Erscheinung:24.06.2013 Better protection for insured persons in developing and emerging economies
At the fourth Responsible Finance Forum hosted today and tomorrow by the German Federal Ministry for Economic Cooperation and Development (BMZ) and the German Federal Financial Supervisory Authority (BaFin), representatives of development policy, financial supervision and insurance industry are discussing consumer protection in emerging insurance markets.
No or inefficient consumer protection can have serious consequences for the insured persons. The means available to overcome the particular challenges for improving consumer protection in developing and emerging economies are discussed by more than 80 participants from the world of business, supervision and non-governmental organisations.
BaFin's Head of Department Elke Washausen-Richter was one of the speakers opening the international event. She emphasised how important collective consumer protection was and that BaFin took this topic very seriously. In future, BaFin will be advised on this important topic by the newly created Consumer Advisory Council.
The annual Responsible Finance Forum is intended to promote an exchange of knowledge and to reach consensus on the topics of the regulation of financial consumer protection, industry self-regulation and improving consumer education.
