Lancaster: rethink needed.
Underwriting standards came under fire at the Chartered Insurers Institute conference, with Tony Lan...
Underwriting standards came under fire at the Chartered InsurersInstitute conference, with Tony Lancaster, chairman and group chief
executive of Groupama Insurances, accusing underwriters of being "willing
to profit from investment for too long, relegating underwriting to the
bottom of the pile". Mr Lancaster pointed out the insurance industry lost
£150,000 per employee in 1999 and private motor made money for only two
out of the past 18 years.
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