Ecclesiastical
Insurers accused of ‘dragging feet’ as extra FCA BI September trial dates mooted
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…
Briefing: Have insurers thrown brokers under the bus on BI?
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.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
BI Case Notes: A who’s who of the FCA’s business interruption test case
Updated: The Financial Conduct Authority’s test case showdown, which the regulator has estimated could affected 370,000 policyholders, is expected to reach a climax on 15 January 2021 when the Supreme Court will rule on points of appeal.
Insurers lock horns with FCA in BI test case defences
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.
Analysis: The wordings under the magnifying glass in the FCA's BI test case
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: FCA’s business interruption test case – misreading the room
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
Insurers and FCA butt heads on pandemic spread analysis in BI case
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
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.
In numbers: The FCA’s business interruption insurance test case
Updated: 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…
Brokers flagged concerns to FCA over ‘long-term’ damage to industry due to BI claims handling
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.
Briefing: Business interruption insurance – reported ‘u-turns’ have yet to prove significant
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?
FCA BI test case gives law firms and businesses pause for thought
The Financial Conduct Authority's test case may be driving some law firms to revise their roles in slated business interruption legal battles, but lawyers argue they will still have a part to play quantifying losses and settling disputes.
FCA names eight insurers to take part in BI test case
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.
This Month: Putting the insurance industry under the microscope
This month we put the insurance industry under the microscope - looking into how much progress the Lloyd's market has made to bolster diversity and inclusion in the sector, the efforts taken to pay out business interruption claims and the industry's…
François-Xavier Boisseau reunites with Amanda Blanc at ERS
Former CEO of Ageas UK Insurance François-Xavier Boisseau has joined the board of ERS as a non executive director.
This week in Post: Aon, dó, trí
Business interruption, the British Insurance Awards shortlist and Q1 results kept us busy this week, but it was a move by biggest-broker-in-waiting Aon that grabbed the most attention.
Private schools and Marsh dispute Ecclesiastical's denial of BI cover
Ecclesiastical’s rejection of business interruption claims relating to closures caused by coronavirus is being challenged by Marsh and an association of private schools, Post has learned.
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.
Ecclesiastical's Nicholas Hartley on the broker-client relationship
In an ever-changing insurance landscape, brokers play an important role in identifying risks. For brokers, ensuring they ask their customers' the right questions will help them understand what risks they face and offer better support.
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.
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 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…