Regulation – Page 47
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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
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News AnalysisInsurance 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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FeaturesBriefing: FCA reveals anxiety over firms’ financial resilience, but is its heart in the right place?
Despite unveiling a ‘stark’ financial picture of Covid-hit brokers and intermediaries, helping firms stay in business does not seem to be the regulator’s number one priority
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NewsMP urges FCA to investigate British Gas over fears home insurance customers won’t receive cover
Due to ongoing strike action by British Gas engineers, around 100,000 customers may not receive adequate home insurance
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NewsFCA is ‘front and centre’ of BI debate due to ‘interventionist approach’ – Weightmans
Friday’s Supreme Court ruling on business interruption policy wordings may also be used by the Financial Ombudsman Service, increasing the potential exposure for insurers
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NewsJeremy Clarkson hits out at insurers after facing £60k premium post-Grenfell
Clarkson admits that although he could afford these insurance premiums for his flat in London, it does not make it right
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NewsUK launches Global Health Insurance Card, but stresses importance of securing travel insurance
The new card will ensure UK residents have access to emergency healthcare when travelling in the EU
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NewsLiP portal delay is ‘rare bit of good news’ say insurers
Regardless of the launch date, there are still likely to be ‘teething problems’ – embedding the new system will therefore be a priority for insurers
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NewsGovernment pushes back LiP portal roll out to May 2021
Lord Chancellor says the delay is ‘a sensible and pragmatic approach’ considering the continued challenges arising from the coronavirus pandemic
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News AnalysisInsurers 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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NewsIrish insurer offers partial premium refunds to some pub owners over BI confusion
However, it is reported that less than 10 pubs will be receiving this support
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NewsTravel insurance sector set to face more upheaval in 2021 warns IPP boss
The uncertainty that has accompanied the Covid-19 pandemic has put the travel industry into a huge amount of debt, and it could get a lot worse
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NewsEcclesiastical recommends preventative measures after gang sentenced for church metal thefts worth £2m
The gang of four men swiped lead from more than 20 churches over a two-year period
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News AnalysisCovid-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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NewsBroker pair form London Re in joint venture
With Brexit underway, the creation of London Re is aimed at directly serving clients in the European Union
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NewsBrokers experience 30% decrease in available liquidity due to Covid-19 pandemic
Around 19,000 firms responded to the FCA’s financial resilience surveys last year, designed to determine the financial impact of the coronavirus pandemic on the financial services sector
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NewsZurich UK offers fully paid emergency leave for parents and carers during latest lockdown
Since March 2020, Zurich has implemented a number of measures for employee wellbeing including the provision of additional free office equipment for safe and effective working from home
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NewsEngagement in the FCA’s BI court process ‘a good thing for the industry’ says Ageas claims boss
The insurer’s claims director believes the insurance sector has taken a ‘collaborative approach’ to dealing with the BI claim fallout arising from the coronavirus pandemic lockdowns
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NewsCriminals cash in on lockdown puppy surge but insurance does not cover ransom
Insurance will not cover a ransom charge for stolen pets
