As the country’s banks, asset managers and insurers gear up for the implementation of market conduct legislation designed to ensure customers are treated fairly, a survey conducted by KPMG shows that trust in insurers barely gets endorsement from one out of every two people. The advisory and auditing firm interviewed financial professionals for the survey.
The insurance sector was perceived to be the least trusted sector, scoring 2.7 out of five, with participants citing reasons ranging from negative ombud reports to the non-payment of claims and claims not being settled on time, according to the report.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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