Underwriters: Like Lambs To Slaughter?

One of my reinsurer sources knows a broker who years ago linedup gleefully (with many of his brethren) at the desk of awet-behind-the-ears underwriter in the London company market, whowas foolishly writing any risk that came his way.

That young underwriter was a popular man within the Londonbrokerage community in his short career. The insurance companyultimately suffered–no doubt from a general lack of underwritingcontrols and not just from the activities of one underwriter.Meanwhile, the brokers laughed all the way to the bank.

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