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Government Defends Plans for Stricter Insurance Regulations.

Government Defends Plans for Stricter Insurance Regulations.

Government defends its bid to put in place stricter insurance regulations.

Finance Minister, Colm Imbert, says this is necessary since the insurance industry accounts for a large part of the country’s economy.

Minister Imbert adds that this approach can also help prevent another collapse similar to CLICO which occurred in January 2009.

He was speaking during a motion that the House of Representatives adopt the Report of the Joint Select Committee appointed to consider and report on the Insurance Bill, 2016.

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