Insolvency
Trade Credit Insurance is again in the spotlight. How can brokers take advantage?
Described as a ‘sleeping giant’ of the insurance market, brokers should wise up to the opportunities offered by trade credit. Especially, as Martin Friel discovers, recent geo-political events mean this vital safety for businesses is edging to toward the mainstream.
‘Massive blow’ for UK insurtechs averted as key bank is rescued
The Financial Conduct Authority has moved to reassure customers of their rights following the rescue of Silicon Valley Bank.
Property pricing up 6% in Q2
Insurance pricing in the UK increased by 11% in the second quarter of the year but this was down on the 20% rise in Q1 of 2022, according to the latest research by Marsh.
Towergate Underwriting hit with £3.3m suit by pub over non-paying Gable policy
Few Inns has launched court proceedings against Towergate over a Gable policy which failed to pay out following a fire at one of its pubs in 2015.
Lloyd’s wholesale broker Corrie Bauckham Batts goes into liquidation
The Financial Conduct Authority has confirmed that Corrie Bauckham Batts went into liquidation on 20 April with John Dean Cullen and Rachel Helen Lai of Menzies appointed as joint liquidators.
Blog: Reducing the personal guarantee risk of solicitors’ PI
Todd Davison, managing director of Purbeck Personal Guarantee Insurance, assesses a particular challenge facing brokers and the solution available as the solicitors professional indemnity insurance renewal season fast approaches.
MCE: Edwards hits out at administrator over MTA u-turn
MCE Edwards says he is “ashamed of the profession” and warns that the decision could impact vulnerable customers.
MCE slams Gibraltar regulator after insurer arm goes into run-off
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
FSCS confirms MCE Insurance Company has failed
The Gibraltar-based business went into run-off on 5 November, citing difficulties with Solvency II, while the UK-headquartered division of the company has signed a fresh capacity deal with Sabre.
FSCS declares unrated Gefion has failed
The troubled Danish insurer, which sold motor policies via brokers and MGAs in the UK, went into liquidation last year after its insurance license was withdrawn by the Danish regulator.
Liquidators appointed for Gefion Insurance
The unrated provider recently went into solvent liquidation after the Danish regulator withdrew its insurance license.
FSCS "standing ready" to deal with customer impact from Gefion
COO Jimmy Barber discusses Gefion's solvent run-off, previous insurer failures including Alpha and Enterprise, and why he believes brokers are integral to the Scheme.
Gefion enters liquidation after it loses insurance license
The troubled Danish provider says it is "disappointed" after Danish regulator refuses three-month extension to its recovery period forcing it into run-off.
Tradewise Insurance Company enters voluntary run-off
New capacity deal will see UK partner Tradewise Insurance Services write motor business into 2020.
2019 in review: May's top stories
The top stories in May were dominated by insolvencies, run-offs, liquidations, and redundancies.
Orbit Underwriting administration period extended
Administrators hope to add to the £7.43m already raised from the firm.
CRL Management likely to close amid Alpha fallout
Alpha was CRL's sole provider until it went bankrupt last year, and CRL has filed a document on Companies House which proposes the firm is wound up.
FSCS pays out to Lamp GAP and health customers
Gibraltarian insurer went into liquidation at the end of May.
FSCS makes first compensation payments to clients of Lamp
Payments made to clients who had outstanding property damage claims at the time of the insurer’s collapse.
Lamp declared in default following insolvency
The FSCS is still in the process of identifying how many UK policyholders are affected by the failure of Lamp as Now4Cover seeks replacement provider.
Lamp enters liquidation following Supreme Court decision
The Official Receiver has appointed Grant Thornton's Gibraltar office to manage the liquidation.