News
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.
Insurance Covid-Cast - episode four: How insurance companies are rising up to help communities and keep society open during the Coronavirus crisis
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 how insurance companies are seeking to make a difference within local communities during…
Ex-XL Catlin boss Paul Jardine joins Chaucer as non-exec chairman
Chaucer has appointed Paul Jardine as non-executive chairman succeeding Chris Stooke who will retire from the board later this year.
Nightlife trade body to coordinate claims against Hiscox on BI
The Night Time Industries Association has sought legal counsel on its members' rights on refused business interruption policies.
Analysis: Policyholders band together as BI group actions mount
Ecclesiastical, Hiscox, QBE and RSA could all face class actions from businesses that have had claims for losses from coronavirus-related closures rejected as policyholders group together and brokers also come under fire.
90 nurseries mull legal action against Ecclesiastical and broker over BI cover
A group of 90 daycare nurseries are considering a legal challenge against both their insurer and broker, Ecclesiastical and Pound Gates respectively, following rejected business interruption claims, Post can reveal.
Politicians call for motor insurers to refund policyholders
Members of Parliament have called for insurers to refund motorists based on coronavirus lockdown savings, following Admiral's pledged £25 per customer rebate yesterday.
Beazley and Chubb reveal Q1 coronavirus hits
Beazley has reported a $170m (£137.7m) impact from Covid-19 related claims while Chubb took $13m of pre-tax $13m losses in the first quarter of the year.
RSA faces group action over disputed Cottagesure BI wording
RSA faces a legal challenge from a group of 50 businesses which had claims rejected for losses sustained due to Covid-19-related closures, Post has learned.
MP calls on government to force insurers to use dividends to pay coronavirus claims
Plaid Cymru MP Jonathan Edwards has tabled an Early Day Motion calling on the government to instruct insurers to put their dividends towards settling insurance claims resulting from the Covid-19 pandemic.
Hiscox confirms $175m coronavirus claims hit
Hiscox has confirmed it expects to pay net claims of $150m (£121.6m) due to the coronavirus crisis with the potential for another $25m if the current restrictions on “mass gatherings” are extended beyond six months.
Brokers warned that pandemic crisis will trigger rise in PI cases
Brokers and industry specialists are expecting to see a spike in claims against broker professional indemnity policies as a result of the ongoing coronavirus pandemic.