Ep 29 John Ludlow of Airmic: Insurance falling short of high standards and founding principles

Today’s guest brings with him a difficult message for our
industry in this Covid 19 crisis


Quite simply we’re not doing well enough.


We’re not being consistent enough, we are inflexible and some of
our decisions are being driven purely by cost and profit
considerations.


We are too distant from the customer, we are letting small
businesses down and are restricting cover going forwards where we
shouldn’t be.


Listening to me say this you would think he was a radical
plaintiff lawyer looking to whip up publicity for a class action
– but As CEO of the UK risk manager’s trade body AIRMIC John
Ludlow is anything but a firebrand.


His members are the global corporations that are the biggest
buyers of insurance in the UK and pay billions in premiums. They
are sophisticated professionals who rarely raise their voices.


In this podcast John describes AIRMIC as a critical friend of the
insurance industry.


This may be painful listening, but IN the next 20 minutes,
wherever you are I recommend you take detailed notes of what our
friend has to say.


NOTES:


Link to Airmic position paper on Covid-19:


https://www.airmic.com/news/press/airmic-calls-change-approach-insurers%E2%80%99-pandemic-response