Business interruption
Impact of UK riots should not affect insurer ratings
Insurers have been reassured that the ongoing riots being carried out across the UK should have no impact on company ratings.
London riots could cost industry “several tens of millions of pounds”
Damage from the London riots will cost insurers “a lot of money”, Alister Jupp, major loss London director at Cunningham Lindsey has told Post.
Allianz beats Aviva and Zurich in resort deal
Allianz Commercial has landed a £200 000 three-year deal with a luxury spa resort and golf club that hosted the Ryder Cup last year.
JLT warns pharma firms of non-damage risks
Broker JLT claims regulatory fears, intellectual property risks and counterfeiting are driving demand for its EPIC non-damage business interruption product developed for the life science and pharmaceuticals market
Commercial property - Business interruption: Dealing with disruption
Deficiencies in business interruption policies have long been a source of debate, but what can be done to improve them, asks Veronica Cowan.
Eurotunnel confident of Aon settlement after claim withdrawn
Eurostar and SNCF, its majority shareholder, have withdrawn the claim they have been pursuing against Eurotunnel’s insurers for the past two years.
Insurers in the dark over E-coli outbreak
A Lockton broker has warned insurers remain in the dark over their exposure to a widespread E-coli outbreak that has killed at least 22 people and left hundreds seriously ill.
Cyber risks - Liability update: Privacy policed
Public and political awareness of cyber risks is on the rise as high-profile cases hit the headlines. Patrick Hill and Hans Allnutt review the effectiveness of existing cover options and detail unconventional developments.
Airmic 2011: Global insurance compliance is fastest-rising concern
The compliance of global insurance programmes is the fastest-rising concern amongst Airmic members, according to the result of the risk management association’s latest survey, ranking second only to reputational risk as their main worry.
Airmic 2011: Property rates to remain static, says Willis
The cost of commercial property and business interruption cover remains at an historic low, the latest Airmic-Advisen benchmarking survey of 135 Airmic members has found.
Cyber liability - Iberian peninsula
European firms are increasingly being targeted by cyber criminals but there is no ‘one size fits all’ solution to legislation to protect the customer. Paul Skinner examines what firms need to do to ensure they have adequate risk mitigation and loss…
Property claims: UK businesses have failed to respond to roof collapse threat
The severity of the winter 2010 cold snap exposed a lack of preparedness by UK businesses, according to Huw Chandler, property risk engineering practice leader at XL Insurance.
Property claims: Marsh admits to 'red flag' concerns
Insurance broker Marsh warned that policyholders are still failing to buy sufficient indemnity periods as part of their business interruption cover.
Comment - e-trading: the future of commercial
E-trading in the commercial market is on the way. Dawn Dillaway looks at why this innovation will be a game-changer for the sector and why the critics are wrong.
Willis: sufficient coverage harder to retain in politically volatile regions
A report from Willis has revealed that companies operating in politically volatile regions of the world may soon struggle to retain sufficient insurance coverage to protect their assets and staff.
Overseas focus - China: a market of opportunity?
With an enormous population and low insurance penetration, China should be a market ripe for entering. Jakki May finds out it isn't as simple as it sounds but reveals an appetite for change and growth.
Litigation fears in wake of NZ quake
The New Zealand earthquakes in September 2010 and February 2011 have left some brokers and insurers at risk of litigation, the chief executive of Cunningham Lindsey's New Zealand operation has warned.
Fears mount over Japan BI claims
Insurers are bracing themselves for substantial business interruption claims following the earthquake in Japan, loss adjusters have warned.
Software start-up eyes 500 000 policies
Start-up broker software provider Wanna Insure has set a target to write 500 000 policies by the end of its third year of trading.
Risk report attacks industry failures
The insurance industry's failure to make significant changes to the "deficient" commercial lines sector has been "wholly unacceptable", according to research firm Mactavish.
Major loss: meeting the challenges of major loss
With the global nature of modern business exposing insurers to a variety of major loss challenges, Trevor Latimer assesses the consequences.
Allianz calls on brokers to better BI basics
Allianz insurance has urged brokers to go “back to basics” to ensure more commercial customers are provided with adequate business interruption cover.
Chilean earthquake – insurance lessons learnt one year on
Lessons learnt from the massive earthquake that struck Chile 12 months ago should facilitate the future handling of complex business interruption claims, says Jenny Larner.
Middle East policies may face court challenges
Commercial insurance policies that exclude political risk are likely to come under scrutiny by courts in the Middle East, following civil unrest in the region.