Legal
Analysis: Business interruption late payment claims a 'live issue'
Insurers could still face claims for damages relating to the late payment of Covid-19 business interruption claims under an as yet untested part of the law, according to lawyers.
Vast majority of public unaware of whiplash portal
Exclusive: Most of the general public are unaware of the new Official Injury Claim whiplash portal, a survey commissioned by Post has shown.
Government names John Edwards as preferred pick to lead ICO
The government has named John Edwards, currently New Zealand’s privacy commissioner, as its choice to succeed Elizabeth Denham as the next information commissioner and revealed plans to consult on reforms to the UK’s data regime.
ABI publishes child sexual abuse claims code in response to inquiry
The Association of British Insurers has this month published a code of conduct for insurers handling child sexual abuse claims, following criticism of tactics by an inquiry.
Intelligence: Insurance and politics - a story of slow progress
From when the All Party Parliamentary Group on Insurance & Financial Services was established in 1991 to the infamous 10 Downing Street summit on Valentine’s Day 2012 insurance and politics often cross paths. Post investigates the impact insurance has…
Zurich’s Peter Hamilton appointed disability and access ambassador for government disability unit
Zurich’s head of market engagement Peter Hamilton has been picked by the government to represent the insurance sector as one of 12 new disability and access ambassadors.
FCA looking into Besso ‘secret profits’ allegations
The Financial Conduct Authority’s supervision team has sought further documents relating to a hotel group’s $10m “secret profit” allegations against Besso, Post understands.
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”.
Blog: Securing peace of mind in the wellbeing sector
Peach Pi underwriter Maria Naghshbandi considers the cover and claim minefield for practitioners operating in the widely unregulated wellness sector.
US DOJ investigation 'credit negative' for Allianz says Moody’s
The US Department of Justice is investigating the Structured Alpha funds managed by Allianz Global Investors, which according to Moody’s “increases the risk of a material financial and reputational fallout”.
Blog: Not everyone wants their day in court - why the whiplash reforms can benefit from ADR
The Official Injury Claim portal was launched to the public two months ago, but Tim Wallis, chair of Trust Arbitration, suggests the introduction of alternative dispute resolution might be necessary for claimants, insurers, and law firms to realise the…
Case: Refusal to compromise client and colleague priorities behind merger cancellation
Aon CEO Greg Case has stressed in a letter to clients that the broker was confident of winning the US Department of Justice court case as he laid out the reasons for walking away from the Willis Towers Watson deal.
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.
Aon-WTW merger cancelled after DOJ legal impasse
Aon and Willis Towers Watson have ended their merger plans, citing the “impasse” with the US Department of Justice.
Blog: You can’t make me - the challenges of returning to office-based working
As the government's advice to work from home comes to an end, Michael Jenkins, head of legal advice at Arc Legal Assistance, explains what employees and employers can do.
Blog: What does VW Group’s €270m D&O payment mean for 'Dieselgate' D&O coverage?
The VW Group is looking to claw back €270m from its insurers in directors' and officers' claims but Guy Robson, partner at group action law firm Keller Lenkner UK, asks what this might mean for D&O insurance for vehicle manufacturers in the future?
IGI sets up European subsidiary; Ardonagh establishes Irish data hub; Howden launches climate risk arm; Swiss Re backs BP EV trial
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Flood Re confident on lowering levy to £135m for next financial year
Flood Re is confident that its build back better proposals and reduced insurer levy will soon get government approval, CEO Andy Bord has confirmed, as he detailed plans for the organisation to buy lower limits in its own reinsurance programme.
Staysure acquires Rock, Esure joins forces with Minster Law, and Allianz invests in Heycar
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Stuart Forsyth describes 'hellish experience' as Upper Tribunal overturns fine and ban by ruling against FCA and PRA
Stuart Forsyth, the former CEO of Scottish Boatowners Mutual Insurance, has called on regulators to “learn from the errors they made in my case and work to restore the faith of regulated professionals” as the Upper Tribunal overturned his fine and ban.
FCA delays to approving c-suite broker roles slammed as outrageous
Compliance experts have advised brokers to add time into their recruitment plans for c-suite positions to account for “backlogs” in the Financial Conduct Authority’s approval process as one leading broker hit out at the “ridiculous” delays.
FCA ‘Dear CEO letter’ warns brokers about client money amid concern of widespread non-compliance
The Financial Conduct Authority has issued a stark warning to brokers about client money shortcomings it has seen in the market stressing that it will take action.
Intelligence: CSR is dead, long live ESG
Although environmental, social, and governance issues have been mentioned as far back as 2006 by the United Nations with other sectors seeing it incorporated into their financial evaluations, insurance is only recently picking up the buzzword. Post…
Google reveals FCA authorisation ad rule to target scammers
Google’s decision to only allow regulated firms to place financial services adverts targeting UK consumers has received a measured response from the Financial Conduct Authority, while a law firm has warned the devil will be in the detail.