When Bloomberg issued its report into sexual harassment issues at Lloyd’s of London earlier this year, the industry may have thought “this is as bad as it can get.” However, the sector’s problems show no sign of abating and the spotlight isn’t going away.
Today the Bank of England has warned chief executives across the industry to improve the corporate culture in insurance highlighting instances of what it deems “deep concern.” The Prudential Regulation Authority has issued hard-hitting public comments about the industry in a letter sent to top bosses across the general insurance sector.
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