United Kingdom (UK)
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.
Aviva, RSA and Aon bosses among insurance leaders launching Pandemic Re steering group
Insurance heavyweights from across the market have come together to launch a steering group to improve the industry’s response to future pandemics.
Blog: Do insurers risk being relegated to the role of white label cover providers in an era of Amazon and Apple?
As Ikea partners with Swiss Re to enter the household insurance market, the move is yet another step closer to insurance cover becoming part of a wider ecosystem economy, where goods and services are bundled for consumer convenience. Keith Stonell,…
Nightlife broker seeks legal advice after QBE rejects clients' Covid-19 claims
NDML Insurance Specialists, an insurance broker that caters to nightclubs, has sought legal advice after around 60 of its clients had claims for coronavirus-related closures rejected by insurer QBE, Post has learned.
Most Brits unaware of motor insurance gender ban or where it came from
Exclusive: The majority of UK consumers are not aware that insurers cannot use gender as a factor in pricing for motor insurance or where the ban came from, research commissioned by Post has shown.
Brightside's Brendan McCafferty on how the insurance industry is adjusting in the time of coronavirus
The insurance industry is going through a difficult time, like many sectors, in full view of the court of public opinion says Brendan McCafferty CEO at Brightside.
Martyn Holman replaces Mark Boleat as Somerset Bridge chairman
Former Brightside and Markerstudy boss Martyn Holman has taken up the role of chairman at Arron Banks-owned Somerset Bridge Insurance Services following the decision of Mark Boleat to stand down, Post can reveal.