EghtesadOnline: The insurance industry's total premium is expected to fall short of expectations in the current Iranian fiscal year, largely due to the ruinous Covid-19, rising inflation and forex rates at historic highs, the president of the Central Insurance company of Iran (CII) said.
EghtesadOnline: The Central Insurance company of Iran, the supervisory and regulatory body of insurance industry, has notified insurance companies to improve their performance and take action against agents violating online sales and marketing regulations.
EghtesadOnline: Unprofessional approach of insurers in underwriting medical insurance policy categories could inflict considerable loss on the insurance industry's performance in the coming years.
EghtesadOnline: The insurance industry's profit amounted to 45 trillion rials ($346 million) in the current fiscal year (started March 2019), president of the Central Insurance company of Iran said, adding that agents and brokers had a big share of the gains.
EghtesadOnline: The head of Central Insurance company of Iran, the regulator of the insurance industry, says insurers’ earnings from selling insurance policy will reach a record of 600 trillion rials ($5.3 billion) by the end of the current calendar year in March 2020.
EghtesadOnline: Central Insurance company of Iran (CII), the regulatory body of Iran’s fast growing insurance industry, is working on a scheme to cover bank accounts against cyberattacks.
EghtesadOnline: Pundits and economic experts looking closely at the key insurance sector are prone to ask one question: Why should the insurance industry be exempt from value added tax as some quarters have been demanding?
EghtesadOnline: Insurance industry plans to allow startups to handle 10% of Iran’s insurance market in the current fiscal year that started on March 21, said the head of Central Insurance company of Iran.
EghtesadOnline: The share of life insurance in the overall portfolio of the Iranian insurance industry is meager which has reduced the overall penetration rate of insurance cover in the country of 80 million people.
EghtesadOnline: As per an agreement between the Vice Presidential Office for Science and Technology and the Central Insurance company of Iran (CII), assistance of startups and knowledge-based firms are to be enlisted to revitalize the gradually expanding insurance industry.