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Bank of England to focus more on protecting insurance policyholders

Bank of England to focus more on protecting insurance policyholders

Monday, March 20, 2017, 5:41 PM

The Bank of England will spell out more clearly what insurers should be doing to protect policyholders such as the elderly after a report called for clearer safeguards. The BoE’s IEO looked at how the central bank’s supervisory arm, the PRA, ensures policyholders are properly protected. The IEO said that the PRA’s “articulation of its policyholder protection responsibilities appears to be unfinished business”.
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