Business interruption
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.
Covid-19: Insurers will need to "carefully consider" BI position, says Oliver Wyman
The management consulting firm warns of a coming trade-off between maintaining the economic integrity of the business and maintaining customer trust, as it outlines how European insurers can manage the impact of coronavirus.
Blog: Pandemic - what is covered?
Biba's executive director, Graeme Trudgill, addresses the big question around business interruption and Covid-19.
Business Secretary states most firms have “not purchased” Covid-19 cover
John Glen said the government is in continual dialogue with insurance sector as he restates companies without the right cover will require support from elsewhere.
Covid-19: Industry "getting hammered" over business interruption, says Biba
Brokers hit back over business interruption following criticism of the entire insurance industry as some call for government assistance in getting the message across.
Blog: The implications of Covid-19 for brokers
Marcus Campbell and Graham Briggs of DAC Beachcroft discuss what brokers need to know to best protect their clients as the Covid-19 pandemic continues.
Covid-19: ABI pledges to address questions raised by Treasury Select Committee
Last week, the Committee wrote to ABI director general Huw Evans requesting insurer data in relation to the coronavirus crisis.
Christian Wakeford MP wants high street brokers to thrive
The former insurance broker chats to Insurance Age about his first few months in Parliament, what he learned from working in the insurance sector and how he is dealing with the coronavirus crisis.
The Insurance Age Podcast: 27 March 2020
Insurance Age editor, Sian Barton, and content director, Jonathan Swift, discuss the top stories this week and talk about their own experience of the coronavirus lockdown.