Some businesses that have had coronavirus-related claims rejected by Hiscox were told in writing prior to lockdown that they would be covered, according to an action group challenging the insurer.
An action group of 400 Hiscox business insurance policyholders is to launch an “expedited arbitration claim” against the insurer worth almost £40m.
The Financial Conduct Authority has invited policyholders and brokers with unresolved Covid-19-related disputes with insurers over business interruption polices to put forward their arguments for why claims should be paid.
Insurance Covid-Cast episode 11: Loss adjusting during lockdown - and what the sector might look like post-pandemic
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are working from home, we brought together a group of senior loss adjusters and experts to discuss how their employers have adapted…
Ransomware group Maze has published four sets of data labelled as “proof” of its hack of insurance giant Chubb.
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
The British Insurance Brokers’ Association and premium finance providers have warned of a possible hit to broker solvency in the event of bad debts under the proposed guidance issued by the Financial Conduct Authority last week.
Iprism Underwriting Agency is growing its underwriting and bottom line profits after its restructure last year despite the impact of the coronavirus pandemic, according to managing director Ian Lloyd.
The easy answer to the question “when is a consolidator not a consolidator” is when nobody is being bought. Phil Barton and Stuart Reid spoke to Post senior reporter Emmanuel Kenning about their latest venture Partners&.
Insurers, brokers, premium finance lenders and more have been told by the Financial Conduct Authority to consider giving payment deferrals and refunds as well as waiving cancellation fees to customers hit financially by the coronavirus epidemic.
The Financial Conduct Authority has ordered firms to analyse if and how the coronavirus pandemic has impacted the value of personal and commercial lines insurance products and take appropriate actions.
The Financial Conduct Authority has sent out letters to approximately 300 brokers and managing general agents asking them to provide detailed information regarding their financial resources and client money accounts.
Insurance Covid-Cast - episode six: From panic to practicalities, what will BI insurance look like when the Covid-19 recriminations settle down
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss how the insurance industry let the narrative over business interruption become national…
Insurers are adapting to deal with coronavirus-related insolvencies, as brokers call for compassion and support for businesses at a difficult time.
As a spike in claims against broker professional indemnity policies is expected as a result of the coronavirus outbreak, Manchester Underwriting Group CEO Charles Manchester looks at the ramifications for insurance brokers in the UK.
The Financial Ombudsman Service is prepared to progress a Covid-19 related complaint about business interruption cover as “quickly as possible” to help provide guidance to insurers and the growing number of disgruntled SME policyholders about what is -…
Insurance Covid-Cast - episode five: Could the FOS be key to help bring clarity and nix growing number of SME BI complaints
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss the ongoing confusion around business interruption cover, and what is needed to bring some…
Hiscox has confirmed it expects to pay net claims of $150m (£121.6m) due to the coronavirus crisis with the potential for another $25m if the current restrictions on “mass gatherings” are extended beyond six months.
Most businesses will not be insured for Covid-19 disruption and in many cases the wording is clear cut. But for others, the devil is in the detail and policy wordings suggest that insurers should cough up vital interim payments sooner rather than later.
Brightside's Brendan McCafferty on how the insurance industry is adjusting in the time of coronavirus
The insurance industry is going through a difficult time, like many sectors, in full view of the court of public opinion says Brendan McCafferty CEO at Brightside.
Hiscox has outlined its exposures to coronavirus losses as businesses that have had claims for coronavirus-related interruption rejected by the provider have come together, calling themselves the Hiscox Action Group.
Insurance Covid-Cast - episode two: What are insurtechs doing to rebalance the bad publicity around insurance and Covid-19?
In the second of a new series of video casts brought to you by Insurance Post and Insurance Age while our journalists are in isolation lockdown we discuss how insurtechs are seeking to create positive customer stories to redress the negative media…
Former Zurich and Axa boss Amanda Blanc has been picked to lead a cross-government review into why people did not have enough insurance cover in place during the November 2019 floods and deliver recommendations for future actions.
Hiscox rejects 'Public Authority' clause interpretation as coalition of BI claimants threaten class action
Hiscox faces a potential class-action lawsuit from policyholders that have had business interruption claims rejected.