Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
Insurance that stinks
- 15 August 2017
The insurance industry is regulated for good reason.
We sell paper promises for real money. Since paper doesn't cost very much this kind of trade will always attract the wrong sort of people.
So we start with a base level of expectation that no out-and-out fraudsters be allowed to sell insurance. Our regulators are pretty effective at preventing this.
But when people buy an insurance product they expect a slightly higher level of oversight than just preventing basic crime.
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