Zurich will pay up to £25m to help policyholders of structural defects specialist East West Insurance Company, the insurer and administrators Ernst & Young have confirmed.
MCE Insurance has alleged that it tabled proposals to “immediately meet any shortfall” in the capital requirements of its Gibraltar-based insurer but these were declined by the Gibraltar Financial Services Commission ahead of the provider's collapse last…
The Financial Services Compensation Scheme has dropped its 2021/22 levy to £717m from a forecast £833m as it cancelled the predicted £116m contribution to the retail pool.
The cost of compensating customers of failed general insurance companies through the Financial Services Compensation Scheme has fallen for a second year running, with both the scheme’s GI provision and distribution classes seeing reduced payouts year-on…
The Financial Services Compensation Scheme has issued final levies for 2021/22 of £73.8m for brokers and £189.8m for insurers, down significantly on initial estimates but still up on this year’s bills.
John Glen MP, Economic Secretary to the Treasury, tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference…
Ahead of the British Insurance Brokers’ Association hosting its annual conference online for the first time ever, Post caught up with CEO Steve White to discuss what virtual attendees will see and hear about, the trade body’s ongoing lobbying and his…
The Financial Conduct Authority has published its latest fees update, with a consultation set to run into May.
Brokers have called for the insurance industry to kick back against the increase in their Financial Services Compensation Scheme levy with the sector’s bill set to more than triple to £146.8m in 2021/22.
Gibraltar-based Prometheus Insurance Company, formerly trading as Tradewise Insurance Company, has entered administration.
The administrators of Elite Insurance have disclaimed all but two after the event insurance policies underwritten by the insurer.
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
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 liquidators of Gibraltar insurer Enterprise have predicted a £31m claims hit from tax avoidance scheme Icebreaker used by Take That and other wealthy creative industries professionals, Post can reveal.
The Financial Services Compensation Scheme has appointed former cabinet minister Baroness Nicky Morgan, former Aviva executive Cathryn Riley, and police and fire services inspector Wendy Williams as non-executive directors.
The cost of compensating customers of failed general insurance companies through the Financial Services Compensation Scheme fell 14% to £146.4m in the year to 31 March 2020.
The Financial Services Compensation Scheme has appointed Fiona Kidy as chief financial officer having held the role on an interim basis since May last year.
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
As Post celebrated its 180th birthday this year we’ve looked back at how the sector and the publication have weathered changes in technology, regulation and not least two world wars.
As Post celebrates 180 years, we look at the companies that have come and then very quickly gone and ask what today's insurers can learn from them.
Exclusive: The Financial Services Compensation Scheme is working with failed insurer Gable's liquidators to understand the impact of a European Free Trade Association court judgment on recoveries, with some of the insurer's policyholders set to lose out.
General insurers will pay £8m more in Financial Services Compensation Scheme levy contributions than previously anticipated due to the recent failure of three firms.
In this month's column, David Worsfold, a long-running commentator on the insurance market, explores how the insurance industry could find itself rather lonely in its corridors of deviation after Brexit is finalised, the complexities of Covid-19 for the…
Elite’s administrators expect around £315m in unsecured claims, but have identified under £246m in assets available.