Date: 2024-12-26 Page is: DBtxt003.php txt00026670 | |||||||||
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INSURANCE
NYU CONFERENCE ... APRIL 2024 Some TPB notes and observations ... INCOMPLETE Original article: Peter Burgess COMMENTARY Peter Burgess | |||||||||
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I attended the NYU 'Fifth Annual Volatility and Risk Institute' event last Friday and enjoyed myself immensely. But I am worried.
I started to learn about insurance in London in the early 1960s.when I was training as a Chartered Accountant with Coopers Brothers & Co. (CB & Co
combined with Lybrand, Ross Bros & Montgomery to form Coopers and Lybrand, then ten years later with Price Waterhouse to form PriceWaterhouseCoopers (PWC). Previously I had had degree level education at Cambridge in engineering and economics and a certain amount of industrial management training.
I do not have any formal post-graduate education, but some 60+ years of experiential training. It has been an exiting journey. Sadly, I am not at all happy the the results that have been achieved over this time ... there are few organization that are fit for purpose at this time in history. This is not good news.
There are a lot of individuals who understand the risks ... but I question whether they have the power to speak truth to power and do what is necessary to change the trajectory of progress from what currently exists to something that has a better change of success. I kept fairly quiet last Friday because my views and my concern are not 'popular' and maybe somewhat 'archaic' and I am essentially an insurance industry 'outsider'.
Having said that ... I am comfortable that my thinking has more substance than most of what I am seeing in the media, in academia, in corporate management thinking, etc.
My dream is to see conventional corporate financial reporting enhanced by equally rigorous social impact reporting and environmental impact reporting ... with reporting not only for the owners (investors) but all the other groups that are impacted by corporate activity! My training as a Chartered Accountant suggests that we have not progressed much since the days of Queen Victoria!
Any way I had a good time at NYU on Friday ... I will try to move forward constructively as best I know how!
Best wishes
Peter Burgess
Matt Junge
Head Property Underwriting US
CUO P&C Reinsurance
Contact options for Matt Junge
Call Matt Junge +1 847 273 1396
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