Irish insurance firms face more scrutiny, supervisor says
Inspectors will spend more time on site, Cronin tells industry
Irish insurance firms "can expect an increased level of supervision" under the new assessment model followed by the central bank, according to its director of insurance supervision on February 24. The central bank would be engaging in more on-site inspections and requiring more evidence, Sylvia Cronin says.
The "redesign" of the bank's probability risk and impact system (Prism) model changes the level of engagement it will have with firms. Under the new approach, each company is disaggregated
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