FSC Relaxes Online Insurance Regulations, Raises Travel Medical Insurance Coverage Limit
Taiwan's Financial Supervisory Commission (FSC) today revised its "Directions for Insurance Enterprises Conducting E-commerce," relaxing online insurance service items to an 'open in principle' approach. It also raised the medical coverage limit for travel insurance riders, from the current 10% of the main policy (20% for Schengen countries) to 30% of the main policy. The new regulations, effective in May, pave the way for the development of digital insurance companies.
📋 Article Processing Timeline
- 📰 Published: April 30, 2026 at 22:29
- 🔍 Collected: April 30, 2026 at 23:02 (32 min after Published)
- 🤖 AI Analyzed: May 1, 2026 at 02:18 (3h 16m after Collected)
Central News Agency (Taipei, April 30, Reporter Su Ssu-yun) - The Financial Supervisory Commission (FSC) today revised and issued the "Directions for Insurance Enterprises Conducting E-commerce," relaxing the online insurance service items for property and life insurance to an 'open in principle' approach. It also raised the medical coverage limit for travel insurance riders, from the current not exceeding 10% of the main policy (not exceeding 20% for Schengen countries) to not exceeding 30% of the main policy, and the maximum insured amount for minors is changed to a fixed NT$1.2 million, without proportional restrictions. The new regulations will take effect in May, paving the way for the development of digital insurance companies.
To enhance the convenience of online insurance and application services, the FSC today revised and issued the "Directions for Insurance Enterprises Conducting E-commerce." Chen Ching-yuan, Deputy Director-General of the FSC's Insurance Bureau, pointed out three major focuses of this revision: enhancing the convenience of online insurance services, raising the medical insurance coverage limit for travel insurance riders, and relaxing restrictions.
Currently, life insurance mainly covers 16 types of products that can be purchased online, such as traditional annuity insurance, travel insurance and its attached actual expense medical insurance, term life insurance, and actual expense health insurance. For property insurance, all types can be purchased online except for specific circumstances.
Chen Ching-yuan explained that the types of insurance that can be purchased online remain the same, but the online insurance service items for each type have changed from a positive list to a negative list, meaning it will be 'open in principle, restricted by exception'. Considering that identity verification methods have been strengthened, the restrictions are relaxed. However, actual implementation will still be determined by the insurers themselves.
Secondly, regarding the increase in the medical insurance coverage limit for travel insurance riders, Chen Ching-yuan pointed out that insurers have reported that overseas medical expenses are high, and the demand is not only for travel to Schengen countries. Since the attached medical insurance for online travel insurance is linked to the main policy, if people want higher medical coverage, they must increase the main policy's insured amount, which is less favorable in terms of choice.
The FSC's revision this time increased the maximum insured amount for the "Accidental Medical Expense Benefit Rider" and "Overseas Emergency Medical Health Insurance Rider" attached to travel insurance, from the current not exceeding 10% of the main policy (not exceeding 20% for Schengen countries) to not exceeding 30% of the main policy. The maximum insured amount for minors is changed to a fixed NT$1.2 million, without proportional restrictions.
Chen Ching-yuan gave an example: currently, the main policy insured amount for online travel insurance is mostly between NT$5 million and NT$10 million. Taking NT$5 million as an example, people can only purchase attached medical coverage up to 10%, which is NT$500,000, or NT$1 million for Schengen countries. However, for non-Schengen countries like the United States and Japan, NT$500,000 may not be enough for medical expenses. Therefore, considering market demand and risk control, raising it to 30% allows medical coverage to be increased to NT$1.5 million, providing more flexibility to the public.
In addition, according to current regulations, for minors, after converting the medical coverage, those aged 15 to 18 can only get NT$200,000 for non-Schengen countries, and those under 15 can only get less than NT$70,000. Chen Ching-yuan stated that considering medical needs do not differentiate by age, the maximum medical coverage for minors under 18 is changed to a fixed NT$1.2 million, without being subject to related proportional restrictions.
This revision by the FSC also stipulates that if the insurance association establishes self-regulatory norms after its members successfully pilot new services, other insurance companies can then conduct similar business according to these self-regulatory norms, without being subject to the restrictions of the Directions for Insurance Enterprises Conducting E-commerce. (Editor: Yang Lan-hsuan) 1150430. Choose to stand with facts, every sponsorship you make is a force to protect press freedom. Download the Central News Agency "First-hand News" APP to get the latest news instantly. The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.
To enhance the convenience of online insurance and application services, the FSC today revised and issued the "Directions for Insurance Enterprises Conducting E-commerce." Chen Ching-yuan, Deputy Director-General of the FSC's Insurance Bureau, pointed out three major focuses of this revision: enhancing the convenience of online insurance services, raising the medical insurance coverage limit for travel insurance riders, and relaxing restrictions.
Currently, life insurance mainly covers 16 types of products that can be purchased online, such as traditional annuity insurance, travel insurance and its attached actual expense medical insurance, term life insurance, and actual expense health insurance. For property insurance, all types can be purchased online except for specific circumstances.
Chen Ching-yuan explained that the types of insurance that can be purchased online remain the same, but the online insurance service items for each type have changed from a positive list to a negative list, meaning it will be 'open in principle, restricted by exception'. Considering that identity verification methods have been strengthened, the restrictions are relaxed. However, actual implementation will still be determined by the insurers themselves.
Secondly, regarding the increase in the medical insurance coverage limit for travel insurance riders, Chen Ching-yuan pointed out that insurers have reported that overseas medical expenses are high, and the demand is not only for travel to Schengen countries. Since the attached medical insurance for online travel insurance is linked to the main policy, if people want higher medical coverage, they must increase the main policy's insured amount, which is less favorable in terms of choice.
The FSC's revision this time increased the maximum insured amount for the "Accidental Medical Expense Benefit Rider" and "Overseas Emergency Medical Health Insurance Rider" attached to travel insurance, from the current not exceeding 10% of the main policy (not exceeding 20% for Schengen countries) to not exceeding 30% of the main policy. The maximum insured amount for minors is changed to a fixed NT$1.2 million, without proportional restrictions.
Chen Ching-yuan gave an example: currently, the main policy insured amount for online travel insurance is mostly between NT$5 million and NT$10 million. Taking NT$5 million as an example, people can only purchase attached medical coverage up to 10%, which is NT$500,000, or NT$1 million for Schengen countries. However, for non-Schengen countries like the United States and Japan, NT$500,000 may not be enough for medical expenses. Therefore, considering market demand and risk control, raising it to 30% allows medical coverage to be increased to NT$1.5 million, providing more flexibility to the public.
In addition, according to current regulations, for minors, after converting the medical coverage, those aged 15 to 18 can only get NT$200,000 for non-Schengen countries, and those under 15 can only get less than NT$70,000. Chen Ching-yuan stated that considering medical needs do not differentiate by age, the maximum medical coverage for minors under 18 is changed to a fixed NT$1.2 million, without being subject to related proportional restrictions.
This revision by the FSC also stipulates that if the insurance association establishes self-regulatory norms after its members successfully pilot new services, other insurance companies can then conduct similar business according to these self-regulatory norms, without being subject to the restrictions of the Directions for Insurance Enterprises Conducting E-commerce. (Editor: Yang Lan-hsuan) 1150430. Choose to stand with facts, every sponsorship you make is a force to protect press freedom. Download the Central News Agency "First-hand News" APP to get the latest news instantly. The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.