SME
Alarm sounded on bookings business that sold unauthorised Covid cancellation cover
The Financial Conduct Authority has issued a warning against a bookings software provider that marketed a cancellation insurance product to owners of UK holiday lets, following an investigation by Post.
FCA consults on proving presence of Covid-19 for BI claims
The Financial Conduct Authority has launched a consultation on guidance to policyholders, insurers and intermediaries on how the presence of Covid-19 in a particular area may be proved for the purposes of business interruption claims.
Spotlight: Cyber - How have cyber risks changed since the Covid-19 pandemic started?
With millions of UK employees forced to work from home during the Covid-19 lockdowns, organisations are more aware than ever of the cyber risks they face. But, while many expect this to push up demand for cyber insurance, the new landscape could also…
Spotlight: Cyber - Unlocking opportunities for insurers and brokers in a shifting market
In today’s evolving cyber marketplace, insurers and brokers need to use this opportunity to offer new cyber insurance products and solutions to customers to help them assess and mitigate potential risks to their business
Analysis: Who are RSA buyers Intact and Tryg?
RSA's would-be co-owners Intact and Tryg intend to split the insurer once a deal closes. Post investigates what the parties' track records could mean for its future.
Local coronavirus cases did not cause national lockdown, BI insurers tell Supreme Court
The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on Monday as insurers began their appeal of the September judgment handed down in the Financial Conduct Authority’s business interruption test case.
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.
Coverys Lloyd's syndicate to stop accepting business and renewals from next year
Coverys-backed Lloyd’s Syndicate DTW 1991 is to stop accepting new and renewal business from 31 December 2020.
Amanda Blanc-led review finds flood cover dearth
A flood insurance review led by Aviva CEO Amanda Blanc has found that a significant proportion of households eligible for Flood Re supported policies are not offered flood cover.
Blog: SME insurance – what comes next?
Many SME insurers are looking to the future and considering how they can best support their customers in the ongoing pandemic environment and beyond. Sara Costantini managing director at Crif Decision Solutions, looks at why insurers need to re-engage…
Brightside to put MGA Kitsune into run-off
Brightside has decided to put car and van managing general agent Kitsune into run-off less than two years after it was launched, CEO Brendan McCafferty has revealed.
Insurers criticised for furlough payment deductions from BI claims
Insurers have been accused of “banking government money to reduce their loss by increasing the policyholder loss” as they faced criticism for deducting furlough payments from the value of business interruption claims.
Interim payments expected for BI policyholders with Marsh-authored RSA wording
Some businesses with policies that employ a Marsh wording can expect interim payments “imminently” following RSA’s decision not to appeal a High Court judgment, which found it provided cover for disruption caused by the coronavirus pandemic.
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: ERS' commercial push - a perfectly timed diversification
With the news that ERS is planning to enter 'specialist commercial' lines, Post content director Jonathan Swift asks if we can get any insights into what that might mean by looking at previous diversification plays, recent appointments and its IT…
Analysis: Lockdown legionella threat a public health and liability concern
Specialists across the insurance industry have voiced their concerns about the potential for a build-up of legionella bacteria in buildings left empty over lockdown.
Mike Keating keen to grow insurer member levels at MGAA
Recently appointed managing director of the Managing General Agents’ Association Mike Keating has set out his vision for the association with growth of insurer partners high on the agenda.
Fully Comp Episode One: How ready is the UK for future flood events?
Welcome to the first episode of Fully Comp, Insurance Post’s new regular video series tackling some of the biggest issues in insurance.
Pool Re urges insurers to support a 'vibrant' terrorism insurance market
Pool Re has published a forward-looking strategy looking at increasing the take up of catastrophe insurance by SMEs in light of current pandemic, ahead of its five-year review.
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.
Top 100 UK Insurers 2020
The 100 largest UK-regulated insurers reported a combined underwriting profit in 2019, albeit lower than in 2018. Bond yields fell in 2019, however, investment earnings benefited from the strong performance of equity markets. How will the impact of the…
Lloyd's insurers launch parametric product to cover SME IT downtime
Lloyd’s has launched a parametric insurance product to cover SME business interruption losses caused by IT disruption or downtime.
HG to own 20% of Hyperion as investment boosts ‘war chest’ to $1.5bn
When the transaction for HG to invest in Hyperion closes the private equity firm will hold “just over 20%” of the business, CEO David Howden told Post.
A-Plan buy cost 'approaching £700m', Howden confirms
Howden’s purchase of A-Plan for “approaching £700m” has created a business of scale that is a true “challenger broker”, according to David Howden, CEO of Hyperion Insurance Group.