PINS S6.9 Risk management policy — fraud risk
An insurer's risk management policy for fraud risk should include:
(a) internal controls and mitigation strategies;
(b) segregation of duties at an operational level and in relation to functional reporting lines;
(c) financial accounting controls;
(d) staff training and awareness; and
(e) appropriate processes for monitoring compliance with the insurer's procedures, controls, limits or other restrictions (such as those placed on investment managers or those making decisions on underwriting).
|Inserted by QFCRA RM/2013-1 (as from 1st January 2015).|