The chief executive of the International Underwriting Association, speaking at an U.K. insurance industry conference, called on companies to appoint board level sponsors for all London market reform initiatives.

IUA CEO Dave Matcham made his remarks at the annual Xchanging conference in Brighton where he outlined a six-point plan for implementing a 'cultural revolution' in the way insurance and reinsurance business is transacted by the London market.

"My very simple but important message is that behavioral change is every bit as important as process change," Mr. Matcham said. "Those close to the debate have been unanimous on one point: that much of the change needed to deliver reform is about behavior and culture.

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