Covid-19 – Page 61
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NewsCycling insurance searches see 63% uptick during lockdown
The figures suggest that there is a growing concern about cycling risks
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News AnalysisHasty migration could increase corporate cyber risk exposure
With another high-profile cyber attack case during lockdown, a new challenge has been created for brokers
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NewsAviva estimates Covid-19 impact on specialist schemes and brokers as related BI claims reach £200m
Insurer Aviva has estimated that business interruption (BI) claims related to the Covid-19 pandemic will amount to around £200m across its global general insurance portfolio, net of reinsurance.
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NewsCustomers need brokers “more than ever” says Ross after Ardonagh reports uptick in EBITDA despite coronavirus crisis
The broker attributed this growth to “accretive investments in growth initiatives, including producer hires, bolt-on acquisitions, and the continued delivery of cost savings”.
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NewsUniversally paying BI claims not covered under policy terms would put insurer solvency at risk, says ABI
Replying to an open letter from Stephen Gould, chairman of the One Voice Group representing a coalition representing the beer and pub industry, Evans said the cost of such claims would run into the billions of pounds, and was something the insurance industry had not reserved for.
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NewsWorking from home putting pressure on commercial property market
As businesses continue to work from home, some may look to cut overheads such as rent for vacant offices
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NewsBrokers overwhelmingly agree the industry’s reputation has been badly damaged by Covid-19
Some 24% of those surveyed said the industry had been very badly damaged, while 53% said it had been badly damaged.
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NewsHospitality action group to challenge Aviva and QBE on rejected Covid BI claims
Legal firm Mishcon de Reya has reviewed more than 500 business interruption policies submitted by applicants
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NewsPhysiotherapist struck off after fraudulent personal injury claim from 13-year old minor
Further investigations revealed that the physiotherapist had been suspended from the HCPC register following a conviction
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NewsCopart UK uses Covid-19 lockdown to focus on business growth and expansion
The salvage company has invested in around 80 new loader trucks for winter
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IT InterviewMGA Q&A: MGA market could benefit from a simple star rating says DOA Underwriting
DOA Underwriting Limited’s director Phillip Oliver talks to Insurance Times’s Savan Shah about policy wordings, working with broking partners to ensure clients needs are met and the MGA survey’s factors amid the Covid-19 pandemic
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FeaturesCovid-19 is ‘wakeup call’ for industry to embrace digital transformation
As the world moves away from face-to-face interaction in light of the coronavirus pandemic, it’s time for the insurance sector to fully grasp previously ignored technological tools
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NewsSome BI coronavirus claims ‘agreed then withdrawn’ says Night Time Industries Association
One business owner claims he was promised to be covered for up to £100,000
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NewsInsurtech Urban Jungle secures new funding round despite Covid credit crunch
This brings its total funding raised to £6.2m
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NewsAdmiral records 46% increase in bicycle theft over last seven weeks
Insurer Admiral has reported a 46% increase in the number of bicycle theft claims made over the last seven weeks, while Brits have been enduring the nation-wide Covid-19 lockdown, compared to the same period in 2019.
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Online onlyBriefing: Marsh, Aon, Guidewire, reinsurers - how the Covid crisis will greatly benefit them
The likes of Aon, Marsh, Guidewire and Accenture could be on the cusp of a golden opportunity
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NewsInsurers have ‘adequate buffer’ of capital to withstand pandemic shocks says credit rating agency
The agency’s report further highlighted reputational risk as a potential problem
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NewsAviva and Zurich UK among insurers contributing to new industry-wide coronavirus support fund
The fund is supported by members from the ABI, Biba, Lloyd’s and the London Market Group
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NewsCovid-19 heralds hardest of hard markets
Few classes are expected to emerge unscathed as markets harden in the wake of coronavirus
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NewsBrokers should be careful declaring cover for Covid BI claims
Brokerbility’s chairman further notes the ‘unintended consequences of sloppy underwriting’ and ’boilerplate clauses’ contributing to brokers’ headache around navigating rejected BI claims
