BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
(Reuters) — Insurance company board members with different skills and experience reduce the risk of "groupthink", the Bank of England said on Wednesday, reminding firms to comply with requirements to have a diversity policy.
Insurers and other financial services firms "should seek a broad set of qualities and competencies when recruiting to the management/governing body," a letter from four executive directors of the Prudential Regulation Authority said.
Compliance to the rules requiring firms to have a policy to improve diversity at the top was "still not universal," it said.
"Chairs should take this opportunity to satisfy themselves that their firm is meeting the PRA’s requirements and take remedial action where they are not."
Lloyd's of London has been trying to improve diversity in the commercial insurance market, which employs 45,000 people, and has acknowledged issues with sexual harassment and day-time drinking.
The Bank of England plans to spell out how it wants financial firms including insurers to manage climate change-related risks, Reuters reported. Mark Carney, the central bank's governor, said the central bank would tell insurers to regularly test their strategic resilience against climate change risks and appoint a senior official to manage environmental risks.