Claims
FCA reveals insurer claims payouts following BI test case verdict
Regulator says providers have paid out £192.1m in interim payments for unsettled claims and £279.8m in final settlements at it reiterates order to pay out quickly.
Blog: Cyber – challenges and opportunities of a fast-evolving market
McLarens cyber expert Nigel Collins shares key insights about this developing sector from the claims space.
Aviva’s Covid-19 BI claims exposure down to broker wordings
GI CEO Colm Holmes says provider has taken a proactive approach to paying claims as he discusses how Aviva was impacted by the BI test case and comments on its 2020 results.
Hiscox posts £192m loss in 2020
Provider says results were impacted by the pandemic, as COR worsened to 114.5% while GWP remained flat.
Masojada: Hiscox regrets "anguish and uncertainty" caused by Covid-19 BI dispute
CEO discusses the need for the insurer to rebuild its brand and reputation as a result of the BI disagreement as insurer posts £192.4m loss for 2020.
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.
Analysis: Are we moving towards market failure for high-rise buildings?
PI and property rates were hit hard following the Grenfell fire horror. Martin Friel investigates the wider insurance implications but is met with deafening silence from providers as brokers sound the alarm.
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.
Video: Record flood claim settlement underlines value of parametric insurance
Floodflash founder CEO Adam Rimmer talks to Insurance Age content director Jonathan Swift about how it paid a Storm Christoph claim in January within 9 hours and 44 minutes.
Aqueous unveils lockdown unoccupancy cover for retail and hospitality clients
MGA says cover will be triggered automatically in the event of a new lockdown of any duration, without the need for the broker to request it.
Pen launches specialist fleet claims service
The proposition is designed for policyholders who transport hazardous goods.
Opinion: Eliminating the expectation gap
Aston Lark’s Peter Blanc explores how brokers can overcome one of the biggest obstacles in insurance – customer expectation and the reality of claims
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.
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.
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…
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.
SMEs “disappointed” by way insurance firms handled Covid claims
CII survey highlights how trust in the profession slipped in 2020 due to the pandemic.
Claimants reply after Axa puts blame on Lockton in legal row
Property investor Aubrey Weis has disputed claims made by Axa in its defence document.
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.
Axa’s defence in legal spat with property investor “untenable” say claimants
Martin McKeague, representing Aubrey Weis, says allegations made in Axa’s defence documents would have “huge ramifications” on the insurance industry.
CPC replies after Lockton denies fraud allegations
Property investor Aubrey Weis to rely on admissions made by Lockton in its defence documents at trial, after the broker admitted that a certificate of insurance for the 2019/20 policy year had been issued containing an error.