Property - commercial
Aviva report highlights need to 'act now' on UK climate risk
Aviva has published a seven step plan calling on the government and industry to prepare at risk homes, businesses and schools for weather events.
FM Global names Malcolm Roberts as CEO with Tom Lawson retiring at year end
FM Global has appointed executive vice-president Malcolm Roberts as president and elected him to the company’s board of directors as of 1 August ahead of succeeding Thomas Lawson as CEO from 1 January 2022.
Intelligent AI appoints ex-RSA leader Neil Strickland as CCO
Insurtech Intelligent AI has appointed Neil Strickland, former customer experience director at RSA, as chief commercial officer.
Biba 2021: 'Knee jerk' silent cyber reaction led to unintended consequences
The clampdown on silent cyber exposure has had unintended consequences for customers with some alterations too “broad brush”, according to Axa UK managing director, underwriting and technical services David Williams.
Insurer test case BI claims payouts to March revealed
Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
Briefing: Covid BI claims and indemnity period clawbacks
Businesses due Covid payouts with longer indemnity periods must be aware of clawbacks – and why it is a gamble whether they accept a full and final settlement now or let their cover run.
BI claims deductions should not leave businesses at 'an overall financial disadvantage', says HMT
Exclusive: Insurers should not make deductions from business interruption claims because insureds received government support during the pandemic if doing so leaves businesses at “an overall financial disadvantage”, the Economic Secretary to the Treasury…
Blog: Wildfires and the rising risk of ‘cascading’ natural disasters
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Blog: Underinsurance in a hardening market
Alistair Steward, Questgates director, mulls the problem of underinsurance for businesses facing a hardening market.
Blog: The business interruption imbalance – and the role of advice
Bruce Hepburn, CEO of Mactavish, argues that the business interruption fallout stems from an imbalance, and questions broker accountability over advice.
Commission-hungry claims firms target Covid-hit businesses
Claims firms and no-win-no-fee solicitors have ramped up attempts to get businesses to make Covid-related claims with them following the Supreme Court business interruption ruling – but insurance experts are concerned that fees could be as much as 40% of…
Briefing: Seven insurtechs to watch in 2021
For a sixth year running, Post content director Jonathan Swift scans the insurtech space and identifies up-and-coming businesses potentially worth watching over the next 12 months.
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.
For the record: The week in deals featuring Aviva, Dual, Revolut, Specialist Risk Group and Willis Towers Watson
Post wraps up the major insurance deals, launches and investments of the week
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.
Axa blames Lockton errors in defence to property developer's fire claim
Axa has blamed Lockton for issuing an incorrect certificate as the insurer estimated its liability for the damage portion of a property claim at £541,000 rather than the £1.7m being sought by property investor Aubrey Weis in a High Court action.
Blog: Environmental liability – a catastrophic cover gap
Judy Hadden, founder of James Hallam business Oilspill Insurance Services, considers the hot topic of environmental liability cover, which she argues may be difficult to explain and sell but is an important value add.
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.
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.
Blog: Why sprinklers should be mandatory in schools
Schools have a fire risk almost twice as high as other non-residential buildings, yet are poorly equipped to prevent a fire becoming a major disaster, according to new research by Zurich. Tilden Watson, Zurich Municipal head of education, explains why…
Wales flood claims volume low so far as UK braces for storms
Loss adjusters are on standby following flooding in parts of Wales yesterday, as the Met Office warned of storms across the United Kingdom.
Future Focus 2030: The future of property podcast - how IoT sensors, automation and granular data will shape the next decade
It is the year 2030. The explosion of internet of things devices has really taken hold impacting both the personal and commercial property markets.
QC calls on court to treat insurers fairly
Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter