OECD INSURANCE GUIDELINES
May 1st, 2005
BY KEITH NUTHALLTHE ORGANISATION for Economic Cooperation and Development (OECD) has released guidelines for running insurance companies with a minimum of graft and fraud, following recent scandals, such as that involving the American International Group (AIG). These embarrassments, said the OECD, have revealed "huge financial irregularities and highlighted the need for the insurance industry and its watchdogs to improve governance standards". These included adopting strict internal control and reporting systems and appointing external auditors to certify annual ...
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