Recently, 65 insurers had disclosed their average premium per vehicle. The data shows that per-vehicle premiums ranged from a high of CNY5,600 ($784) (Hyundai Insurance) to a low of CNY608.17 (Xin'an Auto Insurance). Among them, 42 insurers - more than 60% - reported average premiums below CNY2,000($280). Nearly 60% of companies saw year-on-year increases.
These are the updates on insurance regulation across China this week.
Nearly one in five (17%) of Australians have remained loyal to the same car insurance provider for more than 10 years,according to the results of a recent survey conducted by Compare the Market, a price comparison company.
Fire incidents involving lithium-ion batteries have surged in New Zealand by 17% in the last one year according to data published by AMI Insurance.
These are the highlights for all events and updates across the industry this week.
The Financial Services Authority (FSA) has issued a circular to the CEOs and general managers of insurance and takaful companies pressing home the message that they cannot refuse to insure electric vehicles (EVs) or renew the motor policy as long as the vehicle satisfies the stipulations stated in the Traffic Law.
China has banned the use of the terms 'smart driving' and 'autonomous driving' in advertisements by carmakers. Also, software updates related to driving functions in intelligent and connected vehicles can now be updated remotely only with prior regulatory approvals. The new directives were issued by the Chinese ministry of industry and Information Technology earlier this month.
Australian drivers may be spending more on motor insurance than they necessarily need to, due to what has been called a 'convenience catch', according to new research by the personal finance comparison platform, Compare the Market.
The Tunisian Federation of Insurance Companies (FTUSA) has called on the General Arab Insurance Federation (GAIF) to study a proposal to extend the Orange Card's insurance coverage to include individuals, vehicles and road assistance services -- not just third-party liability coverage.
The Malaysian general insurance industry's gross written premium (GWP) grew 6.9% y-o-y to MYR23.1bn ($5.3bn) in 2024.