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 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.
The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on Monday as insurers began their appeal of the September judgment handed down in the Financial Conduct Authority’s business interruption test case.
Claims and Fraud Summit 2020: Hear from AA, Allianz, Aviva, Ecclesiastical, Hiscox, Markel, Munich Re, NFU Mutual, QBE, RSA and Zurich
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As the search for lesser-spotted clarity continues, simple confirmation from the regulator on which business interruption wordings are being contested, and by who, is a welcome aid.
Although non-life insurers in Asia performed modestly in 2019, the past nine months has been bumpy for the industry. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, discusses the region’s performance over the past year
Some businesses with policies that employ a Marsh wording can expect interim payments “imminently” following RSA’s decision not to appeal a High Court judgment, which found it provided cover for disruption caused by the coronavirus pandemic.
The Supreme Court will start hearing the appeals of six insurers, the Hiscox Action Group and the Financial Conduct Authority in the ongoing Covid-19 business interruption test case on Monday 16 November, the FCA has confirmed.
Third party liability claims arising from August’s Stonehaven train crash in Scotland will fall to either Travelers or QBE, broker letters reveal.
QBE has appointed Richard Pryce as interim group CEO as it continues the process of finding a replacement for Pat Regan who left abruptly at the start of September after an investigation into “workplace communications”.
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.
As a result of the coronavirus pandemic, the shipping industry finds itself amid the sharpest decline in trade in 35 years, according to Clarksons Research. The intelligence provider estimates that seaborne trade fell by 10.6% year-on-year in May and…
Colin O’Farrell, chief underwriting officer of insurance for QBE International, will be retiring from the business at the end of this year with deputy CUO Nick Hankin stepping up as interim CUO on 1 January, the provider has announced.
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.
Former Axa XL global property and casualty CEO Jason Harris has joined QBE and will take over as QBE International CEO when Richard Pryce steps down.
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.
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.
Businesses have put their return to office plans on hold following the latest statement from the government asking people in England to work from home where possible.
As the driver in a fatal autonomous Uber car crash from 2018 was charged with negligent homicide, the insurance industry has warned more needs to be done before introducing Automated Lane Keeping Systems onto UK roads next year.
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.
Some of the Insurers involved in the Financial Conduct Authority’s business interruption test case saw share prices increase following the verdict, despite participants being told to pay out for some claims.