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…
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.
In this month’s column, David Worsfold looks at insurance past, present and future in light of the pandemic and the recent Black Lives Matter protests.
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.
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?
Supreme Court dismisses hull underwriters' attempt to recover $22m paid out for deliberately sunken ship
The Supreme Court has dismissed an attempt led by Aspen to recover $22m paid out by hull underwriters following the sinking of a ship in 2013 that was later ruled to have been deliberate.
What a week. The coronavirus may be an invisible threat, but its fallout – both within and beyond the insurance industry – is hard to miss.
Aspen Insurance has reported an operating loss after tax of $48.4m (£39.7m), which it says is driven by costs relating to the acquisition of the company by Apollo Global Management, restructuring costs, reserve strengthening, unrealised investment losses…
Insurtech start-up Collective Benefits has closed a £3.3m seed funding round involving Stride VC alongside existing investors Delin Ventures and Insurtech Gateway.
Within insurance, it’s managing general agents seeing all the deals, attracting the money and the talent. The potential for big profits and lower costs drives the sector forward, but will the sector gather yet more momentum or will it overheat?
Cyber has been long-touted as offering insurers and brokers a huge opportunity in commercial lines – from SMEs to corporates. But as individual consumers become ever more aware of their vulnerability to data breaches and cyber attacks, an equally large…
The FCA continues to be concerned about the problems faced by vulnerable customers. The regulator is expected to soon unveil a consultation to provide clarity on expectations of firms. Experienced claims handlers will play a key role in helping insurers…
At the Monte Carlo annual rendezvous this week, Lloyd’s chairman Bruce Carnegie-Brown said the corporation was ready to “hang” perpetrators of bad behaviour after its culture survey revealed some “sobering” results.
Clive Edwards will become CEO of Aspen UK and Aspen Managing Agency.
This week, along with the rest of the team, I attended the British Insurance Brokers’ Association conference. I knew it would be an action-packed week - but nothing could prepare me for what was ahead.
Aspen has cut loose its UK SME managing general agent, with 111 jobs on the line as a result.
Aspen’s chairman Glyn Jones and group CEO Chris O’Kane have stepped down, with the completion of Apollo’s acquisition of the Lloyd’s insurer.
Former Aspen UK chief financial officer, Jonathan Price has been appointed CFO of Ageas UK.
Exclusive: The Chartered Insurance Institute has launched a dedicated professional body for people who work in claims.
Thousands of insurance transactions happen over the web every day but with recent Google updates are insurers website as secure as they could be asks Mike Still, chairman of Trustify and of Business in the Community’s Business Emergency Resilience Group.
Brit executive chairman Mark Cloutier is leaving the Lloyd’s insurer, to become CEO and chairman of Aspen
Start-up Hokodo will work with Scor Global’s Channel Syndicate on an SME invoice protection product.
Ratings agency Moody's has affirmed Aspen's rating following its $2.6bn (£2bn) deal with Apollo, while AM Best has placed it under review.
Aspen Insurance has entered an agreement with investment manager Apollo that will see it sell all remaining shares in the business for $42.75 (£33.15) per share, a total of $2.6bn (£2bn).