GFIA pointed out that, among all financial sectors, the market conduct of insurers is already heavily regulated and supervised, and that insurance consumers are already highly protected. Additional tools may not, therefore, always be necessary.
GFIA has published its response
to a consultation by the Organisation for Economic Co-operation and
Development (OECD) on its recommendations regarding G20/OECD High-Level
Principles on Financial Consumer Protection.
Moreover, consumer protection is best
achieved through a regulatory and supervisory environment that supports
competition, innovation, cross-border trade, and financial strength,
and that gives due consideration to the principles of proportionality
and appropriate confidentiality.
GFIA
© GFIA - Global Federation of Insurance Associations
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