Latest News – Page 468
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NewsLaw firm launches group action against Hiscox and RSA for rejected Covid-19 BI claims
Specialist insurance law firm Edwin Coe has launched two new group claims against insurers Hiscox and RSA regarding rejected business interruption (BI) claims linked to the ongoing Covid-19 pandemic.
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NewsBeer and pub trade bodies slam ‘collective failure of insurers’ during Covid-19 crisis
Four trade associations pen open letter to the ABI in order to obtain a meeting with insurer bosses
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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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NewsCyber sector challenges present broker opportunities
Current challenges in the cyber insurance market present opportunities for brokers and therefore they have a critical role to play in its growth.
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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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NewsClear Insurance Management makes two new board appointments
Independent broker Clear Insurance Management has made two new additions to its board, appointing Tim Money as its chief financial officer and Nick Gallimore as group operations director, subject to FCA approval.
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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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NewsBrit and Google partner on follow-only digital syndicate Ki
It aims to significantly reduce time and effort for brokers to place follow capacity using technology
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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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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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AnalysisEtrading results: Brokers must ‘make it explicit’ how they want to trade
Simon Bloomfield, head of imarket at Polaris UK, shares his views on how brokers should respond to Insurance Times’s 2020 e-trading survey results
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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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NewsEasyJet hit by major cyber attack affecting 9 million customers
Credit card details of 2,208 people have been stolen
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NewsInsurtech Urban Jungle secures new funding round despite Covid credit crunch
This brings its total funding raised to £6.2m
