I haven’t been slow with criticism of the insurance industry! I am not alone as both Citi & PwC have already flogged their concerns about the UK commercial market.
Having said that at least some of the Insurance CEO’s have recognised that their focus must switch back to terms, for so long thought to be unfashionable to many:
LONG TERM – SUSTAINABILITY – RISK MANAGEMENT – TRANSPARENCY
Having said that I was still stunned to see that there are those for whom, apparently, there is no hope! Those “cash rich reality poor”, circa 20%, of individuals in banking and insurance who think that public trust has actually increased as a result of the economic crisis.
And I thought that Ivory Towers dies out around the same time as the Dodo.