ROBERT L CARTER OBEnbsp;is Emeritus Professor of Insurance Studies at the University of Nottingham, UK. He has acted as a consultant for the Association of British Insurers, LAUTRO, the World Bank, OECD and others. PETER FALUSH is an economist, with 40 years experience in the insurance industry and elsewhere. He worked as a consultant for the Association of British Insurers and the OECD and as a financial journalist.