REVIEW EXPOSES FLAWS IN INSURANCE BROKERS’ BRIBERY AND CORRUPTION CONTROLS
November 1st, 2014
United Kingdom commercial insurance brokers are still struggling to assess and manage anti-bribery and corruption (ABC) risk, a review by the national industry watchdog has found.More than half of 10 intermediaries surveyed by the UK Financial ConductAuthority (FCA) over eight months to June 2014 had taken some steps to assess and manage such risks."But for the majority, this work was still in progress and more had to be done before their ABC systems and controls would be fully effective," the authority commented in 'Managing bribery and corruption risk in ...
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