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.
Frustrated policyholders call for insurers to ‘take responsibility’ after Supreme Court rules many are due payouts
Policyholders and their representatives have called for insurers to “take responsibility” and “immediately start paying claims” in the wake of a bittersweet Supreme Court judgment on disputed coronavirus-related business interruption policies.
Insurers have been found hugely wanting by a business interruption judgment that is a victory for common sense. But the struggle is not over yet, for them or their customers.
A lawyer representing Hiscox's business interruption policyholders has called a statement by the insurer stating that fewer than one third of its policies may pay out following this morning’s Supreme Court judgment “misleading”.
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.
Former Liberal Democrat leader Tim Farron has called the conduct of insurers during the coronavirus pandemic “deeply depressing” and urged the Chancellor of the Exchequer to “take steps to protect insurance customers from the actions of insurers”.
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.
Zurich UK CEO Tulsi Naidu will become the firm's Asia Pacific CEO in Singapore from 1 January 2021. She spoke to Post about her tenure in the UK, the importance of transparency and the challenges facing the market.
Insurers and policyholders will have to wait until next year for the final outcome of the Financial Conduct Authority-led business interruption test case, according to an update from the regulator.
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.
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.
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…
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
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.
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.
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-backed Lloyd’s Syndicate DTW 1991 is to stop accepting new and renewal business from 31 December 2020.
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.
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 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 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.
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.
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…