Regulatory seeking feedback on 'valuation and capital' and 'Submission of statements, Reports and Information' rules.
RACQ fined AU$10m (US$6.64m) after court found it had mislead 458,000 policyholders on discount entitlements, withholding approximately AU$86.5m.
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.
Addressing global insurance leaders at the Geneva Association Summit 50, Antonio Huertas stressed the importance of embracing AI responsibly, improving cyber resilience, and an insurance-led approach to facing climate challenges.
Insurance Council of Australia survey reveals 85% of industry members are aiming for net zero by 2050, but are confronted with diverse challenges.
AM Best maintains stable outlook for Vietnam's non-life market, anticipating long-term benefits from regulatory changes made in early 2023.
Two former insurance agents been banned by the Insurance Authority for three years after being found to have submitted false academic certificates to meet qualification requirements.