The chief executive of Willis Group Holdings is applauding New York State Superintendent of Insurance Eric Dinallo for instituting a rule requiring insurers to have contract certainty in place within a year.

Joe Plumeri, Willis chairman and CEO, said in a statement, “Willis has long held the belief that contract certainty is one of the basic principles of service and should be adopted across the industry. There is absolutely no excuse for policies to be delivered months after their inception, an all too commonplace practice in this business.

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