With both regulator reviews and the Royal Commission final report finally released, the insurance sector continues to grapple with what it will ultimately mean for operations – but according to Lyn McMorran, executive director of the Financial Services Federation (FSF), the implications for New Zealand will be significantly less drastic than they will be across the Tasman, and will focus heavily on simply straightening up processes.
“We’re really looking at what’s come out of the Royal Commission in terms of the recommendations around conduct and culture,” McMorran told Insurance Business.
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