Regulatory

India's GST Council rules reinsurance commissions and coinsurance premiums exempt from tax

June 24 2024

Council's ruling also nullifies US$1.4bn in demand notices sent to industry for non-payment of GST.

NFRA chief urges China's insurance industry to innovate and expand

June 19 2024

Speaking at the 15th Lujiazui Forum, Li Yunze emphasised the key role insurance will play in China's modernisation efforts.

ICA advocates for improved hardship and vulnerability provisions in GI code

June 18 2024

Australia's General Insurance Code of Practice is currently undergoing its three-yearly review.

Construction boom and government projects to boost Thailand's property insurance segment

June 17 2024

GlobalData projects 4.5% annual growth for Thailand's GI market between 2024 to 2028.

irdai-mandates-policy-loan-facility-in-life-insurance-savings-products-as-part-of-new-reforms

IRDAI mandates policy loans for life insurance savings products as part of new segment reforms

June 13 2024

New regulations include mandatory policy loans, extended free look period, and partial withdrawals for pension products.

APRA finalises guidance for upcoming op risk standard, CPS 230

June 13 2024

Regulator releases final cross-industry guidance to aid in the implementation of CPS 230, which will take effect from 1 July 2025.

indian-regulator-introduces-new-general-insurance-reforms

Indian regulator introduces general insurance reforms

June 12 2024

Stricter claim rejections, flexible policy durations, and 'pay as you drive' motor options outlined in new master circular from the IRDAI.

Bima Sugam, India's electronic marketplace, set for April 2025 launch - reports

June 8 2024

First phase set to launch April, according to comments from IRDAI Chairman Debasish Panda.

Two Philippine non-life insurers placed under conservatorship - report

June 7 2024

Insurance Commission reportedly take control of Premier Life and Trisco due to legal non-compliance.

China's regulator sets framework for inclusive insurance

June 6 2024

NFRA issued new guidelines to promote the development of inclusive insurance in China, focusing on broad coverage, affordability, fairness, and sustainability.

australian-government-provides-details-on-new-insurance-affordability-and-natural-hazards-taskforce

Australian Government outlines details of new insurance affordability and natural hazards taskforce

June 4 2024

Announced as part of the 2024-25 budget, the new taskforce will adopt a cross-government approach to reducing impacts of nat cats on the community.

new-ica-figures-underline-importance-of-emergency-services-levy-reform

New ICA data underlines importance of Emergency Services Levy reform for NSW insureds

June 3 2024

ICA data shows ESL adds between AU$305 and AU$1,200 annually for property policies, reinforcing importance of Government's ongoing reform efforts.

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