Commercial
FCA BI test case: Insurers likely to appeal - but at what cost?
Insurers have been urged to consider the “reputational damage they may suffer” before appealing the Financial Conduct Authority's business interruption test case judgment.
BI judgment welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court ruling today in the business interruption test case and those with prevention of access wordings may also find they have cover, law…
Action group courts businesses as Marsh policy predicted to pay out
The Hospitality Insurance Group Action is seeking more members, after a court ruling suggested a policy brokered by Marsh for several insurers is likely to pay out.
Ecclesiastical does not expect to pay out on BI policies following High Court ruling
Insurer Ecclesiastical has confirmed its business interruption policies are not expected to pay out following a judgment in the Financial Conduct Authority’s High Court test case.
RSA estimates £104m hit from FCA BI judgment
RSA has revealed the additional financial impact of the Financial Conduct Authority test case judgment is £104m, or £85m net of reinsurance.
Hiscox pegs Covid BI claims at ‘less than £100m’ after judgment
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
High Court finds in favour of FCA on majority of issues in BI case
The High Court has ruled that the majority of businesses that held business interruption insurance and were forced to close could be entitled to be compensated by the insurers involved in the test case, subject to appeal.
Blog: The issues under contention in the FCA's BI test case
The Covid-19 pandemic has caused devastating losses for many businesses, with SMEs in the retail and hospitality sector being particularly hard hit. The extent to which these losses fall to be covered by business interruption insurance policies is the…
Covid 'uncertainty' to complicate January reinsurance renewals: Guy Carpenter
Total Covid-19 losses remain an unknown, leading to greater complexities and individual approaches at 1 January reinsurance renewals, Guy Carpenter has cautioned.
Brit names Mark Allan as Lloyd’s syndicate Ki CEO
Brit has appointed Mark Allan as CEO of Ki, its digital and algorithmically-driven Lloyd’s of London syndicate launched in collaboration with Google Cloud this May.
Briefing: FCA BI test case result no panacea
On 15 September the judges in the Financial Conduct Authority’s business interruption test case will hand down their judgment. But this will not mark the end of the struggle between insurers and customers.
Analysis: Local lockdowns - the insurance impact
After relaxing the national lockdown, the government imposed local restrictions to control the spread of the Covid-19 virus. Post investigates what implications these local lockdowns have for insurance.
Analysis: How Covid crashed the wedding market
Events were cancelled across the board this year due to Covid-19 but none could be much more emotive than the thousands of weddings that couldn’t go ahead. Post investigates how the insurance market responded.
Aston Lark buys Brunel Professions
Aston Lark has bought professional indemnity specialist Brunel Professions, Post can reveal.
Qlaims adds Liz Latter as CCO after Mike Keating exit
Qlaims has appointed Liz Latter as chief commercial officer following Mike Keating’s departure to take up the post of managing director of the Managing General Agents’ Association.
FCA BI test case judgment expected Tuesday
The judgment in the Financial Conduct Authority’s business interruption test case, in which the regulator is representing policyholders against insurers, is expected Tuesday 15 September.
Blog: Why sprinklers should be mandatory in schools
Schools have a fire risk almost twice as high as other non-residential buildings, yet are poorly equipped to prevent a fire becoming a major disaster, according to new research by Zurich. Tilden Watson, Zurich Municipal head of education, explains why…
Briefing: Do Revolut and Lloyds Bank moves signal a bancassurance renaissance?
The model of banks with in-house general insurance divisions, or bancassurance, has thrived elsewhere in Europe but failed to pick up the pace in the UK. Is this about to change?
FOS receives 'handful' of broker business interruption complaints
Exclusive: The Financial Ombudsman Service told Post it has so far seen a “handful” of business interruption complaints about brokers, as policyholders await the results of the Financial Conduct Authority’s High Court test case.
Q&A: Andy Anderson and Glen Donaldson, Questgates
Recently appointed unit manager for Questgates’ new public transport claims division Andy Anderson and divisional director of specialist services Glen Donaldson, spoke to Post about plans, challenges in the industry and the Scottish train derailment near…
DRP unveils grossing up and pay gap bonus allegations in Jelf legal wrangle
David Roberts & Partners has denied the client and team poaching claims by Jelf in a High Court case and accused the Marsh-owned business of having a "toxic" work atmosphere and grossing up premiums, while a counterclaim from one defendant alleged human…
Jelf slams DRP response in 'unlawful conspiracy' poaching legal battle
A filing by Jelf has slammed DRP’s defence and counterclaim allegations for including “much irrelevant and often inaccurate information, seemingly included for perceived prejudicial value” and addressed the accusations of grossing up premiums and gender…
Former branch director sues Jelf for invasion of privacy over Facebook messages
Jason Lauchlan, a former branch director of Jelf’s Malton office, is seeking compensation for what he alleges was an “unlawful” breach of his privacy after Jelf obtained and shared Facebook messages between him and another former employee.
Munich Re calls for governments to back mandatory BI risk pools
Munich Re has called for government-backed risk pools to be created to insure against the effects of future pandemics.