PINS S6.11 Risk management policy — legal risk
An insurer's risk management policy for legal risk should include:
(a) processes for ensuring that documentation is accurate and complete;
(b) processes to ensure that policies are adequately drafted so that the insurer does not have to pay out for risks not priced into the original premium; and
(c) procedures and controls for ensuring that the insurer complies with all legal, prudential and other regulatory requirements.
|Inserted by QFCRA RM/2013-1 (as from 1st January 2015).|