Al Salam Bank, in collaboration with Solidarity Bahrain, has announced the launch of the first multi-year takaful insurance for cars in Bahrain.
Insurance companies in the UAE have raised the prices of comprehensive motor insurance policies during the first half of the year by a percentage ranging between 20% and 25% compared to the corresponding period in 202, according to Mr Saeed Abdullah Al Muhairi, CEO of United Gulf Insurance Brokers.
The IRDAI has repealed its guideline capping the commission for long-term motor insurance policies, aligning these policies with the standard one-year motor insurance policies.
Nine insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) to set up Pakistan's first centralised auto insurance repository, under the guidance of the Securities and Exchange Commission of Pakistan (SECP).
The Compulsory Insurance Programme, including vehicle insurance, is still awaiting the issuance of rules as the regulatory framework for its implementation, according to Mr Ogi Prastomiyono, chief executive of the Financial Services Authority's (OJK) Insurance, Guarantee, and Pension Fund Supervision.
The rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The traditional motor insurance brokerage model, which relies solely on providing basic intermediary services, has become insufficient to meet market demands. Facing this challenge, motor insurance brokers need to undergo self-innovation and actively involve in digital transformation.
PIAM, the General Insurance Association of Malaysia, says that it enthusiastically supports the Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements.
The Ministry of Transport and Logistics is studying a review of the legal framework for motorcycle insurance, in light of the growth of delivery services especially in major cities.
Najm for Insurance Services Company (Najm) has launched a new telematics initiative to improve road safety in Saudi Arabia. The motor services company has already partnered with a number of insurance companies to adopt the new telematics system.
Atlantique Assurance will offer accident insurance (100% coverage) and health insurance (80% coverage by the insurer and 20% by the insured) to all Bee motorcycle taxi drivers, announced the Cameroonian company Bee Group, engaged in motorcycle transportation and delivery services.