DALLAS–U.S. underwriters can save money and avoid some litigation problems by committing to the concept of contract certainty, as insurers in the United Kingdom have done, an industry professional advised at a conference here.
David Casement, vice president, general counsel of Chubb Insurance Company of Europe, provided that counsel at the Inland Marine Underwriters Association's 75th Annual Conference.
Mr. Casement told attendees that in the UK the insurance industry has made a commitment to contract certainty as part of the country's compliance with the Financial Services Authority's (FSA) principles-based regulatory scheme.
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