Insurers have been found hugely wanting by a business interruption judgment that is a victory for common sense. But the struggle is not over yet, for them or their customers.
The Supreme Court’s ruling in favour of the Financial Conduct Authority on behalf of policyholders in the cases versus insurers over Covid-19 business interruption claims will have long-term ramifications for causation and trends clauses, according to…
Free content: Access market and insurance reactions to the Supreme Court ruling that dismissed appeals against a High Court judgment on insurers paying out in Covid-related disruption on business interruption insurance policies and overturned the Orient…
The Covid-19 pandemic has highlighted a split between what policyholders expect from business interruption cover and what insurers say it offers. Damian Glynn, Sedgwick International UK head of financial risks, asks whether customers are ensnared in a…
The Supreme Court is expected to hand down its judgment in the business interruption test case appeal on Friday 15 January, the Financial Conduct Authority has confirmed.
The Financial Conduct Authority imposed fines of £192,570,018 in 2020, the third lowest total on record since the watchdog was formed in 2013.
The Financial Conduct Authority’s coronavirus financial resilience survey has revealed that insurance broker liquidity fell by 30% due to the pandemic, the largest drop measured in any sector.
Post spoke to insurers, brokers and claims professionals to get their predictions for what 2021 will look like.
Post spoke to brokers and MGAs to get their thoughts on the highs and lows of 2020
Post spoke to insurers to get their thoughts on the highs and lows of 2020
As the year draws to a close and people prepare for some long overdue down time, it’s worth pausing to reflect on the role of conduct and culture in how insurance has dealt with challenges and how they can shape responses in 2021, says Sarah Dalgarno,…
With the Brexit transition period ending on 31 December, Post asked insurance trade bodies and associations about the biggest challenges and changes for the market.
The Financial Conduct Authority has told customers who purchased cover through insolvent South West-based Professional Construction Risks Limited to contact their insurers directly to confirm the status of their policies.
Insurers and policyholders will have to wait until next year for the final outcome of the Financial Conduct Authority-led business interruption test case, according to an update from the regulator.
The Financial Conduct Authority has issued a warning against a bookings software provider that marketed a cancellation insurance product to owners of UK holiday lets, following an investigation by Post.
The administrators of Elite Insurance have disclaimed all but two after the event insurance policies underwritten by the insurer.
Procurement in the 1980s and 1990s was all about who you knew. Tender processes then took over but today the market relies on a rolling review system to ensure customer service levels remain high and partners are delivering as they should on a day-to-day…
The Financial Conduct Authority has launched a consultation on guidance to policyholders, insurers and intermediaries on how the presence of Covid-19 in a particular area may be proved for the purposes of business interruption claims.
Insurance providers are set to be left with a £1.4m hole from the collapse of Coventry-based Inspire Insurance Services, with the broker's total deficit estimated at £2.7m by liquidators.
Humans are not designed to cope well with uncertainty.
With Lloyd’s, London market and wholesale broker accountability drawing the regulator’s attention in recent weeks, Michael Sicsic, managing director of Sicsic Advisory and former Financial Conduct Authority head of retail general insurance supervision,…
Proposed changes to the Financial Conduct Authority’s product governance rules could prove to have a greater long-term impact than the regulator’s prospective price walking ban, consumer research and compliance experts have said.
The Financial Conduct Authority has written to Lloyd’s and London Market insurers instructing them to “behave ethically and responsibly in the way they treat their customers, their employees and their counterparties” during the pandemic.
“Ridiculous”, “harmful”, “anti-competitive”. These were the words used by Money Supermarket managing director of financial services Graham Donoghue to describe wide ‘most favoured nation’ clauses during a Competition Commission hearing back in 2013.