Articles by Harry Curtis
High Court approval of Lloyd's EEA transfer not a foregone conclusion
High Court approval of Lloyd’s proposed transfer of European policies to its Brussels subsidiary is not assured, according to an expert with experience of portfolio transfers.
Davies’ captive management arm grows US presence and eyes European expansion
Davies Group is scoping out expanding its captive management presence to Guernsey or Malta, after expanding its US capabilities with the acquisition of Citadel Risk’s captive management business last week.
FSCS appoints three NEDs including former cabinet minister Nicky Morgan
The Financial Services Compensation Scheme has appointed former cabinet minister Baroness Nicky Morgan, former Aviva executive Cathryn Riley, and police and fire services inspector Wendy Williams as non-executive directors.
600 jobs at risk as LV commences L&G integration
LV General Insurance has started the clock on a two-and-a-half-year integration of Legal & General’s general insurance business that is expected to impact 14% of jobs across the two Allianz businesses.
Travel insurance policies purchased in recent months unlikely to cover Spain cancellation claims
Holidaymakers cancelling trips to Spain in light of the updated travel guidance issued over the weekend are unlikely to find cover under their travel insurance if they purchased policies after mid-March.
Global health agencies to fund Lloyd's Covid-19 vaccine transport syndicate
Lloyd’s has granted in-principle approval to a syndicate to insure the storage and transportation of a Covid-19 vaccine to emerging economies once one is developed.
Lloyd’s transfer of EEA policies to go down to the wire after hearing delay
The effective date for the Part VII scheme that will transfer Lloyd’s European policies to its subsidiary in Brussels has been pushed back to 30 December following a delay to the final court hearing in the process.
Beazley post $13.8m half-year loss amid pandemic claims surge
Beazley has posted a pre-tax loss of $13.8m (£10.8m) for the first half of 2020 after seeing claims surge for its contingency and property divisions amid the Covid-19 pandemic.
Action group brands insurers' focus on lack of specific pandemic cover 'a diversionary tactic'
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
Genworth to pay Axa estimated £624m under PPI mis-selling settlement
US insurance group Genworth Financial has agreed a £624m settlement with Axa, bringing to a close a lawsuit over payment protection insurance mis-selling losses.
180 years: Hurricanes in history
PREMIUM: The insurance industry has suffered very large losses from natural disasters over the past two centuries and this still remains a problem today, with 409 natural catastrophe events totaling $232bn in losses in 2019. Post looks at some of the…
ABI and Biba tout 'postive impact' of voluntary action on dual pricing
Voluntary initiatives launched in 2018 to address dual pricing are “having a positive impact”, the Association of British Insurers has claimed amid suggestions that the industry needs to go further and do so quickly.
Restaurants that changed to takeaways under lockdown not 'same insured business' argues FCA
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers…
Lloyd's syndicates pitch £11bn growth as Neal demands profitability first
Lloyd’s syndicates’ plans for 2021 include £11bn of fresh business, but some will be told that they must continue to focus on performance over growth as the market looks to “finish the job” it embarked on 2018 of turning around its profitability woes.
Direct Line acquires insurtech Brolly
Direct Line Group has agreed to acquire personal lines insurtech firm Brolly in a conditional transaction expected to close during the third quarter of 2020.
Arch tells policyholders BI payments could be 'reduced to zero' if they wait for court judgment
Arch policyholders whose business interruption claims were confirmed to be covered by the insurer have been told that their payments could be “reduced to zero” depending on the outcome of the Financial Conduct Authority's test case.
Decreasing claims from older collapses outweigh costs of recent failures to the FSCS
The cost of compensating customers of failed general insurance companies through the Financial Services Compensation Scheme fell 14% to £146.4m in the year to 31 March 2020.
CMA uncovers PPI breaches at Cardif Pinnacle, Lloyds and Nationwide
The Competition and Markets Authority has again appealed for the power to impose financial penalties on businesses that breach payment protection insurance regulations, after breaches were uncovered at Cardif Pinnacle, Lloyds Banking Group and Nationwide.
Bob Darling to step down as Jensten Group CEO
Bob Darling is to step down as CEO of Jensten Group on 5 August and will be succeeded by Alistair Hardie, who is currently CEO of Charles Taylor’s assistance and specialist claims management business.
Andy Graham joins Direct Insurance Group from Cobra
Direct Insurance Group has appointed Andy Graham as head of specialist liability for its London market and Lloyd’s broking division.
RSA walks back on Marsh criticism in FCA's BI test case
As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…
Online delegated authority capacity marketplace aims to slash transaction times
Capacity Place, an online marketplace for insurance programme capacity launched last week, could “massively shorten” the amount of time it takes to initiate and complete programme transactions, according to its CEO Marco Del Carlo.
Q&A: Tony Russell, Charles Taylor Insuretech
Tony Russell, chief commercial officer at Charles Taylor Insuretech, spoke to Harry Curtis about how insurance companies are upgrading their technology in London and overseas, the changing dynamics in the world of insurtech, and lessons from the…
Hiscox Action Group seeks 'limited' role in FCA BI test case
The Hiscox Action Group is seeking a “limited” role alongside the Financial Conduct Authority in the business interruption test case slated to be heard by the High Court in July.