Corruption of public officials has not been viewed as a significant problem for the insurance industry. That may change. Fighting corruption is high on the international agenda. These efforts are both evidenced and given impetus by the United Nations Convention Against Corruption (“UNCAC”), now ratified by over 100 countries. Indeed, there are now seven international anticorruption conventions, including UNCAC and the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
