Business Interruption – Page 6
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FeaturesIn Focus: Broker litigation ‘inevitable’ one year on from FCA’s BI test case
Brokers are ’still squeaky about whether they advised their customers correctly about the products they were buying’
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NewsInsurers have paid more than £750m in interim and final BI payments to date
The FCA calculates that 20,347 policyholders out of 37,702 who have had BI claims linked to the test case action accepted have received at least an interim payment so far
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NewsAXA France offers €300m BI settlement to 15,000 restaurant clients
Settlement offers are expected to be available between 21 June and 20 September 2021
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NewsRSA pays over £80m for UK Covid claims to date
The insurer’s chief executive for UK and international admits that ‘perfect information’ is not needed ‘to make part payments’
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NewsAon using IoT to cover Covid-19 vaccine supply chain is ‘game changer’ says GlobalData
The insurer can establish trigger points, leading to faster claims settlements
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NewsAviva sued for alleged loss of income after Covid office closure
The law firm claims that Aviva owes them money for loss of income due to the Covid-19 pandemic
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FeaturesMatt Brewis: Brokers have a key role to play in providing clarity and data
FCA director says the regulator is ‘suffering’ and needs ’to have a new approach for how we operate in the future’
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News‘More work to do’ on business interruption cover as lockdown lifts
Within business interruption cover, its ’strengths have become its weakness’ in terms of flexibility says Allianz director
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NewsBrokers are ‘absolutely crucial in the survival of SME businesses’ through pandemic
Regarding the Covid-linked business interruption claims debate, brokers were in ‘prime position’ to tell ‘the truth of the story’ said broker director
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NewsBiba 2021: Day One
An expert panel at Biba’s conference yesterday debated the issues that arose from coronavirus-linked BI claims, and highlighted related upcoming issues
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NewsRSA takeover set to complete by end of May
As the deal with Intact and Tryg receives regulatory approvals, group chief exec says the business ‘has never been in better shape’, despite paying more than £45m for BI-related Covid claims
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Breaking NewsQuantum queries causing BI compensation logjam - Momenta Group
Up to one third of companies making business interruption claims during lockdown are still waiting for compensation
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NewsZurich warns e-commerce boom could spark warehouse blaze uptick
Zurich’s claims data shows the average cost of large warehouse fires is £5.9m
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FeaturesIn Focus: What are the most pressing issues for the insurance sector post-pandemic?
The four panel chairs of Biba’s upcoming annual conference in May discuss the most urgent challenges for the insurance industry, as well as explain what the trade body’s annual conference means to them
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News AnalysisAmazon’s latest partnership could mend insurance sector's broken trust
Industry experts debate Amazon Business’s latest partnership with Next Insurance and what it means for insurtechs
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NewsWolseley restaurant owner in battle over business interruption payout
The FCA test case ruled in favour of the majority of policyholders, however some businesses are still allegedly struggling to get payouts
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NewsGovernments must be ‘the leading players’ in insuring BI risk
Governments and insurers ‘must work together’ to close the protection gap, says insurance think tank
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FeaturesBriefing: Firms must show consistency to rebuild client trust
As the industry emerges from the tangle of policy wordings unraveled during the FCA’s business interruption action, the case for consistency from insurance businesses has never been clearer
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IT InterviewPhil Barton: Industry has become ‘incredibly lazy’ in providing advice
The future of commercial broking relies upon moving away from ‘a transactional approach’ to instead embrace partnerships and a clearer client focus
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NewsClose Brothers Premium Finance urges brokers to ‘change gear’
Brokers ’need to change gear and do their bit to bring about a full recovery in 2021’, says financial services organisation
