Regulators challenge two thirds of GI firms on operational plans

Regulations Folder on Cluttered Desk

Two thirds of general insurance firms have been challenged by regulators on their work to come into line with operational resilience regulations during the last 12 months, a benchmarking exercise by Sicsic Advisory and Oric International has revealed.

The regulations require firms to ensure key business services are able to withstand operational disruptions or recover from them within predetermined durations termed ‘impact tolerances’.

Since rules

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