Regulation Analysis
Post-Grenfell surveyor PI challenges – opportunity or risk for insurance?
In the aftermath of the Grenfell Tower fire, the EWS1 form was created to address fire safety issues, however a lack of professional indemnity insurance for the surveyors that sign off this form has thrown another spanner in the works. Could finding a solution be a key opportunity for brokers ...
Briefing: Pandemic evolution creates unanswered questions following Supreme Court ruling
Plus, the professional indemnity claim threat over brokers is ‘a big risk’
Industry experts raise insurance implications after first woman convicted of e-scooter drink driving
A 20-year-old woman in Newport, Isle of Wight was found to be nearly three times over the legal limit of alcohol while driving an e-scooter, industry experts debate the insurance implications
Brokers ‘inundated’ following Supreme Court BI appeals ruling
Brokerbility’s executive chairman says ‘time is of the essence’ as brokers scramble to ‘calm nerves of both staff and clients’
Supreme Court BI ruling acts as ‘rude awakening’ for insurers
The ruling following the test case appeal at the Supreme Court will see insurers pay claims to businesses, as well as review policy wordings - but how have insurers reacted to the decision?
Businesses set to shun D&O cover due to sky-high premiums
As the coronavirus pandemic puts directors’ and officers’ premiums into overdrive, Insurance Times takes a look at potential claims risks and trends in this section of the market
‘Being prepared is key’ – FSCS chief executive Caroline Rainbird on navigating the next financial crisis
The Covid-19 pandemic has seen businesses work in “unprecedented circumstances”, according to the FSCS chief executive. She tells Insurance Times how the pandemic has allowed the firm to think differently
Supreme Court decision is a ‘financial vaccine’ for struggling businesses
However, insurance premiums are likely to increase as ‘insurers seek to recoup some of their losses’
Insurance industry weighs in on post-Brexit Global Health Insurance Card
Following the government officially launching the new GHIC earlier this week as a result of the UK reaching a trade deal with the European Union, how does the insurance industry feel about its impact on cover? Insurance Times finds out
Briefing: FCA reveals anxiety over firms’ financial resilience, but is its heart in the right place?
Despite unveiling a ‘stark’ financial picture of Covid-hit brokers and intermediaries, helping firms stay in business does not seem to be the regulator’s number one priority
Insurers must ‘adjust reserves accordingly’ as PI ruling will ‘significantly add’ to claims costs
Covid-19 pandemic sees more insurers exit financial failure insurance
Changing agricultural trends set to influence farmers’ insurance needs – McLarens
ComparetheMarket fine exposes perils of ‘most favoured nation’ clauses
Conveyancing firm’s demise highlights solicitors’ PI cover crisis
Briefing: The LiP portal a year on – still no nearer to being launched?
Covid-19 pandemic exacerbates opioid crisis as claims surge again
Opinion: A year to forget for many, while opportunity knocks for others
FCA ‘still worried about’ poor behaviour by claims management companies
Culture change towards vulnerable customers is here to stay
The Big Question December 2020: What challenges and opportunities do you expect for 2021?
Insurers and brokers braced for fallout as another latent defects insurer collapses
Briefing: ComparetheMarket shows how weak insurers are versus intermediaries
Industry has work to do to regain customer confidence – Zurich
FCA labels insurers’ arguments as ‘far-fetched’ in Supreme Court hearing
Regulation News
Broker clients ‘more responsive’ to broadening cover due to BI backlash – McCarron Coates
Commercial clients want wide coverage without the price tag, while insurers are trying to recoup returns, says broker director
Insurers less exposed to BI risks in latest lockdown due to new exclusions
Ratings agency director says there is no ‘appetite for providing cover as part of general property business interruption’
FCA plans to use ‘full range of regulatory tools and powers’ to check insurers pay valid BI claims
Furthermore, the regulator recognises the ‘key role that insurance brokers and other insurance intermediaries’ play to ensure policyholders’ claims are progressed
ABI backs government funded indemnity scheme for care homes and pharmacies vaccination
The vaccine minister confirmed that this scheme was to provide insurance such as clinical negligence and employers liability
