FSA challenge: Lloyd's responds
Lloyd's chief executive Nick Prettejohn, speaking in response to John Tiner's challenge to the industry to address the issue of contract certainty said: "Improved contract certainty including fully agreed policy wordings is critical to the health of the insurance industry. It is certainly a core objective at Lloyd's and I am very pleased that it will be a key focus of the FSA's work in 2005. "
He continued: "The litigation arising from 9/11 is a recent illustration of the problems, and the costs, that can arise when policy wordings are not clear and complete. The industry owes it to itsOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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