, Taiwan

Sales of COVID-19 insurance policy soars in Taiwan

Insurers sold 42,376 policies from 1 January up to 17 January.

The sale of COVID-19 insurance policies are skyrocketing in Taiwan in the first 17 days of January amidst rising local cases.

According to data from Taiwan’s Financial Supervisory Commission, insurance policies sold rose to 2,500 per day on average from 1 January to 17 January.

The commission’s data also showed that insurance companies sold 42,376 policies that cover losses incurred by COVID-19 infections, quarantine, home isolation or adverse reactions related to vaccinations, with combined premiums of up to NT$34.6m ($1.25m)

During the period, a total payout of NT$7.15m ($260k) was given to eighty policyholders.

Around 12.75 million policies were sold last year. The commission said it would be monitoring the compensation that insurers promise in their policies this year.

Follow the links for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Top three things killing the insurance industry
Thanks to these threats, 54% of insurers had an ROE below their cost of equity.
Insurance
How Emma transforms AXA Mandiri's digital strategies
Emma is an all-in-one digital platform that meets the customers' needs, from purchasing an insurance policy to booking gym classes.
Insurance