The backing comes from A-rated capacity and lasts for three years.
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
QC accuses FCA of failure to show causal connection between government action and the disturbance to the insured businesses
Insurers argued the Financial Conduct Authority is “unable to demonstrate” any meaningful connection between the action taken by the UK government on a national basis in response to Covid-19 pandemic and the locality of firms’ premises, as the court…
Providers argue regulator’s case doesn’t work because access to premises was not prevented during pandemic as lawyers for Hiscox, Ecclesiastical, MS Amlin, Arch Insurance and Zurich make their submissions.
Jonathan Gaisman, QC, branded parts of the Financial Conduct Authority’s arguments as camouflage, a misuse of language and “blurring every divisible thing into one amorphous mass” as he defended Hiscox in the ongoing business interruption test court case.
The FCA BI case is dragging the reputation of the whole insurance sector through the mud. Ashwin Mistry reflects on how trust can be restored.
Insurers dive into the causation debate, slamming the FCA’s approach to the ‘but for’ test as the business interruption case continues in the High Court.
The arguments set out by Hiscox in its defence over non-payment of business interruption arising from Covid-19 are too narrow, unrealistic and uncommercial according to Hiscox Action Group.
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
It was confirmed up to 370,000 policyholders may be affected by the test case which aims to decide on the validity of business interruption cover during the coronavirus outbreak.
CFO Ryan Brown says the consolidator has a "very healthy pipeline" of future acquisitions, as PIB's GWP hits £986m.
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
HTC Associates, based in Derbyshire, brings around £5m in GWP to Jensten.
Insurance Covid-Cast: Black Lives Matter focus - Q&A with the first minority-led tier-one insurance and reinsurance broker Protecdiv
For the 34th episode of Post and Insurance Age’s video series content director Jonathan Swift sat down with the founders of Protecdiv, a business that claims to be first minority-led tier-one insurance and reinsurance broker.
The Financial Conduct Authority has alleged that insurers’ approach to causation in the business interruption test case is “legally flawed” and the defendants have “overlooked” contractual contexts.
Deal is PIB's 30th as the consolidator confirms it has several more in the pipeline.
The business interruption test case policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the…
Insurers have been accused of filibustering in relation to business interruption as firms suffer “devastating losses” following coronavirus lockdown.
David Hopwood, of Marsh Networks, predicts the pace of M&A will increase as the UK moves out of lockdown.
Broker Extra 2020: Every effort is being made to ensure the UK economy fires up again, but how will brokers be operating and can they find better ways to function? Aviva's Phil Bayles, Ian Donaldson of Atlanta Group and Sara Fardon, of Willis Towers…
News Analysis: Covid-19 and BI wordings row likely to see a flight to quality, specialist providers while vanilla offerings set to struggle.
Experts predict she will focus on expanding the business rather than carving bits off, while one broker warns "heads will roll" on the provider's top team.