Motor

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.

malaysias-gi-premiums-up-7-3-but-profits-slide-for-h1-2023

Malaysia's GI premiums up 7.3% in H1 2023, but profits slide

November 28 2023

Underwriting profits fall 37.8%, predominantly due to increased motor and property insurance claims.

vietnams-insurance-business-law-spurs-enhanced-risk-management-and-foreign-investment

Vietnam's new insurance law spurs enhanced risk management and foreign investment

November 28 2023

AM Best maintains stable outlook for Vietnam's non-life market, anticipating long-term benefits from regulatory changes made in early 2023.

evs-regulation-to-fuel-chinas-motor-growth

EVs, regulation to fuel China motor insurance growth

November 27 2023

China's motor insurance market is projected to reach CNY1.1 trillion (US$171.9bn) by 2028, driven by EV demand and regulatory changes.

Japan's Bigmotor stripped of insurance agency licence over insurance fraud

November 24 2023

Bigmotor loses licence after investigations by Japan's Financial Services Agency on the company for a wide-reaching insurance fraud scandal.

Australian Securities and Investments Commission issues lifetime ban on former insurance broker

November 24 2023

Renato De Maria, former insurance broker and director of AIBS, receives permanent ban from the financial services industry following allegations of misappropriating AU$35m (US$29.97m) of client funds.

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