Covid-19
Bollington reports profit and turnover surge
Turnover shot up to £23.6m in for the year ending 31 December 2019 from £14.4m the previous year and the broker flags £24m bank loan for deals.
Video: Broker service amid Covid-19
Markerstudy's Gary Humphreys discusses how brokers responded to the challenges of the pandemic.
Video: Lorega addresses Covid-19 response
Andrew Kilgour talks to Insurance Age content director Jonathan Swift about the insurance reaction to coronavirus.
Blog: The post-Covid landscape for broking? It’s too early to tell
Paul Trail, of Close Brothers Premium Finance, consider how the broking landscape might change as we move beyond coronavirus.
In-depth - Personal lines: Taking off after the pandemic
Covid-19 played havoc with the travel industry, but once the initial confusion passed, brokers found new ways keep people protected on their travels
Insurtech Cloud Insurance hires ex-Scheme Serve director for UK launch
Norwegian-based insurtech start-up Cloud Insurance has opened a UK office and is targeting brokers, MGAs and insurers working in niche sectors such pet and health/well-being.
In-depth - Personal lines: Driving forward
Brokers had to be flexible during lockdown as drivers looked to save costs on cars they weren’t using, but the industry has responded with innovative solutions, reports Sam Barrett
Pressure groups’ fury at Supreme Court BI appeals
Eight parties in the FCA business interruption court case have been allowed to leapfrog appeals to the Supreme Court as QIC Europe is denied right to join the test case and Ecclesiastical withdraws.
Brokers on alert as FCA puts client money under the microscope
In a fresh dear CEO letter to brokers, interim CEO Christopher Woolard warns that the regulator is assessing firms’ arrangements and tells brokers it is imperative to safeguard the client money they hold for customers.
Blog: The digital path forward and planning for the new normal
Applied systems’ Andy Fairchild looks at how brokers can move forward in a world reshaped by Covid-19.
News analysis: Judgment handed down in BI test case
Brokers react to business interruption case as insurers, policyholders and the FCA consider appeals
FCA prepares appeal after it fails to reach agreement with insurers in BI test case
Regulator says it will continue discussions with insurers and action groups to find a solution for the outstanding issues as soon as possible.
FCA and insurers apply to leapfrog appeals to Supreme Court in BI test case
Regulator says discussions between the parties involved in the case continue ahead of the next hearing on 2 October, as the watchdog along with seven insurers file "precautionary" applications to skip Court of Appeal.
Ardonagh reports adjusted Ebitda of £99.9m
The Towergate and Atlanta parent published results for the first six months of 2020 and reveals prices for Arachas and Bravo Group.
Hiscox urged to start paying BI claims after test case judgment
The night life industry and broker NDML call on the provider to "accept that the time to pay has arrived" in open letter to Hiscox MD.
Parametric insurtech FloodFlash targets bigger risks with new launch
Insurtech FloodFlash has launched a new iteration of its parametric commercial flood insurance designed to support risks and portfolios where the flood premium is between £20,000 and £1m annually.
Beazley revises Covid-19 claims estimate up to $340m
This is up from April’s $170m prediction, however, the insurer said it did not expect the outcome of last week’s FCA business interruption judgment to have a material impact.
FCA orders insurers to take action on BI claims
Interim CEO Christopher Woolard sets out the regulator's expectations after the High Court handed down its judgment in the BI test case last week.
Brokers believe BI dispute is "far from over" after test case judgment
Experts discuss next steps for brokers, industry reputation and expectations from clients after the High Court delivered an outcome that differed across the policy wordings under scrutiny.
Blog: Has the pandemic strengthened the case for brokers to seek PE deals?
Partnering with private equity may help brokers succeed during what looks set to be a complex, challenging, but potentially rewarding period, argues Andrew Backen, partner, Equistone Partners Europe.
Test case insurers respond to High Court BI judgment
Some providers involved in the business interruption test case are considering an appeal, while others welcome the result.
Biba urges industry to be mindful of its reputation after BI judgment
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.
BI ruling welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court judgment today in the FCA's BI test case and those with prevention of access wordings may also find they have cover, law firm…
Broker NDML pledges to “continue to fight” for QBE clients after judgment
MD Simon Mabb, along with the Night Time Industries Association, says he is both “pleased and frustrated” at the ruling from the High Court, as he notes Hiscox claims have been deemed legitimate, but the QBE result is “still unclear”.