Banks and insurers reminded of their requirements to customers amid cost-of-living crisis

All firms regulated by the Central Bank are required to have sufficient operational resilience to manage change without creating risks to consumers.

The regulator wrote to firms to urge them to manage potential risks for consumers arising from energy-driven inflation, rising interest rates and significantly higher consumer prices and business costs. Picture: Jason Alden/Bloomberg

The Central Bank has reminded insurers and banks of their requirements to customers amid the cost-of-living crisis.

The regulator wrote to firms to urge them to manage potential risks for consumers arising from energy-driven inflation, rising interest rates, and significantly higher consumer prices and business costs.