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Axa urges MoJ to cut legal costs

axa

Insurer Axa has welcomed the Ministry of Justice’s ban on referral fees but has urged the government to tackle lawyers fixed fees.

The MoJ announced its decision to scrap the fees earlier today almost three months after Axa declared it would stop receiving referral fee income.

The insurer made its decision in June and called for

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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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