Commercial
Covid-19: Hiscox BI pressure groups join forces
Hiscox Action Group and the Night Time Industries Association, representing more than 500 businesses, have agreed to work together to challenge Hiscox’s business interruption stance.
Covid-19: FCA bares teeth as BI dispute hots up
Regulator seeks court action to resolve uncertainty on business interruption cover and bring clarity on specific policy clauses.
Insurance Covid-Cast episode seven: Empathetic, sympathetic and offering strategic guidance – how brokers are managing clients in lockdown
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 brokers maintain their ‘trusted adviser’ status during these difficult time.
Covid-19: Broker calls on Chancellor to release Pool Re funds for BI claims
NDML is asking for some of Pool Re’s £6.6bn cash to be used to help businesses in the leisure and hospitality sector which have been hit by coronavirus.
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…
Covid-19: Hiscox Action Group gets funding for BI litigation
Harbour Litigation Funding will pay Mishcon de Reya to review the claims business owners have against Hiscox.
Covid-19: Treasury Committee tells insurers to be clear and fair
Mel Stride MP states firms are continuously facing difficulties in making successful coronavirus-related claims as the ABI says insurers are expected to pay out a total of £1.2bn.
EPUL teams with FloodFlash on property product
Its parametric property investor proposition now allows brokers to get FloodFlash quotes at renewal and for new business.
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…
Covid-19: RSA faces legal action in BI dispute
RSA is latest provider in firing line as nursery sector hits out and, separately, a new action group, Insurance Justice, has been set up to defend BI claims for businesses.
Hiscox Action Group appoints big-hitting legal firm to represent members in BI row
The group of companies criticising Hiscox for refusing to pay out BI claims as a result of the coronavirus says it is also in "advanced talks" with a litigation funder to underwrite its entire legal costs as dispute hots up.
Covid-19: Litigation against brokers and insurers set to increase amid BI row
The market has been criticised for its response to the coronavirus crisis, particularly with regard to business interruption as providers "look down the barrel' of class action.
Insurance Covid-Cast - episode four: How insurance companies are rising up to help communities and keep society open during the Coronavirus crisis
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 insurance companies are seeking to make a difference within local communities during…
Fresh attack on Hiscox BI stance from night life industry
The Night Time Industries Association has been advised members have a “good case” against Hiscox as barrister warns “insurers will never be forgiven” for response to Covid-19.
Hiscox expects $175m Covid-19 payout
Hiscox, which is currently in dispute with a group of firms over BI, said it is actively settling claims for event cancellation and abandonment, media and entertainment and travel.
Covid-19: MP calls for insurers to make full pay outs due to pandemic
Jonathan Edwards has signed an early day motion calling on the government to instruct all insurers to use dividends to pay Covid-19 claims.
Covid-19: Legal firm calls for joint govt and industry BI recovery plan
Flaxmans makes case for government and insurance sector to team up to help businesses recover following the coronavirus pandemic as Mactavish calls for independent review.
Lloyd’s pulls together BI data for PRA – reports
The marketplace has been asked to collate insurer BI cover information for the regulator.
Covid-19: Celebrity chef joins firms attacking Hiscox over BI cover
Reports state star chef Raymond Blanc has slammed Hiscox for not paying out after he was forced to close his restaurants and pubs in the wake of the coronavirus outbreak.
Covid-19: Insurers clarify stance on Coronavirus cover
Updated: A number of providers have introduced exclusions for Covid-19.
Covéa reveals £22.3m underwriting loss in 2019
Provider also posts increases in GWP and profit after tax as it reports "disappointing" personal motor result impacted by claims inflation and a "lower than anticipated" Ogden rate.
Covid-19: Hiscox hits back amid BI dispute
The insurer is facing a potential class action after declining a series of business interruption payments but says it could pay up to $175m and is “proactively paying claims”.
Gresham launches Professional Select
The product covers 300 different trades and offers flexible commission to brokers.
Covid-19: FCA calls on insurers to pay valid claims quickly
Regulator tells firms who refuse to pay out to explain why and how they believe it represents a fair outcome for customers.