FCA launches policychecker for BI customers
The regulator has developed the tool to help policyholders find out if their wording is affected by the Supreme Court's coronavirus ruling.
A tool to help SME customers work out if their policy is affected by the recent Supreme Court ruling on Covid-19 business interruption payments has been set up by the Financial Conduct Authority.
The historic ruling dismissed insurer appeals and found in favour of policyholders after an expedited court process brought by the regulator in an action that was prompted by insurers refusing to payout for Covid-related BI amid the first lockdown in 2020.
The FCA said of the checker: “The policy
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Q&A: Martyn Holman, chair of Somerset Bridge
Martyn Holman tells Insurance Age about the evolution of Somerset Bridge under the ownership of Arch Re along with what is coming next. As the ex-Brightside CEO and Markerstudy leader winds down his career, he shares his biggest regret as well as his plans for a decade-long tour of farewell lunches.
Aviva promotes Owen to widened commercial MD role after Martin exit
Aviva has promoted Ann Owen to managing director of its UK Commercial & Aviva Private Clients (APC) arms with immediate effect.
Intact to merge its UK and EU specialty businesses
Intact is bringing together its UK and European specialty lines business through Intact Insurance (Europe), seeing new and renewal specialty lines being governed by a soon-to-be-rolled-out EU terms of business agreement.
HDI gets underwriting sign-off from Lloyd’s for new syndicate
HDI Global UK & Ireland has been given permission to underwrite from Lloyd’s for Syndicate 2029, meaning it can fire up activities ahead of business incepting on 1 January 2027.
Irwell opens London office as GWP tops £50m
Irwell Insurance has expanded its footprint adding a London office to complement its Manchester headquarters.
Samsung to complete Canopius buy
Samsung Fire & Marine Insurance has struck a deal to buy the remaining shares in Canopius, alongside funds managed by global investment firm KKR, and Korea Investment Corporation, completing a process that started in 2019.
Insurer service ratings rise again in Gracechurch/Biba survey as four-year run continues
The net promoter score given by brokers to commercial insurer service has hit a new high of +25 in the latest ratings from Gracechurch and the British Insurance Brokers’ Association, maintaining a four-year-long journey of improvement.
Motor premium prices slip but payouts stay at record level in Q3 – ABI
The average motor insurance premium fell slightly to £562 in the third quarter of the year, £4 lower than the period before, the Association of British Insurers has calculated.