July 2, 2022
  • July 2, 2022

Harsh speeches cannot mask the central bank’s pale protection

By on September 30, 2021 0

The central bank is warning insurers it will crack down if they treat clients unfairly – but harsh rhetoric belies the reality of regulators’ soft-soft approach.

In a speech yesterday at an insurance industry forum hosted by Deloitte, Central Bank Chief Financial Officer Derville Rowland supported his demand by citing two instances where the regulator has been publicly and definitively behind the curve – the auto and home insurance double-pricing scandal and business interruption claims that plagued small business owners last year.

The differential pricing and business interruption insurance demonstrate the central bank’s focus on driving, cultivating and treating customers, insurance bosses said.