Storm Christoph is not expected to prove as costly as other recent winter storms, with PWC predicting insured losses could hit £120m, but could set the stage for more severe flooding as soon as next month.
Covid-19-related lawsuits are set to drive a 40% increase in litigation over the coming year, with many claims management companies either already dealing with or anticipating a surge in claims.
Policymakers and business leaders need to pay greater attention to low-likelihood, high-impact risks, panellists warned at the launch of the World Economic Forum’s annual Global Risks Report on Tuesday.
Frustrated policyholders call for insurers to ‘take responsibility’ after Supreme Court rules many are due payouts
Policyholders and their representatives have called for insurers to “take responsibility” and “immediately start paying claims” in the wake of a bittersweet Supreme Court judgment on disputed coronavirus-related business interruption policies.
A lawyer representing Hiscox's business interruption policyholders has called a statement by the insurer stating that fewer than one third of its policies may pay out following this morning’s Supreme Court judgment “misleading”.
Former Liberal Democrat leader Tim Farron has called the conduct of insurers during the coronavirus pandemic “deeply depressing” and urged the Chancellor of the Exchequer to “take steps to protect insurance customers from the actions of insurers”.
Insurers and brokers have told Post that the majority of their staff will continue to work from home and that offices will remain open to those few that need to access them, following the start of a third national lockdown in England.
Road traffic accident claimants have waited over a year just for their cases to be heard in court due to backlogs exacerbated by the Covid-19 pandemic, according to an analysis of Ministry of Justice figures by Zurich.
The UK government-backed trade credit reinsurance scheme to guarantee up to £10bn of business-to-business transactions has been extended to run for the first half of 2021.
The 2020 hurricane season was unprecedented, both due to the number of storms and because it coincided with a global pandemic. Post spoke to McLarens’ Kieran Gallagher, executive director, and Dave Watts, executive adjuster and head of home foreign,…
The Financial Conduct Authority has told customers who purchased cover through insolvent South West-based Professional Construction Risks Limited to contact their insurers directly to confirm the status of their policies.
Insurers and policyholders will have to wait until next year for the final outcome of the Financial Conduct Authority-led business interruption test case, according to an update from the regulator.
An open letter asking for the UK government to underwrite a Covid-19 contingency insurance product has been described as “a last throw of the dice” to save the 2021 entertainment and sporting calendar by one of the campaign’s architects.
The Financial Conduct Authority has issued a warning against a bookings software provider that marketed a cancellation insurance product to owners of UK holiday lets, following an investigation by Post.
The Financial Conduct Authority has launched a consultation on guidance to policyholders, insurers and intermediaries on how the presence of Covid-19 in a particular area may be proved for the purposes of business interruption claims.
Late on 25 November, the Prudential Regulation Authority and Financial Conduct Authority at last approved Markerstudy’s takeover of the Co-op’s underwriting business – 675 days on from when the deal was first announced.
Insurance policies sold by Somerset Bridge through an affinity deal with Debenhams will be left by unscathed by the high street retailer’s collapse, the broker’s CEO Liz Bilney has told Post.
Sompo International’s international insurance CEO Julian James sat down for a ‘virtual chinwag’ with Harry Curtis to talk returning from retirement, the business’s Lloyd’s exit and brand ambitions, the hardening market and ‘Armageddon scenarios’.
Proposed changes to the Financial Conduct Authority’s product governance rules could prove to have a greater long-term impact than the regulator’s prospective price walking ban, consumer research and compliance experts have said.