The clampdown on silent cyber exposure has had unintended consequences for customers with some alterations too “broad brush”, according to Axa UK managing director, underwriting and technical services David Williams.
Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
Businesses due Covid payouts with longer indemnity periods must be aware of clawbacks – and why it is a gamble whether they accept a full and final settlement now or let their cover run.
Exclusive: Insurers should not make deductions from business interruption claims because insureds received government support during the pandemic if doing so leaves businesses at “an overall financial disadvantage”, the Economic Secretary to the Treasury…
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Alistair Steward, Questgates director, mulls the problem of underinsurance for businesses facing a hardening market.
Bruce Hepburn, CEO of Mactavish, argues that the business interruption fallout stems from an imbalance, and questions broker accountability over advice.
Claims firms and no-win-no-fee solicitors have ramped up attempts to get businesses to make Covid-related claims with them following the Supreme Court business interruption ruling – but insurance experts are concerned that fees could be as much as 40% of…
For a sixth year running, Post content director Jonathan Swift scans the insurtech space and identifies up-and-coming businesses potentially worth watching over the next 12 months.
Property investor Aubrey Weis and his company Elcombe have denied Axa’s counterclaim and the issues set out in the provider’s defence document in the ongoing legal dispute over a £1.7m claim.
For the record: The week in deals featuring Aviva, Dual, Revolut, Specialist Risk Group and Willis Towers Watson
Post wraps up the major insurance deals, launches and investments of the week
Combined Property Control has reported that it will rely on admissions made by Lockton as it replied to the broker’s defence document submitted to the High Court in their ongoing legal dispute.
Axa has blamed Lockton for issuing an incorrect certificate as the insurer estimated its liability for the damage portion of a property claim at £541,000 rather than the £1.7m being sought by property investor Aubrey Weis in a High Court action.
Judy Hadden, founder of James Hallam business Oilspill Insurance Services, considers the hot topic of environmental liability cover, which she argues may be difficult to explain and sell but is an important value add.
Broker Lockton has denied acting fraudulently regarding a property developer’s claim, as fresh legal action was brought against insurer Axa.
The world is devoting a lot of energy into finding a vaccine or ‘cure’ for Covid-19. We should know by now that false hope is not an antidote.
Schools have a fire risk almost twice as high as other non-residential buildings, yet are poorly equipped to prevent a fire becoming a major disaster, according to new research by Zurich. Tilden Watson, Zurich Municipal head of education, explains why…
Loss adjusters are on standby following flooding in parts of Wales yesterday, as the Met Office warned of storms across the United Kingdom.
Future Focus 2030: The future of property podcast - how IoT sensors, automation and granular data will shape the next decade
It is the year 2030. The explosion of internet of things devices has really taken hold impacting both the personal and commercial property markets.
Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Qlaims has teamed up with Mason Owen Financial Services and parametric insurance specialist Floodflash in the first use of its claims service for a project management rather than advocacy solution.
The coronavirus pandemic has had a bigger impact on claims handling than other natural disasters, with the average time to contact policyholders after a claim up 55% compared to normal levels, a conference heard.