Lloyd's chairman Lord Levene will outline a four-point plan to restore confidence in the insurance industry at the Philadelphia Risk and Insurance Management conference tonight.
Levene will aim to hammer home the importance of: eliminating conflicts of interests, increasing transparency; working with regulators to develop and require adoption of ethical principles of behaviour; communicating more effectively with other industries; and working with the board of directors, chief executives and chief finance officers.
He will tell business leaders at the Philadelphia Club: “If we are to retain the confidence of the key player in all of this – the customer – we need full disclosure and complete transparency about who is doing what exactly, for whom, on what terms and at precisely what cost.
“Becoming more transparent also means doing a better job at communicating how we work to those outside our industry. And this is a truth which applies not just to the insurance industry, but to all 21st century businesses.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
