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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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News Analysis
Supreme Court BI ruling acts as ‘rude awakening’ for insurers
The ruling following the test case appeal at the Supreme Court will see insurers pay claims to businesses, as well as review policy wordings - but how have insurers reacted to the decision?
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News Analysis
Supreme 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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News Analysis
Insurance industry weighs in on post-Brexit Global Health Insurance Card
Following the government officially launching the new GHIC earlier this week as a result of the UK reaching a trade deal with the European Union, how does the insurance industry feel about its impact on cover? Insurance Times finds out
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News Analysis
Insurers must ‘adjust reserves accordingly’ as PI ruling will ‘significantly add’ to claims costs
The Swift v Carpenter ruling set the bar for accommodation costs in personal injury cases involving a long life expectancy and low interest rates, but what is the financial domino effect on insurers? Insurance Times takes a closer look
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News Analysis
Covid-19 pandemic sees more insurers exit financial failure insurance
As of January 2021, policyholders will not be able to renew financial failure insurance to comply with Package Travel Regulations, meaning they cannot trade. Insurance Times explores options for these customers and what brokers can do to help
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News Analysis
ComparetheMarket fine exposes perils of ‘most favoured nation’ clauses
’Most favoured nation’ clauses have existed longer than there have been PCWs, but ComparetheMarket’s recent fine shows how they can undermine the market
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News Analysis
Brokers demand ‘much better service’ from insurers amid tightened lockdown regime
Against a backdrop of stricter lockdown restrictions, brokers tell Insurance Times that they are unimpressed with insurer service as some have ’attempted to shirk their responsibility’
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News Analysis
Revealed: Insurance Times Awards 2020 – winners and reaction
Insurance Times was back again yesterday for the last of its virtual awards ceremonies of 2020 as it celebrated innovation and excellence across general insurance, did you make the cut?
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News Analysis
Blueprint Two is Lloyd’s ‘rubber hits the road moment’ – John Neal
With the onset of the Covid-19 pandemic sharpening Lloyd’s of London’s focus on its Blueprints, Insurance Times takes a deeper dive into what’s behind Blueprint Two
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News Analysis
Culture change towards vulnerable customers is here to stay
Insurance Times explores the FCA’s most recent guidance for how insurance firms should treat customers in light of the Covid-19 pandemic and how this can impact vulnerable customers specifically
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News Analysis
Insurers and brokers braced for fallout as another latent defects insurer collapses
In the aftermath of the Grenfell Tower fire, cladding has been a hot topic, with more and more latent defects insurers falling into administration after struggling to pay claims, Insurance Times investigates the wider impact on insurers and brokers
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News Analysis
FCA labels insurers’ arguments as ‘far-fetched’ in Supreme Court hearing
However, insurers claim that there ‘is no justification for engineering contractual wording to accommodate unique circumstances which have occurred subsequently’
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News Analysis
Premiums soar for independent financial advisors’ PI as insurers dwindle
As the UK approaches a pandemic induced recession, advice firms are facing higher premiums as insurers that provide professional indemnity for advisors have significantly reduced after a series of regulatory changes, constraints and historical blunders. Insurance Times investigates what this means for insurers and IFAs – and whether ...
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News Analysis
Brokers react to consortium’s ‘strong bid for an iconic brand’ in potential RSA purchase
UK brokers believe RSA’s potential new owners should build on the insurer’s firm legacy foundations, while others in the industry say external ownership could prove positive
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News Analysis
FOS receives 68,735 new complaints between July and September
Payment protection insurance (PPI) remains the most complained about financial services product with 12,742 new complaints this quarter
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News Analysis
FCA dual pricing ban could be ‘catalyst’ for Amazon to enter insurance
With rumours of Amazon entering the motorcycle and car insurance market, Insurance Times takes a closer look at how it might affect the industry
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News Analysis
Lloyd’s boss acknowledges that insurance sector struggles with ethnicity data
Lloyd’s of London will be looking at how it can improve the collection of ethnicity data
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News Analysis
Inside the burgeoning world of cannabis insurance
Insuring the cannabis market could be a key opportunity for brokers as the entire supply chain needs cover, but this potential goldmine does not come without legal complexities. Insurance Times investigates
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News Analysis
Briefing: A bright future, or momentary relief for the motor market?
The impact of the nationwide lockdown earlier in the year is expected to help the UK motor market return to profit once again in 2021, but with underlying problems still dogging the market, this is only anticipated to offer temporary respite for motor insurers By insight editor Matt Scott ...
