Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
For the record: Chubb bids $23bn for rival; Amazon to sell SME insurance; RAC launches pay per mile cover and London team swaps AFL for SRG
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Insurers have responded to draft declarations regarding the Supreme Court’s January business interruption ruling, with the Hiscox Action Group flagging concerns that they may seek to “read down” the judgment.
Many business interruption policyholders may only be able to claim for losses suffered during last year’s first coronavirus lockdown, with cover for subsequent losses depending on factors such as the wordings of their policies and their renewal date.
For the Record: BGL rolls out digital claims, Chubb backs Covid-19 cover, Covea in Vitality tie-up, insurtech funding hits £5.2bn and Tractable deals
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Frustrated policyholders call for insurers to ‘take responsibility’ after Supreme Court rules many are due payouts
Policyholders and their representatives have called for insurers to “take responsibility” and “immediately start paying claims” in the wake of a bittersweet Supreme Court judgment on disputed coronavirus-related business interruption policies.
The emergence of a cluster of start up and scale up carriers, or a class of 2020, caught analysts by surprise despite the hardening market.
The Supreme Court has substantially found in favour of the Financial Conduct Authority in the final stage of the Covid-19 business interruption test case. Post highlights key points given among the reasons behind the ruling.
Free content: Access market and insurance reactions to the Supreme Court ruling that dismissed appeals against a High Court judgment on insurers paying out in Covid-related disruption on business interruption insurance policies and overturned the Orient…
Updated: On Friday 15 January the Supreme Court will return a verdict on appeals in the Financial Conduct Authority’s business interruption test case.
The Supreme Court will issue its ruling today in the Covid-19 business interruption legal case with up to 370,000 policyholders and their insurers awaiting the outcome.
The Supreme Court is expected to hand down its judgment in the business interruption test case appeal on Friday 15 January, the Financial Conduct Authority has confirmed.
Insurers and policyholders will have to wait until next year for the final outcome of the Financial Conduct Authority-led business interruption test case, according to an update from the regulator.
Post wraps up the major insurance deals of the week.
Hiscox had pandemic possibility 'well in mind' when it drafted BI policies, action group tells Supreme Court
The Hiscox Action Group has responded and opened its appeal as part of the Supreme Court hearing on the business interruption test case.
The Financial Conduct Authority’s counsel today likened the spread of coronavirus to the Great Storm of 1987, appearing in front of the Supreme Court for the third day of the business interruption test case appeal.
Insurer defendants and the Financial Conduct Authority set out their starkly differing views on the use of trends clauses on day two of the ongoing business interruption test case hearing at the Supreme Court.
The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on Monday as insurers began their appeal of the September judgment handed down in the Financial Conduct Authority’s business interruption test case.
As the search for lesser-spotted clarity continues, simple confirmation from the regulator on which business interruption wordings are being contested, and by who, is a welcome aid.
The Supreme Court will start hearing the appeals of six insurers, the Hiscox Action Group and the Financial Conduct Authority in the ongoing Covid-19 business interruption test case on Monday 16 November, the FCA has confirmed.
Apollo ruled out further dealings on Adani projects as climate campaigners hit Lloyd’s insurer CEOs with calendar invites and targeted companies on social media.
The world is devoting a lot of energy into finding a vaccine or ‘cure’ for Covid-19. We should know by now that false hope is not an antidote.
The business interruption test case is meant to be about co-operation to find clarity. Qatar Insurance Company’s attempt to intervene has rocked the boat.
Six insurers and the Financial Conduct Authority have been granted permission to fast-track an appeal of last month’s business interruption test case judgment to the Supreme Court.