Commercial COR unacceptable, says Aviva boss Spencer
Aviva UK and Ireland chief executive Robin Spencer has branded the insurer’s commercial combined operating ratio (COR) as “unacceptable”.
The insurer today reported in its results for 2012 that the commercial COR had slightly improved to 104% from 105% in 2011.
However, Mr Spencer acknowledged this was not still good enough and warned that Aviva would not be afraid to take decisive action with brokers if it felt certain books were failing to perform.
"We our working very hard with our brokers to alleviate costs and get prices up and to take tough decisions if not hitting the targets," he told Insurance Age.
"We are going to be
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