Blog: Is insurance under-fined?
John Byrne of regulation experts Corlytics controversially argues that brokers could see worse from the regulator and says the market should learn from the “painful lessons” in banking.
Up until now, the insurance sector has arguably been under fined. In today’s increasingly complex regulatory environment, each regulated sector is expected to learn the lessons of the broader financial services community.
The insurance world has not had to bear the full glare of the regulators. But that is changing and One Call’s recent fine has shifted the high price of getting it wrong to centre stage.
There are lessons to be learned from other financial sector. Have you been paying
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