I joined Eagle Star Insurance Co Ltd in July of 1968 as a graduate trainee and left them in 1988 to take up a senior position with Regent Insurance Co Ltd in Central America where I remained until my retirement on my 60th birthday.
My life in Insurance has been spent in three different markets, The UK, Europe and Caribbean/Central America, all in Management and Senior Executive roles. In latter years I have been privileged to represent the Industry on national and regional advisory boards which has given me the opportunity to lecture on Insurance to both Public and Private sector audiences. Of my 39 years in Insurance 34 were in management roles in Medium size Companies, this gave me hands on experience in Underwriting and Claims internationally. Although I spent the majority of career outside of UK, I have always kept close ties to London Market and kept myself abreast of change.
In the final years of my Insurance career I was often asked, on an Ad Hoc basis, to resolve or help resolve both National and International Insurance related conflicts.This led me to qualify as both a Mediator and Arbitrator in both the UK and USA and a second career in ADR.
Arbitration is a process where parties,by agreement, submit their disputes to one or more independent persons for a final and binding decision, known as an award. This award has the force of law just as the judgment of the court.
Mediation is a process in which an impartial professional facilitates dialogue, debate and negotiation which leads to a voluntary settlement of the dispute. This is often used as a method of resolving the dispute before arbitration or litigation.
Today’s Financial Services Sector, more than ever, faces the problems caused by the length of time it takes for a dispute to reach court. In the UK and US it can be two to three years, in the Caribbean and Central America it can be five to six. The financial and public relation issues as well as the realities of memory loss and missing witnesses produce multiple negatives for insurers. Arbitration and Mediation are established and cost-effective alternatives to litigation. The procedure is private and the impartial professional, as the timing of the process, is chosen by the parties in dispute.