Regulation Analysis
Opinion: Will brokers end up as the BI fall guys?
Outcome of FCA business interruption test case eagerly awaited
FCA test case could be death knell for brokers’ PI cover if insurers win
Industry voices fear the fallout of the regulator’s test case on the broker PI market, predicting that it could become ‘a backstop for the entire business interruption industry’
Insurance industry backs government’s flood investment plans in fight against climate change
The insurance industry has commended the Department for Environment, Food and Rural Affair’s (DEFRA) record investment £5.2bn as it sets out long-term plans to mitigate flood risks against the backdrop of climate change. Many agree that a common goal must be established to reduce the damage caused by flooding.
Briefing: Aviva should avoid this strategic blunder
New Aviva chief executive Amanda Blanc faces one major issue that needs solving, but she is already facing distractions
The Big Question July/August 2020: What lines of business will harden or be most exposed following Covid-19?
In Insurance Times’s July/August 2020 issue, we ask the insurance market which business lines they thought might harden and which might be the most exposed following the coronavirus crisis.
The history (or mystery) of the broker remuneration debate
The debate recently resurfaced following a report from Mactavish which called out the broker model, but what is the history behind the debate?
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
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
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
Competition watchdog probes brokers over Ardonagh buy
The Competition and Markets Authority is asking brokers a range of questions over an Ardonagh broker buy. Ardonagh is the largest player in UK personal likes broking, rising up the rankings again of our Top 50 brokers following a series of acquisitions led by chief executive David Ross. The competition ...
Opportunity to boost terror insurance penetration seen amid lockdown
Short-term rentals and Airbnb insurers impacted by Covid-19 lockdown
Law firms create interfaces for delayed LiP portal as its deemed ‘too complicated’
Black Lives Matter protests reawaken insurance industry under-representation BAME debate
Coronavirus: Skincare salon misled by insurer over rejected BI claim
Insurance concerns peak as London Mayor taps micro-mobility for green Covid-19 exit strategy
Briefing: Will insurers be able to repair their tarnished reputations?
Premier League poised for kick off, but insurance concerns loom
The Big Question June 2020: When the insurance world returns to offices, what will the ‘new normal’ look like?
Biba denies broker commission is “huge conflict of interest”
Industry set to grow post Covid-19 due to ‘greater appreciation’ of insurance
Hasty migration could increase corporate cyber risk exposure
Briefing: Marsh, Aon, Guidewire, reinsurers - how the Covid crisis will greatly benefit them
Insurance market is on the back foot in dealing with Covid-19 pandemic says law firm partner
Confusion remains on insuring e-scooters, as government fast-tracks trials ahead of coronavirus lockdown exit
Regulation News
African-Caribbean Insurance Network berates insurers for lack of ethnicity pay gap reporting
Group calls for industry to commit to establishing data on their ethnicity pay gap, among other measures
FCA says insurers ‘have been adopting an unduly narrow approach’ for Covid BI claims
The regulator plans on using its test case to ensure business interruption claims are considered without the ‘inappropriate roadblocks that insurers have put in policyholders’ way’
Insurance industry BAME retention issue ‘down to culture’ – African Caribbean Insurance Network
The insurance industry has long had an issue with retaining black and ethnic minority staff and this is ”down to culture”, this is according to the African Carribean Insurance Network.
African Caribbean Insurance Network reveals six steps to racial inclusion in London Market
The African Caribbean Insurance Network (ACIN) has revealed its six recommendations to boost racial inclusion in the London Market.
