Insurers need to do better on innovation, say chief executives
The insurance sector needs to up its game and help companies remove new risks from their balance sheets, panellists say
The insurance sector needs to make a bigger contribution in helping companies address new risks in an increasingly volatile and interconnected world, but cost is a restraining factor, according to a panel of chief executives.
Speaking at the Federation of European Risk Management Associations conference in Maastricht, the Netherlands, today, Mike McGavick, chief executive of XL Group, acknowledged that insurance firms have played a reduced role in helping companies shed risk.
"Given our sector's
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