Fire
PI Analysis: Construction sector locked out by high rising premiums
Many companies in the construction sector are struggling to obtain professional indemnity insurance cover, with the Grenfell Tower fire and the building safety crisis key drivers of premium hardening and exclusions.
Spotlight: Sustainability - Driving down carbon emissions in the construction industry
In 2021, the conversation around climate change has evolved at pace. As a major contributor to carbon emissions the construction industry has a key role to play in driving down carbon emissions – could the use of timber solutions help achieve this?…
Helping leaseholders caught up in the cladding crisis in insurance sector's 'reputational interests', says Shadow Economic Secretary
The insurance industry should work to help leaseholders affected by the cladding crisis in order to service not only the national interest but its reputational interests, attendees at the Association of British Insurers’ annual conference have heard.
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
Blog: Wildfires and the rising risk of ‘cascading’ natural disasters
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Engineers carrying out cladding assessments will be able to avail of state-backed PI cover
The government has committed to a state-backed indemnity scheme for fire safety engineers who are unable to obtain professional indemnity insurance, as it announced an additional £3.5bn in funding for the removal of cladding from buildings 18m in height…
Inside Out: I am a broker and a leaseholder – insurers and FCA must push for cladding crisis solution
Post invites industry insiders affected by key issues they believe insurance is getting ‘inside out’ to share their perspective and state their case for change. Here a broker talks about how leaseholders are getting a rough deal.
Zurich offers free counselling to claimants
Zurich is to offer policyholders that make a claim free counselling sessions, following a nine-month pilot last year.
Committee calls for government PI scheme for fire risk assessors
The government faces calls to act as an insurer of last resort for fire safety engineers’ professional indemnity insurance.
ABI refutes suggestions insurers may be ‘profiteering’ in wake of cladding scandal
Following criticism from television personality Jeremy Clarkson and minister Lord Stephen Greenhalgh, the Association of British Insurers told Post it refutes suggestions its members may be “profiteering” from the cladding and fire safety scandal.
Property developer rejects Axa counterclaim in fire damage case
Property investor Aubrey Weis and his company Elcombe have denied Axa’s counterclaim and the issues set out in the provider’s defence document in the ongoing legal dispute over a £1.7m claim.
Blog: Practical completion – No such thing as load-bearing paint
Clark Gardiner, Ensurance senior underwriter, considers how Covid-19 has muddied the waters where it comes to practical completion in construction.
Trade Voice: ABI’s James Dalton on the opportunities to reset the GI dial in 2021
James Dalton, director of general insurance policy at the Association of British Insurers, previews a packed 2021 agenda that could shape the future of the industry for years to come as it emerges from Covid-19’s long shadow.
CPC flags Lockton admissions in ongoing court case
Combined Property Control has reported that it will rely on admissions made by Lockton as it replied to the broker’s defence document submitted to the High Court in their ongoing legal dispute.
Axa blames Lockton errors in defence to property developer's fire claim
Axa has blamed Lockton for issuing an incorrect certificate as the insurer estimated its liability for the damage portion of a property claim at £541,000 rather than the £1.7m being sought by property investor Aubrey Weis in a High Court action.
Top 30 Asia-Pacific Insurers: Bracing for uncertainty
Although non-life insurers in Asia performed modestly in 2019, the past nine months has been bumpy for the industry. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, discusses the region’s performance over the past year
Peter Zaffino to succeed Brian Duperreault as AIG CEO
Peter Zaffino, AIG president and global chief operating officer, will succeed Brian Duperrault as AIG CEO in March 2021.
Lockton denies fraud as Axa hit with legal action
Broker Lockton has denied acting fraudulently regarding a property developer’s claim, as fresh legal action was brought against insurer Axa.
Analysis: Cladding, waking watches and PI - the ongoing fire safety liability battle
Insurers are facing criticism from residents of high rise buildings over insurance costs, waking watch requirements and taking an overly "binary" approach, while professional indemnity insurance access is driving a fire risk assessor crisis.
Analysis: An insurance fraud epidemic?
The predicted coronavirus-related economic hit is being compared to the 2008 recession, with financial pressure a driver of insurance fraud.
East West Insurance enters administration as tower block fire safety claims mount
The High Court has put structural defects specialist East West Insurance Company, which purchased a portfolio from Zurich in 2018, into administration and appointed Ernst & Young as administrators.
Blog: Why sprinklers should be mandatory in schools
Schools have a fire risk almost twice as high as other non-residential buildings, yet are poorly equipped to prevent a fire becoming a major disaster, according to new research by Zurich. Tilden Watson, Zurich Municipal head of education, explains why…
Lockton accused of forging Axa documents in High Court fraud case
Property investor Aubrey Weis has accused Lockton of forging Axa documents and altering an insurance certificate issued to his company Combined Property Control in a filing at the High Court of Justice in London.
Analysis: Beirut blast – cost of humanitarian crisis could top $10bn
The explosion in Beirut, Lebanon at around 6pm local time on Tuesday 4 August tragically killed at least 157 people and wounded another 5000, with more than a hundred still missing as rescue efforts continue.