Joe Plumeri, the outspoken CEO of global broker Wills Group Holdings, has issued a statement lauding the goals set forth by John Tiner, the CEO of the U.K.’s Financial Services Authority (FSA) in a recent speech.
“Today, John Tiner put forth a number of challenges to the global insurance industry – share information, flatten the peaks and valleys of the underwriting cycle, invest in people and technology and make good on the fundamental tenets of our promise to clients – deliver clear policy wordings in an appropriate amount of time and be there for clients in their hour of need advocating for the timely payment of claims,” Pumeri stated.
“These are all initiatives we at Willis support with the goal of changing the industry to meet the needs of our many constituents,” he continued. “Today, we are pleased that Mr. Tiner has assumed the mantle of leadership and we look forward to working with him, the FSA and other insurance leaders to move the industry forward on these important matters.”
The FSA officially assumes regulatory control over the U.K.’s insurance industry on January 1, 2005. David Strachan has been appointed to head the division charged with overseeing the industry.
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