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Increased regulatory scrutiny of the insurance industry has led to greater costs but could eventually pay off with better-run companies, according to a recent Standard & Poor’s report.

“The recent spate of regulatory events, including allegations of bid-rigging and the accounting propriety of certain transactions, illustrates the financial damage caused by a lack of corporate responsibility, inadequate financial disclosures, and in some cases alleged corporate and accounting illegalities,” the report stated.

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