Business interruption
Blog: The claims lessons to learn from Covid-19
Neill Johnstone of Lorega assesses the impact of the claims experience during coronavirus and outlines what good looks like.
Opinion: FWD Research's Simon Staplehurst on insurer reputations
Reputations at risk: Figures from FWD Research show that insurers’ reputations are at a low among brokers and customers but also reveal some reasons for optimism, writes Simon Staplehurst
Pressure groups’ fury at Supreme Court BI appeals
Eight parties in the FCA business interruption court case have been allowed to leapfrog appeals to the Supreme Court as QIC Europe is denied right to join the test case and Ecclesiastical withdraws.
Profile: Friend or foe? We meet Mactavish CEO Bruce Hepburn
Many in the insurance sector will have strong, and not necessarily favourable, opinions of Bruce Hepburn, but the outspoken Mactavish CEO tells Martin Friel that the consultant’s criticisms of brokers could lead to a fairer and more profitable industry
News analysis: Judgment handed down in BI test case
Brokers react to business interruption case as insurers, policyholders and the FCA consider appeals
FCA prepares appeal after it fails to reach agreement with insurers in BI test case
Regulator says it will continue discussions with insurers and action groups to find a solution for the outstanding issues as soon as possible.
FCA and insurers apply to leapfrog appeals to Supreme Court in BI test case
Regulator says discussions between the parties involved in the case continue ahead of the next hearing on 2 October, as the watchdog along with seven insurers file "precautionary" applications to skip Court of Appeal.
Hiscox urged to start paying BI claims after test case judgment
The night life industry and broker NDML call on the provider to "accept that the time to pay has arrived" in open letter to Hiscox MD.
FCA orders insurers to take action on BI claims
Interim CEO Christopher Woolard sets out the regulator's expectations after the High Court handed down its judgment in the BI test case last week.
Brokers believe BI dispute is "far from over" after test case judgment
Experts discuss next steps for brokers, industry reputation and expectations from clients after the High Court delivered an outcome that differed across the policy wordings under scrutiny.
Law firm looks to expand group action following BI test case outcome
Move comes after the court ruled in favour of policyholders in relation to one of QBE’s policy wordings as well as Marsh’s Resilience wording.
Test case insurers respond to High Court BI judgment
Some providers involved in the business interruption test case are considering an appeal, while others welcome the result.
Biba urges industry to be mindful of its reputation after BI judgment
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.
BI ruling welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court judgment today in the FCA's BI test case and those with prevention of access wordings may also find they have cover, law firm…
Broker NDML pledges to “continue to fight” for QBE clients after judgment
MD Simon Mabb, along with the Night Time Industries Association, says he is both “pleased and frustrated” at the ruling from the High Court, as he notes Hiscox claims have been deemed legitimate, but the QBE result is “still unclear”.
Hiscox expects less than £100m of Covid-19 BI claims after court ruling
The High Court today found in favour of the FCA and policyholders on the majority of the key issues under scrutiny in the business interruption test case.
High Court finds in favour of small businesses and the FCA on majority of issues in BI case
The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close could be entitled to be compensated by the insurers.
CII calls on sector to act now to avoid future FCA test cases
Body urges industry to work on product governance, improving advice processes and establishing an approach to pandemics.
D-Day for industry as FCA reveals date for BI judgment
Insurers will find out next week if their denial of coronavirus business interruption claims is legal.
Brokers under attack as FCA identifies "risks of harm" in sector
In a Dear CEO letter, Roma Pearson, head of retail GI, calls on brokers to address their strategies and improve their governance and warns the watchdog will take action.
Zurich UK GI reveals H1 loss after Covid-19 claims hit £140m
CEO Tulsi Naidu points to positive working relationships with brokers throughout a "time of great stress" as she maintains that the provider is "very well positioned" for the future.
Hiscox and HAG agree on arbitration process as legal dispute continues
The action group, which is also a claimant in the FCA BI test case, started legal proceedings against Hiscox earlier this year after the provider rejected coronavirus-related business interruption claims.
Allianz hits almost £2bn in premium
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
FCA threatens intervention over BI claim deductions
The #justpayit campaign has highlighted that some providers are reducing BI payouts to businesses which have received government support grants.