Ecclesiastical
Covid BI claims payments near £1bn
FCA figures show interim payments of £331.2m and final settlements of £636.7m have been made since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 6,073.
People Moves: 19-23 July 2021
Keep up to date with the latest people moves in the insurance sector.
FCA data shows Covid BI claims payments now total £875.5m
Updated figures reveal providers have made initial payments for unsettled claims worth £308.9m and final settlements worth £566.6m since the Supreme Court verdict in the FCA test case.
Brokers predict rise in consolidation among niche players
Research from Ecclesiastical reveals the biggest threats specialist brokers are facing as well as why they believe being niche gives them a competitive advantage over other brokers.
Covid BI claims payments hit £765.8m
FCA figures show interim payments of £289.5m and final settlements of £467.2m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,152.
News analysis: A question of fair value
Brokers and insurers could face increased scrutiny as the Financial Conduct Authority zones in on fair value. Martin Friel investigates what this means for insurance businesses
Blog: Business continuity in a changing world
In Business Continuity Week, Ecclesiastical's Sarah Pearson, considers developing business resilience.
Covid BI claims payments hit £701m
FCA figures show interim payments of £268.2m and final settlements of £433.1m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,912.
SchemeServe creates scheme sharing facility with capacity from seven providers
The facility, which was developed in response to changes in insurer appetite due to the pandemic, will connect brokers and MGAs looking for capacity for new or existing schemes to a panel of providers including Axa, Ecclesiastical, Hiscox, Arag, and Pen…
ABI launches flexible working charter
Signatories, which include Aviva, Ageas, Allianz, Covea, Ecclesiastical, LV, and Zurich, commit to opening up the majority of their roles to flexible working, job sharing and part-time working.
FCA data reveals progress as insurers settle Covid-19 BI claims
Updated figures show providers have made interim payments of £247.7m and final settlements of £352.1m since the Supreme Court verdict, but 12,217 policyholders are still waiting to hear whether their policies provide cover or not.
Top rated high net worth providers for 2020-21 revealed
Axa XL takes the crown in a report from Highpoint Consultants which explores the state of the HNW insurance market and how well it serves customers and brokers.
FCA reveals insurer claims payouts following BI test case verdict
Regulator says providers have paid out £192.1m in interim payments for unsettled claims and £279.8m in final settlements at it reiterates order to pay out quickly.
Pandemic pushes Ecclesiastical to 2020 loss
GWP in the UK and Ireland business grew by 7.6% while its COR worsened to 92.5%, as broking division saw modest profit rise.
Interview: Ecclesiastical's Richard Coleman
MD of UKGI, Richard Coleman, tells Insurance Age about the provider's plans to modernise its brand and discusses the business interruption test case and Ecclesiastical's approach to working with brokers.
FCA and insurers disagree on how to interpret Supreme Court BI ruling
Regulator says Supreme Court decision gives insurers the clarity they need to conclude their claims processes with most of their BI customers but a few issues still remain as parties make written submissions to the Supreme Court.
The Insurance Fraud Bureau adds Ecclesiastical to its growing membership
The specialist insurer allows the IFB to make further inroads into the world of property and casualty fraud.
Mental health awareness grows in broker community
But Ecclesiastical's 2020 Broker Wellbeing Survey shows that 46% of brokers are still suffering from work-related stress.
Orient Express named as "main battleground" ahead of BI test case Supreme Court hearing
The hearing in the FCA's business interruption test case starts on 16 November and will be heard by the same judges that oversaw the Orient Express case, which insurers have been relying on during the court proceedings.
Pressure groups’ fury at Supreme Court BI appeals
Eight parties in the FCA business interruption court case have been allowed to leapfrog appeals to the Supreme Court as QIC Europe is denied right to join the test case and Ecclesiastical withdraws.
SEIB buys Colchester-based WRS Insurance Brokers
WRS specialises in the social welfare sector and provides cover for charities, churches and care and community groups.
Test case insurers respond to High Court BI judgment
Some providers involved in the business interruption test case are considering an appeal, while others welcome the result.
BI ruling welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court judgment today in the FCA's BI test case and those with prevention of access wordings may also find they have cover, law firm…
Ecclesiastical launches hub for education brokers
The platform has been designed to help brokers and their clients manage strategic and operational risk as schools re-open amid the Covid-19 pandemic.