Covea Insurance
Headline Makers: October 2022
The key stories from the past month all in one place.
FCA data shows 19% of BI insurance claimants still waiting for full payment
Figures from the Financial Conduct Authority have confirmed that 34,506 business interruption insurance claimants have received their full payment out of 42,586 accepted by insurers.
Covéa personal lines MD James Gearey departs
Covéa Insurance has confirmed that James Gearey, managing director of personal lines and protection, has left the business.
People Moves: 25-29 July 2022
Stay informed of the top personnel changes in insurance.
Insurtech app Honcho shuts up shop
Motor specialist Honcho has closed for business after three years of trading citing difficulty acquiring customers and the competitive environment as reasons for the closure.
Biba adds Covéa as partner
The British Insurance Brokers’ Association has added Covéa Insurance to its roster of partners taking the total to 20.
People Moves: 20-24 June 2022
Stay informed of the top personnel changes in insurance.
Covéa returns to profit in 2021
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.
In Depth: Developing the HNW market for electric vehicles
What are the insurance requirements for HNW electric vehicles and how is the industry responding? Sam Barrett investigates.
Final FCA monthly Covid BI claims update puts payout at £1.35bn
Insurers have made £1.05bn in final payments and £303.1m in interim payments.
Insurer payments for settled BI claims top £1bn
Providers have also made £307.9m in initial payments, according to the latest figures from the Financial Conduct Authority which is set to end its data releases next month.
Covid BI claims payments now at £1.3bn
FCA data shows providers have now made initial payments worth £329.4m and final settlements of £967.9m.
Review of the year: Covéa's Sue Coffey
Coffey discusses how the industry has risen to the challenge and worked together to navigate a difficult period while preparing for "significant" changes in regulation.
Covid BI claims payments reach £1.2bn
FCA data reveals providers have now made initial payments worth £308.4m and final settlements of £916.7m.
The exclusive Insurance Age Broker Satisfaction Survey reveals 2021’s top insurers.
The exclusive Insurance Age Broker Satisfaction Survey reveals 2021’s top insurers.
John Lewis pulls controversial home insurance ad
The TV commercial, which depicts a young boy wearing make-up and women’s clothing, has been removed after the FCA said it was 'misleading'.
Covid BI claims payments surpass £1bn
The latest set of figures from the FCA show providers have made initial payments worth £328.9m for unsettled claims and final settlements of £696.2m.
Covid BI claims payments near £1bn
FCA figures show interim payments of £331.2m and final settlements of £636.7m have been made since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 6,073.
Covéa boss James Reader exits
He is succeeded by current chief operating officer, Adrian Furness, who has been with the provider since 2008.
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.