The hospitality in Rome, where risk managers and insurers gathered last week for the Federation of European Risk Management Associations conference, was a hot topic of discussion, but few had a worse time of it than ACE, which had to do some frantic reorganisation when its breakfast and lunch meeting rooms were double booked.

Marsh Europe chief executive Bill Malloy also had a rough time of it. His bag was lost en-route from New York, forcing him to attend Marsh's cocktail reception in his jeans.