Insurers must do better -- FSA
REGULATORY UPDATE
LONDON -- A new study by the UK’s Financial Services Authority into risk management at insurance firms concludes that, although practices are improving in general, there is a long way to go before insurers are at the same standard as other types of financial services companies. This gap is especially in evidence in the operational risk and corporate governance areas, the regulator indicated.
FSA officials surveyed 39 firms in the UK between January and June 2003, visiting 19 of the firms in
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