ABI unveils risk principles

The industry agreed it had entered the credit crisis in a strong position and weathered the storm well, showing resilience to the continuing shocks to the financial system. It believes the buoyancy seen reflects the strength of the insurance business model, especially the attention paid by insurance regulators to fostering risk-based supervision. The industry agrees insurance regulation should continue to be based on key principles such as encouraging competition and sharing the regulators’ objective of protecting policyholders. It also says international insurance companies should be...