Business interruption
Covid-19: QBE latest provider facing legal action after denying BI claims
Simon Sloane, partner at law firm Fieldfisher, says over 40 policyholders in the dental sector are interested in pursuing action.
Covid-19: Hiscox considers equity raise
Provider states it is "evaluating possible sources of capital" to respond to the pandemic.
Covid-19: Hospitality group forms to fight insurers over BI
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.
Covid-19: Hiscox Action Group gets funding for BI litigation
Harbour Litigation Funding will pay Mishcon de Reya to review the claims business owners have against Hiscox.
Research reveals insurance claims among the most likely to succeed in courts
Law firm warns insurance sector will be under scrutiny as the level of litigation is predicted to rise as a result of Covid-19.
Covid-19: Treasury Committee tells insurers to be clear and fair
Mel Stride MP states firms are continuously facing difficulties in making successful coronavirus-related claims as the ABI says insurers are expected to pay out a total of £1.2bn.
Covid-19: Total claims pay-outs expected to reach £1.2bn
The ABI says insurers are expected to pay £900m towards business interruption claims.
Insurance Covid-Cast - episode five: Could the FOS be key to help bring clarity and nix growing number of SME BI complaints
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss the ongoing confusion around business interruption cover, and what is needed to bring some…
Covid-19: RSA faces legal action in BI dispute
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.
Hiscox Action Group appoints big-hitting legal firm to represent members in BI row
The group of companies criticising Hiscox for refusing to pay out BI claims as a result of the coronavirus says it is also in "advanced talks" with a litigation funder to underwrite its entire legal costs as dispute hots up.
Covid-19: Litigation against brokers and insurers set to increase amid BI row
The market has been criticised for its response to the coronavirus crisis, particularly with regard to business interruption as providers "look down the barrel' of class action.
Fresh attack on Hiscox BI stance from night life industry
The Night Time Industries Association has been advised members have a “good case” against Hiscox as barrister warns “insurers will never be forgiven” for response to Covid-19.
Catlin calls on industry to repair reputation following Covid-19 response
Exclusive: Stephen Catlin slams "unfortunate" lack of sympathy to policyholders in messages from the sector and pushes back at claim that the industry steering group on pandemic response is a PR gimmick.
Hiscox expects $175m Covid-19 payout
Hiscox, which is currently in dispute with a group of firms over BI, said it is actively settling claims for event cancellation and abandonment, media and entertainment and travel.
Covid-19: MP calls for insurers to make full pay outs due to pandemic
Jonathan Edwards has signed an early day motion calling on the government to instruct all insurers to use dividends to pay Covid-19 claims.
Covid-19: Legal firm calls for joint govt and industry BI recovery plan
Flaxmans makes case for government and insurance sector to team up to help businesses recover following the coronavirus pandemic as Mactavish calls for independent review.
Lloyd’s pulls together BI data for PRA – reports
The marketplace has been asked to collate insurer BI cover information for the regulator.
Covid-19: Celebrity chef joins firms attacking Hiscox over BI cover
Reports state star chef Raymond Blanc has slammed Hiscox for not paying out after he was forced to close his restaurants and pubs in the wake of the coronavirus outbreak.
Covid-19: Insurers clarify stance on Coronavirus cover
Updated: A number of providers have introduced exclusions for Covid-19.
Covid-19: Industry welcomes "firm and pragmatic" FCA message on BI claims
Sector responds to the regulator's Dear CEO letter calling on insurers to pay valid claims quickly.
Covid-19: Hiscox hits back amid BI dispute
The insurer is facing a potential class action after declining a series of business interruption payments but says it could pay up to $175m and is “proactively paying claims”.
Covid-19: FCA calls on insurers to pay valid claims quickly
Regulator tells firms who refuse to pay out to explain why and how they believe it represents a fair outcome for customers.
Covid-19: UK claims will pass £1bn, says Huw Evans
Evans quoted the figure in a letter defending the response of insurers to the pandemic.
The Insurance Age Podcast: 3 April 2020
Insurance Age commissioning editor, Laurence Eastham, and news editor, Ida Axling, discuss the top stories of the week.