Legal
Insurer test case BI claims payouts to March revealed
Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
Gurpreet Johal to lead Deloitte’s global reinsurance and London market team
Deloitte has named Gurpreet (Guru) Johal as UK and global sector leader for global reinsurance and the London market.
Mishcon de Reya sees instructions in Covid-19 reinsurance disputes
Law firm Mishcon de Reya, which represented the Hiscox Action Group in the business interruption insurance test case, has revealed it has seen instructions concerning the emergence of disputes in the global reinsurance market.
For the record: Brightside sold to Markerstudy; Aviva acquires Axa XL HNW team; Aston Lark buys Bruce Stevenson and Inflexion invests in broking again
Post wraps up the major insurance deals, launches and investments of the week
Fully Comp 14: First reactions to the MoJ whiplash portal protocol and practice direction
For the fourteenth episode of Post’s video series Fully Comp we gathered together a group of experts to discuss the highly anticipated publication of the rules, tarriffs, pre-action protocol and practice direction linked with the whiplash portal.
Editor's comment: PI breaking point
Spending most of the most recent half term indoors with nowhere to go, we turned to being creative and churned out paint pouring masterpieces, pottery-wheel egg cups (although eggs can’t fit in them) and designed our own t-shirts
Briefing: IPT – good news in the data but reasons for concern remain
The only doubt around the bill to pay for fighting the Covid-19 pandemic is just how big it is, considers Post senior reporter Emmanuel Kenning.
For the record: Aviva disposals, Beazley creates digital unit, Fenchurch & Partners launches, new D&O MGA Rising Edge and Zurich invests in insurtech
Post wraps up the major insurance deals, launches and investments of the week
IBM unlawfully breached Co-op IT contract and must pay £13m, High Court rules
Co-op Insurance has won its claim against IBM for breach of an IT contract in 2017 and is entitled to a £13m net sum, the High Court has ruled.
Industry urges rapid action on reforms as Solvency II and future of regulation reviews close
Following "data not dates" means there is no need to delay regulatory reforms where there is common ground, experts told the audience at the Association of British Insurers’ annual conference yesterday alongside calls for the watchdogs to have a…
Interview: Rob Gibbs, RSA
Having worked at RSA for more than two decades, commercial managing director Rob Gibbs has certainly seen his fair share of the business, both in the UK and overseas. He speaks to Jonathan Swift about his latest challenge, navigating a newly combined…
Vital that valid BI claims are settled quickly after test case, ABI chair Jon Dye tells insurers
The dispute over business interruption cover has undoubtedly been difficult and most people will have only seen one set of headlines about the insurance industry during the pandemic, Allianz UK CEO and Association of British Insurers chair Jon Dye told…
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
Fully Comp: One month on, how much clarity has the Supreme Court BI ruling actually brought?
For the twelfth episode of Post’s video series we gathered a group of experts together to consider the ruling in the Financial Conduct Authority business interruption test case.
Hiscox Action Group warns insurers may seek to ‘read down’ BI ruling
Insurers have responded to draft declarations regarding the Supreme Court’s January business interruption ruling, with the Hiscox Action Group flagging concerns that they may seek to “read down” the judgment.
Kingfisher refutes 'bad faith' dismissals accusation in High Court case
Kingfisher has responded to claims by the sellers of Fresh Insurance that it exited key directors in “bad faith” in a further filing at the High Court.
For the Record: Jensten moves closer to £500m target; Laka unveils European HQ; start-up Mosaic opens for business and SRG acquires again
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Eldon and Leave EU appeals in ICO case dismissed by Upper Tribunal
Three judges in the Upper Tribunal Administrative Appeals Chamber have dismissed all five appeals made by Leave EU and Arron Banks’ Eldon Insurance Services (now known as Somerset Bridge) in a case with the Information Commissioner’s Office.
PI firms and insurers clash on direct pre-medical offers
Solicitors have called for more regulation around insurers contacting claimants that have legal representation with pre-medical offers, as law firms allege that claimants may be missing out on higher compensation awards.
Analysis: More uncertainty for BI policyholders over losses beyond first lockdown
Many business interruption policyholders may only be able to claim for losses suffered during last year’s first coronavirus lockdown, with cover for subsequent losses depending on factors such as the wordings of their policies and their renewal date.
For the record: Ardonagh swoops for PI broker; ERS in ILS push; First 4 Lawyers launches RTA law firm; Marsh partnership and McLarens acquires
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Blog: From small acorns - brokers need to heed the pandemic start-up boom
The impact of an unstable 2020 is not completely bleak, with an increase in the number of UK start-ups since the pandemic began. Oliver Leyens, a director at Heath Crawford, argues brokers need to highlight the benefit of an advised sale to make sure…
Willis Towers Watson’s Garret Gaughan on reputational risk
Garret Gaughan, head of the global markets property and casualty hub at Willis Towers Watson, analyses the challenges around reputational risk and the growing focus by businesses on the potential pitfalls and actions needed.
Committee calls for government PI scheme for fire risk assessors
The government faces calls to act as an insurer of last resort for fire safety engineers’ professional indemnity insurance.