News analysis - professionalism: brokers slow to embrace Aldermanbury Declaration

Contract being signed

The Aldermanbury Declaration is a year old this month and the Chartered Insurance Institute (CII) has signed up nearly 200 brokers, insurers, loss adjusters, claims companies and managing agents. However, despite this early success, particularly with insurers, on the face of it, brokers appear to be a little more reluctant than their insurer cousins to sign up.

If the broking market is made up of approximately 3,000 firms, then the number that has signed up amounts to roughly 4% of the market. There is nothing in the Declaration that any broker worth their salt would not want to be associated with so why the reluctance?

Alasdair Stewart, head of corporate development at the CII, said he was delighted with the success enjoyed so far but suggested the relative reluctance among brokers could be explained by size of company.

"We are delighted - the takeup

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

GIC completes Miller deal

Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: