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.
Lloyd’s has received final approval from the High Court to transfer policies covering risks and policyholders in the European Economic Area to its Belgian subsidiary, Lloyd’s Europe.
Insurance companies must ensure they are “purpose-led” in order to restore the sector’s reputation, Blueprint for Better Business CEO Chris Wookey told members of the Worshipful Company of Insurers last week.
Lloyd’s is set to learn whether or not the High Court will approve a Brexit-necessitated transfer of European policies to its Belgian subsidiary next week, following the conclusion of a two-day sanctions hearing on Thursday.
Lloyd’s could face a “lose-lose scenario” of having to choose between not paying claims or risking regulatory or criminal sanctions, if a proposed transfer of European policies to its Brussels subsidiary is not approved today.
The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on Monday as insurers began their appeal of the September judgment handed down in the Financial Conduct Authority’s business interruption test case.
Sompo’s decision, announced in April, to walk away from Lloyd’s at the end of this year was driven by the insurer’s ambitions rather than reservations about the Lloyd’s market itself, Sompo international insurance CEO Julian James has said.
Covéa and its CEO and chairman Thierry Derez have been fined €20.1m (£17.9m) by a Paris court for a breach of legal and fiduciary duties and obligations on the part of Derez in his role as a director of Scor.
Structural defects warranty insurance provider MD Insurance Services has been ordered to pay £11,700 to an employee suffering with depression who, an employment tribunal ruled, had been treated unfavourably by the company.
Zurich and Scor face an $18m (£13.7m) legal claim from consumer credit reporting company Experian, relating to a layer of excess of loss cover underwritten by the two insurers that was in place between 2015 and 2016.
Lloyd’s has revised its intention to build two electronic placement platforms as part of its programme to modernise and cut costs in the market.