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<< Talks
The Liability Crisis - Causes and Cures
Stephen H Bamforth, UK
A look back to January
G&A's report to ACE UK Council
deteriorating claims experience
why?
A Summary of our findings
deep lying causes
need for ACE to be proactive
Aims
improve risk profile generally
improve claims experience
long term trends
Key Factors
profile
fee levels
The consequences
profile deficit equals income deficit
dampener on salary levels
good graduates go elsewhere
reduced training, supervision and innovation
reduced quality equals more claims
loss of position in the food chain
Resulting In…..
a vicious downward cycle
A growing skills shortage
a need for clients to invest
Some solutions?
increased fees
dialogue with clients
contractual risk management
business risk management
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