Business interruption
Insurers and FCA butt heads on pandemic spread analysis in BI case
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…
BI Test Case: Hiscox argues business hardship likely even without lockdown
Hiscox aims to compare Covid-19 economic hit to Sweden and ‘draconian’ UK in Financial Conduct Authority BI test case.
Covid - 19: Action group hits Hiscox with £40m arbitration claim
Hiscox Action Group wants a former Court of appeal Judge to act as sole arbitrator as Covid-19 business interruption dispute continues.
British dentists questions wordings included in BI test case
The British Dental Association has written to the Financial Conduct Authority to highlight “questionable” wordings not included in the coronavirus BI test case.
FCA expands number of wordings under scope of 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.
FCA turns focus to policy intention in Covid-19 BI battle
The regulator's particulars of claim for the test case stated that the defendants’ reasons for wordings are not relevant or admissible.
Mishcon advances on Hiscox and QBE in Covid-19 BI rows
The legal firm is pursuing a £52m claim against Hiscox and planning its own test cases and representing dentists in dispute with QBE.
In-depth - business interruption: Rebuilding trust
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
In-depth - business interruption: Relationship troubles
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
Brokers welcome momentum for FCA BI test case
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.
Insurance Age Digital Edition: June - A balancing act
The June issue of Insurance Age is available via digital platforms only due to Covid-19.
Hiscox has highest number of policies highlighted by FCA test case
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".
FCA names 16 insurers affected by BI legal test case
The watchdog expects the test case, to determine the validity of business interruption coronavirus claims, to be heard in the second half of July.
Axa to pay French Covid-19 BI claims after court ruling – reports
Updated: The insurer will pay out to restaurants following a court decision that it must pay one owner two months worth of coronavirus-related cover.
Market hardening fast-tracked by Covid-19 crisis
Experts say the insurance sector has been “traumatised” by the prospect of unintended coverage for business interruption related to coronavirus.
RSA and Hiscox face new group action in Covid-19 BI legal row
Law firm Edwin Coe is advising two groups of businesses who have had their BI claims rejected by Hiscox and RSA.
Brokers under fresh attack due to “huge conflict of interest” over commission
Report claims brokers receive up to 80% of their remuneration from insurers with Mactavish saying more businesses are “questioning the role their brokers play" as coronavirus crisis "brutally exposes" problems in the market.
Covid-19: ABI hits back following open letter from pub industry
The sector has united to highlight its disappointment in the insurance industry following the coronavirus pandemic and lockdown.
Aviva joins string of insurers under attack in Covid-19 BI dispute
Law firm Mishcon de Reya names Aviva and QBE and is in discussions with third party funders to fund the litigation on behalf of hospitality sector which it expects to move forward by 10 June.
Covid-19: Hiscox under fresh attack for back-tracking on BI claim
The Night Time Industries Association says provider has denied claims after previously telling policyholders they would be covered.
Covid-19: Hiscox Action Group primed for £40m legal attack
The group, which is in dispute with Hiscox over business interruption cover, now represents more than 400 members and has the go-ahead to begin legal proceedings.
Covid-19: FCA seeks broker feedback ahead of BI court action
Regulator issues call for more information as it puts together its High Court test case with the aim to resolve uncertainty for businesses making claims.
Blog: Why brokers need to get behind the FCA on BI
Romero and NDML’s Simon Mabb says why he believes brokers must unite with the regulator to overcome the current Covid-19 business interruption dispute.
Airmic pressures insurers on “grey area” Covid-19 claims
The risk management association called for a business sensitive approach on the coronavirus pandemic and warned of long term damage if insurers and brokers fail to show fairness and flexibility.