Economy, Business And Markets

Insurers Criticized

Insurers Criticized Insurers Criticized

The insurance regulator has criticized insurance managers and private hospitals for their lack of customer orientation, BINA news website reported, citing an official. “Clearly, an insurance company indifferent to the needs of clients and consider compensation of losses a disaster will suffer operational risk,” the president of Central Insurance of Iran, Mohammad Ebrahim Amin, was quoted as saying. Amin addressed his criticism at managers who direct the premium income out of their companies and therefore face difficulty when paying for losses. He called on the insurance firms to adjust their financial statements to the regulations set by the CII and warned that adverse consequences of any negligence in this regard will threaten the interest of the insured. Considering public trust as the key to the survival of the insurance industry, he said, “The primary encounter of insurance companies with clients is at the time of loss compensation and this is when they show their true face to the people.” Amin also warned that lack of attention to loss-benefit analysis by insurance managers could not only endanger the interest of the company itself but also damage the trust of the public and authorities in the insurance industry.