United Kingdom (UK)
Insurers urge MOJ for an early Christmas present of the rules for the whiplash portal
Insurers have urged the Ministry of Justice to release the rules for the whiplash portal as soon as possible, after delays earlier this year.
Supreme Court BI judgment deadline uncertain
The Supreme Court judges overseeing the Financial Conduct Authority's business interruption test case have pledged to work quickly but there is no certainty on when policyholders and insurers will get a decision.
Insurers must improve internal fraud team collaboration to join the dots, conference hears
Internal collaboration among fraud teams is important when fighting fraud, experts said at Post's Claims and Fraud summit.
Blog: Environmental liability – a catastrophic cover gap
Judy Hadden, founder of James Hallam business Oilspill Insurance Services, considers the hot topic of environmental liability cover, which she argues may be difficult to explain and sell but is an important value add.
Towergate sells Milburn to UBT in £2.2m deal
Towergate Insurance Brokers has sold Milburn Insurance Brokers to UBT (EU) in a £2.2m deal that completed on 1 November.
Hiscox had pandemic possibility 'well in mind' when it drafted BI policies, action group tells Supreme Court
The Hiscox Action Group has responded and opened its appeal as part of the Supreme Court hearing on the business interruption test case.
I-Wonder rolls out cycle comparison with motorbike to follow
I-Wonder has launched a bicycle insurance comparison site and is planning to enter the motorcycle market at the start of 2021, Post can reveal.
Compare the Market fined £17.9m by competition watchdog
Compare the Market has been fined £17.9m for its use of most favoured nation clauses.
BI test case: Warnings verdict and media confusion could enable fraudsters
The confusion created by the High Court’s decision in the Financial Conduct Authority's business interruption test case, with both parties claiming victory, could act as an enabler for fraudsters, according to experts speaking at Post’s Claims and Fraud…
Claims industry pivoted well to remote working but needs to prepare for a hybrid future, say experts
The claims industry has met the challenge of delivering for customers during the Covid-19 pandemic and should be preparing to take the best of what has been learned into a new normal of a hybrid remote-office work environment, according to specialists at…
Fully Comp episode 8: The pros and cons of crowdfunding for insurtechs
Welcome to episode eight of Fully Comp, Post’s video series tackling some of the biggest issues in insurance.
Blog: No discount rate change in Northern Ireland but uncertainty remains
The Northern Irish Department of Justice has decided not to change the country's discount rate in line with the existing framework but will wait for reforms. DAC Beachcroft complex injury partner Louise Butler considers the next steps.
Coronavirus the 'disease equivalent' of the Great Storm of 1987, Supreme Court hears
The Financial Conduct Authority’s counsel today likened the spread of coronavirus to the Great Storm of 1987, appearing in front of the Supreme Court for the third day of the business interruption test case appeal.
Analysis: Who are RSA buyers Intact and Tryg?
RSA's would-be co-owners Intact and Tryg intend to split the insurer once a deal closes. Post investigates what the parties' track records could mean for its future.
Insurers and FCA clash on trends clauses in Supreme Court BI test case
Insurer defendants and the Financial Conduct Authority set out their starkly differing views on the use of trends clauses on day two of the ongoing business interruption test case hearing at the Supreme Court.
Blog: Analytics has a critical role to play in major and complex loss
It is not just low-value claims that can benefit from technology – data analytics has an important role to play in major and complex loss, argues Neil Baldwin, McLarens executive director.
Former Sabre chairman Keith Morris OBE wins Achievement Award at 2020 British Insurance Awards
Former Sabre chairman Keith Morris OBE added his name to the roll call of Achievement Award winners in 2020. Jonathan Swift caught up with his colleagues and listened to what he had to say as he picked up the prize, as well reflecting on the other…
Risk consortium Oric warns of data black hole
Insurers face responding to the Covid-19 crisis in an informational black hole, operational risk experts at Oric told Post.
Local coronavirus cases did not cause national lockdown, BI insurers tell Supreme Court
The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on Monday as insurers began their appeal of the September judgment handed down in the Financial Conduct Authority’s business interruption test case.
Covéa’s Lisa Meigh on staying connected in the new workplace
Lisa Meigh, people director at Covéa Insurance, shares her learnings about remote working during the ongoing coronavirus pandemic and gives her opinions on working practices of the future.
PRA zones in on financial lines, man-made cat exposure and contract uncertainty
The Prudential Regulation Authority will “sharpen” its focus on financial lines insurers and those with a material exposure to man-made catastrophe risk, in addition to advising insurers to revisit how they approach contract uncertainty, the regulator…
Needham buys book as FCA shuttered broker Inspire goes into liquidation
Inspire Insurance Services has gone into liquidation after the Financial Conduct Authority ordered the Coventry-based broker to shut up shop last month.
Software house stats lay bare the BI claims workload
Figures collated by Acturis for Post have revealed there were over 39 times more business interruption claims handled by brokers through the software house since the start of the coronavirus pandemic than the average seen across the same periods of 2018…
Analysis: Managing and insuring business travel in a pandemic
With planes grounded across the globe and staff working from home, more often than not business travel numbers have dropped off severely. Post investigates how the market has been impacted and what this sector might look like in the future