The Department of Justice for Northern Ireland has decided against changing the country's personal injury discount rate until a revised legal framework is in place.
Other insurers unlikely to intervene after RSA declines to appeal 'outlier' Marsh BI wording, say lawyers
RSA’s decision not to appeal the High Court’s rulings with regards to a widely-used Marsh wording is unlikely to result in another insurer launching an appeal of its own, with would-be interveners facing significant hurdles according to lawyers.
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.
The predicted coronavirus-related economic hit is being compared to the 2008 recession, with financial pressure a driver of insurance fraud.
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.
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.
Adele Sumner, head of counter fraud strategy and financial crime at RSA, details how fraudsters have been diversifying their techniques during the coronavirus pandemic and the steps insurers can take to fight the scams.
When lockdown happened in March some insurers and brokers were better placed than others to continue operating remotely with little or no impact on service. These firms had already been invested heavily in technology to enable more flexible working and…
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.
A year ago the Independent Inquiry into Child Sexual Abuse released a report slamming the claims process as it stands and making a raft of recommendations. Post investigates the progress made since then.
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.
QBE has predicted that it faces a $70m (£54.3m) hit net of reinsurance for business interruption claims in the UK after the court ruling yesterday on the BI test case.
Insurers have been urged to consider the “reputational damage they may suffer” before appealing the Financial Conduct Authority's business interruption test case judgment.
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court ruling today in the business interruption test case and those with prevention of access wordings may also find they have cover, law…
The Hospitality Insurance Group Action is seeking more members, after a court ruling suggested a policy brokered by Marsh for several insurers is likely to pay out.
RSA has revealed the additional financial impact of the Financial Conduct Authority test case judgment is £104m, or £85m net of reinsurance.
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
On 15 September the judges in the Financial Conduct Authority’s business interruption test case will hand down their judgment. But this will not mark the end of the struggle between insurers and customers.
Events were cancelled across the board this year due to Covid-19 but none could be much more emotive than the thousands of weddings that couldn’t go ahead. Post investigates how the insurance market responded.
The judgment in the Financial Conduct Authority’s business interruption test case, in which the regulator is representing policyholders against insurers, is expected Tuesday 15 September.
The model of banks with in-house general insurance divisions, or bancassurance, has thrived elsewhere in Europe but failed to pick up the pace in the UK. Is this about to change?