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…
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.
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.
Insurers' comments about the duty of brokers made in the defences in the ongoing Financial Conduct Authority business interruption court case are "irrelevant" and "unhelpful" according to British Insurance Brokers' Association CEO Steve White.
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.
The Financial Conduct Authority’s test case showdown, in which it is representing the interests of approximately 8500 business interruption policyholders against a sample of eight insurers, is set to begin in court on 20 July. Post showcases the key…
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.
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.
Aviva’s advice on executive pay and corporate governance and responsibility is bang on the money.
PREMIUM: 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.
Rory O’Connor, former executive director and chief financial officer of RSA Ireland Insurance, has been fined €70,000 and disqualified for eight years and four months by the Central Bank of Ireland.
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.
Lloyd’s of London and RSA have addressed their historic involvement with the Atlantic slave trade and committed to continuing work to tackle racism.
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
Insurers' intent with regards pandemics 'not relevant or admissible', FCA will argue in High Court test case
Insurers’ contentions that wordings in business interruption policies are not designed to and do not provide cover in the event of pandemics will be disputed by the Financial Conduct Authority when it brings a test case before the High Court next month.
The Financial Conduct Authority has received 105 letters from MPs concerned about business interruption insurance, 51 relating to RSA’s Cottagesure policies, according a representative of the regulator, who revealed several key stats in his witness…
Insurers have been accused of mis-steps in claims handling on four counts by brokers, according to a witness statement from Financial Conduct Authority director of general insurance and conduct specialists Matthew Brewis.
The Police Mutual Group will become part of life and pensions mutual Royal London, a move driven by a need to bolster its financial position, according to Police Mutual CEO John Perks.
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
The Financial Conduct Authority's test case may be driving some law firms to revise their roles in slated business interruption legal battles, but lawyers argue they will still have a part to play quantifying losses and settling disputes.
Eight insurers will participate in a High Court test case being prepared by the Financial Conduct Authority to rule on whether the wordings of business interruption policies provide cover to businesses hit by the coronavirus pandemic.
Top 100 Insurtech Firms 2020: Investment, advice and coaching - what is the attraction of working with insurtechs?
PREMIUM: The insurance sector is difficult to navigate at the best of times, but doubly so if you are an insurtech with limited market experience and a small budget. Post caught up with a number of senior insurance executives who have gravitated to…
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.