Earthquake insurance claims generate most claims after COVID, flood emergency: AFCA

The September 2021 Victoria earthquake generated the third highest number of insurance claims in the past 12 months after COVID-19 and floods in southeastern Queensland and New South Wales, according to the Australian Financial Complaints Authority (AFCA ). Key points: On September 22, a 5.9 magnitude earthquake struck near the regional Victorian town of Mansfield … Read more

GBM Bahrain wins the Digital Transformation project for Arab War Risks Insurance Syndicate

Manama, Bahrain – Arab War Risks Insurance Syndicate (AWRIS), an organization that works to protect the interests of local insurance markets in the Persian Gulf area, has selected Gulf Business Machines (GBM) in Bahrain to accelerate its transformation digital by implementing a new reinsurance system. In a strategic partnership with SAP, GBM will provide the … Read more

Vero NZ Business Survey Findings Raise Insurance Concerns – Daily – Insurance News

New Zealand SMEs may not be adequately insured, as most of those who have made changes to their business due to covid have not spoken to their broker, according to an annual survey of the Vero SME Insurance Index. Preliminary survey results released today show 79% made business changes and 10% changed their insurance policy, … Read more

Your life insurer may soon be able to offer a health insurance policy as well

According to a report in mintIndia’s Insurance Regulatory Development Authority (Irdai) may soon allow life insurance companies to offer health insurance policies. The move, if and when implemented, risks reducing policy premiums and increasing access to affordable healthcare coverage. According to the report, the IRDAI internal committee has … Read more

GIC Re sells, leads the insurance pool to cover imports from Russia

Overcoming its initial concerns, domestic reinsurer GIC Re helped form an insurance pool to cover most imports from Russia. While it will be called the fertilizer pool with a corpus of Rs 500 crore, it can also be used to cover the risks of oil and gas imports. This was decided … Read more

icare liabilities rise, improvement plans move forward – Regulation and government – Insurance news

Liabilities for the icare workers’ compensation scheme in NSW increased in the second half of last calendar year from six months earlier as the insurer continues to work on a performance improvement program amid headwinds. Nominal liabilities of the insurer increased to an estimated $ 22.2 billion as of December 31, from $ 20.1 billion … Read more

IRDAI plans to link insurance fraud with individuals’ credit scores

The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance fraud a benchmark for calculating credit scores in order to curb the growing number of scams. The proposal, which is part of the recommendations made by a working group formed by the IRDAI and the General … Read more

A split usage-based auto insurance model for level four autonomous vehicle owners?

On June 15, 2022, the National Highway Traffic Safety Administration (NHTSA) released its initial summary report on accidents with self-driving vehicles collected through his Permanent general order. According to the NHTSA, 130 accidents involving vehicles with level 3-5 automated driving systems have been reported in the past year. Although NHTSA’s recent summary does not specify … Read more

CBB issues new directives to Bahrain insurance companies

Bahrain – The Central Bank of Bahrain (CBB) has issued new guidelines to insurance companies requiring the establishment of an internal actuarial unit within their organizational structure. In addition, all insurance companies must appoint internal expertise in Bahrain in preparation to qualify them to become qualified actuaries licensed by recognized international actuarial institutes to carry … Read more

ALLIANZ PARTNERS ABOVE BOTH TRAVEL INSURANCE CATEGORIES AT TRAVELAGE WEST “WAVE” AWARDS

RICHMOND, Go., June 16, 2022 / PRNewswire / – Travel insurance and assistance company Allianz Partner has taken home victories in both categories of travel insurance to the 2022 TravelAge West WAVE (Marks of excellence from Western consultants), including Travel insurance company providing the best support for travel consultants And Travel insurance company that provides … Read more