Business Interruption – Page 4
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NewsHospitality group Corbin and King wins £4.4m in High Court BI case against Axa
Insurers need to have a ‘radical rethink’ as more business interruption battles are expected to come to the forefront in 2022, says law firm partner
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NewsStorm Eunice rips London O2 Arena’s roof off
The landmark’s roof is regularly used by the general public for scaling and abseiling
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NewsCurbing etrading referral delays requires brokers to understand insurers’ risk appetite
Live chat facilities and developing new capabilities in broker management systems will also help relieve referral build up
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NewsRomero Group grows income by 14.3% in 2021 despite hard market
The broker has also helped to settle £13m in Covid-19 business interruption claims
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NewsSuperscript launches digital emerging risks insurance advisory
The insurtech aims to ’reduce the burden of insurance for businesses’
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NewsInsurance sector must ‘look calmly’ at the lessons learned from BI test case – John Glen
Economic secretary to the Treasury believes ‘brokers will play a crucial role in rebuilding consumer trust and developing clearly worded policies going forward’
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NewsManifesto 2022: Business interruption insurance needs more clarity – Biba
Biba members have said that a 12-month indemnity period is not long enough
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NewsCocktail bar chain leads formation of BI action group against RSA and QIC Europe
UK restaurant and bar group’s ‘substantial’ claim highlights how hospitality businesses are having ‘to fight tooth and nail to obtain an indemnity’, says company director
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NewsCyber outranks Covid-19 and supply chain risk as biggest concern for global businesses – Allianz
However, business interruption remains a ‘key theme’
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AnalysisBriefing: One year since Supreme Court’s BI judgment, yet outstanding questions remain
Law firm reveals litigation around BI claims is still on the table for this year, especially as the FOS appears to be siding with insurers in the majority of BI-linked cases since last January
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NewsThe Wolseley restaurant owner still in Covid-related BI dispute against insurer
The case will be heard in the High Court on 24 January 2022
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NewsA fifth of UK SMEs say trust in insurers bolstered due to Covid-linked BI test case
However, ongoing BI disputes show the ramifications of the pandemic are not over yet, which could work to damage insurers’ reputation, says data and analytics firm
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IT InterviewHiscox paying up to 800 BI claims a month despite policyholder information struggle
Outgoing chief executive confirms that the insurer has accepted around 10,000 business interruption claims linked to the Covid-19 pandemic
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AnalysisParametric products will have role to play in closing protection gaps
Broker and insurer collaboration will be vital to create parametric ‘products that will meet the challenges of new risks and rising demand’
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NewsGeo Specialty broadens UK political violence and terrorism BI cover
Cover will also include the increased cost of working while clients are unable to access their premises following an attack
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NewsBoom in business protection complaints show customers still feel ‘hard done by’ – Insurance DataLab
Despite the High Court’s ruling to clarify business interruption claims, complaints have increased more than fourfold over the last year
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NewsBrokerFest 2021: SMEs face underinsurance risk around intangible assets
Although cyber cover for SMEs is a ‘tough sell’ for brokers, these businesses should be encouraged to seek expert advice ‘because they won’t understand intangible risks as well as brokers do’
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NewsBrokerFest 2021: Parametric insurance provides efficiency and business resiliency – FloodFlash
The ‘most exciting’ development in parametric insurance is its use in non-damage business interruption, says broker success manager
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NewsBrokers call out ‘conflict of interest’ in delayed government-backed £750m live events reinsurance scheme
Concerns over a ’conflict on interest’ has been raised by several brokers in the market
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NewsBrighton Pier Group receives £5m following Covid-linked business interruption claim
The claim relates to losses incurred to the end of June 2021
