China lays down stricter rules for online insurance sales

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The rules also limited what products could be sold online, including to accident cover, health insurance, term life insurance and a few others.

Companies have until the end of this year to comply with the regulations, or else they must stop selling insurance products online by Jan. 1.

According to the CBIRC, several companies had engaged in “improper innovation” and “disorderly competition” to the detriment of consumers’ rights. The regulator also noted an increase in complaints filed by customers against online insurance sellers, Bloomberg reported.

The move is part of Beijing’s efforts to clean up the technology sector, which has

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HL Assurance to underwrite accident cover for Singapore taxi passengers

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ComfortDelGro Taxi and HL Assurance have launched an accident insurance product for taxi passengers in Singapore.

The product, known as ComfortProtect, is exclusively available to passengers who book ComfortRIDE and activate the policy via the ComfortDelGro Taxi booking app. For a premium of 30 cents, it provides coverage for personal accident such as accidental death and permanent total disability of up to SG$50,000 for 24 hours, starting from the time the passenger boards the taxi.

The policy will also provide a SG$500 cash payout if the insured tests positive (via RT-PCR test) for COVID-19 within 14 days from the date

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Zurich’s group chief customer officer on establishing a brand evolution

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“The environment has changed, in the sense that big tech companies have changed the game, they’re digital, they deliver faster, they understand the need for a seamless experience and to understand customer data. They have disrupted what we do,” she said. “Then on the other side, insurtechs are also disrupting what we do because they have the digitally native [foundation needed] to be faster, more seamless and more engaging than us.

“Of course, they may not be as big or as dominant as we are, but we should still remember the history of the disruptors that came into other industries

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Howden swoops for Bermuda broking firm

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International insurance broker Howden has announced the acquisition of Foram Brokerage, an independent insurance and reinsurance broker based in Bermuda. Howden said the acquisition confirmed its commitment to the Bermudian market and offered clients access to an expert team made up entirely of Bermudian nationals.

Foram provides specialty brokerage services in casualty, energy, professional lines, construction, product recall, property and healthcare lines, predominantly to US Fortune 100 clients requiring access to the Bermudian market. 

“Foram joining us reaffirms our strategy of giving clients access to all key markets via our global insurance market hubs,” said Paul Redgate, deputy chair of

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