10m (US$6.64m) after court found it had mislead 458,000 policyholders on discount entitlements, withholding approximately AU$86.5m.

chinas-non-life-market-sees-premium-growth-offset-by-net-profit-decline

China's non-life market seeing premium growth, offset by net profit decline

November 29 2023

Growth in health, agriculture, and resurgence in motor underpin AM Best's 'stable' outlook for China's non-life sector, but market faces drop in underwriting profit and slowing economy.

South Korean motor insurers asked to cut premiums as part of broader economic initiative: Report

November 29 2023

South Korean car insurance premiums are set to decrease by 3% as part of President Yoon Suk Yeol's economic initiative to support SMEs and low-income individuals.