Kenya's Court of Appeal last week upheld the High Court's decision to quash the Motor Insurance Underwriting Guidelines issued by the Insurance Regulatory Authority (IRA) in 2009.
Amid the growth in demand for reinsurance, driven by four major transitions -- climate, energy, digital, and demographic -- Singapore will reinforce its status as Asia's leading reinsurance hub through several approaches, according to Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and chairman of the Monetary Authority of Singapore (MAS).
The Securities and Exchange Commission of Pakistan (SECP) has broadened the eligibility criteria for the position of chief financial officer of an insurance company.
The Insurance Authority (IA) is enhancing its Guideline on Cyber Security by developing a Cyber Resilience Assessment Framework specifically for the insurance sector.
The Financial Regulatory Authority (FRA) has issued a directive requiring insurance companies to align their corporate documentation and operations in line with the recently enacted Unified Insurance Law.
Australian Securities & Investments Commission (ASIC) is urging financial services and credit licensees, including insurance companies, to ensure their governance practices keep pace with their accelerating adoption of artificial intelligence (AI).
The Insurance and Social Welfare Supervisory Authority (ACAPS) is studying the introduction of compulsory multi-risk home insurance in the country.
The board of the IRDAI has approved a timetable to hire 120 management officials at the assistant manager (AM) level in the next three years to cope with the growing workload at the regulator.
The Australian Prudential Regulation Authority (APRA) has growing concerns about superannuation trustees' spending behaviour after observing deficient practices and questionable expenditure in some areas, according to APRA deputy chair Margaret Cole.
The government is conducting feasibility studies focused on legal procedures, operations and the cost of establishing a national agriculture insurance scheme.