Regulation – Page 60
-
News AnalysisCoronavirus: B&B owner faces ‘timebomb of debt’ after BI claim rejected by AXA
The results from the FCA’s test case could come too late to save struggling SMEs that are facing daily financial hardship as a result of the Covid-19 pandemic. Insurance Times hears from Stamford House Bed and Breakfast about its claims experience and fears for the future
-
NewsFCA rejects insurers’ defences for ‘adopting unduly restrictive meanings’
The regulator states that insurers failed to take into account that policyholders were, in the main, unsophisticated purchasers of insurance
-
News‘Industry has a responsibility to respond’ if customers want digitised claims journey says Minster Law
’Covid-19 has released the virtual claims management genie from the bottle and there will be no going back’, says the law firm’s claims director
-
News AnalysisLocal Leicester lockdown could prove ‘difficult for insurers’ defending rejected BI claims
Business interruption policies triggered by Covid cases at the insured premises, or within a defined radius, may come under closer scrutiny as city-centric lockdown confirms the local impact of the pandemic
-
News AnalysisBriefing: The sorry (but unsurprising) tale of Gefion’s collapse
Solvency and liquidity issues have dogged the unrated Danish insurer for years, but brokers will be hoping that early regulatory intervention will have saved them a lot of pain as the insurer’s collapse continues to unfold
-
NewsBiba endorses move to legalise rental e-scooters on British roads
Biba has endorsed the Department of Transport’s (DfT) move to legalise rental e-scooters on Britain’s roads this Saturday 4 July. Insurance will be required for all rental e-scooters taking part in the trial and this will be provided by the operator. But privately owned e-scooters remain illegal on the roads ...
-
NewsZurich reveals 2020 ethnicity pay gap figures
The insurer said that there is more to be done and has called on the government to provide the right tools to tackle racial inequality in the workplace
-
NewsHowden predicts post-pandemic ‘capacity crunch’ for M&A insurance market in 2021
The economic fall out from the coronavirus pandemic will likely see a ‘significant capacity crunch’ that is expected to hit the M&A insurance market in 2021, according to Howden. Read more…
-
NewsBritish theatre at risk due to ‘inadequate insurance cover’
But refund protection insurance is experiencing an uptick in popularity
-
NewsMGAA hires new managing director as Staddon steps down
As Peter Staddon is set to retire in August this year, a new managing director has been appointed, Staddon will continue to work on a part time basis until his successor begins
-
NewsHospitality action group awarded right to intervene in FCA test case
HIGA, the group action body fighting rejected BI claims from insurers Aviva and QBE, has been granted permission to intervene in the FCA’s test case.
-
NewsInsurers submit defences for FCA test case ahead of July hearing
Insurance Times dips into the defence documents of the eight insurers facing the FCA’s court hearing…
-
NewsNDML releases handbook for hospitality and leisure industry reopening
The guidebook details advice on risk management such as how employers should approach staff that have lost a loved one
-
Online onlyCompetition watchdog probes brokers over Ardonagh buy
The Competition and Markets Authority is asking brokers a range of questions over an Ardonagh broker buy. Ardonagh is the largest player in UK personal likes broking, rising up the rankings again of our Top 50 brokers following a series of acquisitions led by chief executive David Ross. The competition ...
-
NewsHiscox Action Group seeks to intervene in FCA’s test case on BI policy wordings
The Hiscox Action Group has instructed its lawyers to intervene with the FCA’s BI case test, as insurer Hiscox refuses to move forward on any other legal action until the conclusion of the FCA’s hearing.
-
IT InterviewOpportunity to boost terror insurance penetration seen amid lockdown
The socio-economic pressure on UK society could lead to a spate of terrorist attacks post-pandemic but there are measures that brokers can take to drive the penetration of terror cover up for SMEs and help ensure they can recover should the worst happen according to Geo Underwriting
-
NewsRevealed: Top BAME insurance leaders and role models 2020
Some BAME insurance leaders from Aon, Aviva and Brokerbility have made it on to the list again this year
-
News AnalysisShort-term rentals and Airbnb insurers impacted by Covid-19 lockdown
With lockdown easing, the sharing economy may be able to recoup some losses, but at the same time new risks and property exclusions have emerged
-
NewsFormer RSA Ireland chief financial officer disqualified and fined €70,000 for under-reserving breach
The regulator’s investigation found that the senior leader had been involved in the insurer understating its claim reserve estimates by €29m
-
NewsWhite confirms Pukka to hand in Gibraltar licence at end of July
The move was designed to ‘rationalise the cost base’ of the business
