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News AnalysisLancashire falls to $23m H1 loss as Covid-19 claims hit hard
The insurer increased its loss estimate for Covid-19 to $42m
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News Analysis
Lemonade’s IPO – what does it mean for the insurance industry?
Insurtech Lemonade’s shares doubled in value on its first day of trading on 2 July, surging from $29 to $69.41; this followed the firm filing for an Initial Public Offering (IPO) back in June.
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News Analysis
Briefing: It’s been a bad week for insurers, but lose the FCA test case and things could get a lot worse
Not only could insurers be found liable for claims, they may also be forced to pay interest and subsequent claims for businesses that have gone under as a result of the delay in business interruption payments
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News Analysis
British theatres face re-opening post-lockdown, some with no insurance
With lockdown unwinding, British theatres were given the go ahead to reopen on the 11 July for outdoor performances, but many are struggling to find insurance.
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News Analysis
Quantum questions to follow FCA test case
If the High Court rules that insurers are liable for their policyholders’ Covid-19 business interruption losses, then agreeing quantum for specific claims amid a myriad of coronavirus-related factors will be insurers’ next hurdle
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News Analysis
Government fast-tracks work with insurance industry amid draft Building Safety Bill
After the third anniversary of the Grenfell Tower fire, the UK government has published its draft Building Safety Bill.
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News Analysis
Broker schemes susceptible to Covid claims fallout
Although broker scheme policy wordings are typically the result of broker and insurer collaboration, industry voices believe schemes could be ‘possibly more exposed’ to Covid-19-related BI claims ‘purely because some of the wordings may not have received the usual insurer level of scrutiny’
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News Analysis
Covid-19 has polarised consumers on data sharing
Insurers will be challenged with how they respond to the polarising impact of the coronavirus pandemic, and they must not fall into the trap of excluding a large swathe of vulnerable customers from their books of business
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News Analysis
Briefing: How coronavirus has changed the personal lines playbook
Denied business interruption claims has been the big story in insurance over the last few weeks, but personal lines insurers cannot rest on their laurels when it comes to the changes facing the market as a result of Covid-19
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News Analysis
Coronavirus: B&B owner faces ‘timebomb of debt’ after BI claim rejected by AXA
The results from the FCA’s test case could come too late to save struggling SMEs that are facing daily financial hardship as a result of the Covid-19 pandemic. Insurance Times hears from Stamford House Bed and Breakfast about its claims experience and fears for the future
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News Analysis
A look back at the career of new Aviva CEO Amanda Blanc
As Amanda Blanc takes over from the departing Maurice Tulloch, Insurance Times takes a look back at an insurance career that spans more than 30 years
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News Analysis
Local Leicester lockdown could prove ‘difficult for insurers’ defending rejected BI claims
Business interruption policies triggered by Covid cases at the insured premises, or within a defined radius, may come under closer scrutiny as city-centric lockdown confirms the local impact of the pandemic
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News Analysis
Briefing: The sorry (but unsurprising) tale of Gefion’s collapse
Solvency and liquidity issues have dogged the unrated Danish insurer for years, but brokers will be hoping that early regulatory intervention will have saved them a lot of pain as the insurer’s collapse continues to unfold
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News Analysis
The Insurance Times top 5 insurer collapses
Following the news that unrated Danish insurer Gefion has gone into liquidation after its licence was revoked, Insurance Times takes a look at five of the biggest insurance disaster stories of the last 20 years
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News Analysis
Briefing: Could brokers be next in-line for the Covid-19 BI scandal?
The FCA test case on the validity of business interruption claims in the wake of the coronavirus outbreak will start next month. While insurers have been the ones under the spotlight so far, brokers could be next if insurer’s get a favourable outcome
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News Analysis
Ardonagh downgraded following £2bn refinancing deal
But rating agency Fitch says it expects the broking group to continue to improve its EBITDA margin amidst the potential for increased cost savings as a result of its latest round of acquisitions, as well as a return to ’healthy’ free cash flow
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News Analysis
Short-term rentals and Airbnb insurers impacted by Covid-19 lockdown
With lockdown easing, the sharing economy may be able to recoup some losses, but at the same time new risks and property exclusions have emerged
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News Analysis
Law firms create interfaces for delayed LiP portal as its deemed ‘too complicated’
Some law firm’s have created their own technological interfaces to support insurers responding to claims or claimants filing one, Insurance Times investigates why
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News Analysis
Black Lives Matter protests reawaken insurance industry under-representation BAME debate
As protests for Black Lives Matter break out across the UK and globally following George Floyd’s death, the incident has opened up a dialogue in the insurance industry about the low levels of Black Asian and Minority Ethnic (BAME) representation
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News Analysis
Win or lose, the FCA test case on BI claims will not be good for insurers
When the FCA announced it was taking a test case to the High Court to provide clarity on the confusion around business interruption claims in the wake of the Covid-19 pandemic, insurers were worried
