Regulator to crack down on insurers underestimating risks
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U.K.'s central bank will crack down on insurers that are overly optimistic about how much capital they need to cover growing risks from the United States, Reuters reported. Gareth Truran, acting director for insurance supervision at the Bank of England's Prudential Regulation Authority, said that the regulator sees "increasing areas of emerging risk particularly in some U.S. casualty lines such as financial and professional lines, medical malpractice and general liability classes."
