How I laughed (through the tears) to read that the insurance companies luminaries were all saying their companies would not be throwing out good underwriting principles in the current market (Times Two, CII Special, September, 2004).
As usual they either do not know what is going on in their offices, or are happy to turn a blind eye to the actions of their front line staff.
Groupama managing director François-Xavier Boisseau states "...it remains essential that we retain our discipline."
Interestingly, his company has just shaved £4,000 off a commercial combined case it quoted for last year. Back then it thought the liability risk was possibly too heavy for it.
Discipline retained there then.
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