July 29, 2024
Egypt: the Insurance Federation of Egypt reviews corporate strategy
In Egypt, the Insurance Federation has revealed that insurers have several strategies they can use to address aviation emissions, including risk assessment and pricing, as well as adherence to emissions reduction targets. Source: Al Morakeb Group
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Bilal Jarjour
July 29, 2024
Kuwait: CMA exempts insurance companies from governance
In Kuwait, the Capital Markets Authority (CMA) issued a decision no 90 of year 2024 regarding the exemption of listed companies regulated by the Insurance Regulatory Unit from the provisions of article 15 (Corporate Governance) of law no 7 year 2010. Source: الجريدة
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Bilal Jarjour
July 29, 2024
Algeria: Insurance market grows by 4% to 48.4 billion dinars in the first quarter of 2024
Algeria’s national insurance market achieved a turnover of 48.4 billion Algerian Dinars in various branches during the first quarter of the year, being a growth of 4% compared to the same period of last year, according to the National Insurance Council. Source: العربية
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Bilal Jarjour
July 29, 2024
Jordan: Council of Ministers issues three regulations related to the insurance sector
In Jordan, the 2024 Compulsory Insurance Law was issued, as well as the Unified Insurance Bureau Law and the Guarantee Fund for Insureds. Source: أخبار البلد
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Bilal Jarjour
July 27, 2024
America: CrowdStrike Event Cost According to Cyber Cube
Initial insurance losses from the outage of CrowdStrike IT’s service to the standalone cyber insurance market are expected to range from $400 million to $1.5 billion, according to Cyber Cube, a firm that specializes in designing cyber risks and exposures. Source Al Morakeb Group
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Bilal Jarjour
July 27, 2024
Aviation: Loss adjusting must evolve alongside risk
According to Charles Taylor managing director, Asia Pacific – aviation Bob Battoo, loss adjusters in Asia will need to “closely monitor” a number of factors in the aviation industry, as well as the interplay between them, in order to identify emerging risks and assess potential impacts. Source Asia Insurance Review
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Bilal Jarjour
July 27, 2024
Comprehensive auto insurance policies hiked by 20-25%
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. Source Middle East Insurance Review
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Bilal Jarjour
July 27, 2024
Bill adopted to extend insurance notification period from 20 days to 60
The House of Representatives has during a plenary session unanimously adopted a Bill to amend the Insurance Code. Source Middle East Insurance Review
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Bilal Jarjour
July 25, 2024
The Council of Ministers approves a memorandum of understanding between the General Organization for Social Insurance and the Deposit and Management Fund
The Saudi Council of Ministers, in a session chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in Jeddah, approved a memorandum of understanding for cooperation in the field of social insurance between the General Organization for Social Insurance in Saudi Arabia and the Deposit and Management Fund in…
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Bilal Jarjour
July 25, 2024
Risk managers take steps to qualify for cyber insurance
A majority (76%) of IT and cyber security leaders have invested in cyber defenses to qualify for cyber insurance according to a new global survey by Sophos, the cyber security solutions company. Source Asian Insurance Review
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