Liability
For the Record: The week in deals featuring Allianz, Clyde & Co, Convex, Gallagher, Howden, Kennedys, LV, New Dawn Risk and Woodgate & Clark
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
ABI refutes suggestions insurers may be ‘profiteering’ in wake of cladding scandal
Following criticism from television personality Jeremy Clarkson and minister Lord Stephen Greenhalgh, the Association of British Insurers told Post it refutes suggestions its members may be “profiteering” from the cladding and fire safety scandal.
Property developer rejects Axa counterclaim in fire damage case
Property investor Aubrey Weis and his company Elcombe have denied Axa’s counterclaim and the issues set out in the provider’s defence document in the ongoing legal dispute over a £1.7m claim.
Intelligence: Gaming the new frontier
The insurance needs of the gaming sector are complicated and ever evolving but there are plenty of opportunities for those prepared to immerse themselves in this flourishing market.
Iprism swings back to profit in 2020
Iprism Underwriting Agency has returned to profit in 2020 with a bottom line result of £435,365 reversing its £761,988 loss the year before when it was hit by restructuring costs.
Cécile Fresneau adds syndicate active underwriter role at QBE as David Harries retires
David Harries, active underwriter of QBE Syndicate 386 and head of financial lines will be stepping down and handing over to UK insurance executive director Cécile Fresneau, the provider has confirmed.
Personal injury claimants mired in £240m pandemic litigation backlog for over a year
Road traffic accident claimants have waited over a year just for their cases to be heard in court due to backlogs exacerbated by the Covid-19 pandemic, according to an analysis of Ministry of Justice figures by Zurich.
Modest hardening in UK property reinsurance as European motor ticks up
The annual 1 January reinsurance renewal season delivered firmer pricing for UK property risks, according to Willis Re as its figures also indicated another year of strong rises in motor.
Blog: Practical completion – No such thing as load-bearing paint
Clark Gardiner, Ensurance senior underwriter, considers how Covid-19 has muddied the waters where it comes to practical completion in construction.
Analysis: From bench to bed – insuring vaccine distribution
The insurance industry has reacted well to the challenge of covering the needs of those producing and transporting Covid-19 vaccines around the world and across the UK, experts tell Post, predicting it will continue to play its part in supporting efforts…
CPC flags Lockton admissions in ongoing court case
Combined Property Control has reported that it will rely on admissions made by Lockton as it replied to the broker’s defence document submitted to the High Court in their ongoing legal dispute.
For the record: The week in deals featuring Covea, Davies, Inigo and Zurich
Post wraps up the major insurance deals of the week.
East West administrators reveal 194 open claims and £165m shortfall
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
Supreme Court clarifies arbitration bias in Deepwater Horizon Chubb ruling
The Supreme Court has dismissed an appeal in the case of Halliburton v Chubb Bermuda Insurance, ruling in favour of the insurer on an arbitration issue in a Deepwater Horizon case.
FCA urges Lloyd's and London market insurers to behave 'ethically' in face of Covid-19
The Financial Conduct Authority has written to Lloyd’s and London Market insurers instructing them to “behave ethically and responsibly in the way they treat their customers, their employees and their counterparties” during the pandemic.
PWC pulls Slater & Gordon into £63m Watchstone case
PWC has filed a claim against Slater & Gordon as it brought out its defence in the legal dispute with Watchstone, which is seeking £63m in damages from the accountants for alleged breaches of contract, confidence and fiduciary duty as well as conspiracy.
Orient Express: What if the Supreme Court goes against precedent in the FCA BI test case?
During the High Court hearing of the Financial Conduct Authority’s business interruption test case, the regulator argued that reversing the judgment in the historic Orient Express case would “restore sanity”. If the Supreme Court chooses to overrule the…
Insurers urge MOJ for an early Christmas present of the rules for the whiplash portal
Insurers have urged the Ministry of Justice to release the rules for the whiplash portal as soon as possible, after delays earlier this year.
Insurers and FCA clash on trends clauses in Supreme Court BI test case
Insurer defendants and the Financial Conduct Authority set out their starkly differing views on the use of trends clauses on day two of the ongoing business interruption test case hearing at the Supreme Court.
Miller to expand employee ownership after sale
The existing partners of Miller will be reinvesting into the business to keep a “substantial minority ownership” and targeting broader employee ownership as part of the deal that sees the firm switch hands from Willis Towers Watson to Cinven and GIC.
Analysis: BI claims 'avalanche' warning as loss adjusters look to tech
Loss adjusters are looking to technology to deal with business interruption claims, with the market preparing for a possible influx following the upcoming Supreme Court test case review.
Zurich and Scor face $18m High Court claim from Experian
Zurich and Scor face an $18m (£13.7m) legal claim from consumer credit reporting company Experian, relating to a layer of excess of loss cover underwritten by the two insurers that was in place between 2015 and 2016.
Blog: Working from home - the insurance risks
The mass migration to working from home may well result in a wave of claims for back pain, mental health, stress, and repetitive strain injuries, warns BLM head of casualty Simon Jones.
Top 30 Asia-Pacific Insurers: Bracing for uncertainty
Although non-life insurers in Asia performed modestly in 2019, the past nine months has been bumpy for the industry. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, discusses the region’s performance over the past year