Hiscox
Law firm names Hiscox and RSA as BI class action litigation targets
Law firm Edwin Coe has invited businesses that have been denied business interruption cover by Hiscox and RSA to join two group claims it is putting together, as litigation against insurers by rejected policyholders cover continues to proliferate.
Trio of insurtechs raise almost £20m as market warned of slowdown in investments
A trio of insurtechs have confirmed early-stage fund raising of almost £20m only one week after the market was warned to expect a slowdown in investment due to Covid-19.
Insurance Covid-Cast episode 15: Has there been a rise in cyber threats and scams during coronavirus lockdown?
In the latest episode of Post and Insurance Age’s video series we gathered together a group of cyber experts to discuss how hackers and scammers are using Covid-19 to prey on people’s thirst for knowledge and information at this time.
Hiscox accused of confirming businesses' coronavirus cover then rejecting claims
Some businesses that have had coronavirus-related claims rejected by Hiscox were told in writing prior to lockdown that they would be covered, according to an action group challenging the insurer.
Hiscox Action Group to launch £40m arbitration claim 'within days'
An action group of 400 Hiscox business insurance policyholders is to launch an “expedited arbitration claim” against the insurer worth almost £40m.
FCA invites broker and policyholder input as it builds BI test case
The Financial Conduct Authority has invited policyholders and brokers with unresolved Covid-19-related disputes with insurers over business interruption polices to put forward their arguments for why claims should be paid.
Pandemic crisis accelerating hard market return, say execs
Pricing momentum towards a hard insurance and reinsurance market will continue with the coronavirus crisis acting as a catalyst for steeper rate increases, industry executives have said.
The NED Blog: Covid-19 is not a solvency issue
Being a non-executive director of an insurance business is never boring but it’s fair to say that navigating the way through the current Covid-19 crisis is a completely new challenge and there are critical lessons that can be learnt from past crisis…
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…
Bought By Many to enter new markets after largest UK insurtech raise of $98m
Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.
Hiscox predicts BI hit up to £250m
Hiscox has predicted its exposure to business interruption claims from Covid-19 could range from £10m to £250m net of reinsurance.
Hiscox raises £375m
Hiscox has raised roughly £375m through sales of shares, having announced its intention to raise on Tuesday afternoon.
Hiscox looks to capital raise through share placement
Hiscox has announced an equity placing for up to just under a fifth (19.99%) of its issued share capital.
Hiscox BI action groups join forces
The two largest Hiscox policyholder business interruption action groups in the UK have formed a strategic alliance, together representing more than 500 businesses.
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.
Analysts talk up chances of 'now or never' Beazley equity raise
Jefferies has revised the probability of Beazley raising equity up to 40%, citing feedback from investors that, were the insurer considering the option, it should come “now or never”.
Insurance Covid-Cast - episode six: From panic to practicalities, what will BI insurance look like when the Covid-19 recriminations settle down
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 the insurance industry let the narrative over business interruption become national…
We will not wait for the ombudsman, says Hiscox BI challenge lawyer
A lawyer advising pubs and clubs mulling legal action against Hiscox over rejected business interruption claims has said the group won’t wait for the Financial Ombudsman Service to process complaints before launching arbitration proceedings.
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.
Hiscox mulls capital raise
Hiscox has this morning confirmed it is considering raising equity among other options as it seeks to combat the Covid-19 impact.
Insurers praised for postponements on unoccupied premises clauses
As many businesses hit one month out of their offices and workplaces insurers have been praised for their response to unoccupied premises clauses in buildings insurance.
Admiral ploughs on with year end shareholder dividend
Admiral confirmed it will recommend a final dividend for the year to shareholders, as it suspended a special dividend.
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 -…