Broker Extra 2020: Brokers have faced significant challenges yet also gained some business benefits resulting from the Coronavirus pandemic. In a Broker Extra 2020 live-streamed session, an expert panel of brokers talked about their experiences.
The regulator exclusively spoke to Insurance Age for the Broker Extra event.
The global insurer has estimated a $1.36bn hit arising from Covid-19.
The newly appointed leader wants to direct change at pace at the insurer and does not rule anything out.
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 insurance market has revealed a number of frameworks to help tackle the coronavirus crisis as well as future systemic catastrophes.
Experts warn that brokers could find themselves under fire as insurers lean in intermediaries in defences.
Groups formed against Hiscox and QBE will “closely liaise” with the FCA but are not permitted to increase the scope of the test case.
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.
Group u-turns on desire to be part of FCA case as Hiscox continues to assess its separate arbitration claims.
But the regulator also describes the sector as resilient and robust in a letter to general insurance CEOs.
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
Hiscox aims to compare Covid-19 economic hit to Sweden and ‘draconian’ UK in Financial Conduct Authority BI test case.
Hiscox Action Group wants a former Court of appeal Judge to act as sole arbitrator as Covid-19 business interruption dispute continues.
The British Dental Association has written to the Financial Conduct Authority to highlight “questionable” wordings not included in the coronavirus BI test case.
The regulator's updated preliminary list shows that the scope of the legal proceedings has been extended to cover a total of 91 policy types.
The regulator's particulars of claim for the test case stated that the defendants’ reasons for wordings are not relevant or admissible.
The legal firm is pursuing a £52m claim against Hiscox and planning its own test cases and representing dentists in dispute with QBE.
The relationship between broker and insurer has come under scrutiny. Martin Friel finds out how the industry can move forward and restore trust between clients, brokers and insurers
While public perception of insurance has always been poor, the situation around BI claims during the lockdown is damaging its reputation further. Martin Friel investigates the impact on brokers
Pressure groups take different paths over whether to suspend their own legal proceedings while regulator's case goes forward as it is revealed three broker wordings from Pound Gates, Marsh and Gallagher will be assessed.
The June issue of Insurance Age is available via digital platforms only due to Covid-19.
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".