By Kao Shih-ching / Staff reporterMeta Platforms Inc, the owner of Facebook and Instagram, has removed 39 scam advertisements from its platform, while Google Taiwan has not removed any, Financial Supervisory Commission （FSC） Chairman Thomas Huang （黃天牧） said yesterday.
Insurance companies’ total compensation to COVID-19 insurance policyholders has exceeded total premiums as the number of infections continues rising, the Financial Supervisory Commission’s (FSC) latest data showed yesterday.
As of Monday, aggregated compensation paid to those infected with COVID-19 or in quarantine grew 43 percent from a week earlier to NT$2.58 billion (US$87.1 million), higher than cumulative premiums of NT$2.11 billion, which were up 9.9 percent from a week earlier, commission data showed.
The data showed that 73,135 policyholders had been compensated, 23,231 more than the previous week, with the number of COVID-19 insurance products sold rising 7.6 percent to 2.69 million.
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The local insurance industry is expected to face more than NT$41 billion (US$1.38 billion) in COVID-19 claims amid a surge in domestically transmitted cases, Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) said yesterday.
In a meeting of the legislature’s Finance Committee, Huang cited an internal assessment that forecast insurance claims would surpass a NT$41 billion estimate made by a legislator.
Chinese Nationalist Party (KMT) Legislator Lai Shyh-bao (賴士葆) said that non-life insurance companies had sold about 7.6 million COVID-19 policies that are to pay holders if they test positive for the disease or are placed in quarantine as close contacts of