Treasury Cabinet Secretary John Mbadi has announced that the Government has initiated amendments to the Insurance Act to establish agricultural insurance as a standalone class of insurance business.
The Abu Dhabi Civil Defence Authority (ADCDA) has warned that modern furniture pieces, such as sofas and smart tables equipped with electrical charging units, are becoming major causes of house fires due to manufacturing defects and misuse.
The Senate's Commission for Research, Science, Technology and the Environment (CRSTE) has approved a draft Bill to amend the Construction and Building Code. The draft was presented by the Minister of Urban Planning, Housing and Living Environment, Mr Moussa Sanogo.
The Fidelis Partnership (TFP) has appointed Mr Alex Rossiter and Mr Greg Bowman to senior roles.
Shareholders of non-life insurer Assurances Maghrebia have given the green light to raising the company's capital by TND10m ($3.4m).
The Saudi Capital Market Authority has approved an application from The Company for Cooperative Insurance (Tawuniya) to increase its capital to SAR2.25bn ($599m) from SAR1.5bn, a 50% rise.
Investments by Chinese companies in large-scale overseas infrastructure, particularly in ports, power grids and cross-border logistics, are increasingly exposed to national security scrutiny, says Moody's Ratings.
A risk-based insurance grading system for new energy vehicles (NEVs) is being established in China. This system will classify NEVs based on indicators such as safety, repair economy, and parts-to-vehicle ratio, with different base premiums applicable to different vehicle grades.
1,300 participants from 175 companies across 27 countries gathered at the Grand InterContinental Seoul Parnas in Gangnam, Seoul from June 10 to 11 to discuss how artificial intelligence, cyber risk, and mobility innovation are reshaping the future of insurance. Participants assessed how the insurance sector must adapt to rapidly evolving technologies and interconnected risks that are redefining traditional underwriting and claims approaches.
Many insurers in the Asia-Pacific region now favour capital-light product strategies and are shifting to products that are less sensitive to interest rates, particularly protection products linked to mortality and morbidity risk, says Fitch Ratings.