United Kingdom (UK)
Insurance Covid-Cast - episode five: Could the FOS be key to help bring clarity and nix growing number of SME BI complaints
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss the ongoing confusion around business interruption cover, and what is needed to bring some…
Hastings chair Hoffman to exit
Gary Hoffman, Hastings non-executive chair, will step down from the company next month.
180 years of Post: Broking under occupation
May marks 75 years since the end of the Second World War. The only part of the British Isles to be occupied by the Germans during the war were the Channel Islands, which were under the rule of the Germany Armed Forces from 1940 to 1945. As part of Post’s…
Personal injury coronavirus protocol time frame extended
The personal injury protocol calling for solicitors and insurers to work together to mitigate the impact of the Covid-19 outbreak and protect access to justice will now remain in place for at least an extra four weeks.
Hiscox Action Group appoints top City law firm as it surpasses 200 members
The Hiscox Action Group, which now represents more than 200 claimants, has appointed City law firm Mishcon de Reya to handle its case.
McLarens adds Baldwin from Sedgwick as executive director
McLarens has appointed Neil Baldwin as executive director at its UK and Ireland business, replacing Nigel Clarke.
Markel told to pay £16m damages in Braganza test dispute
A judge has ruled against Markel and ordered it to pay damages of £16m in a long-running dispute with lender UK Acorn Finance.
Blog: Frictionless payments - driving customer loyalty
Frictionless payment options have taken on new significance following the outbreak of Covid-19, but their significance runs much deeper. Nigel Phillips, commercial director of insurtech CDL, looks at the technology’s potential to redefine the…
Blog: Delivering a personal, timely and multichannel experience without putting core operations at risk
You don't need to risk crashing back-end legacy systems to deliver personalised and integrated customer service, argues Giuliano Altamura of the Fincons Group.
Ex-XL Catlin boss Paul Jardine joins Chaucer as non-exec chairman
Chaucer has appointed Paul Jardine as non-executive chairman succeeding Chris Stooke who will retire from the board later this year.
Nightlife trade body to coordinate claims against Hiscox on BI
The Night Time Industries Association has sought legal counsel on its members' rights on refused business interruption policies.
Analysis: Policyholders band together as BI group actions mount
Ecclesiastical, Hiscox, QBE and RSA could all face class actions from businesses that have had claims for losses from coronavirus-related closures rejected as policyholders group together and brokers also come under fire.
90 nurseries mull legal action against Ecclesiastical and broker over BI cover
A group of 90 daycare nurseries are considering a legal challenge against both their insurer and broker, Ecclesiastical and Pound Gates respectively, following rejected business interruption claims, Post can reveal.
Politicians call for motor insurers to refund policyholders
Members of Parliament have called for insurers to refund motorists based on coronavirus lockdown savings, following Admiral's pledged £25 per customer rebate yesterday.
Beazley and Chubb reveal Q1 coronavirus hits
Beazley has reported a $170m (£137.7m) impact from Covid-19 related claims while Chubb took $13m of pre-tax $13m losses in the first quarter of the year.
RSA faces group action over disputed Cottagesure BI wording
RSA faces a legal challenge from a group of 50 businesses which had claims rejected for losses sustained due to Covid-19-related closures, Post has learned.
Hiscox confirms $175m coronavirus claims hit
Hiscox has confirmed it expects to pay net claims of $150m (£121.6m) due to the coronavirus crisis with the potential for another $25m if the current restrictions on “mass gatherings” are extended beyond six months.
Brokers warned that pandemic crisis will trigger rise in PI cases
Brokers and industry specialists are expecting to see a spike in claims against broker professional indemnity policies as a result of the ongoing coronavirus pandemic.
Blog: Open finance - an opportunity for the insurance industry?
Before the insurance industry fully realised the potential of open banking and the opportunities this Payment Services Directive 2 initiative affords them, the Financial Conduct Authority called for input to its 2020 open finance consultation paper. For…
Whiplash reforms pushed back into 2021
Whiplash reforms, including the implementation of the claims portal, have been pushed back to April 2021 due to the coronavirus pandemic.
Axa XL proposes restructure as it reshuffles leadership team
Axa XL has revealed changes to its leadership team, with UK legal entities CEO Paul Greensmith departing and further ‘reorganisation’ expected.
Admiral commits £110m towards refunds for motor customers
Admiral has pledged £110m towards automatic refunds as motor customers are staying at home and driving less during the UK-wide Covid-19 lockdown.
Analysis: Will lockdown car insurance profits trickle down to policyholders?
Quieter roads have led many to assume that car insurers are in for pandemic profits. Post investigates calls for lockdown windfalls to be re-gifted to motorists.
Blog: Coronavirus business interruption insurance – devil is in the detail for Hiscox and others
Most businesses will not be insured for Covid-19 disruption and in many cases the wording is clear cut. But for others, the devil is in the detail and policy wordings suggest that insurers should cough up vital interim payments sooner rather than later.