Insurer
Covid-19: Product value under FCA microscope
Providers urged to consider how value of products has changed as customers alter behaviours during coronavirus with product refunds proposed.
LV offers premium refunds of between £20 - £50 to motor customers
The proportional refunds for customers in distress follows Admiral's flat £25 payment but broker customers are not included in the £30m LV has set aside for rebates.
Covid-19: FCA urges firms to consider premium reductions and payment holidays
The regulator issued a raft of measures today (1 May) for how financial services firms should behave while coronavirus grips the nation.
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.
News analysis: Industry under pressure as backlash over business interruption continues
Legal disputes over coronavirus-related BI claims have put insurers’ responses to the crisis in the spotlight
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.
Blog: Why the government needs to back the insurance industry
Tom Powell shares his idea to help the insurance sector overcome the BI problems
Arron Banks and Elizabeth Bilney agree settlement with Electoral Commission
Commission states it accepts the National Crime Agency’s conclusions that it found no evidence that any criminal offences had been committed after it investigated loans totalling £8m provided to the Leave.EU campaign from one of Banks' other companies.
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: QBE latest provider facing legal action after denying BI claims
Simon Sloane, partner at law firm Fieldfisher, says over 40 policyholders in the dental sector are interested in pursuing action.
C-Quence unveils capacity deal with Zurich
MGA also launches Arag-backed legal expenses cover to its property and casualty product suite.
Covid-19: Hiscox considers equity raise
Provider states it is "evaluating possible sources of capital" to respond to the pandemic.
Covid-19: Hospitality group forms to fight insurers over BI
The group is being advised by Mishcon de Reya and will look into claims denied by any number of insurers naming Axa, China Taiping, RSA, Touchstone, and Zurich but excluding Hiscox.
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: Should all motor customers get a rebate?
Updated: Major insurers including Axa, Aviva, Ageas, LV and Zurich respond on automatic rebates as motor disrupters say the Admiral £25 move does not go far enough and questions are raised about the gesture.
Research reveals insurance claims among the most likely to succeed in courts
Law firm warns insurance sector will be under scrutiny as the level of litigation is predicted to rise as a result of Covid-19.
Ecclesiastical launches Covid-19 social media guide
The document has been developed to help brokers navigate platforms such as Twitter and Linked In throughout the outbreak.
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.
Covid-19: Measures to maintain personal injury claims process launched
The ABI and the Association of Consumer Support Organisations have developed a statement of intent recommending remote video examination and rehabilitation.
Covid-19: Total claims pay-outs expected to reach £1.2bn
The ABI says insurers are expected to pay £900m towards business interruption claims.
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.
Gary Hoffman resigns from Hastings
Hoffman, currently non-executive chairman, was CEO of the business between 2012 and 2018 and led it through an IPO in 2015.
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.