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,…
Proposed changes to the Financial Conduct Authority’s product governance rules could prove to have a greater long-term impact than the regulator’s prospective price walking ban, consumer research and compliance experts have said.
The Financial Conduct Authority has written to Lloyd’s and London Market insurers instructing them to “behave ethically and responsibly in the way they treat their customers, their employees and their counterparties” during the pandemic.
Insurance companies must ensure they are “purpose-led” in order to restore the sector’s reputation, Blueprint for Better Business CEO Chris Wookey told members of the Worshipful Company of Insurers last week.
It takes more than a Webex call to build the relationships the insurance industry thrives on, says Ross Dingwall, managing director – broker channel at Hiscox UK.
During the High Court hearing of the Financial Conduct Authority’s business interruption test case, the regulator argued that reversing the judgment in the historic Orient Express case would “restore sanity”. If the Supreme Court chooses to overrule the…
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 confusion created by the High Court’s decision in the Financial Conduct Authority's business interruption test case, with both parties claiming victory, could act as an enabler for fraudsters, according to experts speaking at Post’s Claims and Fraud…
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.
Usually a lavish affair in the Royal Albert Hall with the insurance A-listers dressed to the nines in their finery and quaffing champagne mid-July, this year due to the Covid-19 pandemic and government restrictions the British Insurance Awards ceremony…