The ten person team of insurance professionals took on the Ride Across Britain challenge earlier this month.
The latest set of figures from the FCA show providers have made initial payments worth £328.9m for unsettled claims and final settlements of £696.2m.
Insurance Cares: Follow along as the team of ten insurance professionals tackle the 980 miles from Land’s End to John O’Groats to raise money for Insurance United Against Dementia.
Former Hiscox UK broker boss Dingwall joins Partners& as managing partner (Scotland) and will focus on expanding the broker's footprint in the North of England and Scotland.
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.
Hoxton Insurance Services trades exclusively through brokers and is backed by Hiscox.
Provider also records rise in GWP and an improved COR of 93.1%.
Experts note Bronek Masojada, who is stepping down as Hiscox group CEO later this year, has built a business focused on quality, but some want to see a stronger broker focus as they say successor Aki Hussain's challenge will be to "win back the trust" of…
Masojada is set to step down at the end of the year and will be succeeded by group CFO Aki Hussain.
The settlement follows on from the Supreme Court judgment in the FCA's BI test case in January.
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.
Hiscox and the Hiscox Action Group said the arbitration proceedings have been resolved "to the mutual satisfaction of all parties".
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.