Financial Services Commission seeking to have fees increased for insurance sector as it moves to better regulate the industry

The Financial Services Commission (FSC) is seeking to have fees increased for the insurance sector as it moves to better regulate the industry.

FSC Executive Director Lieutenant Colonel Keron Burrell says limited resources have impacted the recruitment of new workers and purchasing of new technology.

Appearing before Parliament’s Regulations Committee to seek approval for the fee increase, Lieutenant Colonel Burrell says the industry has grown, and the FSC needs to keep pace.