The 100 largest UK-regulated insurers reported a combined underwriting profit in 2019, albeit lower than in 2018. Bond yields fell in 2019, however, investment earnings benefited from the strong performance of equity markets. How will the impact of the…
It is the year 2030. Following the success of 2019’s Blueprint One and 2025’s Blueprint Two [which also co-opted in the IUA and broader stakeholder representation], Lloyd’s and the wider London market is now ready for the highly anticipated third…
Ardonagh has offered to sell motorcycle specialist Bennetts to address the concerns of the Competition and Markets Authority and avoid a “long, burdensome and expensive phase two enquiry”.
Direct Line Group CEO Penny James spoke to Jen Frost about overseeing the business’s transformation programme under coronavirus, the group’s acquisitive appetite and having a healthy curiosity
The Financial Conduct Authority and seven out of the eight insurers involved in the regulator’s business interruption test case have filed applications to ‘leapfrog’ an appeal of the High Court judgment handed down earlier this month to the Supreme Court.
John Glen MP, economic secretary to HM Treasury, has rebuked insurers deducting government grants from business interruption claims payments and warned of further action.
The Financial Conduct Authority has estimated it will cost the insurance sector £1.06bn over 10 years to comply with its package of measures designed to tackle dual pricing in the general insurance market.
The Competition and Markets Authority has approved the proposed merger of Bupa Insurance and CS Healthcare with the pair hoping to complete the deal in January next year.
Next year’s dual pricing ban will force price comparison websites to adapt if they are to stay relevant, experts have warned.
Last week the High Court found in favour of the Financial Conduct Authority on key issues in the business interruption test case. Post seeks to find out how the market feels about this.
Insurers that do not pay claims swiftly and choose to appeal following the judgment in the Financial Conduct Authority’s business insurance test case could end up paying out more under the Enterprise Act, lawyers have cautioned.
On 4 August, a massive explosion devastated the city of Beirut. DAC Beachcroft partner and London Forum of Insurance Lawyers member Toby Vallance and DAC Beachcroft solicitor Michael McMillen consider the marine impact of the blast and whether lessons…
As the driver in a fatal autonomous Uber car crash from 2018 was charged with negligent homicide, the insurance industry has warned more needs to be done before introducing Automated Lane Keeping Systems onto UK roads next year.
Alex Alway and Andrew Scott have teamed up to form UKGI Group and have bought compliance consultancy firm RWA, Post can reveal.
Change can be a daunting prospect. In these uncertain times especially so. Our natural instinct can be to resist. But change is often necessary; it can make us stronger, more resilient and more effective, writes Flood Re CEO Andy Bord.
Investment of £1.2bn on 5267km of roads across Britain could prevent more than 8000 deaths and serious injuries over the next 20 years, according to a report by the Road Safety Foundation and Ageas.
The Competition and Markets Authority has found that Ardonagh’s purchase of Bennetts could lead to “higher prices, less choice and worse services for motorcyclists in the UK”.
Zurich policies under scrutiny in the Financial Conduct Authority’s business interruption test case are not expected to pay out, the insurer has confirmed in an update.
The Hospitality Insurance Group Action is seeking more members, after a court ruling suggested a policy brokered by Marsh for several insurers is likely to pay out.
Insurer Ecclesiastical has confirmed its business interruption policies are not expected to pay out following a judgment in the Financial Conduct Authority’s High Court test case.
RSA has revealed the additional financial impact of the Financial Conduct Authority test case judgment is £104m, or £85m net of reinsurance.
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
The Covid-19 pandemic has caused devastating losses for many businesses, with SMEs in the retail and hospitality sector being particularly hard hit. The extent to which these losses fall to be covered by business interruption insurance policies is the…
On 15 September the judges in the Financial Conduct Authority’s business interruption test case will hand down their judgment. But this will not mark the end of the struggle between insurers and customers.