Legal
Analysis: FCA sets sights on broker failures
The Financial Conduct Authority’s Dear CEO letter at the start of September revisited its concerns about insurance intermediaries being at risk of financial failure during the Covid-19 crisis and the need to plan for orderly wind-downs.
Fully Comp episode 5: The insurance challenges of automated lane keeping systems
Welcome to the fifth episode of Fully Comp, Insurance Post’s new regular video series tackling some of the biggest issues in insurance.
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.
Other insurers unlikely to intervene after RSA declines to appeal 'outlier' Marsh BI wording, say lawyers
RSA’s decision not to appeal the High Court’s rulings with regards to a widely-used Marsh wording is unlikely to result in another insurer launching an appeal of its own, with would-be interveners facing significant hurdles according to lawyers.
Briefing: False hope is no antidote - a business interruption appeal is still firmly on the table
The world is devoting a lot of energy into finding a vaccine or ‘cure’ for Covid-19. We should know by now that false hope is not an antidote.
Failed Danish insurer and UK agent in legal battle over taxi driver policy premiums
The administrators of bankrupt Danish insurer Alpha are embroiled in a legal battle with UK-based J&M Insurance Services over £3.9m in premiums collected by the UK firm in the months leading up to unrated carrier’s collapse in May 2018.
RSA opts against appeal on Marsh wording in BI test case
RSA’s appeal of the High Court business interruption test case ruling only covers two policies, court documents have revealed, and does not include the Marsh/Jelf resilience (RSA4) wording shared by multiple insurers.
Crêperie's High Court BI case against Allianz thrown out by judge
Deputy Judge of the High Court Richard Salter QC has ruled in favour of Allianz in a business interruption and property damage legal dispute decision which he accepted may be “of consequence for other potential claimants” and “something of a footnote” to…
Fully Comp episode 3: Will parametrics live up to the hype - and could it ever enter the insurance mainstream?
Welcome to the third episode of Fully Comp, Insurance Post’s new regular video series tackling some of the biggest issues in insurance.
Blog: Scotland's 'local lockdowns' raise further questions for BI claims
Local lockdowns raise new questions about business interruption claims, particularly for the sector most affected by the latest measures: the hospitality industry. Forum of Insurance Lawyers members Laura McMillan, insurance and risk partner at Brodies,…
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.
Catastrophically injured claimant granted accommodation costs in landmark ruling
The Court of Appeal has rewritten the approach to calculating personal injury accommodation claims in a landmark judgment that awarded the claimant additional damages of £802,000 for the cost of special accommodation.
Briefing: The BI test case – QIC’s failed intervention and the ‘spirit of co-operation’
The business interruption test case is meant to be about co-operation to find clarity. Qatar Insurance Company’s attempt to intervene has rocked the boat.
Inquiry slams Ecclesiastical over evidence 'failings' in Church of England child abuse report
Insurer Ecclesiastical has faced criticism after failing to provide evidence “in a candid manner” during the Independent Inquiry into Child Sexual Abuse’s investigation into Anglican Church abuse.
Brightside’s Brendan McCafferty on why the insurance industry needs to get real on its social contract
The insurance industry needs to find the right answers quickly if it is going to rebuild its reputation with the public, particularly after the recent business interruption court case and dual pricing headlines, says Brightside CEO Brendan McCafferty.
Watchstone opens legal claim process against KPMG
Watchstone, formerly known as Quindell, has filed a claim against KPMG in the High Court believed to be related to the accountant’s 2013 audit of the business, which previously led to a £4.5m fine for KPMG and a public reprimand from the Financial…
Insurers to continue BI dispute at fast-tracked Supreme Court appeal
Six insurers and the Financial Conduct Authority have been granted permission to fast-track an appeal of last month’s business interruption test case judgment to the Supreme Court.
QIC cannot intervene in BI test case appeal
During Friday’s business interruption hearing, the court rejected an eleventh hour application by insurer QIC Europe Limited to intervene in the Financial Conduct Authority's test case.
Insurance Post Claims & Fraud Awards 2020: winners revealed
Today is the day we can finally reveal the winners of the Insurance Post Claims and Fraud Awards 2020.
FCA and seven insurers file 'precautionary' applications for Supreme Court BI test case appeal
The Financial Conduct Authority and seven out of the eight insurers involved in the regulator’s business interruption test case have filed applications to ‘leapfrog’ an appeal of the High Court judgment handed down earlier this month to the Supreme Court.
Government hits out at insurers over grant deductions from BI claims
John Glen MP, economic secretary to HM Treasury, has rebuked insurers deducting government grants from business interruption claims payments and warned of further action.
Swiss Re reveals further group streamlining
Swiss Re has announced plans to reorganise the legal entity structure of its corporate solutions business unit.
Whatever Google is doing on scams it is not working, says FCA chair
Charles Randell, chair of the Financial Conduct Authority has criticised Google and other social media and technology firms over the continuing proliferation of scams.