I don't need to visit the place or live there to laud some of their actions against financial industry crooks. As well as beating England in a recent soccer-ball competition they seem a praise-worthy bunch.You've never been to Iceland, have you?
In this country it's not even a good idea to deal with an insurer or bank you have heard of or might have dealt with for years. There is no protection for policy-holders / depositors / victims of other failed financial services organisations. ... The Dellboys flock here and breed because they have lots to gain and risk no penalties.
I don't need to visit the place or live there to laud some of their actions against financial industry crooks. As well as beating England in a recent soccer-ball competition they seem a praise-worthy bunch.
@Sarenco How on earth did you reach that conclusion?
Sorry I meant to add that the Central Bank, independent of any EU regulation, can insist that any motor insurer wishing to transact business here have sufficient liquid assets in the State to cover claims / losses or can prove that their potential liabilities are sufficiently covered by their own re-insurance.
@Sarenco
The central banks in the US & UK are in private ownership and are not arms of government, they have a different agenda.
Neither the FED nor the Bank of England has any role in the authorisation or prudential supervision of insurance companies. They are both independent of any executive or legislative branch of government (as is the case with our Central Bank) but they are certainly not in private ownership...
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