Insurer
Roles from LV and L&G at risk amid redundancy programme
LV General Insurance has revealed “worst case scenario” of up to 600 job cuts as it restructures and integrates L&G.
Unprecedented challenge for broker PI as prices double and exclusions threaten non-compliance
News analysis: Experts question legality of Covid-19 exclusions in brokers' PI policies and warn of trouble with doubling of premiums, providers reducing capacity, as compliance specialists call on the FCA to make it clear whether Covid-19 exclusions are…
LV puts 600 roles at risk of redundancy
The cull follows the acquisition of Legal & General as the personal lines insurer seeks to integrate the businesses and streamline its claims function.
Hiscox QC accuses FCA of “tearing up the rule book on causation”
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.
Axa XL reshuffles UK & Lloyd's leadership team
Move follows the provider's strategic review of its operating model earlier this year and the appointment of Sean McGovern as CEO UK & Lloyd's market.
Covid-19: FCA seeks to extend measures to help insurance customers who are struggling financially
The regulator wants the measures, which require firms to consider premium reductions and payment deferrals, to be extended to 31 October.
Ecclesiastical takes claims director from Allianz
Jeremy Trott will take over as current claims director David Bonehill retires in October.
RSA QC lambasts ‘clear misuse’ of the word ‘peril’ by action group
Representing RSA, David Turner QC, accused the Hospitality Insurance Group Action of “clear misuse” of the word ‘peril’ on the on the fourth day of the hearing of the Financial Conduct Authority’s Covid-19 business interruption test case.
Blog: Insurance in the danger zone
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.
QC calls on court to treat insurers fairly
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.
Lloyd’s approves syndicate to insure transportation of Covid-19 vaccine
The syndicate-in-a-box is supported by Ascot, Axa XL and McGill and Partners.
Hiscox blasted by QC over policy interpretation
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.
Covid-19 hit pushes Beazley into pre-tax loss in H1 2020
Provider expects its pandemic-related losses to amount to $170m as it takes underwriting action in its liability lines of business.
Action group brands insurers' focus on lack of specific pandemic cover 'a diversionary tactic'
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.
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
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?
FCA picks apart insurer reliance on Hurricane Katrina judgment in BI test case
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.
FCA versus insurers as test case showdown begins
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.
FCA seeks views on SM&CR following deadline extension
The regulator has published a consultation paper on amending its rules in the wake of coronavirus.
Insurers haul brokers into FCA BI case again
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”.
Motor premiums fall but Covid-19 clouds analysis
Prices fell by 5% in the last quarter according to the Confused/Willis Towers Watson index.
People Moves Round-up: 13 - 17 July 2020
Keep up to date with the latest people moves.
Insurers argue FCA victory would lead to ‘injustice’
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
Direct Line buys start-up broker Brolly
The Brolly team, including founder Phoebe Hugh, is set to move across to Direct Line once the deal is completed.
Blog: Covid-19 - the ultimate test for legacy systems
Ignite Insurance Systems' Toby MacLachlan on why brokers should upgrade their policy management systems to operate better in the 'new normal'.