The government’s understanding of insurance contracts is fundamentally flawed and endangers the chances of its expectations with respect to Covid-related business interruption claims being met, claims dispute expert Roger Flaxman has said.
For the record: Chubb bids $23bn for rival; Amazon to sell SME insurance; RAC launches pay per mile cover and London team swaps AFL for SRG
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
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…
Law firm Mishcon de Reya, which represented the Hiscox Action Group in the business interruption insurance test case, has revealed it has seen instructions concerning the emergence of disputes in the global reinsurance market.
The Covid-19 crisis has turbo charged the market to make digital changes in months rather than years but there is still more to be done for brokers to stay relevant, says Brendan McCafferty, CEO of Brightside Group.
Photographers have criticised Hiscox for the way in which the insurer has handled lockdown-related business interruption claims, with the head of a professional association calling the continued delay of settlements "intolerable".
For the record: Brightside sold to Markerstudy; Aviva acquires Axa XL HNW team; Aston Lark buys Bruce Stevenson and Inflexion invests in broking again
Post wraps up the major insurance deals, launches and investments of the week
Aviva has posted a combined operating ratio of 98.5% for its UK general insurance business in 2020, reporting growth across commercial lines and progress on its pledge to slash its available personal lines products by 80%.
JM Glendinning has invested in a management buyout of Liverpool-based Butterworth Spengler to become the majority owner, Post can reveal.
After a year dominated by the Covid-19 crisis and Brexit, Liiba leader Chris Croft discusses the future of the trade association and London Market with Emmanuel Kenning, his passion for the Americas and how he got into insurance after working on rail…
Brokers have called for the insurance industry to kick back against the increase in their Financial Services Compensation Scheme levy with the sector’s bill set to more than triple to £146.8m in 2021/22.
Steve White, CEO of the British Insurance Brokers' Association, argues that sweeping headlines in the wake of last month's Supreme Court business interruption test case judgment haven't helped anybody.
Businesses have been stretched and tested over the last year, and in the move to increasing their digital presence and enabling employees to work from home, they are inadvertently leaving themselves exposed to cyber criminals, says Phil Bayles, chief…
For the Record: Ardonagh’s Australian M&A push; Axa in Co-op Bank tie-up; Rock diversifies with new MGA and SSP takeover gets FCA greenlight
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
There was a record £10.5bn of UK insurance distribution mergers and acquisitions in 2020, according to research by Imas, Post can reveal.
Global Risk Partners has agreed to buy Marsh’s UK networks for an undisclosed sum in a deal expected to close next quarter.
The Covid-19 pandemic has not led to market failures in the UK insurance sector, James Dalton, director of general insurance policy at the Association of British Insurers, has said.
Assurant’s Europe boss Christian Formby tells Post how he came into the role, explains the growth opportunities for its B2B2C connected home, lifestyle and car offering and discusses how it faces competition from all angles, despite having no similar…
Disputes over furlough deductions from BI claims continue as adjusters and assessors call for clear guidance
Loss adjusters and assessors have called on the government and regulators to publish clear guidance on how government support received by businesses is to be treated in respect of lockdown-related interruption claims.
The impact of an unstable 2020 is not completely bleak, with an increase in the number of UK start-ups since the pandemic began. Oliver Leyens, a director at Heath Crawford, argues brokers need to highlight the benefit of an advised sale to make sure…
Last October saw the launch of Peach Pi, an insurance brand pitching itself to the UK’s micro-SMEs, freelancers and entrepreneurs. Harry Curtis caught up with managing director, Paul Coleman and Allison Hughes, head of distribution to learn about how the…
Broker-only motor insurer ERS has the chance to make its mark in the commercial sector but will need to recruit well and target niche larger risks.
As the industry responds to the Financial Conduct Authority’s pricing shake-up and tackles the ongoing challenges of the coronavirus pandemic Heather Smith, managing director of the LV General Insurance retail business, addresses why having a trusted…
FCA will use ‘full range’ of regulatory tools and powers to ensure insurers meet expectations after BI ruling
The Financial Conduct Authority has set out the next steps it expects insurers to take after the Supreme Court judgment on the Covid-19 business interruption claims test case last Friday.