Lloyd's of London CEO Inga Beale has applauded the mutual insurance sector's performance, but warned not to hide behind regulation as a reason not to innovate. Beale was speaking at the International Cooperative and Mutual Insurance Federation's (ICMIF) 23rd Meeting of Reinsurance Officials Meeting (MORO) in London, which Life Insurance International (LII) attended. She kicked off the agenda talking about the role of innovation and climate change in insurance, considering both the threats and opportunities that the industry now faces.