Event insurance
Analysis: How Covid crashed the wedding market
Events were cancelled across the board this year due to Covid-19 but none could be much more emotive than the thousands of weddings that couldn’t go ahead. Post investigates how the insurance market responded.
Lloyd’s sees underlying underwriting improvement as Covid weighs on H1 result
Lloyd’s posted a £438m loss in the first half of 2020 driven by £2.4bn of Covid-19 claims, which added 18% to its combined operating ratio.
Analysis: Covid-19 event cancellations
Following the Covid-19 outbreak live events across the world had to be postponed or cancelled due to fears for public health and safety. Multibillion-dollar losses as a result of coronavirus has put the contingency market under the spotlight, while…
RSA to exit wedding insurance in early 2021
RSA will cease to underwrite wedding insurance when its John Lewis contract ends at the beginning of next year, Post has learned.
Swiss Re pegs H1 Covid-19 losses at $2.5bn
Swiss Re has predicted $2.5bn (£1.96bn) of pre-tax Covid-19 losses in the first six months of 2020 will drive its half year results to a $1.1bn loss.
Beazley post $13.8m half-year loss amid pandemic claims surge
Beazley has posted a pre-tax loss of $13.8m (£10.8m) for the first half of 2020 after seeing claims surge for its contingency and property divisions amid the Covid-19 pandemic.
Munich Re adds €700m to Covid impact total
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.
Wedding policyholders in ‘limbo’ despite message insurance would pay out
Great Lakes faces calls to pay out on wedding insurance after message on UK General-owned Weddingplan’s website suggested policyholders would be entitled to claim as long as cover was purchased pre-lockdown in ‘a particular area’.
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Axa forecasts €1.5bn coronavirus hit and halves dividend
Axa has estimated it will face €1.2bn (£1.07bn) in property and casualty coronavirus related costs along with spending €300m on ‘solidarity measures’.
Covid-19 will cost insurance industry $203bn, says Lloyd's
Lloyd’s of London has forecast that Covid-19 will cost the insurance industry $203bn (£166bn) in underwriting and investment losses, putting the pandemic on a par with century’s most catastrophic hurricane seasons.
Allianz CFO outlines potential €1bn plus Covid-19 hit
Allianz could see a €1bn (£882m) or more hit from the coronavirus pandemic across property and casualty, Allianz group chief financial officer Giulio Terzariol has cautioned.
Event insurance losses mount for Munich Re as it reports £700m Covid-19 hit
Munich Re today reported “high Covid-19 losses totaling €800m (£699.43m), particularly in event insurance” as it posted results for the first quarter of 2020.
SMEs face legal threats from same insurers that are not paying out on their BI policies
Exclusive: Insurers seeking to recoup losses from other classes, such as event cancellation and wedding insurance, are threatening policyholders involved in business interruption group actions against them with legal action.
UK and US insured losses could hit $80bn under year-long lockdown: WTW
The UK and US insurance markets face losses of $80bn (£64bn) if lockdowns and social distancing measures to curb the spread of the coronavirus need to be kept in place for 12 months, according to Willis Towers Watson.
Swiss Re predicts further credit and surety losses as events bulk up $476m coronavirus hit
Swiss Re’s first quarter earnings were pushed into the red by a $476m hit from the coronavirus pandemic to its property and casualty businesses, driven by event cancellation and postponement.
Markel confirms Olympics, Wimbledon, UK BI claims exposure
Markel yesterday confirmed its event cancellation book includes Wimbledon and the Olympics, while it will also pay out on some UK business interruption claims.
British insurers expect £900m in coronavirus BI claim payouts
Insurers are expecting to payout £900m towards UK business interruption claims, latest figures from the Association of British Insurers show.
Insurers and organisers count cost of events cancelled by coronavirus
Organisers and event insurers face uncertainty over what cancellations stemming from the ongoing Covid-19 coronavirus outbreak will cost them, as wordings are pored over and new policies have cover for the virus stripped out.
Blog: Why equine and livestock risks could cause insurers to lose more than their shirts
The outbreak of equine flu across the UK during January and February grabbed the headlines but, despite this, it was always unlikely to be a major concern for equine insurers, argues Graham Plaister, livestock and equine specialist at Sedgwick…
Insurance Data & Analytics 2015 as it happened
Couldn't make it to the Radisson Bloomsbury for Post's Insurance Data & Analytics event?
Blog: Live entertainment - a risky business if you're not protecte
In the UK alone, independent music festivals are now worth an estimated £1billion to the economy. And as festivals continue to grow in popularity and profitability, so too does the amount of money being invested.
Rolling Stones in legal battle over cancelled Australia concerts
The Rolling Stones are in a legal battle over a payout in lost earnings for their cancelled tour dates in Australia and New Zealand.
Hiscox bolsters events offering with Event Assured acquisition
Hiscox has reached an agreement with Applewell to acquire events insurance provider Event Assured.