Business continuity
Lloyd’s underwriting room to shut today
Lloyd’s has confirmed that it will close its underwriting room at 4pm on Thursday 19 March saying it was keeping in line with government advice to avoid all non-essential contact.
Analysis: What will the legacy of Covid 19 mean for the future of work as insurance staff migrate from the office to home?
Insurers might be closing their offices in the face of Covid 19, but they are quick to reassure everyone that it is business-as-usual. Jonathan Swift looks at what insurers are doing in the face of unprecedented upheaval and what the legacy might be when…
Blog: Covid-19: ‘boiler plate’ clauses and statutory obligations will come into sharp focus in the coming months
Business interruption policies have come under the spotlight with the coronovirus pandemic but Tamsin Hyland, an associate solicitor at Plexus Law, explains that as real life business continuity begins to be enacted, changing risk management could put…
Not appropriate to change insurance policies retrospectively, says Chancellor
The Chancellor of the Exchequer, Rishi Sunak, has told the House of Commons that retrospectively changing insurance policies could cause insolvency issues for insurance companies and is not the most appropriate course of action.
Government clarifies BI payouts after insurer meetings
The Chancellor of the Exchequer, Rishi Sunak, has confirmed that businesses hit by yesterday’s government guidance for the public to avoid unnecessary contact through going out can claim on their business interruption policies where they have pandemic…
Insurance tech firms confident of full service during coronavirus pandemic
All insurance technology suppliers contacted by Post are confident their business continuity plans will maintain a full service for insurer and broker clients as the UK increasingly moves to remote working due to the ongoing Covid-19 crisis.
Insurance representative bodies update on coronavirus working plans
The London and International Insurance Brokers’ Association has remained open but is ready to close its office and work remotely according to CEO Chris Croft.
Lloyd’s closes underwriting room in coronavirus exercise
On Friday Lloyd’s will close its underwriting room at 1 Lime Street as it tests its alternative trading protocols.
Budget 2020: IPT stays the same as government bolsters flood defence spending
Insurance Premium Tax has remained at 12% in today’s Chancellor’s budget, as the government pledged to boost spending on flood defences.
Analysis: Insurers nix staff travel as coronavirus casts shadow over events
Some firms are telling their staff to avoid all but essential work travel in the UK due to coronavirus concerns, leading to some insurance event postponements and cancellations, Post has learned.
Analysis: A coronavirus call centre crisis?
Personal lines insurance providers are faced with a potentially “lethal” situation if call centre staff cannot go into work en masse due to coronavirus disruption, compliance experts have cautioned. Post asked brokers and insurers how they are preparing…
Blog: How insurers and brokers should engage with insurtechs
Insurers and brokers ask the most ridiculous, irrelevant questions, which starkly highlights how out of touch they are when it comes to IT procurement today, Inzura CEO Richard Jelbert argues as he looks at the current process and some of the questions…
Insurance policies likely to provide limited protection from coronavirus costs
Businesses seeking to use insurance to recoup costs incurred by the ongoing coronavirus outbreak are likely to find their cover wanting, due to a raft of exclusions, stringent notification criteria and sublimits.
Blog: Controlling the business impact of Coronavirus
The human impact of Novel Coronavirus has already been devastating – around 500 deaths so far, and nearly 25,000 people have been infected. Simon Worrell, global medical director at Collinson, explains that businesses can play a significant role in…
Coronavirus: Organisations urged to review business continuity and crisis management plans
As the number of confirmed Novel Coronavirus cases hit 2014 yesterday, businesses have been advised to make sure they factor the virus into their risk plans.
Complex supply chains increasingly under strain: Airmic
Developments in geopolitics, climate and technology are increasingly putting supply chains under strain, the Association of Insurance and Risk Managers in Commerce has warned.
Analysis: The real risks of business travel
Business travel insurance might cover the same risks as leisure policies but, because it underwrites and compensates differently, it places a much stronger emphasis on risk management
CNA Hardy's Dave Brosnan on beating the bunker mentality
Business executives are underestimating supply chain and terror risks, writes CNA Hardy's CEO Dave Brosnan, urging them to beat the bunker.
Charles Taylor Insuretech to lead Lloyd's delegated authority solution
Charles Taylor Insuretech has been chosen to deliver a delegated authority solution to the Lloyd’s and London market.
Blog: How brokers can convince schools to buy cyber coverage
With less than one in three UK schools covered by cyber insurance, Faith Parish, education director at Ecclesiastical, explains how brokers can encourage take-up.
Blog: How to make your cyber offering stand out
Cyber insurers can gain market share by differentiating their products. Benedict McKenna, vice-president and London operations claims manager at FM Global, explains how.
Brokers informed: The weakest link
Whether through human error or ignorance, companies are exposed to cyber risk through employees and must consider their defences
Blog: Don't overlook commercial fire risk
Allan Macpherson, operations chief engineer at FM Global, explains how the commercial damage caused by fire can be mitigated.
Analysis: Business interruption - Trigger warning
As cyber and terror risks trigger new types of business interruption, insurers are becoming the go-to resource for expertise.