Commercial Lines articles – Page 87
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NewsFloodFlash pays Storm Christoph catastrophe claim in 9 hours 44 minutes
It means that policyholders can be paid their claim on the same day
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NewsPIB Group to be acquired by global private equity advisory firm
Broker chief executive believes the acquisition is a ‘significant milestone’
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NewsBroker 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
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NewsInsurers 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’
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News‘Hollowing out is a massive problem’ say Chartered Transparency Forum members
Broker chief executive calls out the disconnect between price and value in insurance and urges insurers to instead offer ‘a genuinely all-embracing contract’
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NewsFCA 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
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NewsBuilding a boutique broker in the time of Covid-19 – Broadway’s Daniel Lloyd-John
Hitting £500,000 gross written premium just three months after launching specialist boutique broker Broadway Insurance Brokers’s founder and chief executive Daniel Lloyd-John tells Insurance Times about his plans for 2021 and why the North West is the ’perfect place’ for his proposition
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NewsOnslaught of Covid claims expected to hit CMCs as 70% see claims registered
Research by broker Gallagher also predicts the pandemic claims uptick will cause a 40% rise in litigation compared to previous years
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FeaturesBriefing: Pandemic evolution creates unanswered questions following Supreme Court ruling
Plus, the professional indemnity claim threat over brokers is ‘a big risk’
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NewsUK insurance market shows ‘divergence’ with London Market prospering while regions suffer
Business interruption will also remain a key risk for 2021, especially for insurers that have non-standard policy wordings, advises ratings agency
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News AnalysisBrokers ‘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’
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NewsABI 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
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NewsSupreme Court BI appeal highlights need for national risk strategy – Totus Re
James York co-founder and co-convenor of Totus Re tells Insurance Times why the Supreme Court decision sheds light on the need for a national risk strategy
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IT Interview‘We’re not interested in profit – we’re interested in building an asset’ says McCarron Coates
The Leeds-based commercial broker tells Insurance Times about its ‘old-fashioned’ approach to broking and why service quality is paramount
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IT Interview‘Personal relationships really matter in this industry’ – SRG’s Downey
SRG boss Warren Downey learned his trade from some of the best and brightest names within UK broking – he tells Insurance Times his story and route to leadership
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NewsSupreme Court BI ruling has produced ‘wordings lottery’ – Mactavish
The firm’s chief executive further believes that ‘the relationship between brokers and insurers requires robust and immediate regulatory action’
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NewsInsurers must act quickly to compensate customers and rebuild trust says Insurtech UK
Insurers will need to rebuild trust with customers following the Supreme Court ruling, but the pandemic has also highlighted the need for digitalisation
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NewsSupreme Court judgment brings clarity to a highly complex matter – Biba and ABI
Although Biba backs the appeal ruling, more clarity is still needed within the industry
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News AnalysisSupreme 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’
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NewsSupreme Court dismisses insurers’ appeals in BI test case ruling
Around 370,000 policyholders are expected to be impacted from the judgment
