Hiscox
Beazley and Chubb reveal Q1 coronavirus hits
Beazley has reported a $170m (£137.7m) impact from Covid-19 related claims while Chubb took $13m of pre-tax $13m losses in the first quarter of the year.
MP calls on government to force insurers to use dividends to pay coronavirus claims
Plaid Cymru MP Jonathan Edwards has tabled an Early Day Motion calling on the government to instruct insurers to put their dividends towards settling insurance claims resulting from the Covid-19 pandemic.
Hiscox confirms $175m coronavirus claims hit
Hiscox has confirmed it expects to pay net claims of $150m (£121.6m) due to the coronavirus crisis with the potential for another $25m if the current restrictions on “mass gatherings” are extended beyond six months.
Brokers warned that pandemic crisis will trigger rise in PI cases
Brokers and industry specialists are expecting to see a spike in claims against broker professional indemnity policies as a result of the ongoing coronavirus pandemic.
Blog: Coronavirus business interruption insurance – devil is in the detail for Hiscox and others
Most businesses will not be insured for Covid-19 disruption and in many cases the wording is clear cut. But for others, the devil is in the detail and policy wordings suggest that insurers should cough up vital interim payments sooner rather than later.
Nightlife broker seeks legal advice after QBE rejects clients' Covid-19 claims
NDML Insurance Specialists, an insurance broker that caters to nightclubs, has sought legal advice after around 60 of its clients had claims for coronavirus-related closures rejected by insurer QBE, Post has learned.
Hiscox Action Group grows to more than 100 businesses
A group of businesses taking on Hiscox over rejected Covid-19-related business interruption claims has grown to over 100 firms, Post has learned.
This week: Under pressure
UK insurers are coming under increased scrutiny as Covid-19 worsens. And this week that was certainly the case for Hiscox after businesses threatened the insurer with a class action lawsuit for rejecting claims related to the Covid-19 outbreak.
Blog: History is on Hiscox's side as claimants threaten Covid-19 BI legal action, but will its brand suffer?
This week Hiscox publicly defended itself against accusations it is refusing to pay valid claims linked to Covid-19 as a coalition of policyholders threatened legal action. Post content director Jonathan Swift reflects on the history of insurance action…
Hiscox fires out response as BI conflict rumbles on
Hiscox has outlined its exposures to coronavirus losses as businesses that have had claims for coronavirus-related interruption rejected by the provider have come together, calling themselves the Hiscox Action Group.
Settle Covid-19 claims fast and make interim payments, FCA tells BI insurers
The Financial Conduct Authority has said it will assess how insurers are interpreting business interruption policies, as it urged firms to settle valid claims quickly.
Hastings pushes ahead with dividend payment plan
Hastings Group has confirmed it will propose a final dividend of 5.5p per share at its AGM on 21 May despite calls from regulators for the industry to suspend payments during the coronavirus pandemic.
Hiscox rejects 'Public Authority' clause interpretation as coalition of BI claimants threaten class action
Hiscox faces a potential class-action lawsuit from policyholders that have had business interruption claims rejected.
This week: A whole new world
I'd like to tell you in my spare time this week I've learnt a new language or picked up a new skill but in the true spirit of staying indoors we've mostly been bingeing on Disney Plus, with the Aladdin remake a firm favourite.
Bank of England’s warning: Which insurers have put pay to dividends?
A flurry of insurers have pushed pause on dividend payouts following Bank of England and European Union warnings on being prudent in the face of the coronavirus crisis.
Insurer gender pay gaps shrink slightly
Insurers’ gender pay gaps narrowed marginally in 2019, with the difference between the median and mean pay of women and men shrinking by 0.94% and 1.46% respectively among a sample of top insurers collated by Post.
Analysis: How insurers are helping employees juggle home schooling with work: Joe Wicks excercise videos, support groups and emergency leave
“I’ve just done my first two hours of teaching this morning and I have new found respect for the teaching profession, that’s for sure”. That was one of the responses Post's content director Jonathan Swift received when asked what employers are doing to…
Analysis: What will the legacy of Covid 19 mean for the future of work as insurance staff migrate from the office to home?
Insurers might be closing their offices in the face of Covid 19, but they are quick to reassure everyone that it is business-as-usual. Jonathan Swift looks at what insurers are doing in the face of unprecedented upheaval and what the legacy might be when…
Analysis: Florists and flower stockist - Growing cover
The popularity of the Chelsea Flower Show has driven demand for small florists to start up and for larger garden centres to expand. Are their insurance needs being met though?
Analysis: A coronavirus call centre crisis?
Personal lines insurance providers are faced with a potentially “lethal” situation if call centre staff cannot go into work en masse due to coronavirus disruption, compliance experts have cautioned. Post asked brokers and insurers how they are preparing…
This Month: Best insurance employers to the fore
From November last year to January 2020 Post gave insurance employees the chance to nominate and rate their employers on topics ranging from management to diversity and work/life balance along with whether they would recommend the company to a friend.
Best Insurance Employer: The Top 20 – Hiscox 8.8
Hiscox was voted seventh in Post’s Best Insurance Employer poll after its employees rated the company on factors such as senior management, work/life balance and training and development.
Fewer than 10% of Hiscox events customers have pandemic cover
Hiscox yesterday played down worries over coronavirus as it revealed it had seen some small claims.
Hiscox profits dive 61% in 2019
Hiscox Group has reported a slump in pre-tax profits to $53.1m (£41.6m) in 2019 as catastrophe costs of $165m took their toll despite a significant rise in investment income.