LV General Insurance has revealed “worst case scenario” of up to 600 job cuts as it restructures and integrates L&G.
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…
The cull follows the acquisition of Legal & General as the personal lines insurer seeks to integrate the businesses and streamline its claims function.
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.
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.
The regulator wants the measures, which require firms to consider premium reductions and payment deferrals, to be extended to 31 October.
Jeremy Trott will take over as current claims director David Bonehill retires in October.
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.
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 syndicate-in-a-box is supported by Ascot, Axa XL and McGill and Partners.
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.
Provider expects its pandemic-related losses to amount to $170m as it takes underwriting action in its liability lines of business.
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.
The regulator has published a consultation paper on amending its rules in the wake of coronavirus.
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”.
Prices fell by 5% in the last quarter according to the Confused/Willis Towers Watson index.
Keep up to date with the latest people moves.
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
The Brolly team, including founder Phoebe Hugh, is set to move across to Direct Line once the deal is completed.
Ignite Insurance Systems' Toby MacLachlan on why brokers should upgrade their policy management systems to operate better in the 'new normal'.