Aldermanbury Declaration published today

UK general insurers will this morning be urged to restore its consumers’ confidence by committing to a framework of professional standards.

The Aldermanbury Declaration, out today, is the result of six months of analysis from a taskforce set up by the Chartered Insurance Institute (CII) and featuring some of the leading figures in the insurance market.

The Declaration calls upon all firms to operate clearly defined policies towards customer service, ethical conduct, qualifications, and continuing professional development. These are expected to demonstrate their commitment to the highest levels of standards and behaviour, and to be easily accessible to their customers and staff.

Barry Smith, CII president and chief executive of Fortis UK, who led the taskforce, hopes that by placing a renewed focus upon professionalism within general insurance, there will be “measurable benefits” for both those working within insurance, and for insureds.

“We believe that commitment to this package of professionalism represents a determined

statement of the intent of our profession to raise its standing and reputation with the public,” said Smith.

“We believe our proposals are ambitious but realistic, and call on colleagues to ensure they are

fully implemented by December 2013.”

Members of the CII taskforce included Amlin chief executive, Charles Philipps; Willis Holdings president Grahame Millwater; Benedict Burke, chief executive of Crawford & Co UK & Ireland; and Eric Galbraith, chief executive, British Insurance Brokers Association.