As 2025 begins, regulatory announcements continue to highlight the closure of insurance branches, reflecting the ongoing trend of streamlining operations across the industry.
These are the updates on insurance regulation across China this week.
Indonesia will introduce free medical screenings next month as part of the country's effort to detect various diseases early and avoid preventable deaths according to the government.
In a major exercise lasting over seven months, to detect, curb and resolve insurance fraud cases, the Chinese police and regulatory authorities have been able to resolve over 1400 insurance fraud crime cases amounting to more than CNY1.5bn ($205m).
Australian insurers are failing to identify one in six customer complaints, effectively denying those Australians critical protections available through the Internal Dispute Resolution (IDR) regime.
Egypt's Financial Regulatory Authority adopts a package of measures to implement the new Unified Insurance Law with technology and modernisation of the sector being a top priority.
Australia has no plans to allow private health insurance cover of general practitioner (GP) care in the country. Currently, under Australian law, private health insurance cannot offer cover for out-of-hospital medical services, including GP visits, because they can be covered by Medicare.
Tunisia is actively working on a law to introduce a system of insurance against the loss of employment due to economic reasons. A draft of the proposed law was discussed by the country's cabinet in a meeting chaired by Prime Minister Kamel Madouri earlier this month.
The Financial Services Authority (FSA) of Oman has started to link the electronic Dhamani platform online to the sultanate's private health polyclinics and clinics. To begin with the FSA has added around 33 private hospitals in various governorates of Oman to the platform.
The Ministry of Finance is currently studying the new draft law on the financial market, which will replace 1993 stock exchange legislative decree. Among the important reforms is the inclusion of insurance companies as intermediaries in stock exchange operations, Islamic bonds and green financing, which will contribute to strengthening this market and making it more attractive, said the Algerian Union of Insurance and Reinsurance Companies (UAR) general director Abdelhakim Berrah.