The job of regulators is to look after the needs of consumers, but AIRMIC members have sometimes asked whether regulators really understand the business of corporate buyers of insurance
The job of regulators is to look after the needs of consumers, but AIRMIC members have sometimes asked whether regulators really understand the business of corporate buyers of insurance. AIRMIC, therefore, has invited three regulatory bodies to present their latest proposals and respond to members’ questions when they meet at the annual AIRMIC conference on 17 and 18 June in Edinburgh.
Among the expected issues for discussion are broker remuneration, business insurance competition, solvency requirements for insurers, insurable interest and laws of agency.
Doug Pennycuick, UK CEO of Allianz Global Corporate & Specialty, will chair the forum.
Forum participants are:
Seán Greenaway, case handler, European Commission competition team: A UK citizen and economist, Seán has worked at the European Commission Competition Directorate since 2001. He coordinated the final report of the Commission’s sector inquiry into business insurance.
David Hertzell, law commissioner, Law Commission: Until his appointment as a law commissioner in 2007, David Hertzell was a partner of law firm Davies Arnold Cooper specialising in insurance and reinsurance, and a member of AIRMIC, where he chaired the captive focus group.
Matthew Browne, senior associate, Financial Services Authority (FSA):
Matthew Browne leads the FSA’s work on transparency and conflicts of interest in the commercial insurance market, which has included the publication of an independent report in 2007 and a discussion paper in March 2008.
Another addition to the programme is a workshop by Janice Ochenkowski, president of the US Risk & Insurance Management Society (RIMS) and a managing director of Chicago-based property and investment managers, Jones Lang LaSalle. She will speak to the hearts of AIRMIC members when she discusses how they can better define their role and identify how to improve performance and advance to the next level in their work.
AIRMIC expects about 700 members and other risk professionals to take part in the conference, which is being held in Scotland for the first time.