Legal
FCA backtracks on exec and board gender reporting approach
The Financial Conduct Authority has scrubbed references to 'non-binary' and 'self-identifying' from executive and board statement target forms following a deluge of campaigner consultation responses.
LV, Axa and Keoghs smash fraud ring; Flood Re launches Build Back Better; Howden buys SPF; Go Insur backs start-up Insuristic
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Mulsanne ordered to pay 60% of Marshmallow's costs following legal battle
Mulsanne has been ordered to pay 60% of the costs incurred by Marshmallow during a recent legal battle between the insurer and its former broker.
Intelligence: Our duty to protect must begin now
Protect Duty legislation has been touted as a way to reduce the potential for catastrophic events from terrorist attacks at publicly accessible locations, and it is likely to affect public and employers’ liability polices. But, as Edmund Tirbutt reports,…
Insurers to save £2bn as Vnuk law set to be axed by the end of June
The controversial Vnuk law, which could have created an extra £2bn a year of costs for the insurance sector, is expected to be axed by the end of June as Motor Vehicles Bill passes through House of Lords’ committee stage with no amendments.
Settlement reached in Besso 'secret profits' case
Long-running litigation between Besso and a group of Caribbean hotel and resort companies has ended in an out-of-court settlement.
IBM ordered to pay another £80m after it unlawfully breached Co-op IT contract
The Court of Appeal has found that IBM must pay another £80.6m to the owner of Co-operative insurance due to breach of an IT contract in 2017.
Axa will not appeal Corbin & King BI verdict
Axa has decided not to appeal a £4.36m Commercial Court business interruption judgment against it.
Thatcham hails Mercedes’ move as 'milestone' in automated driving; Admiral strikes ADR deal; Marsh launches ESG rating; and MS Amlin commits to Net Zero
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Corbin & King judgment unlikely to curb BI aggregation legal actions
The Commercial Court’s findings with regard to quantum in the case of Corbin & King v Axa are unlikely to curb further litigation on questions of aggregation in business interruption claims, lawyers have told Post.
Analysis: Corbin & King £4.4m judgment tugs at BI claims door
The Corbin & King business interruption judgment has the potential to open up insurers to further and more costly claims, but with multiple factors at play there is no guarantee others will win out.
FCA 'considering' Corbin & King BI judgment impact
The Financial Conduct Authority is considering the impact of the recent legal judgment in the case between restaurant group Corbin & King and Axa.
Aviva in Zego tie-up; Ecclesiastical Insurance Group renamed Benefact; Mosaic to acquire Sirius Point Lloyd's arm; and Sedgwick buys UKA247
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
HSBC extends Marsh deal; Zurich to set up transformation Centre of Excellence; Pool Re completes expanded terrorism placement; and Howden acquires again
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva to give staff £1000 each in shares
Aviva has reported its highest gross written premium from continuing operations in "over a decade" and will grant its 22,000 employees £1000 each in shares.
Briefing: Walls closing in on insurers’ business interruption furlough savings
The pressure is mounting for insurers to rethink business interruption furlough savings, Post news editor Jen Frost argues in the wake of a landmark Australian judgment.
Corbin & King’s £4.4m victory against Axa opens insurers up to more and larger BI claims
The Commercial Court has ruled that Axa must indemnify restaurant group Corbin & King £4.36m for closures during the first year of the pandemic.
Daniel Wilkinson found not guilty in insurance awards sex assault case
Daniel Wilkinson has been cleared of groping a woman at an industry awards dinner in 2017.
Intelligence: Raising the AR bar
The insurance industry should not kid itself that it has no issues in its use of appointed representatives but, according to specialists, the FCA consultation should not strike fear into well-run businesses, writes Emmanuel Kenning.
Insurance awards groping allegations are ‘crazy’ says accused broker boss
Ex CGI commercial director Daniel Wilkinson has denied sexually assaulting a woman at an insurance industry awards celebration and labelled the complainant “opportunistic”.
Insurance HR director wanted alleged sexual assault brushed ‘under the carpet’, court told
In the second day of Daniel Wilkinson’s trial for alleged sexual assault, the court heard from a witness that CGI's HR director had suggested staff needed to brush accusations against the senior boss “under the carpet”.
Somerset Bridge and Leave EU appeals against ICO penalties come to an end
Somerset Bridge and Leave EU’s appeals against penalties imposed by the Information Commissioner’s Office in 2019 have come to an end, the former withdrawing its appeal while the latter's was dismissed after it failed to attend a hearing earlier this…
Inspire liquidators allege bounce back loan and record keeping issues
Andrew Fender, partner at Sanderlings, acting as liquidator of Inspire Insurance Service, has flagged concerns around cash, bounce back loans and record keeping in its first annual report on the insolvent business.
Court hears former broking boss 'grabbed' woman's bottom and crotch at insurance awards
Former CGI commercial director Daniel Wilkinson has pleaded not guilty to sexually assaulting a woman at an insurance industry awards dinner.