PRA urges industry to improve disclosure mechanisms

Secret talks

The Prudential Regulation Authority (PRA) has urged general insurance firms to develop and preserve a culture which makes staff feel comfortable with speaking up and flagging worries that they may have.

Gareth Truran, acting director for insurance supervision at the PRA, made the recommendations in a ‘Dear CEO’ letter published yesterday (5 November).

In the letter, Truran stated that there should be mechanisms put in place to help staff report concerns, which should also involve non-executive

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