coronavirus
Blanc to focus on UK, Ireland and Canada to intensify Aviva growth
The CEO said that as part of this there may be some market withdrawals and “difficult” decisions as she reaffirms Aviva’s commitment to brokers as UK COR soars amid Covid-19.
RSA threatens 300 redundancies
The insurer is also seeking to tackle complexity in its portfolio and downsize its office footprint following increased remote working in the wake of Covid-19.
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.
Hiscox COR soars to 114.6% and losses hit $138.9m
The provider has also reserved $232m for Covid-19 related claims as it reports H1 2020 numbers.
Grumpy Old Insurance Execs: Bunker, Cooter, Hanks and Smith on trading through a hard market
For the 36th episode of Post and Insurance Age’s Covid-Cast video series we gathered together an esteemed panel of ‘grumpy old insurance execs’ to talk about how to trade through a hard market, something many might have not experienced before.
BI court case judges aiming for draft judgment in mid-September
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
RSA posts drop in premium in H1 2020
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
QC accuses FCA of failure to show causal connection between government action and the disturbance to the insured businesses
Insurers argued the Financial Conduct Authority is “unable to demonstrate” any meaningful connection between the action taken by the UK government on a national basis in response to Covid-19 pandemic and the locality of firms’ premises, as the court…
Sabre reports GWP of £86.9m for first half of 2020
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.
Insurers’ QC claims FCA is “forcing a square peg into a round hole” in BI test case
Providers argue regulator’s case doesn’t work because access to premises was not prevented during pandemic as lawyers for Hiscox, Ecclesiastical, MS Amlin, Arch Insurance and Zurich make their submissions.
Unprecedented challenge for broker PI as prices double and exclusions threaten non-compliance
News analysis: Experts question legality of Covid-19 exclusions in brokers' PI policies and warn of trouble with doubling of premiums, providers reducing capacity, as compliance specialists call on the FCA to make it clear whether Covid-19 exclusions are…
Hiscox QC accuses FCA of “tearing up the rule book on causation”
Jonathan Gaisman, QC, branded parts of the Financial Conduct Authority’s arguments as camouflage, a misuse of language and “blurring every divisible thing into one amorphous mass” as he defended Hiscox in the ongoing business interruption test court case.
Covid-19: FCA seeks to extend measures to help insurance customers who are struggling financially
The regulator wants the measures, which require firms to consider premium reductions and payment deferrals, to be extended to 31 October.
RSA QC lambasts ‘clear misuse’ of the word ‘peril’ by action group
Representing RSA, David Turner QC, accused the Hospitality Insurance Group Action of “clear misuse” of the word ‘peril’ on the on the fourth day of the hearing of the Financial Conduct Authority’s Covid-19 business interruption test case.
Blog: Insurance in the danger zone
The FCA BI case is dragging the reputation of the whole insurance sector through the mud. Ashwin Mistry reflects on how trust can be restored.
QC calls on court to treat insurers fairly
Insurers dive into the causation debate, slamming the FCA’s approach to the ‘but for’ test as the business interruption case continues in the High Court.
Lloyd’s approves syndicate to insure transportation of Covid-19 vaccine
The syndicate-in-a-box is supported by Ascot, Axa XL and McGill and Partners.
Hiscox blasted by QC over policy interpretation
The arguments set out by Hiscox in its defence over non-payment of business interruption arising from Covid-19 are too narrow, unrealistic and uncommercial according to Hiscox Action Group.
Covid-19 hit pushes Beazley into pre-tax loss in H1 2020
Provider expects its pandemic-related losses to amount to $170m as it takes underwriting action in its liability lines of business.
Action group brands insurers' focus on lack of specific pandemic cover 'a diversionary tactic'
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
FCA picks apart insurer reliance on Hurricane Katrina judgment in BI test case
On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
AllClear launches travel package with Covid-19 cover
The product is backed by Mapfre and AllClear CEO Chris Rolland confirms it is available for other brokers to sell.