Business should not underestimate employee power says CII

As the UK economy goes through a period of turmoil and painful readjustment, retaining and developing experienced and competent staff is crucial for the long-term survival of firms, says outgoing CII president Lord Hunt of Wirral. Lord Hunt also emphasised that insurers and reinsurers must make substantial use of modelling in their risk and capital markets activities: “The use of ever more complex modelling, such as that employed by Lloyd’s of London in its capital assessment requirements, is designed to prevent the recurrence of market problems such as the ‘credit crunch’ that is currently dominating the headlines.”

Recently, the CII Group has responded to the Higher Education at Work consultation paper from the Department for Innovation, Universities and Skills, supporting the Government’s drive to increase skill levels within the UK workforce, and particularly welcoming the proposals in this consultation paper better to align the needs of business with educational provision.

The CII Group, the world’s largest professional body for insurance and financial services, has also been a keen supporter of Lord