Atlas Magazine March 2009

Time for assessment

Insurance, more than any other activity, is a matter of figures, yet these need to be correct and sincere.

The late events of recent months have made the public opinion suspicious. A feeling of generalized discomfort and cheating is reigning over the financial market. Too many scandals, too many failures, a widening gap between real figures and the image of reveries projected by “the media”.

Unfortunately, this feel of unease is set to linger on throughout the first quarter of 2009 with the release of the final 2008 figures and the trail of disillusion that ensues.

Faced with the current disaster, the American and European authorities in particular have started to react. It is no longer possible to let irresponsible corporate executives run unbridled.

The State intervenes to save jobs and cushions the fallout of a systemic crisis that may undermine the social structures, and not to polish the image of insurers. It is up to the insurers to react and make sure the figures they display are credible and the activity they perform meets the public's expectations.

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