MNB mulls ‘consumer-friendly’ home insurance certification
The National Bank of Hungary (MNB) could take a decision on introducing certification for "consumer-friendly" home insurance products in the second half of 2019, modelled on the central bankʼs "consumer-friendly" seal of approval for home loans.
Csaba Kandrács, MNB managing director for oversight of financial organizations, indicated the move in an interview with entrepreneurial website novekedes.hu.
Unlike on the market for compulsory vehicle insurance, competition on the home insurance market is weak, Kandrács noted.
He added that establishing a guarantee system for the insurance sector, along the lines of the safety nets provided for depositors by the National Deposit Insurance Fund (OBA), or for investors by the Investor Protection Fund (Beva), would be a prudent measure.
Watchdog Fines OTP Bank for Regulatory Shortfalls
Gov't Launches HUF 150 bln Job Placement Scheme for Over-30s
Biggeorge Adds 2 New Directors to Top Management
7th Edition of BSC Charity Beach Volleyball Tournaments Comi...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
