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What can the ‘live’ market learn from legacy in terms of skills and practices? Leslie-Ann Giovnilli of AMS (Reinsurance) Services asks why one is seen as a poor relation to the other, when in reality they are both interlocked and interdependent.
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Published in ARC Inside Legacy Spring 2009
A hardy group of drinkers – sorry, delegates - came to the event at Auberge to witness what turned to be a quasi religious revival experience led by Mr John Curran (Clifford Chance) and his helpmeets Mr Rhydian Williams of Ri-Solve and Ed Foss Esq. of CMS McKenna in this figurative tent. It seems that policy wordings are the certainty that we crave in an uncertain world, a constant giving the power of the word to the people. No longer will we have to puzzle over cigarette packet summaries or beer mat generalities – we will have an all seeing, all knowing (at least in terms of coverage) guiding tract that will shine a light on the truth.
In the modern day equivalent of the coffee shop, that will be a wine bar then, today’s (re) insurance market moves along. It seems only fitting then that the legacy market also used this forum to gather a group of like-minded people that became ARC. It has been 10 years since this association was first mooted and in 2008 the largest legacy gathering worldwide will take place again at Merchant Taylors’ Hall in London. As the one market begets the other, a senior figure from the live market will be giving his assessment of the legacy market; what lessons can the live market learn from legacy managers and where should the legacy sector see its future.
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