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Association creating standard cost indicator for insurance products

The Hungarian Insurers Association (MABISz) is working on a standard indicator that will show investors annualized costs of insurance products, allowing easier comparison, MABISz chairman Barnabás Trunkó told MTI.

The indicator is intended to be analogous with banks' “total cost of borrowing” indicator which banks are legally required to calculate and publish. Insurers would, however, adopt the indicator as a matter of self-regulation, Trunkó said. The indicator will be introduced from the beginning of next year. (MTI-Econews)