The Malaysian government has proposed increasing the individual income tax relief for medical expenses up to MYR10,000 ($2,318), which also covers medical and health insurance plans with co-payment features. The government has also proposed an increase in individual income tax relief on education insurance and medical and health insurance

The Motor Accident Claims Tribunal (MACT) here has directed an insurance company, rider or owner of a motorcycle to pay compensation of Rs 23.20 lakh to three minor children of Dharmender Singh, a resident of Uttar Pradesh, who died in an accident two years ago.

Many banks collaborate with insurance companies to provide health insurance policies to their customers. These bank-based policies, which are typically group policies, are designed to cover a large pool of customers

The Centre may introduce a Bill to push big-ticket reforms in insurance laws in the upcoming winter session of Parliament, to further liberalise the sector. The plan is to increase the foreign direct investment (FDI) limit to 100% from 74% at present, and introduce composite licensing of life and non-life insurance, sources told FE. Among other changes that will lead to the growth of insurance penetration in the country, capital requirements may be lowered for micro-insurance players. For composite licence, however, the the minimum capital threshold may be higher than for separate licence for life & non life.

Property and casualty (P&C) insurers in China , which has one of the fastest-growing new energy vehicle (NEV) markets, will see a more profound credit impact from NEV adoption compared to their global peers, says Moody's Ratings.