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“Need for improvement in insurance regulation” Swiss Re warns

A pile of coins with two magnifying glasses

A study from reinsurer Swiss Re has found that despite the insurance industry's performance during the financial crisis, the turmoil exposed “flaws” in the way insurers are regulated.

Swiss Re's latest sigma study, "Regulatory issues in insurance" finds that improvements could be made to the regulatory environment for insurers, but warns against a potentially damaging over-reaction

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Hidden risks in insurers’ culture and misconduct data

Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.

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