News
Insurers’ QC claims FCA is “forcing a square peg into a round hole” in BI test case
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.
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.
Marsh Commercial offers cashback to former personal lines customers
Exclusive: The broker has handed back cash following an internal review and admits some clients were not offered the most competitive terms between 2012 and 2018.
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.
MGAs failing to deliver on data
Survey by the MGAA and Aventus shows fewer than a third provide brokers with customer data for account-based marketing and cross-selling.
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.
Integro-owned Tysers appoints CEO
Clive Buesnel has joined the broker from a head of insurance role at Deloitte.
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.
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.
Looking to the future
Premium Finance Week: Despite coronavirus the broker space is still set to be a hive of activity for the remainder of 2020. Jonathan Swift finds out more with Close Brothers’ Paul Trail and Steve Wallis.
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.
S&G Risk Solutions buys BLW Insurance Brokers
The deal is S&G's first after it was formed in March 2020 with the aim to support smaller brokers.
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?
Supporting clients with Payment Services
Premium finance Week: How can brokers use technology (specifically Payment Services) to help and support their clients?
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.
CMA launches official inquiry into Ardonagh’s Bennetts deal
The regulatory body must make a decision on whether to refer the merger for further investigation by 16 September this year.
Ex-Kwik Fit and Sure Thing! boss Devine joins Ceta-owner Atec Group as CEO
He replaces John Bibby, who has stepped down from the business but remains a shareholder.