Proposed framework is ‘ambitious but realistic’, says chairman Barry Smith

A task force of insurance industry grandees has launched the Aldermanbury Declaration – a call for the sector to commit to a framework of professional standards.

The task force, chaired by CII president and Fortis chief executive Barry Smith, asks brokers and insurers to meet the new standards by 2013. Smith said: “We believe our proposals are ambitious but realistic, and hope those signing up to the Declaration will fully implement its recommendations.”

The framework includes targets for customer services, ethical conduct, qualifications and continuing professional development.