The task force, chaired by Lloyd's, is comprised of insurance executives and aims to provide a platform for the sector to collectively advance the world’s progress towards a resilient, net-zero economy.
He becomes an independent non-executive director alongside James Illingworth and Jane Hayes.
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.
Cheralyn Perry, most recently partnerships director at RSA, takes the newly created position.
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.
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…
The industry-wide property damage Task Force is meant to bring insurers, brokers, loss adjusters, legal specialists, and corporates together to identify emerging issues in the property claims sector.
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.
The company has chosen to team up with Wakam, deeming it “a more flexible European capacity provider.”
Ross says an industry working group was “on the cusp” of solving the issue around Covid-19 BI claims, when the opportunity was “taken out of our hands” due to the FCA’s test case.
Ten riders from across the industry are set to cycle 980 miles from Land’s End to John O’Groats to raise at least £25,000 for the Insurance United Against Dementia campaign.
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.
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Provider says results were impacted by the pandemic, as COR worsened to 114.5% while GWP remained flat.
CEO discusses the need for the insurer to rebuild its brand and reputation as a result of the BI disagreement as insurer posts £192.4m loss for 2020.
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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.
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Following the Supreme Court business interruption ruling last week, Jonathan Swift argues brokers need not join their insurer partners in suffering Murder By the Orient Express, but instead play an important role in helping policyholders understand what…
Providers pledge to review claims and contact customers after the Supreme Court sided with the FCA and policyholders in the final verdict over payment of BI claims arising from Covid-19.
The Supreme Court concluded the Covid-19 business interruption dispute by substantially ruling in favour of policyholders.
The court also concluded that the Orient Express case, which insurers relied on during the hearing, was wrongly decided and should be overruled.
Tom Shewry has been confirmed in the role.
The campaign, alongside EC3 brokers and Hiscox, has written to the Secretary of State for Culture, Media & Sport, calling on the government to underwrite events contingency cover post-Covid.