Business interruption
Broker wordings behind Allianz's Covid-19 BI claims hit
UK CEO Jon Dye discusses the business interruption test case and why communication with brokers is critical, after Allianz revealed its total impact of Covid-19 BI claims in 2020 was £175m, net of reinsurance.
Allianz nears £4bn in GWP
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
FCA and insurers disagree on how to interpret Supreme Court BI ruling
Regulator says Supreme Court decision gives insurers the clarity they need to conclude their claims processes with most of their BI customers but a few issues still remain as parties make written submissions to the Supreme Court.
Biba zones in on resilience in 2021 manifesto
Manifesto includes a number of commitments from the broker trade body, covering areas including underinsurance as a result of the pandemic, IPT, cyber insurance and signposting to help customers access insurance.
Private equity behind 71% of UK broker deals in 2020
Exclusive: Mazars' Simon Fitzsimmons discusses why the broking sector is attractive to private equity and international investment and predicts we will see fewer larger deals in 2021.
News analysis: Brokers warn of confused clients and damaged reputations after BI test case judgment
Industry reacts to Supreme Court’s decision to dismiss insurers’ appeals in FCA BI test case
FCA launches policychecker for BI customers
The regulator has developed the tool to help policyholders find out if their wording is affected by the Supreme Court's coronavirus ruling.
Howden to buy in the UK as it confirms £500m war chest
CEO David Howden hopes A-Plan will help attract UK brokers who do not want to join the "traditional aggregators" as it explores deals of all sizes.
FCA orders insurers to pay claims swiftly following Supreme Court ruling
In a letter to insurers, FCA executive director Sheldon Mills, urges firms to reassess and settle valid BI claims.
Blog: The broker fallout from the Supreme Court BI ruling
Ashwin Mistry slams those attacking brokers and warns that the Orient Express ruling could leave some sectors uninsurable.
Biba reveals measures to help brokers in light of Supreme Court judgment
Trade body to issue package of guidance and host a webinar to help members "manage some difficult conversations" after brokers are inundated with calls from clients hoping to claim.
BI test case: Brokers buried under avalanche as clients clamour to claim
Brokers say national press coverage has led to confusion and a massive increase in client calls as they await communication from insurers on how to proceed.
Blog: Why the BI ruling offers brokers the perfect opportunity to show their mettle
Following the Supreme Court business interruption ruling last week, Jonathan Swift argues brokers need not join their insurer partners in suffering Murder By the Orient Express, but instead play an important role in helping policyholders understand what…
Test case insurers promise action after Supreme Court defeat
Providers pledge to review claims and contact customers after the Supreme Court sided with the FCA and policyholders in the final verdict over payment of BI claims arising from Covid-19.
Insurers urged to pay claims quickly following BI ruling
The Supreme Court concluded the Covid-19 business interruption dispute by substantially ruling in favour of policyholders.
Supreme Court rejects insurers' appeals in BI test case judgment
The court also concluded that the Orient Express case, which insurers relied on during the hearing, was wrongly decided and should be overruled.
BI test case Supreme Court judgment expected next year
The FCA has said that no judgment will be handed down before January 2021.
FCA consults on how best to prove presence of Covid-19
The regulator is asking for comments by 18 January 2021 and says it does not expect this aspect of the BI court case to be affected by Supreme Court BI appeals.
Aviva grows UKGI commercial lines premium by 10%
Overall premiums remain flat after the provider continues to shrink its personal lines business, as Aviva also revises its expected impact from Covid-19 related claims to around £100m.
No firm deadline for Supreme Court BI judgment
Judges pledge to work quickly but there is no certainty on when policyholders and insurers will get a decision on the business interruption appeal as hearing concludes.
HAG says Hiscox policies are "complex and unworkable" in Supreme Court appeal
The action group put forward its arguments on the last day of the Supreme Court BI test case hearing.
FCA counsel argues "insurers took the plunge" on disease clause
The Superme Court hearing of the business interruption test case continued for the third day as lawyers compared coronavirus to the Great Storm of 1987.
Blog: Change the front page
Biba’s Steve White considers the impact of recent headlines that don’t reflect the real truth about insurance.
Insurer QC accuses FCA of "hair splitting wordsmithery” as Supreme Court showdown continues
Insurers and the regulator set out their starkly differing views on the use of trends clauses on day two of the ongoing business interruption test case hearing at the Supreme Court.