The Financial Regulatory Authority (FRA) has issued a decision regulating the mechanisms and conditions for settling claims by the Egyptian Compulsory Insurance Association for Civil Liability Arising from Motor Vehicle Accidents (Compulsory Motor Insurance Consortium/Pool). The move is aimed at simplifying procedures and ensuring that those affected and their families quickly obtain their insurance rights.
The Insurance and Social Security Supervisory Authority (ACAPS) has issued a warning to motor insurance companies over practices that are deemed as infringing on policyholders' rights.
The continued increase in road fatalities in Australia underlines the need for the Commonwealth to assume a leadership role by conducting no-blame investigations into the underlying causes of the nation's worsening road safety crisis, according to Mr Michael Bradley, Managing Director of the Australian Automobile Association (AAA).
The government is undertaking public consultations on a proposed Road Accident Fund (RAF) Bill. The objective is to provide timely medical care to accident victims, cover funeral expenses and offer compensation to the injured and families of the deceased.
Major non-life insurers in South Korea have confirmed that auto insurance premiums will rise by 1.3%-1.4% this year, marking the first increase in five years since 2021.
The Insurance Association of Sri Lanka (IASL) has launched an E-Motor Insurance Digital Card and donated 500 tablets to the police, aiming to modernise motor insurance and enhance digital public services across the country.
The number of elderly drivers in a super-aged South Korea is increasing rapidly and so is the number of traffic accidents involving them. In 2020, elderly drivers accounted for 14.8% of traffic accidents; in 2024, this grew to 21.5%.
Insurance companies have increased motor premiums in the peak auto insurance renewal season- the turn of the year-even for vehicle owners with a clean claims record. The premium hikes have been as high as 46%.
The Middle East Insurance Company (MEICO) has announced a strategic decision to fully discontinue its motor insurance licence effective 1 January 2026, following an in-depth study by the board of directors and executive management.
Insurers in South Korea have tightened the liability insurance protocol, as fires and related mishaps involving electric vehicles (EVs) continue to rise in the country.