Brian O’Hara, chief executive officer of Bermudan group XL Capital, called for leading company executives to work together and adopt a coordinated approach to solving global issues facing the industry.

Speaking recently at XL Capital’s own global risk conference, O’Hara called for a more co-operative approach to the issue of social responsibility. “Society depends on us for more than just the payment of claims… it’s about adding value, about raising awareness of the issues, helping prepare for the worst while hoping for the best.”

O’Hara told delegates at the conference that he envisaged a “new role” for companies, which would involve the construction of a new global governance model and see more companies working as partnerships in order to solve the more worldwide issues facing the insurance industry.