Commercial
Blog: Forewarned is forearmed - From Tianjin to Beirut and where next?
On 4 August, a massive explosion devastated the city of Beirut. DAC Beachcroft partner and London Forum of Insurance Lawyers member Toby Vallance and DAC Beachcroft solicitor Michael McMillen consider the marine impact of the blast and whether lessons…
Theo Butt replaces Paul Brand as Convex Insurance UK CEO
Convex Group has appointed Theo Butt as CEO of Convex Insurance UK and Matt Paskin as CEO of Bermuda-based Convex Re replacing co-founder Paul Brand who remains with the business as group deputy CEO.
Briefing: The search for clarity continues after the BI ruling
It is important not to lose sight of what is at stake for the policyholders after the landmark ruling in the business interruption insurance test case this week.
Analysis: A year on from damning report and little progress to show on child abuse claims
A year ago the Independent Inquiry into Child Sexual Abuse released a report slamming the claims process as it stands and making a raft of recommendations. Post investigates the progress made since then.
QBE group action woos dentists after BI judgment
Mishcon de Reya is encouraging dental businesses to join its action group against QBE following the High Court verdict in the Financial Conduct Authority’s business interruption test case.
Ex-Jelf boss Alway and former Aston Scott owner buy RWA
Alex Alway and Andrew Scott have teamed up to form UKGI Group and have bought compliance consultancy firm RWA, Post can reveal.
GRP makes first purchase in Republic of Ireland with Crotty Insurance Brokers
Global Risk Partners has made its first purchase in the Republic of Ireland taking a majority stake in Crotty Insurance Brokers, Post can reveal.
Insurer shares climb despite BI payout predictions
Some of the Insurers involved in the Financial Conduct Authority’s business interruption test case saw share prices increase following the verdict, despite participants being told to pay out for some claims.
Blog: Covid-19 is no Black Swan
Rather than focusing on hindsight and a fatalistic approach to risk, pursuing a more forward-looking, proactive strategy will improve resilience when, not if, the next crisis strikes, writes Hélène Galy, director of the Willis Research Network.
Zurich says its BI wordings not triggered in FCA test case
Zurich policies under scrutiny in the Financial Conduct Authority’s business interruption test case are not expected to pay out, the insurer has confirmed in an update.
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.