The Financial Conduct Authority has publicly censured Aviva for a 2018 announcement that the regulator found “had the potential to mislead the market”.
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.
RSA’s appeal of the High Court business interruption test case ruling only covers two policies, court documents have revealed, and does not include the Marsh/Jelf resilience (RSA4) wording shared by multiple insurers.
Deputy Judge of the High Court Richard Salter QC has ruled in favour of Allianz in a business interruption and property damage legal dispute decision which he accepted may be “of consequence for other potential claimants” and “something of a footnote” to…
Local lockdowns raise new questions about business interruption claims, particularly for the sector most affected by the latest measures: the hospitality industry. Forum of Insurance Lawyers members Laura McMillan, insurance and risk partner at Brodies,…
The High Court has put structural defects specialist East West Insurance Company, which purchased a portfolio from Zurich in 2018, into administration and appointed Ernst & Young as administrators.
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.
Brightside’s Brendan McCafferty on why the insurance industry needs to get real on its social contract
The insurance industry needs to find the right answers quickly if it is going to rebuild its reputation with the public, particularly after the recent business interruption court case and dual pricing headlines, says Brightside CEO Brendan McCafferty.
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.
During Friday’s business interruption hearing, the court rejected an eleventh hour application by insurer QIC Europe Limited to intervene in the Financial Conduct Authority's test case.
I’m a firm believer that even when you are facing your darkest days things will be better on the other side and good things will always follow.
The 100 largest UK-regulated insurers reported a combined underwriting profit in 2019, albeit lower than in 2018. Bond yields fell in 2019, however, investment earnings benefited from the strong performance of equity markets. How will the impact of the…
The Financial Conduct Authority and seven out of the eight insurers involved in the regulator’s business interruption test case have filed applications to ‘leapfrog’ an appeal of the High Court judgment handed down earlier this month to the Supreme Court.
John Glen MP, economic secretary to HM Treasury, has rebuked insurers deducting government grants from business interruption claims payments and warned of further action.
The Financial Conduct Authority has estimated it will cost the insurance sector £1.06bn over 10 years to comply with its package of measures designed to tackle dual pricing in the general insurance market.
Next year’s dual pricing ban will force price comparison websites to adapt if they are to stay relevant, experts have warned.
Charles Randell, chair of the Financial Conduct Authority has criticised Google and other social media and technology firms over the continuing proliferation of scams.
Last week the High Court found in favour of the Financial Conduct Authority on key issues in the business interruption test case. Post seeks to find out how the market feels about this.
Insurers that do not pay claims swiftly and choose to appeal following the judgment in the Financial Conduct Authority’s business insurance test case could end up paying out more under the Enterprise Act, lawyers have cautioned.
The Financial Conduct Authority has proposed banning retail motor and home insurance dual pricing in a package of measures designed to enhance competition, give fair value to customers and increase trust.
Managing general agents and coverholder brokers remain optimistic about the sector’s prospects despite warnings from lawyers on the implications of the recent business interruption court case.
It is important not to lose sight of what is at stake for the policyholders after the landmark ruling in the business interruption insurance test case this week.
Mishcon de Reya is encouraging dental businesses to join its action group against QBE following the High Court verdict in the Financial Conduct Authority’s business interruption test case.
QBE has predicted that it faces a $70m (£54.3m) hit net of reinsurance for business interruption claims in the UK after the court ruling yesterday on the BI test case.