Axa has estimated it will face €1.2bn (£1.07bn) in property and casualty coronavirus related costs along with spending €300m on ‘solidarity measures’.
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
The Financial Conduct Authority's test case may be driving some law firms to revise their roles in slated business interruption legal battles, but lawyers argue they will still have a part to play quantifying losses and settling disputes.
Eight insurers will participate in a High Court test case being prepared by the Financial Conduct Authority to rule on whether the wordings of business interruption policies provide cover to businesses hit by the coronavirus pandemic.
Amber Rudd, former Home Secretary, will lead one of six working groups set up by the Pandemic Re steering group.
Action group members challenging insurers over rejected coronavirus-related business interruption claims would be better off waiting for the outcome of the Financial Conduct Authority's test case before embarking on proceedings, an expert advising…
The executive director of the Chartered Institute of Loss Adjusters, Malcolm Hyde, offers a guided tour of how the association came into being, its ongoing dedication to professional standards and preparing for the challenges of tomorrow.
Joe Thelwell, CEO of Towergate Insurance Brokers, talks about organic growth, acquisitions and responding to the Covid-19 crisis as well as sharing how he started in insurance and what comes next for him and the business.
The Association of British Insurers missed the point in its response to a letter from One Voice Group, Stephen Gould, chairman of the hospitality representative body, told Post as he reiterated the call for leadership and engagement.
Very few people have 20/20 vision and there is no exception to this when looking forward to what impact the year 2020 will have on the reinsurance market writes Gavin Coull, London Forum of Insurance Lawyers executive committee member and partner at…
Nir Kossovsky, CEO of Steel City Re, pens an open letter to John Neal, CEO of Lloyd's of London, on the reputational crisis facing the insurance industry.
Law firm Edwin Coe has invited businesses that have been denied business interruption cover by Hiscox and RSA to join two group claims it is putting together, as litigation against insurers by rejected policyholders cover continues to proliferate.
Aviva has predicted it will see £200m in business interruption claims net of reinsurance.
Aviva and QBE face multimillion pound claims from a group of hospitality businesses that were denied cover when they sought to recoup pandemic-related losses.
Future events causing non-damage business interruption losses on the scale seen during the coronavirus pandemic could require a pan-European approach in addition to national pools and solutions, the president of the Federation of European Risk Management…
Paradoxically, uncertainty is the one certainty in today’s pandemic regime - the insurance industry is facing a far more indeterminate present and future writes Paul Coleman, managing director of NPA Insurance.
Some businesses that have had coronavirus-related claims rejected by Hiscox were told in writing prior to lockdown that they would be covered, according to an action group challenging the insurer.
An action group of 400 Hiscox business insurance policyholders is to launch an “expedited arbitration claim” against the insurer worth almost £40m.
With nations forced into lockdown, economies struggling and health systems under extreme pressure, the Covid-19 pandemic is one of the biggest challenges any of us has ever faced. But the crisis could also prove to be a much-needed catalyst for action on…
The Financial Conduct Authority has invited policyholders and brokers with unresolved Covid-19-related disputes with insurers over business interruption polices to put forward their arguments for why claims should be paid.
Zurich has predicted a $750m (£614m) property and casualty hit over the course of the year due to the coronavirus pandemic.
Pool Re boss Julian Enoizi spoke to Post senior reporter Emmanuel Kenning about Pandemic Re, the Office for National Statistics change in the terrorism reinsurer’s classification and using its funds to pay for business interruption claims in the…
Using Pool Re’s £6.6bn fund to pay coronavirus business interruption claims would not be the greatest idea, CEO Julian Enoizi told Post as part of an exclusive interview.
Ageas’ UK operations suffered a £23.5m hit from storms Dennis and Ciara, which drove it into a loss after tax of £2.7m for the first quarter of 2020.