As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…
The eight insurers involved in the case are still on the hunt for their own expert evidence as a second trial in September is looking increasingly likely.
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Brokers brought into fray as providers file a variety of defences including proximate cause and the ‘Sweden defence’ in the landmark case to determine the validity of BI claims arising from the coronavirus pandemic.
Action follows the provider's failure to maintain sufficient technical reserves between February 2010 and September 2013.
Lloyd's pledges support for BAME communities as it condemns "appalling and shameful" part of its history.
RSA criticised for "abandoning the broker sector" after provider says single vehicle business is "no longer broker territory" as brokers refuse to give up on the space.
Hiscox aims to compare Covid-19 economic hit to Sweden and ‘draconian’ UK in Financial Conduct Authority BI test case.
Exclusive: Provider says single vehicle business is "no longer core broker territory".
Seventeen wordings will be assessed as part of the test and the FCA list shows 34 Hiscox policies affected so far, as regulator says list is a "representative sample" which is "not comprehensive".
As Mental Health Awareness Week draws to a close Insurance Age asks what employers are doing for the people keeping the industry moving as they cope with Covid-19.
Law firm Edwin Coe is advising two groups of businesses who have had their BI claims rejected by Hiscox and RSA.
Paul Dilley will replace Adrian Sweeney after a handover period.
Legal disputes over coronavirus-related BI claims have put insurers’ responses to the crisis in the spotlight
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.
RSA is latest provider in firing line as nursery sector hits out and, separately, a new action group, Insurance Justice, has been set up to defend BI claims for businesses.
The group, which has members including Aviva's Maurice Tulloch and RSA's Stephen Hester, is working closely with Pool Re to develop solutions to the crisis.
Updated: A number of providers have introduced exclusions for Covid-19.
Polaris celebrated 25 years last year and also had a MD change with Vivek Banga taking the top spot. Banga catches up with Jonathan Swift about the future of e-trade and the role brokers can play.
Updated: The provider won’t cover for Covid-19 unless it is specifically named in the terms as other insurers including RSA, Allianz, NIG and Ageas respond to the crisis.
Egan points to growth in RSA's regional commercial broker book as UK business moves back into profit.
Performance at group and UK & International level improved and COR was 95.0% as the business noted the impact of discipline and portfolio exits.
Russell White joins from RSA and completes Ageas's broker distribution team restructure following the retirement of Chris Dobson.