Mark Everiss, Partner (and ARC Director) reports from the ARC AGM and Forum on 1 November 2008.
Paul Taylor opened the Forum, as part of the annual FSA presentation, by observing the high level of negativity still emanating from the US in relation to Solvent Schemes. He stressed that the FSA heavily engages with the NAIC on the issue. He noted the publication of a Connecticut paper almost endorsing Schemes but he said that it had been hijacked by the anti-Scheme lobby.
Mr Taylor also commented on the increase in activity over the year in Part VII Transfers and said the FSA Guide would be updated. Finally he noted changes in legislation relating to capital reduction and promised to put forward his views on his claims handling project in the New Year.
At the AGM, on the resolutions for election/re-election of Directors of ARC, Paul Corver, Luke Tanzer and David McGuigan were re-elected to the Board and Leena Ekman was elected to fill the vacancy on the Board.