Here today, gone tomorrow
Following recent events, the industry is in danger of damaging its reputation and needs to learn from the mistakes of others
It has been a bad few weeks for the insurance industry.
First, we were reminded that insurance companies fail because they are badly run. The 818-page Penrose report into the Equitable Life scandal makes painful reading (not just because of its excessive length). It explains how poor management can destroy a sound, reputable and successful company in short order. This story is even worse than Independent, which was a 'here today, gone tomorrow' phenomenon. Equitable had been in existence for
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