Steve Langan says despite government’s rhetoric on having less regulation it is the opposite in insurance
Hiscox UK and Europe managing director Steve Langan has called for more light touch regulation in the insurance industry from a future government.
Ahead of the general elections on 7 May, Langan told the Yorkshire Post that regulation was increasing in the insurance sector all the time and that in his time in the industry the regulatory burden had become much tougher.
He said: “I think most well-managed, well-run insurance companies can cope with it but it is a massive, massive burden and has grown, even in my ten years, a significant amount.
“Light touch regulation please, sensible regulation, not regulation for the sake of regulation.”
Langan said despite the government’s rhetoric on having less regulation, it was the opposite in the insurance industry.