The coronavirus outbreak has seen a level of scrutiny directed at financial services perhaps not witnessed since the financial crisis of 2007/2008, and the last several weeks have been a time of significant upheaval within the insurance sector, as the spotlight of public attention increasingly turns to what insurance companies are doing at this time. Just before the lockdown within the UK, at the CII’s President’s Dinner and Public Trust Awards, CII President, Nick Turner, emphasised the importance in insurance companies acting ethically at this time, a sentiment further solidified by the FCA outlining its expectations for general insurance companies during the pandemic.
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