Small firms are encountering widespread problems in their dealings with the insurance market and rising premium costs, a new report has found.
Consumer trust in insurance has fallen over the past 12 months, but experts can see a route to a brighter future. Emmanuel Kenning reports.
Sedgwick’s Damian Glynn shares a business interruption checklist with brokers to help prevent underlying issues.
A group of professional football clubs has set out its demand for multiple business interruption payments having kicked off a High Court multi-million pound Covid-19 related legal case last month.
The Financial Ombudsman Service has revealed a 26% fall in insurance complaints for 2021/22.
A group of nurseries is banding together to sue broker Pound Gates for an estimated £10m after it recommended business interruption insurance policies that failed to pay out during the Covid-19 pandemic.
Reed Smith’s Peter Hardy and Catherine Lewis consider the impact of Stonegate’s £1bn court claim.
Food retailer Greggs has boosted the number of events cited in its £150m Covid-19 business interruption legal case against Zurich.
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.
Adam Winslow has been UK and Ireland CEO for Aviva since May last year. He speaks to Siân Barton about his career, the insurer’s plans and shares his view on current market conditions.
CG Restaurant has opened a £4m business interruption legal proceeding against QIC Europe at the High Court in London.
The Gallagher leader discusses her time in the job, making deals and the insurance sector’s need for talent along with sharing her views on improving diversity and inclusion in the market as well as how she coped with lockdown.
The British Insurance Brokers’ Association has criticised the tone taken by the Financial Conduct Authority in its letter to brokers and promised to respond to the watchdog to defend the work done by the sector.
A suite of football clubs including Arsenal, Aston Villa, Brighton & Hove Albion, Leicester, Liverpool, Tottenham and West Ham have filed a claim in the commercial court against Allianz, Aviva, CNA, Liberty, MS Amlin and Zurich.
Nic Brown, of Markel, argues that meeting the needs of customers may have slipped as a priority for the industry during the current hardening market and rising premium inflation.
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
The insurer said it is working with the restaurant group to finalise the claim as quickly as possible as well as looking at the impact of the court’s decision on other declined claims.
Across financial services the ombudsman had nearly 5000 cases open for more than two years.
Silence from the insurer on whether it will pursue the appeal.
Insurers have made £1.05bn in final payments and £303.1m in interim payments.
Market experts think the Axa and Corbin & King verdict could spark a chain reaction in the insurance industry, leading to a reopening of claims and renegotiated settlements.
The insurer also ended agencies with brokers and revealed it will be looking to double UK business under incoming leader Jon Dye.
The insurer said it would give the judgment “careful consideration”.