Reported 8 months ago
Banks in Taiwan are pushing for the option to offer premium financing and policy loans, but the Insurance Bureau has highlighted two prerequisites. To allow this, feasibility and demand must be considered, leading to discussions on amending the insurance law. Currently, banks are restricted by Section 120 of the Insurance Act for policy loans, and amendments would be required to open up this service. While the process faces challenges due to legal frameworks, the industry remains optimistic about potential business expansion opportunities.
Source: YAHOO