Past
A wave of legislative changes
in the financial services and
insurance sector could prove
so complex and costly to
comply with that smaller
role players could be forced
out of the market.
Additional staffing and
improved IT systems are
sometimes necessary to
comply with legislation and
although these are aimed at
consumer protection, they may
also impact the cost of insurance
for policy holders.
Consumer protection should
always be a priority and the
focus of an insurance policy, at
the same time meeting business
objectives
Future
Insurance plays an important
role in a healthy economy
and government should have
a more realistic approach.
This would ensure legislation
falls in line with global
trends.
INSERT & CAPTION
Government should have a
more realistic approach to
ensure legislation falls in
line with global trends.
– Susan Duvenage
