Covid-19 – Page 29
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NewsHiscox records loss before tax of $268.5m in 2020 due to Covid impact
The insurer has reserved a total $475m to cover the costs of the pandemic as profits plummet – chief executive labels last year’s performance as ‘not satisfactory’
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NewsCII flags four areas of reputation risk for brokers
The trade body’s Society of Insurance Broking says that ‘improving the reputation of the insurance sector is a key priority’ if professionals want to boost customer trust in the sector
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News AnalysisBI test case was ‘a difficult moment during the year for RSA’ says UK boss
The insurer’s chief executive for UK and international business admitted that ‘there’s work to be done in 2021’ around business interruption coverage and reputational repair
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NewsLive music and insurance industries call for government backstop for Covid cover
To provide the confidence and security to restart live music events this summer, the insurance and music sectors believe the government must ‘bridge the gap for coronavirus cancellation insurance’
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NewsJacqueline McNamee’s insurtech MGA plans rapid expansion
The insurtech MGA’s chief executive McNamee says the firm is in a ‘strong position’ to drive exponential growth
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NewsAllianz could gain a competitive advantage via insurtech partner’s instant claims strategy
GlobalData believes that targeting immediate claims payouts is a ’good strategy’ from Allianz
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Newsiprism unveils product for unoccupied properties
Brokers expect an increase in unoccupied commercial properties as a result of economic disruption
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NewsLloyd’s plans underwriting room reopening
The market further plans to ‘fully adopt’ flexible working from 21 June
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NewsInsurtech UK calls for end to VAT regime for insurtechs ahead of Spring Budget 2021
The trade body discusses the challenges that insurance premium tax causes the insurtech sector in the run up to the topic potentially being debated later this week on 3 March
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People & OpinionQ&A: Pearson Ham on the post-Covid-19 hard market as a ‘opportunity for insurers’
Stephen Kennedy, Pearson Ham’s director tells Insurance Times why the hardening market post-covid could be an opportunity for insurers alongside discussing challenges ahead
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People & OpinionQ&A: Insurtech benefits apparent amid pandemic but complex claims need a human touch – Gallagher Bassett
Andrew Sewell, Gallagher Bassett’s UK technical director speaks to Insurance Times about insurtech and how the pandemic has demonstrated the sector’s importance, but a human touch is still necessary for complex claims
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News AnalysisRSA’s UK&I business ‘is absolutely on track’ despite being ‘heavily impacted by Covid’
Chief executive Scott Egan says he is ‘really excited’ by RSA’s acquisition and that broker partnerships are ‘key to our success’
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News‘Doing nothing is not an option’ following BI test case says ABI’s Huw Evans
The director general admitted that communications to company owners regarding their business interruption coverage was ‘too harsh and too insensitive’ early on in the Covid-19 pandemic, and that cyber insurance is the next coverage insurers and brokers need to keep an eye on
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NewsThe Big Question March 2021: How do the current market conditions compare to previous ones for professional liability classes?
With the UK set for an economic downturn amid Covid-19, professional liability classes have had quite a ride as a result. Insurance Times asked industry experts how the current market compares to previous ones for this line of business
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NewsThe future of MGAs will be defined by data – Willis Re
Overseas capacity providers are attracted to the UK market, but especially to businesses that have generous data capabilities
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NewsRSA reports £166m hit from Covid-19 for 2020
The insurer paid out £259m in group-wide claims costs pertaining to the coronavirus pandemic
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FeaturesBriefing: FCA prepares to bare teeth over the treatment of vulnerable customers
New guidance from the regulator points to greater monitoring and oversight of firms’ treatment of vulnerable customers as part of its supervisory approach – will this change be welcomed, or viewed as another regulatory burden?
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FeaturesIn Focus: ‘Enabler’ insurtechs will provide digital skill set to steer insurers out of pandemic – Sønr
Insurtechs offer a ‘great opportunity’ to assist large corporate insurers in making a ‘digital shift’ says Sønr chief executive
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NewsAXA reports 3% drop in gross revenue for UK and Ireland in 2020
The insurer has also sought to minimise future exposure to Covid-19 claims by using exclusions within its business interruption and event cancellation policies
