The industry must address the expectation gap on the back of the Supreme Court business interruption ruling, brokers said as they forecast tougher times ahead for managing general agents.
The Supreme Court’s ruling in favour of the Financial Conduct Authority on behalf of policyholders in the cases versus insurers over Covid-19 business interruption claims will have long-term ramifications for causation and trends clauses, according to…
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.
Hiscox’s share price fell 4.5% in the immediate aftermath of the Supreme Court ruling in the Covid-19 business interruption test case.
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 Covid-19 pandemic has highlighted a split between what policyholders expect from business interruption cover and what insurers say it offers. Damian Glynn, Sedgwick International UK head of financial risks, asks whether customers are ensnared in a…
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.
The Financial Conduct Authority imposed fines of £192,570,018 in 2020, the third lowest total on record since the watchdog was formed in 2013.
The Financial Conduct Authority’s coronavirus financial resilience survey has revealed that insurance broker liquidity fell by 30% due to the pandemic, the largest drop measured in any sector.
To start 2021 we asked the major players in broking, claims and insurance to predict what the biggest event of the new year would be and what trends the first year in the next decade would bring.
Post spoke to brokers and MGAs to get their thoughts on the highs and lows of 2020
As the year draws to a close and people prepare for some long overdue down time, it’s worth pausing to reflect on the role of conduct and culture in how insurance has dealt with challenges and how they can shape responses in 2021, says Sarah Dalgarno,…
The Financial Conduct Authority has told customers who purchased cover through insolvent South West-based Professional Construction Risks Limited to contact their insurers directly to confirm the status of their policies.
Zurich UK CEO Tulsi Naidu will become the firm's Asia Pacific CEO in Singapore from 1 January 2021. She spoke to Post about her tenure in the UK, the importance of transparency and the challenges facing the market.
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.
The Financial Conduct Authority has issued a warning against a bookings software provider that marketed a cancellation insurance product to owners of UK holiday lets, following an investigation by Post.
The Financial Conduct Authority has launched a consultation on guidance to policyholders, insurers and intermediaries on how the presence of Covid-19 in a particular area may be proved for the purposes of business interruption claims.
Late on 25 November, the Prudential Regulation Authority and Financial Conduct Authority at last approved Markerstudy’s takeover of the Co-op’s underwriting business – 675 days on from when the deal was first announced.
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
Insurance providers are set to be left with a £1.4m hole from the collapse of Coventry-based Inspire Insurance Services, with the broker's total deficit estimated at £2.7m by liquidators.
Humans are not designed to cope well with uncertainty.
With Lloyd’s, London market and wholesale broker accountability drawing the regulator’s attention in recent weeks, Michael Sicsic, managing director of Sicsic Advisory and former Financial Conduct Authority head of retail general insurance supervision,…