News
Hospitality group advised by Mishcon de Reya plots action against insurers
Axa, China Taiping, RSA, Touchstone and Zurich have been named as potential group action targets by a hospitality business interruption action group.
Markel blames Covid-19 as it swings to $1.4bn Q1 loss
Markel has posted a $1.4bn (£1.13bn) loss for the first quarter of 2020 blaming “significant volatility in the equity markets” due to the coronavirus pandemic.
Hiscox mulls capital raise
Hiscox has this morning confirmed it is considering raising equity among other options as it seeks to combat the Covid-19 impact.
ABI's Huw Evans talks Pandemic Re possibilities
Market discussions around Pandemic Re options are crucial and serve a "noble purpose", Huw Evans director general of the Association of British Insurers told Post, as he confirmed the trade body is in discussion with Lloyd's and anticipates an invitation…
ABI and Acso publish principles to support PI claims during coronavirus
The Association of Consumer Support Organisations and the Association of British Insurers have set a number of voluntary principles for insurers and law firms to follow to enable the timely resolution of disputes during the ongoing coronavirus crisis.
Crawford names incoming global CEO and president
Crawford president and global CEO Harsha Agadi will step down next month, with his successors chosen from within the company.
British Insurance Awards 2020: Shortlist Revealed
Let the good times [toilet] roll, it's British Insurance Awards shortlist time.
Blog: Aon’s plan to slash pay, preserve dividend leaves a sour taste
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.
Insurers praised for postponements on unoccupied premises clauses
As many businesses hit one month out of their offices and workplaces insurers have been praised for their response to unoccupied premises clauses in buildings insurance.
MP urges insurers to do more as public 'very, very angry' over BI payouts
Exclusive: The insurance industry is heading towards “considerable damage” to its public standing due to its handling of business interruption insurance claims during the ongoing coronavirus crisis, Jonathan Edwards MP has warned.
Admiral ploughs on with year end shareholder dividend
Admiral confirmed it will recommend a final dividend for the year to shareholders, as it suspended a special dividend.
British insurers expect £900m in coronavirus BI claim payouts
Insurers are expecting to payout £900m towards UK business interruption claims, latest figures from the Association of British Insurers show.
Former Swiss Re CEO Stefan Lippe dies following Covid-19 complications
Former Swiss Re group CEO Stefan Lippe, who led the reinsurer between 2009 and 2012, passed away aged 65 earlier this week following complications after contracting coronavirus.
This week: The gathering of the clouds
As insurers are fond of saying, every claim is an opportunity to show their customers the value of what they get for forking out their premiums.
Reinsurers' annual Monte Carlo conference cancelled
The Rendez-Vous de Septembre, the reinsurance market’s annual conclave in Monte Carlo, will not go ahead in 2020 due to uncertainty over the ongoing coronavirus pandemic.
Coverys appoints Forster as director of underwriting
Coverys Managing Agency has appointed Robert Forster as director of underwriting with effect from June, replacing Phil Sloan who is retiring from the position.
Ombudsman responds to loss adjuster calls to fast track Covid-19 BI test case
The Financial Ombudsman Service is prepared to progress a Covid-19 related complaint about business interruption cover as “quickly as possible” to help provide guidance to insurers and the growing number of disgruntled SME policyholders about what is -…
Insurance risks damaging reputation 'for a decade' warns dispute expert
The insurance industry should work with government to avoid legal actions against insurers over rejected coronavirus claims that could decimate its reputation “for a decade,” claims dispute expert Roger Flaxman of Flaxman Partners has said.
Insurance Covid-Cast - episode five: Could the FOS be key to help bring clarity and nix growing number of SME BI complaints
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss the ongoing confusion around business interruption cover, and what is needed to bring some…
Hastings chair Hoffman to exit
Gary Hoffman, Hastings non-executive chair, will step down from the company next month.
Personal injury coronavirus protocol time frame extended
The personal injury protocol calling for solicitors and insurers to work together to mitigate the impact of the Covid-19 outbreak and protect access to justice will now remain in place for at least an extra four weeks.
Hiscox Action Group appoints top City law firm as it surpasses 200 members
The Hiscox Action Group, which now represents more than 200 claimants, has appointed City law firm Mishcon de Reya to handle its case.
McLarens adds Baldwin from Sedgwick as executive director
McLarens has appointed Neil Baldwin as executive director at its UK and Ireland business, replacing Nigel Clarke.
Markel told to pay £16m damages in Braganza test dispute
A judge has ruled against Markel and ordered it to pay damages of £16m in a long-running dispute with lender UK Acorn Finance.