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News AnalysisFCA pricing report benefits customers – but is there more to it?
At face value the FCA pricing practices report benefits the customer, and while the insurance industry largely backs the proposals, there have been a number of concerns raised over its implementation
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News Analysis
MCI completes management buy-out from underwriting platform Castel
Following the deal, MCI will be led by chief executive Philip Trafford
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News Analysis
Briefing: Lloyd’s results revealed a big Covid-19 hit, but under the surface things may be looking healthier for the market
The Covid-19 pandemic forced Lloyd’s half-year COR up to a highly unprofitable 110.4%, but underneath, a disciplined approach to underwriting could be setting them up for a return to profit in 2021 By insight editor Matt Scott
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News Analysis
Universities and colleges face increased cyber threat
The National Cyber Security Centre issued an alert to the sector after a spike in the number of ransomware attacks
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News Analysis
Fraudulent claims could arise from Leighton Buzzard earthquake
Although some residents reported their houses were shaking as a result of last Tuesday’s quake, insurance professionals are taking a more sceptical view of property claims due to ‘very minor’ tremors
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News Analysis
Policyholders need to home in on balance sheets to take advantage of test case verdict
Although claims preparations can now go ‘full steam ahead’ following the publication of the High Court’s ruling, projected profits and losses must be considered for quantum purposes
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News Analysis
FCA called out as ‘shining example of regulatory intervention’ for test case action
Despite being celebrated as a policyholder victory, many legal professionals feel this reaction to the test case verdict could be ‘premature’ as the likelihood of an appeal from insurers still looms large
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News Analysis
BI test case decision is ‘conclusive judgment in favour of policyholders’
Industry expert says the verdict is ‘no surprise’, however the industry is ‘nowhere near the finishing line’ as insurers now need to reassess their business interruption policy wordings
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News Analysis
Test case judgment could be ‘the difference between life and death’ for Covid closed businesses
Brokers rejoice as High Court ruling provides clarity for customers’ business interruption claims caused by Covid-19 pandemic
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News Analysis
High Court rules in favour of FCA for majority of Covid-related BI wording interpretations
As the High Court ruling was revealed this morning, Insurance Times finds out what some of the industry thinks about the verdict
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News Analysis
Insurance industry relays recommendations as pre-legislative draft Building Safety Bill scrutinised
As the draft Building Safety Bill (BSB) 2020 was scrutinised yesterday afternoon in Parliament, the insurance industry gave its recommendations and raised its concerns about the pre-legislation.
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News Analysis
Business interruption test case judgement will not be the ‘final word’
Law firm partner says that there will be an ‘inevitable appeal’ following the delivery of the FCA’s test case verdict tomorrow and that early 2021 may be a more realistic timeline for the concluding decision
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News Analysis
Hospitality and leisure sector should expect ‘surge’ in EL claims
Law firm partner notes ‘that Covid negligence claims will make PPI claims look like a warm-up act’
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News Analysis
FCA test case result will be of ‘crucial significance’ says law firm partner
The verdict, which is to be announced tomorrow, will also ‘provide persuasive authority in a number of common law jurisdictions’
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News Analysis
Briefing: How covid has killed networking and what it means for (re)insurance
With the Covid-19 pandemic putting a stop to industry conferences and networking events, innovation and relationship management is taking a hit By insight editor Matt Scott
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News Analysis
Gender pay gap reporting must be ‘robust’ before moving onto ethnicity
During a webinar yesterday, Anthony Horrigan chief executive at Spktral discussed why ethnicity pay gap reporting is more complicated than gender and why the insurance industry still has a long way to go
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News Analysis
Vulnerable customers on the rise post-Covid-19, but insurers and brokers can help with better credit options
New research from Consumer Intelligence, published exclusively by Insurance Times , reveals how vulnerable customers are being affected by the pandemic, as well as why this represents an opportunity for brokers and insurers to boost their brand’s reputation and their underlying business performance by offering better credit options for paying ...
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News Analysis
Online fraud and cyber scams soar during pandemic lockdown but insurance for it 'fairly new'
A spike fraud and cyber scam in cases has exposed a new risk for the cyber insurance market, Insurance Times looks at what the industry is doing to protect vulnerable customers during the pandemic and why some many not be covered if they work remotely
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News Analysis
‘Keen to make acquisitions’ – Gallagher chiefs discuss M&A strategy
Gallagher has a strong balance sheet and a track record of buying UK brokers. Gallagher UK underwriting and broking boss, and M A head Olly Homer, discuss acquisitions. The duo insist a strong cultural fit is paramount in making a deal.
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News Analysis
Briefing: Insurers need to prepare for the economic and social fallout from Covid-19
The coronavirus pandemic has created a new world for insurers to operate in, and it is one that is made up of new and increased risks. Insurers will need to adapt to this new risk landscape if they are going to thrive in the new normal By insights editor ...
