An action group of 400 Hiscox business insurance policyholders is to launch an “expedited arbitration claim” against the insurer worth almost £40m.
The Financial Conduct Authority has invited policyholders and brokers with unresolved Covid-19-related disputes with insurers over business interruption polices to put forward their arguments for why claims should be paid.
Pool Re boss Julian Enoizi spoke to Post senior reporter Emmanuel Kenning about Pandemic Re, the Office for National Statistics change in the terrorism reinsurer’s classification and using its funds to pay for business interruption claims in the…
Binding authority agreements, where managing general agents and other coverholders are authorised to underwrite on behalf of insurers, have been increasingly popular in recent years as insurers seek more diverse routes to premium income. With this…
Using Pool Re’s £6.6bn fund to pay coronavirus business interruption claims would not be the greatest idea, CEO Julian Enoizi told Post as part of an exclusive interview.
Kicking off the Post Claims Club Live digital event today we have a podcast recording featuring experts and industry professionals analysing the impact of Covid-19 on claims operations.
Mike Ledgerton, head of major loss at Questgates, reflects on the Court of Appeal decision in Endurance Corporate Capital Ltd v Sartex Quilts & Textiles Ltd., which has potentially far reaching consequences to the measure of indemnity.
Ransomware group Maze has published four sets of data labelled as “proof” of its hack of insurance giant Chubb.
A judge has ruled in favour of AIG in its application to substitute the named claimant on its claim against roofers and RSA, allowing the property damage claim to go ahead.
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
Allianz faces a potential group action lawsuit from policyholders that have had coronavirus-related business interruption claims rejected.
Insurance Covid-Cast episode eight: What is the insurance supply chain doing to keep the sector moving during the Covid-19 lockdown?
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we bought together a diverse group of businesses to discuss how the supply chain has forged deeper…
Exclusive: Insurers seeking to recoup losses from other classes, such as event cancellation and wedding insurance, are threatening policyholders involved in business interruption group actions against them with legal action.
Should there ever be a zombie apocalypse my friends, family and colleagues know that I fully expect to be the first to be picked off, equally should I ever be lost in the remote woods with a bunch of strangers and a monster on the loose I’d be the one at…
The two largest Hiscox policyholder business interruption action groups in the UK have formed a strategic alliance, together representing more than 500 businesses.
In this month's column, David Worsfold, a long-running commentator on the insurance market, explains why he fears the sector got off on the back foot on its business interruption coronavirus response, what Pandemic Re might look like and what impact the…
Insurers, brokers, premium finance lenders and more have been told by the Financial Conduct Authority to consider giving payment deferrals and refunds as well as waiving cancellation fees to customers hit financially by the coronavirus epidemic.
Jennette Newman, vice-president of the Forum of Insurance Lawyers and partner at Clyde & Co, discusses the legal developments around vicarious liability and what recent court cases such as those involving Barclays and Morrisons mean for insurers.
It clearly is not great for the insurance industry’s reputation “to be in a position where it has so many unhappy customers,” Huw Evans, director general of the Association of British Insurers has admitted.
A lawyer advising pubs and clubs mulling legal action against Hiscox over rejected business interruption claims has said the group won’t wait for the Financial Ombudsman Service to process complaints before launching arbitration proceedings.
Ecclesiastical’s rejection of business interruption claims relating to closures caused by coronavirus is being challenged by Marsh and an association of private schools, Post has learned.
Axa, China Taiping, RSA, Touchstone and Zurich have been named as potential group action targets by a hospitality business interruption action group.
Hiscox has this morning confirmed it is considering raising equity among other options as it seeks to combat the Covid-19 impact.
Market discussions around Pandemic Re options are crucial and serve a "noble purpose", Huw Evans director general of the Association of British Insurers told Post, as he confirmed the trade body is in discussion with Lloyd's and anticipates an invitation…