Insurer
Brokers welcome FCA's crackdown on dual pricing
Experts predict the regulator's proposals to ban dual pricing will have "unintended consequences" and lead to reduced competition for new business, but agree the measures are a positive outcome for consumers.
FCA warns brokers to "pay close attention" after dual pricing ban
Regulator to collect data from any firms setting prices, including brokers, as it calls on the industry to co-operate to tackle the loyalty penalty.
Beazley revises Covid-19 claims estimate up to $340m
This is up from April’s $170m prediction, however, the insurer said it did not expect the outcome of last week’s FCA business interruption judgment to have a material impact.
Tifgroup receives libel settlement and apology from The Times
The travel provider has settled with the national paper over “untrue” allegations it published in November 2018.
FCA signs death warrant for dual pricing
The regulator outlines proposals for a “significant reform” of the motor and home insurance markets and slams "complex and opaque" pricing practices.
Dive-In launches with authenticity and perspective as its themes
The diversity and inclusion festival, which begins today, has done research that found firms should pay closer attention to D&I in times of crisis.
FCA orders insurers to take action on BI claims
Interim CEO Christopher Woolard sets out the regulator's expectations after the High Court handed down its judgment in the BI test case last week.
Convex appoints UK CEO
The former CEO of Neon Underwriting, Theo Butt, takes up the role replacing Convex co-founder Paul Brand.
Brokers believe BI dispute is "far from over" after test case judgment
Experts discuss next steps for brokers, industry reputation and expectations from clients after the High Court delivered an outcome that differed across the policy wordings under scrutiny.
Law firm looks to expand group action following BI test case outcome
Move comes after the court ruled in favour of policyholders in relation to one of QBE’s policy wordings as well as Marsh’s Resilience wording.
People Moves Round-up: 14 - 18 September 2020
Keep up to date with the latest people moves.
Test case insurers respond to High Court BI judgment
Some providers involved in the business interruption test case are considering an appeal, while others welcome the result.
Biba urges industry to be mindful of its reputation after BI judgment
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.
BI ruling welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court judgment today in the FCA's BI test case and those with prevention of access wordings may also find they have cover, law firm…
Broker NDML pledges to “continue to fight” for QBE clients after judgment
MD Simon Mabb, along with the Night Time Industries Association, says he is both “pleased and frustrated” at the ruling from the High Court, as he notes Hiscox claims have been deemed legitimate, but the QBE result is “still unclear”.
Hiscox expects less than £100m of Covid-19 BI claims after court ruling
The High Court today found in favour of the FCA and policyholders on the majority of the key issues under scrutiny in the business interruption test case.
High Court finds in favour of small businesses and the FCA on majority of issues in BI case
The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close could be entitled to be compensated by the insurers.
CII calls on sector to act now to avoid future FCA test cases
Body urges industry to work on product governance, improving advice processes and establishing an approach to pandemics.
Blog: Everything you were afraid to ask about algorithms
Covernet’s Jim Campbell explains what algorithms can do for brokers.
CFC revamps cyber incident response app
Provider says offering notifies policyholders of critical, time-sensitive threats and vulnerabilities in real-time, leveraging its proprietary data enrichment platform.
People Moves Round-up: 7 - 11 September 2020
Keep up to date with the latest people moves.
Saga confirms £150m capital raise and investment from ex CEO Sir Roger De Haan
Business also posts pre-tax loss of £55.5m for the first six months of 2020.
MIB proposes 10% headcount reduction
Organisation says it is set to make 50 redundancies as part of a transformation programme and in response to "significant budget challenges" arising from Covid-19.
D-Day for industry as FCA reveals date for BI judgment
Insurers will find out next week if their denial of coronavirus business interruption claims is legal.