RSA Insurance Ireland fined €3.5m

map-of-ireland

The Central Bank of Ireland has reprimanded RSA Insurance Ireland and fined it €3.5m (£3.16m) on 18 December 2018.

The Irish regulator listed the breaches between 2009 and 2013 as including:

Failure to establish and maintain technical reserves in respect of all underwriting liabilities assumed by it; Failure to have administrative and accounting procedures and internal control mechanisms which are sound and adequate; and Failure to have robust governance arrangements.

It noted that RSA

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: