On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
Great Lakes faces calls to pay out on wedding insurance after message on UK General-owned Weddingplan’s website suggested policyholders would be entitled to claim as long as cover was purchased pre-lockdown in ‘a particular area’.
While average car insurance premiums fell 5% in the second quarter of 2020, deeper analysis reveals more is going on beneath the surface as Willis Towers Watson and Confused warn of future pricing “uncertainty.”
If Ecclesiastical CEO Mark Hews is sorry for how the insurer has handled non-recent child sexual abuse claims, should he not be addressing the victims rather than shareholders?
Insurers should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
The business interruption policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the regulator has…
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
The Flood Re scheme incurred gross claims of £160m in 2019/20, more than the total paid in its first three years of existence.
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
Craig Thornton, general insurance and protection director for Lloyds Banking Group, succeeds former Ageas UK CEO Andy Watson as chair of the Association of British Insurers’ General Insurance Council.
Danish unrated insurer Gefion will enter solvent liquidation as the Danish regulator has chosen to withdraw its license, the insurer has said.
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
The Ardonagh Group has launched a $500m (£401m) notes offering, having agreed the purchase of Bravo Group and Arachas.
Rory O’Connor, former executive director and chief financial officer of RSA Ireland Insurance, has been fined €70,000 and disqualified for eight years and four months by the Central Bank of Ireland.
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
The Financial Conduct Authority has today denied there is any conflict of interest in relation to the law firm engaged on its business interruption test case.