Post tracks test case related Covid-19 business interruption claims payouts according to Financial Conduct Authority figures.
Lawyers appointed as Tokio Marine Kiln faces BI group action lawsuit spearheaded by Marco Pierre White business
Tokio Marine Kiln is facing a group action lawsuit from businesses in the hospitality sector, including Marco Pierre White's Black and White Hospitality, that claim their policies provide cover for losses suffered during last spring’s Covid-19 lockdown.
As the anniversary of the first national lockdown where Prime Minster Boris Johnson told us to “stay at home” on 23 March 2020 came around Post spoke to host of insurance workers – the home-schooling parent, the mental health expert, the medical…
Compliance consultants have highlighted the dangers for brokers of buying professional indemnity insurance with Covid-19 exclusions, warning that the Financial Conduct Authority can suspend permissions if firms do not get the right cover
Ahead of the crucial weekend efforts to move 400m long MV Ever Given and unblock the Suez Canal, insurance industry experts assessed the potential for claims.
When facing the large losses pandemics threaten “we could do more” if a cover solution was limited to SMEs, Ivo Menzinger, Swiss Re managing director for public sector business across Europe, the Middle East and Africa, has said.
Aviva completes 'refocus' with sale to Allianz; Axa and Tesco join forces; Chubb takeover rebuffed and Bought By Many enters US
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Policymakers have mischaracterised the pandemic business interruption problem leading to a solution stalemate, virtual attendees of an Organisation for Economic Co-operation and Development event heard.
A coalition of brokers working with Hiscox was just two weeks away from solving the problem of Covid-19 business interruption claims but the court case cut the legs off the solution, Ardonagh CEO David Ross has claimed.
The big four reinsurers believe they are poised to take advantage of the hard market in 2021, with all but Swiss Re reporting profit in 2020 despite a combined property and casualty pandemic hit of £6.5bn.
Pandemic-related business interruption is “not insurable”, Scor CEO and chair Denis Kessler has said, likening the risk to that of property damage suffered during a war.
Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
On the 23 March 2020 as Covid-19 infection rates soared Prime Minster Boris Johnson told us to “stay at home” triggering the first National Lockdown. One year on Post spoke to a host of insurance workers - the loss adjusters, the HR boss and the IT boss …
On the 23 March 2020 as Covid-19 infection rates soared Prime Minster Boris Johnson told us to “stay at home” triggering the first National Lockdown. One year on Post spoke to a host of insurance workers - the insurer boss, the broker boss, the insurer…
The government’s understanding of insurance contracts is fundamentally flawed and endangers the chances of its expectations with respect to Covid-related business interruption claims being met, claims dispute expert Roger Flaxman has said.
On the 23 March 2020 as Covid-19 infection rates soared Prime Minster Boris Johnson told us to “stay at home” triggering the first National Lockdown. One year on Post spoke to a host of insurance workers - the contact centre managers and the claims…
Businesses due Covid payouts with longer indemnity periods must be aware of clawbacks – and why it is a gamble whether they accept a full and final settlement now or let their cover run.
Exclusive: Insurers should not make deductions from business interruption claims because insureds received government support during the pandemic if doing so leaves businesses at “an overall financial disadvantage”, the Economic Secretary to the Treasury…
Law firm Mishcon de Reya, which represented the Hiscox Action Group in the business interruption insurance test case, has revealed it has seen instructions concerning the emergence of disputes in the global reinsurance market.
The Covid-19 crisis has turbo charged the market to make digital changes in months rather than years but there is still more to be done for brokers to stay relevant, says Brendan McCafferty, CEO of Brightside Group.
Photographers have criticised Hiscox for the way in which the insurer has handled lockdown-related business interruption claims, with the head of a professional association calling the continued delay of settlements "intolerable".
Updated: Post tracks the 2020 insurer results season including gross written premium and combined operating ratio - detailing the impact of UK business interruption, weather, motor, home, non-business interruption Covid-19 claims, as well as mergers and…
Aviva has posted a combined operating ratio of 98.5% for its UK general insurance business in 2020, reporting growth across commercial lines and progress on its pledge to slash its available personal lines products by 80%.
There is “no magic bullet” Hiscox can use to remedy the hit to its reputation suffered through the long-running disputes over business interruption cover, the insurer’s global retail CEO Ben Walter has said.