The arguments set out by Hiscox in its defence over non-payment of business interruption arising from Covid-19 are too narrow, unrealistic and uncommercial according to the Hiscox Action Group.
Exclusive: The Financial Conduct Authority has confirmed there were 21 instances of individuals using its whistleblowing hotline to share information on sexual misconduct at insurance firms over six years.
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
The Financial Conduct Authority has warned of a second fake website purporting to be its financial services register in the space of two months.
On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
The Competition and Markets Authority has opened a merger inquiry into the proposed takeover of Bennetts Motorcyling Services by Ardonagh Group.
It was today confirmed up to 370,000 policyholders may be affected by the Financial Conduct Authority's High Court case, which aims to decide on the validity of business interruption cover during the coronavirus outbreak.
The consultation by the Financial Conduct Authority on extending the deadline for the implementation of conduct rules is “welcome news”, according to David Sparkes, head of compliance and training at the British Insurance Brokers’ Association.
Voluntary initiatives launched in 2018 to address dual pricing are “having a positive impact”, the Association of British Insurers has claimed amid suggestions that the industry needs to go further and do so quickly.
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers…
The UK government recently took the decision to legalise the use of rental electric scooters on public roads. Glyn Thompson, head of the motor sector focus team at the Forum Of Insurance Lawyers and technical lead motor at Weightmans, looks at what the…
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
Søren Aamann Jensen from the Danish law firm Kromann Reumert and Troels Askerud from Gefion have been appointed as joint liquidators of Gefion Insurance.
The Financial Conduct Authority has alleged that insurers’ approach to causation in the business interruption test case is “legally flawed” and the defendants have “overlooked” contractual contexts.
Effective remedies are still needed to address the scale of the dual pricing problem in insurance, according to the latest update from the Competition and Markets Authority.
Insurers should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
The business interruption policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the regulator has…
Insurers have been accused of filibustering in relation to business interruption as firms suffer “devastating losses” following coronavirus lockdown.
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
The Competition and Markets Authority has again appealed for the power to impose financial penalties on businesses that breach payment protection insurance regulations, after breaches were uncovered at Cardif Pinnacle, Lloyds Banking Group and Nationwide.
June 2020 was to be the month insurers got their comeuppance on the saga that is dual pricing, but the Financial Conduct Authority has once again dropped the ball.
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
The Financial Services Compensation Scheme has appointed Fiona Kidy as chief financial officer having held the role on an interim basis since May last year.