Business interruption
Stonegate pub chain 'has no further claim' argue insurers in £845m BI case
MS Amlin, Liberty Mutual and Zurich have argued that pub chain Stonegate “has no further claim” against them and that even if it did, its £845m claim estimate is “hugely overstated”.
Axa launches digital claims; Moody's strikes deal for RMS; ABI reports motor rates at five year low; industry bodies warn on escape of water; and MS Amlin invests in ESG MGA
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Hiscox/HAG arbitrators said furlough should not be deducted from BI payouts
The arbitrators who heard the dispute over business interruption claims between Hiscox and the Hiscox Action Group said that furlough payments ought not to be deducted from claims awards, Post can reveal.
Pub chain Stonegate's BI policy limits challenge could spell trouble for insurers
A business interruption claim for Covid-19 losses brought by the Stonegate Pub Company against three insurers could cause the cost of the pandemic to the wider insurance market to rocket if it is successful, lawyers have told Post.
Trade Voice: MGAA's Mike Keating charts the course ahead for MGAs
Managing general agents' relative nimbleness, which served them well during the pandemic, as well as clever use of data are the keys for the sector moving forwards as insurers shift their expectations with the hardening market, says Managing General…
Hiscox CEO Bronek Masojada to retire as insurer names successor
Hiscox CEO Bronek Masojada, who has been in post for 21 years, intends to retire at the end of the year.
View from the Top video: Supporting SMEs post Covid-19: the role of insurers and brokers
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Neil Galjaard, divisional managing director, Markel talks about the huge negativity around Covid-19 claims in the mainstream press.
FCA pledges more accountability after recent parliamentary criticism
The Financial Conduct Authority committed to becoming a more ‘innovative, adaptive and assertive regulator’ as it published its annual business plan.
View from the Top video: Reflections on the pandemic with Gallagher’s Sue Langley
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Sue Langley, non-executive director at Gallagher, speaks about how brokers and insurers can repair the reputational damage done to the industry by the pandemic.
Covid-19 pandemic drives Biba turnover down 36%
The British Insurance Brokers’ Association’s turnover fell by 36% in 2020, however, funds ticked up slightly to just over £4m in the period.
Aviva tops inaugural ESG scoring index
Aviva achieved the best environmental, social and governance sentiment in the first quarter of 2021, according to a new benchmark from business intelligence firm Alva.
Climate Wise outlines priorities; WTW claims Lloyd's digital first with Ki; AIG publishes ESG report; Freedom secures funding
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Analysis: The CMCs out of scope
When the Financial Conduct Authority took over claims management company regulation in 2019, it fired warning shots at the sector. Should the regulator’s remit be widened to cover those firms that don’t come under its surveillance?
PIB presses 'pause' on recommending Hiscox to clients after Covid crisis response
PIB has hit pause on recommending Hiscox to customers but has not ended its agency with the insurer, Post can reveal.
Hiscox settles arbitration with business interruption action group
Hiscox has reached a settlement in arbitration proceedings brought against it by an action group of businesses for business interruption losses suffered during last year’s first coronavirus lockdown.
Trade Voice: CILA's Malcolm Hyde on the importance of a united front
For Malcolm Hyde, executive director of the Chartered Institute of Loss Adjusters, the insurance industry's pandemic business interruption headache underscores the importance of a united approach beyond lockdown.
Analysis: Tackling the Covid-19 business interruption surge
Insurers have paid out final settlements or interim payments on more than 20,000 business interruption claims related to the Supreme Court's January verdict, with Financial Conduct Authority figures and broker testimony suggesting that payout processing…
Hiscox BI claims process 'beginning to work' says Masojada as insurer plays catch up
Exclusive: Hiscox CEO Bronek Masojada spoke to Post about the insurer's business interruption claims handling, sharing details on its 200-strong claims surge team, why it was a 'bit slow in getting going', and shedding light on its collaboration with…
Tackling climate change top of ABI agenda, says Huw Evans
The Association of British Insurers has been working hard on an industry roadmap for tackling climate change and is aiming to publish its findings on 7 July, director general Huw Evans told the audience of the Post LIVE annual conference.
Blog: Insurance's trust problem
Edelman Smithfield senior director Aidan Holloway considers the reputation-geared findings of the firm's recent research on trust in insurance.
RSA targeting motor and SME, says CEO Scott Egan as takeover completes
RSA is in a “cracking place” and ahead of where it would expect to be, according to Scott Egan CEO for the UK and international.
Q&A: John Fowle, Chaucer
John Fowle, CEO of Chaucer, tells Post all about growth, being owned by China Re and the plans for the next 12 months as well as why the business undertook its recent rebranding and the importance of diversity and inclusion.
Interview: Nick Turner, NFU Mutual
After a tricky year as Chartered Insurance Institute president Nick Turner has stepped up as NFU Mutual group CEO. He talks to Stephanie Denton about insuring the most dangerous profession in the UK, accepting the golden ticket and why constant movement…
Reich targeting £120m GWP within five years
Reich is on track to hit its £100m of gross written premium target for 2022 and will push on to £120m over the next five years, CEO Simon Taylor told Post.