AIRMIC 2005: offstage rumblings change the agenda; this year's conference
of U.K. Themes and agendas for the coming year are as popular
with organizations in the U.K. as they are in the United States.
However, events have a nasty habit of hijacking attention so that
planned discussions suddenly veer off to focus on an issue such
as terrorism.This proved to be the case when the Association of
Insurance and Risk Managers assembled at the British seaside town
of Brighton in June.
Its chairman for the past year, Andrew Cornish, stated at the outset
that delegates would hear much about transparency in the wake of
the Spitzer allegations.Against a background of increasing opposition
to further European integration, they also heard broadsides against
Brussels and its plans to review the financial services industry,
as well as proposed company audit reforms deemed even more onerous
than Sarbanes-Oxley.
Also high on the agenda were the changed ranking of issues that
now preoccupy British risk managers and predictions on which are
most likely to enter their radar over the next five years.AIRMIC
set up a task force last November to monitor whether broker business
practices were changing voluntarily after Eliot Spitzer's assault
on insurance brokers and carriers. The association wanted to avoid
any "knee-jerk reaction," said Cornish. There have been
improvements in recent months, but they have not gone far enough.
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