The Rendez-Vous de Septembre, the reinsurance market’s annual conclave in Monte Carlo, will not go ahead in 2020 due to uncertainty over the ongoing coronavirus pandemic.
The insurance industry should work with government to avoid legal actions against insurers over rejected coronavirus claims that could decimate its reputation “for a decade,” claims dispute expert Roger Flaxman of Flaxman Partners has said.
The Hiscox Action Group, which now represents more than 200 claimants, has appointed City law firm Mishcon de Reya to handle its case.
Ecclesiastical, Hiscox, QBE and RSA could all face class actions from businesses that have had claims for losses from coronavirus-related closures rejected as policyholders group together and brokers also come under fire.
A group of 90 daycare nurseries are considering a legal challenge against both their insurer and broker, Ecclesiastical and Pound Gates respectively, following rejected business interruption claims, Post can reveal.
RSA faces a legal challenge from a group of 50 businesses which had claims rejected for losses sustained due to Covid-19-related closures, Post has learned.
Quieter roads have led many to assume that car insurers are in for pandemic profits. Post investigates calls for lockdown windfalls to be re-gifted to motorists.
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.
A group of businesses taking on Hiscox over rejected Covid-19-related business interruption claims has grown to over 100 firms, Post has learned.
Insurtech Sprout AI, which previously operated under the name Blockclaim, has raised $2.5m (£2m) in a second seed-funding round.
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.
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.
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.
Proposed 7.1% increase to insurers' contribution to FCA budget will add to firms' 'financial burden' in difficult times
The Financial Conduct Authority is consulting on changes to its fees and levies which would see annual contributions by general insurers and general insurance brokers increase 7.1% and 3% respectively.
The government should require e-scooter riders to buy insurance, according to a panel of experts speaking as part of Post’s Motor Insurance World Live on Wednesday.
Falling motor claims frequencies may mean insurers reconsider what they’re charging policyholders, though their ability to act proactively could be stymied by uncertainty over the length of the Covid-19 emergency, an event heard.
Sabre has delayed its special dividend to shareholders, citing the need to wait for greater clarity around the impact of coronavirus pandemic.
Former Jelf boss Phil Barton is set to return to the market as CEO of Partners &, a private-equity backed broker that brings together five broking houses operating across the South East, South West and Midlands.
Supreme Court dismisses hull underwriters' attempt to recover $22m paid out for deliberately sunken ship
The Supreme Court has dismissed an attempt led by Aspen to recover $22m paid out by hull underwriters following the sinking of a ship in 2013 that was later ruled to have been deliberate.
Lawyers remain confident the UK government won’t follow the US in mandating payouts for Covid-19 on business interruption policies after four US states tabled legislation that would require disruption caused by the coronavirus pandemic to be covered.
Investment fund CIAM has renewed its pressure on Scor ahead of the reinsurer’s annual general meeting on 17 April, calling for the firm to publish a succession plan for its CEO position.