As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…
Insurers have been accused of "dragging feet" in the Financial Conduct Authority's business interruption test case, as they sought additional hearing time in September to debate on the regulator's use of an analysis by the University of Cambridge to…
Groups formed against Hiscox and QBE will “closely liaise” with the Financial Conduct Authority but are not permitted to increase the scope of the test case.
There have always been points of conflict in the insurer and broker relationship but this week that reached a new low as RSA offered up Marsh as a human shield in its battle to avoid payment of business interruption claims for the Covid-19 pandemic.
The Financial Conduct Authority’s test case showdown, in which it is representing the interests of approximately 8500 business interruption policyholders against a sample of eight insurers, is set to begin in court on 20 July. Post showcases the key…
The eight insurers involved in the Financial Conduct Authority’s business interruption test case have filed their defences with the court, alleging among other arguments that the pandemic is a global issue rather than local and therefore not covered.
As preparations continue for a July test case to determine whether business interruption policies cover coronavirus lockdown losses, Post delves into the “representative sample” of wordings on which the court will be adjudicating.
Briefing: EC3's 'Plantation Place' – Insurers back renaming as London’s Square Mile faces up to slavery links
When the Black Lives Matters movement blew up in the UK following the death of George Floyd in Minnesota I wondered how long it would take before the insurance sector came under the spotlight.
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
Insurers' intent with regards pandemics 'not relevant or admissible', FCA will argue in High Court test case
Insurers’ contentions that wordings in business interruption policies are not designed to and do not provide cover in the event of pandemics will be disputed by the Financial Conduct Authority when it brings a test case before the High Court next month.
The Financial Conduct Authority has received 105 letters from MPs concerned about business interruption insurance, 51 relating to RSA’s Cottagesure policies, according a representative of the regulator, who revealed several key stats in his witness…
Insurers have been accused of mis-steps in claims handling on four counts by brokers, according to a witness statement from Financial Conduct Authority director of general insurance and conduct specialists Matthew Brewis.
Arch Insurance International has appointed Simon Williams as active underwriter of Syndicate 1955 and confirmed David Slade as deputy active underwriter after the parent company’s takeover of Barbican.
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
Eight insurers will participate in a High Court test case being prepared by the Financial Conduct Authority to rule on whether the wordings of business interruption policies provide cover to businesses hit by the coronavirus pandemic.
RSA has appointed Ardonagh’s Paul Dilley as UK and international chief underwriting officer replacing Adrian Sweeney who is emigrating to New Zealand.
Analysis: What will the legacy of Covid 19 mean for the future of work as insurance staff migrate from the office to home?
Insurers might be closing their offices in the face of Covid 19, but they are quick to reassure everyone that it is business-as-usual. Jonathan Swift looks at what insurers are doing in the face of unprecedented upheaval and what the legacy might be when…
The use of cryptocurrencies continues to grow with investors increasingly regarding them as another asset class, while an increasing number of companies and countries now accept them as valid forms of currency
Managing general agent Optio has bought specialist political-violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum.
Arch Insurance has made Stuart Danskin director of underwriting for its UK regional division, which was formed at the start of this year.
In this month’s issue Post published the annual top 100 Insurers, a list of the UK's biggest insurers ranked by non-life gross premium written in 2018, in association with AM Best.
Arch Insurance-backed managing general agent start-up Archipelago Risk Insurance has announced that after a six month “pilot” it is ready to open the doors in a “controlled way”.
Arch Capital has agreed to buy Lloyd’s insurance group Barbican.
Former AIG boss Jacqueline McNamee’s insurtech C-Quence has gone live with its underwriting platform.