The World Insurance Forum?s first day of industry sessions began with a keynote address from one who has seen the industry weather its share of storms.

Forty-year insurance veteran John Sinnott, a senior advisor to leading insurance services firm Marsh & McLennan Companies, Inc., opened yesterday?s sessions with sage words on where the industry has been and some views on where it is going.

Mr. Sinnott shared his views with delegates at WIF, the biennial insurance event that kicked off on Monday and runs through today at the Fairmont Southampton Hotel. The forum has attracted some 500 from insurance sectors around the world ? with delegates registered from as far away as Singapore, Japan, Russia and Australia. Mr. Sinnott has been with Marsh since 1963 and steadily rose through the ranks having been, just previous to his present post, chairman and CEO of Marsh Inc., the world leader in risk and insurance services and MMC?s largest operating company with 38,000 employees and serving clients in more than 100 countries. Mr. Sinnott started off in the group?s New York office, and moved up to senior vice president in 1978. In 1979, Mr. Sinnott moved to London as manager of Marsh & McLennan Limited. He returned to New York in 1980, was elected executive vice-president in 1984, president in 1988, co-chief executive officer in 1992, and president and CEO in 1995. He became CEO and chairman in 1999.

During his career, Mr. Sinnott has been active in numerous industry public policy initiatives, including those relating to insurance company solvency regulation, the integration of the financial services industry, and the role of the US government in providing backstop terrorism insurance coverage following the terrorist attacks on September 11, 2001. Yesterday, Mr. Sinnott, who was honoured as ?Insurance Leader of the Year? last year by the St. John?s School of Risk Management and Insurance, told WIF delegates he had been pushing for various reforms on Capitol Hill for many years, but that things took time.

He said he had, as long as 15 years ago, started lobbying Washington lawmakers for reforms to the US tort system. Although he said not much had happened, he predicted the ?best bet? for reform was in the area of how class-action suits are treated by the courts.

?I will admit to being a sceptic on getting things done in Washington,? he told the audience, but said he was also hopeful for some extension on coverage that has been provided under the Terrorism Risk and Insurance Act (TRIA), which is due to ?sunset? or expire in 2005. However, Mr. Sinnott said he would not be in favour of a permanent ?backstop? being put in place to protect the industry in the event of future terrorist acts, nor was he a supporter of a pool scheme.

Mr. Sinnott is a member of the board of trustees of The College of the Holy Cross, Northern Westchester Hospital, The Risk Foundation, and he also serves as a Director of James River Group Inc. and is a member of the Federal Deposit Insurance Company Advisory Board.

Mr. Sinnott?s recent honours include: Honoree, 2002, The New York City Police & Fire Widows? & Children?s Benefit Fund; Leadership Honoree, 2003, Holy Cross New York Leadership Council; and Honoree, 2003, Northern Westchester Hospital Foundation.