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Tough talk can’t mask the Central Bank’s pale protection

Donal O'Donovan


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Derville Rowland, director-general for financial conduct at the Central Bank of Ireland

Derville Rowland, director-general for financial conduct at the Central Bank of Ireland

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Derville Rowland, director-general for financial conduct at the Central Bank of Ireland

The Central Bank is warning insurers it will crack down if they treat customers unfairly – but the tough talk belies the reality of regulators’ softly-softly approach.

In a speech to an insurance industry forum organised by Deloitte yesterday, Central Bank director-general for financial conduct Derville Rowland supported her claim by citing two cases where the Regulator has been publicly and definitively behind the curve – the dual-pricing scandal in motor and home insurance, and the business interruption claims that plagued small business owners last year.


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