Regulatory

Regulators outline preparatory steps for Australian insurers ahead of 2025 FAR implementation

March 14 2024

APRA and ASIC urge insurers to prepare for the upcoming Financial Accountability Regime.

NFRA looking to 'optimise' EV insurance pricing

March 12 2024

Li Yunze, Head of the NFRA, says regulator is to refine insurance pricing and reduce down payments on loans.

Insurance Authority suspends agent for seven months over unauthorised policy sign-up

March 12 2024

Insurance agent banned for seven months after taking out and paying for policy without client's approval, in a bid to climb sales rankings.

Australian Government to introduce financial sector regulatory initiatives grid

March 11 2024

New regulatory initiative aims to streamline financial sector, including insurance, enhance business operations and reduce compliance costs.

ICAC charges ex-Insurance Authority director over coercive hiring allegations

March 8 2024

Hong Kong's corruption watchdog charges Hui Mei-ying and daughter-in-law with misconduct in Prudential hiring case, with both granted bail.

New FSC rule eases overseas capital raising for Taiwanese insurers

March 8 2024

Insurers will be able to tap into global bond markets through SPVs, diversifying funding sources with TW-ICS implementation looming.

India's Ministry of Ports, Shipping and Waterways advancing plans for domestic P&I club - report

March 8 2024

Initial focus on coastal and riverine vessels, but regulatory issues remain.

Australian Treasury looks to standardise natural hazard insurance definitions

March 7 2024

New consultation aims to standardise natural hazards to enhance transparency and consumer understanding.

IRDAI bans international broker Confiance for two years

March 6 2024

Regulator bans foreign reinsurance broker for 'serious and grave' violations, including failure to secure reinsurance and involvement in forged reinsurance slips.

ASIC warns General Insurers to continue claims handling improvement

March 6 2024

Aussie regulator acknowledges steps taken by the industry, but notes that complaints are still increasing.

hong-kong-insurance-authority-enforces-prohibition-orders-on-three-agents-for-unfit-conduct

Hong Kong Insurance Authority enforces prohibition orders on three agents for misconduct

March 4 2024

IA imposes bans due to submission of false academic certificates and impersonation to access account information.

IRDAI maintains obligatory cession rate at 4% for 2024-25

February 25 2024

Insurers to continue ceding 4% of GI business to GIC Re, excluding terrorism and nuclear pool premiums.

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