United Kingdom (UK)
RSA reports £25m hit after receiving 25,000 Covid-19 related claims
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
Vulnerable customer numbers double as insurer conduct comes under the spotlight
The number of adults identifying as vulnerable in the home and motor insurance markets has doubled in the last year and insurers have been urged to ensure they are being inclusive as the regulator reviews their actions.
Your ‘business as usual’ April digest
We understand that while it’s important to keep bringing you up to date and important news on the Covid-19 pandemic and its impact on the industry, it’s also critical, especially while homeworking, to know what's happening outside of this. With that in…
Crawford & Co's Andrew King on why Covid-19 means the role of risk manager has never been more important
The risk manager’s time has come as realisation dawns on how interconnected and vulnerable we all are in light of Covid-19. That is the view of Andrew King, head of Crawford Forensic Accounting Services UK & Ireland, who warns the spectre of large…
Allianz latest coronavirus BI group action target
Allianz faces a potential group action lawsuit from policyholders that have had coronavirus-related business interruption claims rejected.
Direct Line saw motor claims slide 70% in April
Motor claims notifications fell 70% at insurer Direct Line Group in April compared to the same month in 2019, as drivers stayed indoors due to lockdown measures.
François-Xavier Boisseau reunites with Amanda Blanc at ERS
Former CEO of Ageas UK Insurance François-Xavier Boisseau has joined the board of ERS as a non executive director.
Direct Line standard BI policy wordings at ‘tight end’ of the industry: CEO Penny James
Direct Line Group CEO Penny James has said 99.5% of its business interruption customers have standard policies and the insurer believes the wording is “robust” enough that it will not be liable for coronavirus-related pay outs on these.
Hiscox predicts BI hit up to £250m
Hiscox has predicted its exposure to business interruption claims from Covid-19 could range from £10m to £250m net of reinsurance.
Blog: The future of catastrophic injury claims
We have seen a great deal in the press about the immediate impact of Covid-19 on the insurance claims landscape, including motor and credit hire. BLM’s head of catastrophic injury, Andrew Hibbert, believes there are a number of things the insurance…
Hiscox raises £375m
Hiscox has raised roughly £375m through sales of shares, having announced its intention to raise on Tuesday afternoon.
Blog: Covid-19 - safeguarding home workers’ health and safety
The risk posed by Covid-19 has led many employers to set up home working for all or some of their employees as a way of reducing the risk to employees of exposure to Covid-19. Clare Bone, partner and solicitor advocate at BTO, argues the fact that an…
Hiscox looks to capital raise through share placement
Hiscox has announced an equity placing for up to just under a fifth (19.99%) of its issued share capital.
Fears for future of care home cover as sector sees coronavirus ‘revolution’
Brokers have raised concerns over the future of care home insurance cover as insurers stop quoting new business after care home responsibilities change in light of Covid-19.
Matthew Crane joins THB from QBE as CEO
Matthew Crane has joined THB Group as CEO and president of the international division of Amwins Group.
Biba unveils six board changes
The British Insurance Brokers’ Association has made six board changes across its smaller brokers, larger brokers, MGA and networks advisory groups, its standards council and an internal appointment.
Experts warn of potential broker insolvencies due to premium finance proposals
The British Insurance Brokers’ Association and premium finance providers have warned of a possible hit to broker solvency in the event of bad debts under the proposed guidance issued by the Financial Conduct Authority last week.
SMEs face legal threats from same insurers that are not paying out on their BI policies
Exclusive: Insurers seeking to recoup losses from other classes, such as event cancellation and wedding insurance, are threatening policyholders involved in business interruption group actions against them with legal action.
Carrot's Andrew Brown-Allan on Covid-19 and connected motor insurance
Covid-19 has sparked plenty of arguments in the motor insurance world, especially on whether customers should pay premiums for vehicles that aren’t going anywhere, let alone creating claims. Carrot's chief marketing officer Andrew Brown-Allan asks what…
Penny Black's Social World: May 2020
Coping with Covid-19, celebrating Earth Day and combating loneliness
Editor's comment: Apocalypse planning
Should there ever be a zombie apocalypse my friends, family and colleagues know that I fully expect to be the first to be picked off, equally should I ever be lost in the remote woods with a bunch of strangers and a monster on the loose I’d be the one at…
Roundtable: Measuring progress in diversity
As part of the Inclusion at Lloyd’s programme six partner networks have been set up to help bolster diversity and inclusion in insurance. Before the lockdown, Post gathered representatives from some of the networks together to find out what progress has…
Alway exits chairman role at Bravo
Alex Alway has resigned as chairman of Bravo Group, the business has confirmed.
Iprism growth on track after restructure, says MD Ian Lloyd
Iprism Underwriting Agency is growing its underwriting and bottom line profits after its restructure last year despite the impact of the coronavirus pandemic, according to managing director Ian Lloyd.