Trade credit insurer Atradius has forecast that global insolvencies are set to rise for the first time in 10 years, with the UK facing the highest increase of all advanced markets.
The Financial Services Compensation Scheme has revealed that it has worked with a number of brokers to transfer around 165,000 Qudos motor and pet insurance policies to new providers.
The Financial Services Compensation Scheme has given CRL Management an extra two weeks to find an alternative insurer for its customers that were insured by collapsed Alpha Insurance.
Enterprise could pay out £101.4m more in UK claims than its administrators had predicted, largely owing to the Ogden rate hit on its motor book.
Exclusive: Gable CEO William Dewsall ignored “numerous requests” from administrators of his underwriting vehicle Hogarth Underwriting.
A hearing over the future of beleaguered insurer CBL has been postponed again in order for creditors to explore a rescue plan.
We may not have flying cars, humanoid robots and exaggerated shoulder pads, but there is every reason to believe that the 2019 predicted by 80s film Blade Runner, looks very slightly dystopian.
Failed unrated insurer Gable has disputed 100 claims totaling CHF 10.9m (£8.8m) in its first bankruptcy court hearing.
Qudos, the unrated Danish insurance company that was placed in liquidation last month, has been declared bankrupt.
CBL Corporation shareholder Oceanic Securities PTE has filed an opposition to the application to put the company in liquidation, leading to delays for the liquidation hearing.
The New Zealand High Court has granted a further application by CBL Corporation administrator Kordamentha to push back a watershed administration meeting to February 2019, though it is expected the corporation will be placed into liquidation.
Broker Larksway, which is currently in liquidation, has had its Financial Conduct Authority authorisation removed after the regulator alleged it failed to comply with a Financial Ombudsman Service ruling.
Danish unrated insurer Qudos plunged into liquidation yesterday, amid owner New Nordic’s lawsuit alleging that former owners Echelon “fraudulently reported” vital information prior to the 2017 sale of the insurer.
The owners of Danish unrated insurer Qudos have placed the business into liquidation, after it ceased to write new business in October.
Exclusive: Brokers that continue to use unrated capacity, despite the collapse of insurers like Alpha and Gable, could pay higher levies to the Financial Services Compensation Scheme next year.
Exclusive: Insurers that have complicated distribution models are failing to maintain accurate records of policyholders, the CEO of the Financial Services Compensation Scheme has warned.
Exclusive: Failed loss adjuster RIIG did not pay staff their full salaries for the 10 months prior to the company’s collapse.
In 2020 the International Association of Insurance Supervisors hopes to make key changes to how systemic risk in the insurance sector is measured and dealt with, in a move that could see more insurers face similar scrutiny to 'too big to fail' insurers…
The Reserve Bank of New Zealand has welcomed the liquidation of CBL Insurance and will be publishing a review into it next year.
CBL Insurance’s administrators had been working on a restructuring proposal, but the firm has been placed into liquidation.
The Financial Services Compensation Scheme has signed off on a deal that will see 10,700 customers of failed Danish insurer Alpha have their policies moved to Markerstudy.
Customers of a failed Leicester broker could be in line for compensation from the UK’s guarantee scheme.
Atradius' Stuart Ramsden on Brexit insolvencies - and credit insurance becoming a business essential
Brexit and other uncertainties have increased business insolvencies and demand for trade credit insurance, writes Stuart Ramsden, head of commercial for UK & Ireland at Atradius.
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…