Law firm Edwin Coe is advising two groups of businesses who have had their BI claims rejected by Hiscox and RSA.
Insurance Covid-Cast episode 15: Has there been a rise in cyber threats and scams during Coronavirus lockdown?
In the latest episode of Post and Insurance Age’s video series we gathered together a group of cyber experts to discuss how hackers and scammers are using Covid-19 to prey on people’s thirst for knowledge and information at this time.
The Night Time Industries Association says provider has denied claims after previously telling policyholders they would be covered.
The group, which is in dispute with Hiscox over business interruption cover, now represents more than 400 members and has the go-ahead to begin legal proceedings.
The insurer also published a trading update which addressed the current Covid-19 business interruption dispute.
The Group is going after insurer Hiscox over its refusal to pay BI claims the group members believe to have been triggered by coronavirus pandemic.
Hiscox Action Group and the Night Time Industries Association, representing more than 500 businesses, have agreed to work together to challenge Hiscox’s business interruption stance.
Legal disputes over coronavirus-related BI claims have put insurers’ responses to the crisis in the spotlight
Insurance Covid-Cast - episode six: From panic to practicalities, what will BI insurance look like when the Covid-19 recriminations settle down
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss how the insurance industry let the narrative over business interruption become national…
Provider states it is "evaluating possible sources of capital" to respond to the pandemic.
The group is being advised by Mishcon de Reya and will look into claims denied by any number of insurers naming Axa, China Taiping, RSA, Touchstone, and Zurich but excluding Hiscox.
Harbour Litigation Funding will pay Mishcon de Reya to review the claims business owners have against Hiscox.
The group of companies criticising Hiscox for refusing to pay out BI claims as a result of the coronavirus says it is also in "advanced talks" with a litigation funder to underwrite its entire legal costs as dispute hots up.
The market has been criticised for its response to the coronavirus crisis, particularly with regard to business interruption as providers "look down the barrel' of class action.
The Night Time Industries Association has been advised members have a “good case” against Hiscox as barrister warns “insurers will never be forgiven” for response to Covid-19.
Hiscox, which is currently in dispute with a group of firms over BI, said it is actively settling claims for event cancellation and abandonment, media and entertainment and travel.
Reports state star chef Raymond Blanc has slammed Hiscox for not paying out after he was forced to close his restaurants and pubs in the wake of the coronavirus outbreak.
The insurer is facing a potential class action after declining a series of business interruption payments but says it could pay up to $175m and is “proactively paying claims”.
Provider reports growth in GWP, but admits household broker business in the UK has been impacted by “tough pricing action” following an increase in claims.
Laurence Eastham and Ida Axling discuss the most popular news stories this week, including changes at Marsh Commercial and Hiscox moving 300 staff out of London.
Insurer is set to open a new branch in an unidentified location, with staff also set to move to existing offices in York and Colchester. It confirmed no broker-facing roles are affected.
Provider now covers intellectual property infringement and pre-claims assistance, as well as unlimited business interruption for firms up to £2m.
German MGA Getsafe, which offers digital contents insurance, was established two years ago.
David Ashby Underwriting will service MS Amlin's livestock and bloodstock business as part of the agreement.