Articles by Harry Curtis
Former Alpha directors sued as liquidators allege unrated insurer was insolvent a year before collapse
Two former directors of failed Danish insurer Alpha are facing a DKr200m (£22.9m) lawsuit brought by the firm’s liquidators for allegedly misrepresenting the financial condition of the company a year before its collapse in 2018.
Lloyd's CEO Neal says market must maximise underwriting returns after £887m loss
Lloyd’s must take advantage of “once in a generation trading conditions” to return an underwriting profit in 2021, CEO John Neal has said after the market posted an £887m pre-tax loss for 2020.
Analysis: Deconstructing Aviva
With a new group CEO in role, Aviva has made serious strides in offloading its overseas operations. What inspired these moves and what does this mean for its core operations in the UK, Ireland and Canada?
Aviva joins global initiative in pursuit of 2025 electric motor fleet target
Aviva has signed up to a global initiative that will require it to report annually on the progress it has made switching its motor fleet to electric vehicles, Post can reveal.
Aversion to spare capacity hurting resilience, Carnegie-Brown tells bioterrorism conference
Governments and businesses must overcome the “fundamental behavioural challenge” of building spare capacity to bolster resilience to events such as a bioterrorist attacks and future pandemics, Lloyd’s chairman Bruce Carnegie-Brown has said.
Pandemic business interruption risks uninsurable, says Scor's Kessler
Pandemic-related business interruption is “not insurable”, Scor CEO and chair Denis Kessler has said, likening the risk to that of property damage suffered during a war.
Weddingplan claims being paid following Supreme Court BI ruling
Some claims on wedding insurance policies sold by managing general agent UK General that were initially rejected are now being paid with policyholders also receiving compensation, Post has learned.
Government's understanding of how BI claims are calculated contains 'fundamental flaw'
The government’s understanding of insurance contracts is fundamentally flawed and endangers the chances of its expectations with respect to Covid-related business interruption claims being met, claims dispute expert Roger Flaxman has said.
PRA chief pours cold water on ABI Solvency II review hopes
Prudential Regulation Authority CEO Sam Woods has sought to temper expectations that the ongoing review of Solvency II will free up significant amounts of capital held by the UK insurance sector.
BI claims deductions should not leave businesses at 'an overall financial disadvantage', says HMT
Exclusive: Insurers should not make deductions from business interruption claims because insureds received government support during the pandemic if doing so leaves businesses at “an overall financial disadvantage”, the Economic Secretary to the Treasury…
Sabre top line suffers as motor insurer pushes through 10% price increases in 2020
Sabre CEO Geoff Carter has defended the insurer’s falling profits and premiums, saying that pricing increases pursued throughout 2020 stand it in good stead to take advantage of growth opportunities going forwards.
Hiscox under fire from photographers for 'intolerable' BI claims delays
Photographers have criticised Hiscox for the way in which the insurer has handled lockdown-related business interruption claims, with the head of a professional association calling the continued delay of settlements "intolerable".
FOS CEO Caroline Wayman to step down in April
Caroline Wayman, chief ombudsman and CEO of the Financial Ombudsman Service, is set to step down after seven years at the helm.
Comparison sites’ growth fortunes mixed in pandemic year
Comparison sites had mixed fortunes in terms of growth in 2020, as a third-quarter bounce-back in car insurance sales offset some, but not all, of the initial impact of Covid-19.
Analysis: The future of Lloyd's underwriting room in a 'hybrid world'
In February, Lloyd’s launched a consultation on the future of its famous underwriting room, inviting market participants to take part in “a once-in-a-generation opportunity” to shape the space going forwards.
Covid curbs drive Admiral to record profits
Admiral has posted record pre-tax profits of £638m for 2020, reaping the benefit of fewer claims as a result of quieter roads during lockdown.
PI Analysis: Pandemic pushes cover down technology firms' to-do lists
Professional indemnity insurance may have slipped down the shopping list of some IT and technology companies, but firms that do take out cover are finding the type of policy limits they are used to harder to come by
'No magic bullet' to fix Covid-19 reputation hit, says Hiscox as it posts $268m loss
There is “no magic bullet” Hiscox can use to remedy the hit to its reputation suffered through the long-running disputes over business interruption cover, the insurer’s global retail CEO Ben Walter has said.
Exclusionary language around Covid-19 likely to be 'omnipresent' following 1/1 reinsurance renewals
Reinsurers sought to “tidy up” contracts during January’s renewal season, sometimes to the detriment of possible rate increases, raising questions for insurers as to how to cover excluded risks.
£77m Covid impact drives RSA UK loss
Scott Egan, RSA’s UK and international CEO, has said the division delivered a “strong” performance in 2020, despite the impact of Covid-19 bringing a halt to its return to profitability in the UK.
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.
FCA mulls timeline for dual pricing fix following consultation
The Financial Conduct Authority is reconsidering the implementation period for its dual pricing remedy proposals following consultation with the industry.
Helping leaseholders caught up in the cladding crisis in insurance sector's 'reputational interests', says Shadow Economic Secretary
The insurance industry should work to help leaseholders affected by the cladding crisis in order to service not only the national interest but its reputational interests, attendees at the Association of British Insurers’ annual conference have heard.
Exclusions will widen the expectation gap, FOS chief warns insurers
Financial Ombudsman Service CEO Caroline Wayman has cautioned insurers that adding exclusions to policies which have generated claims during the pandemic would widen the gap between policyholder expectations and the reality of their cover.