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Regulator to reduce red tape for general insurers

Employees falling from shredded red tape line - concept

Editor’s View: Emma Ann Hughes reflects on how general insurers should be careful about what they wish for from the Financial Conduct Authority's review of the rules governing financial services.

Ahead of Labour’s general election victory the party promised to tear through the volumes of prescriptive rules for general insurance. 

The party committed to a lighter touch regime with more focus on

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A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

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