Claims
Supreme Court issues BI declarations
The Financial Conduct Authority published the document on its website alongside a table to show relevant declarations by policy type.
Broker NDML and night time industry agree £5.2m BI claims settlement with Hiscox
The settlement follows on from the Supreme Court judgment in the FCA's BI test case in January.
FCA data shows Covid BI claims payments now total £875.5m
Updated figures reveal providers have made initial payments for unsettled claims worth £308.9m and final settlements worth £566.6m since the Supreme Court verdict in the FCA test case.
Admiral flags “higher than expected” profit
The business suggested low claims frequency and unusually positive developments in the cost of bodily injury claims will boost its half year figures.
Partners& boss highlights advice-led focus after Kudos buy
CEO Phil Barton reveals how the recent Kudos deal came about and discusses how the purchase of a loss adjuster will enhance the broker's client proposition.
Analysis: Gefion collapse highlights risks of unrated capacity
Niche brokers say they have no choice but to use unrated insurers as compliance experts call for a change of the "unfair" FSCS levy system after the scheme steps in to pay claims following Gefion's bankruptcy.
Peach Pi partners with Tapoly on freelancer cover
The MGAs have co-created cover for freelancers and micro-SMEs operating in the health and wellbeing sector.
Covid BI claims payments hit £765.8m
FCA figures show interim payments of £289.5m and final settlements of £467.2m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,152.
What fraud trends should brokers watch out for?
Insurance Age talks to the LV fraud team about the emerging fraud trends brokers need to be aware of.
Blog: Regulation, the FCA and value – how to stay on track when choosing products and partners?
RAC's Ian Lloyd discusses why breakdown insurance remains relevant today despite improvements in automotive technology and what brokers need to think about when choosing products for their customers.
Ghost broking remains "significant threat", warns Aviva
Provider says general insurance fraud escalated during the pandemic as it predicts recessionary factors caused by Covid-19 have "created the biggest fraud threat to customers in a generation".
Ardonagh Advisory buys loss adjuster
Thompson & Ryan is based in London and has a nationwide presence.
Qlaims partners with Hedron Network
The partnership, which follows GRP's acquisition and rebrand of Marsh Networks earlier this month, will see broker members gain access to a new claims and risk management offering.
Covid BI claims payments hit £701m
FCA figures show interim payments of £268.2m and final settlements of £433.1m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,912.
Interview: Allianz's Simon McGinn on challenges and opportunities in a hard market
McGinn discusses exiting certain trades amid a hard market, changing broker wordings after the Supreme Court judgment in the FCA test case and what is next for Allianz in the UK.
Blog: Beware the hidden dangers of kerb appeal
As pubs, restaurants, and bars re-open with the use of outdoor areas and pavement seating, brokers need to ensure insurers are in the loop or risk disappointment when it comes to a claim warns Tom Hill, executive director at Aqueous Underwriting.
FCA data reveals progress as insurers settle Covid-19 BI claims
Updated figures show providers have made interim payments of £247.7m and final settlements of £352.1m since the Supreme Court verdict, but 12,217 policyholders are still waiting to hear whether their policies provide cover or not.
Video: Covid-19 and the changing claims landscape
Aviva's director of commercial claims, Chris Hughes, discusses the impact the Covid-19 pandemic has had on the claims landscape.
In-depth - claims: Stay prepared
Aviva’s Chris Andrews looks at what risk businesses are facing post-Covid and explains how the right risk management approach can help them prepare for what’s around the corner
Lloyd's to benefit from hardening rates as it continues to take action on underperforming business
CEO John Neal discusses Covid-19 related claims, the continuation of Lloyd's decile ten strategy and the future of the underwriting room.
In-depth - claims: Covid-19 and employers’ liability
With most employees working from home or furloughed in lockdown, it’s been a quiet year for employers’ liability (EL) claims departments. But, while the slips and trips figures may be down, remote working and the pandemic could be triggers for some new…
Pandemic pushes Lloyd's back into full year 2020 loss
Market forecasts customer pay-outs in relation to the Covid-19 will reach £6.2bn on a gross basis.
In-depth - claims: Trends and changes
Covid-19 has had a significant effect on claims in the commercial insurance space
Ardonagh’s Ross “angry for the industry” over "ill-informed" BI backlash
Ross says an industry working group was “on the cusp” of solving the issue around Covid-19 BI claims, when the opportunity was “taken out of our hands” due to the FCA’s test case.