Opposition Wants Gov't To Reconsider Withdrawal From The FSC | TVJ News
The Parliamentary Opposition is warning of a possible increase in insurance premiums following a $500 million withdrawal from the Financial Services Commission, FSC.
The FSC regulates Jamaica’s insurance sector.
Finance Minister Fayval Williams has indicated that the government’s decision to withdraw the funds does not pose a threat to the commission.
However, Opposition Spokesman on Finance Julian Robinson argues that if insurance companies are required to pay more money to the FSC, the additional cost could ultimately be passed on to consumers through higher insurance premiums.
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