Insurer apologises over 2018 announcement with the potential to mislead the market in a “serious but not intentional” breach.
The insurer is not challenging the judgement on three wordings as the coronavirus business interruption proceedings head to the Supreme Court.
HIGA opens up membership to all policyholders with the Resilience or QBE1 policy wordings.
East West Insurance Company was forced into administration following a Court of Appeal ruling on a claim.
Reputations at risk: Figures from FWD Research show that insurers’ reputations are at a low among brokers and customers but also reveal some reasons for optimism, writes Simon Staplehurst
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.
In a fresh dear CEO letter to brokers, interim CEO Christopher Woolard warns that the regulator is assessing firms’ arrangements and tells brokers it is imperative to safeguard the client money they hold for customers.
Brokers react to business interruption case as insurers, policyholders and the FCA consider appeals
Regulator says it will continue discussions with insurers and action groups to find a solution for the outstanding issues as soon as possible.
Regulator says discussions between the parties involved in the case continue ahead of the next hearing on 2 October, as the watchdog along with seven insurers file "precautionary" applications to skip Court of Appeal.
The night life industry and broker NDML call on the provider to "accept that the time to pay has arrived" in open letter to Hiscox MD.
Insurtech FloodFlash has launched a new iteration of its parametric commercial flood insurance designed to support risks and portfolios where the flood premium is between £20,000 and £1m annually.
Experts predict the regulator's proposals to ban dual pricing will have "unintended consequences" and lead to reduced competition for new business, but agree the measures are a positive outcome for consumers.
Regulator to collect data from any firms setting prices, including brokers, as it calls on the industry to co-operate to tackle the loyalty penalty.
The regulator outlines proposals for a “significant reform” of the motor and home insurance markets and slams "complex and opaque" pricing practices.
Interim CEO Christopher Woolard sets out the regulator's expectations after the High Court handed down its judgment in the BI test case last week.
Experts discuss next steps for brokers, industry reputation and expectations from clients after the High Court delivered an outcome that differed across the policy wordings under scrutiny.
Move comes after the court ruled in favour of policyholders in relation to one of QBE’s policy wordings as well as Marsh’s Resilience wording.
Some providers involved in the business interruption test case are considering an appeal, while others welcome the result.
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.
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…
MD Simon Mabb, along with the Night Time Industries Association, says he is both “pleased and frustrated” at the ruling from the High Court, as he notes Hiscox claims have been deemed legitimate, but the QBE result is “still unclear”.
The High Court today found in favour of the FCA and policyholders on the majority of the key issues under scrutiny in the business interruption test case.
The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close could be entitled to be compensated by the insurers.