The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.
RSA will cease to underwrite wedding insurance when its John Lewis contract ends at the beginning of next year, Post has learned.
RSA will look to cut further costs in its UK arm, RSA CEO Stephen Hester confirmed as the insurer released it first half results for 2020.
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
Representing RSA, David Turner QC, accused the Hospitality Insurance Group Action of “clear misuse” of the word ‘peril’ on the on the fourth day of the hearing of the Financial Conduct Authority’s Covid-19 business interruption test case.
Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.
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.
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.
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.
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”.
Government flooding funding "misses the point" on homeowners, it was alleged, as £5.2bn was pledged towards various initiatives.
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…
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
When not working as home claims trainer at RSA, Marco Sementa uses his free time to raise money for charity playing football.
If Ecclesiastical CEO Mark Hews is sorry for how the insurer has handled non-recent child sexual abuse claims, should he not be addressing the victims rather than shareholders?
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 should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
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…
Insurers have been accused of filibustering in relation to business interruption as firms suffer “devastating losses” following coronavirus lockdown.
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
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…
Janet Connor will be stepping down as managing director of insurance at the AA this summer with former RSA UK personal lines MD David Coughlan taking up the role, Post can reveal.
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.