PSzÁF fines CIG Pannonia for shortfalls
Hungarian financial market watchdog PSzÁF said last week that it fined CIG Pannonia life insurer a combined HUF 8 million for prudential and consumer protection shortfalls. PSzÁF prohibited CIG Pannonia from mixing life insurance with general insurance activities. CIG Pannonia misled clients when it said they could “recoup fees” on unit-linked products, PSzÁF said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.