QBE Insurance Group
Action group brands insurers' focus on lack of specific pandemic cover 'a diversionary tactic'
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
QBE warns of $335m Covid underwriting hit for H1
QBE has predicted it will deliver a $750m (£581.7m) post tax loss when its half year results for 2020 are published next month.
FCA picks apart insurer reliance on Hurricane Katrina judgment in BI test case
On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
FCA versus insurers as test case showdown begins
It was today confirmed up to 370,000 policyholders may be affected by the Financial Conduct Authority's High Court case, which aims to decide on the validity of business interruption cover during the coronavirus outbreak.
Insurers haul brokers into FCA BI case again
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
Restaurants that changed to takeaways under lockdown not 'same insured business' argues FCA
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers…
Insurers argue FCA BI victory would lead to ‘injustice’
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
Sam White launches Australian MGA Stella with £80m target
Pukka-owner Freedom Services Group has teamed up with private equity firm Envest and others to launch Stella Insurance, a digital managing general agent providing female-centric motor insurance in Australia.
Insurer approaches to causation ‘legally flawed’ FCA argues in BI test case
The Financial Conduct Authority has alleged that insurers’ approach to causation in the business interruption test case is “legally flawed” and the defendants have “overlooked” contractual contexts.
Insurers failed to raise issues with government's restriction triggers says FCA
Insurers should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
Brokers not responsible for BI test case insurance policies under contract law, argues FCA
The business interruption policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the regulator has…
Action groups hit out at 'absurd' insurer defences in FCA BI case
Insurers have been accused of filibustering in relation to business interruption as firms suffer “devastating losses” following coronavirus lockdown.
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
RSA walks back on Marsh criticism in FCA's BI test case
As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…
Insurers accused of ‘dragging feet’ as extra FCA BI September trial dates mooted
Insurers have been accused of "dragging feet" in the Financial Conduct Authority's business interruption test case, as they sought additional hearing time in September to debate on the regulator's use of an analysis by the University of Cambridge to…
Action groups get go-ahead to intervene in FCA BI test case
Groups formed against Hiscox and QBE will “closely liaise” with the Financial Conduct Authority but are not permitted to increase the scope of the test case.
Briefing: Have insurers thrown brokers under the bus on BI?
There have always been points of conflict in the insurer and broker relationship but this week that reached a new low as RSA offered up Marsh as a human shield in its battle to avoid payment of business interruption claims for the Covid-19 pandemic.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
BI Case Notes: A who’s who of the FCA’s business interruption test case
Updated: The Financial Conduct Authority’s test case showdown, which the regulator has estimated could affected 370,000 policyholders, is expected to reach a climax on 15 January 2021 when the Supreme Court will rule on points of appeal.
Insurers lock horns with FCA in BI test case defences
The eight insurers involved in the Financial Conduct Authority’s business interruption test case have filed their defences with the court, alleging among other arguments that the pandemic is a global issue rather than local and therefore not covered.
Analysis: The wordings under the magnifying glass in the FCA's BI test case
As preparations continue for a July test case to determine whether business interruption policies cover coronavirus lockdown losses, Post delves into the “representative sample” of wordings on which the court will be adjudicating.
180 Years of Post: Corporate collapses
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.
Briefing: EC3's 'Plantation Place' – Insurers back renaming as London’s Square Mile faces up to slavery links
When the Black Lives Matters movement blew up in the UK following the death of George Floyd in Minnesota I wondered how long it would take before the insurance sector came under the spotlight.
Motor Mouth Podcast 13: Motor insurance – the coronavirus’s impact on insurers (part two)
Insurance Post’s content director Jonathan Swift interviews QBE's Jon Dye to get his views and opinions of the motor insurance industry and how it has grappled with the challenges of the past few months