Regulation – Page 61
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NewsFCA taking 'the nuclear option' in pricing remedies
The regulator has gone further than it has in previous interventions, argues former FCA figure
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Online onlyBriefing: The winners and losers from the FCA’s pricing ban
FCA price walking ban impact on customer, insurers, brokers and aggregators
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NewsInsurance firms will be forced to end price walking as FCA reveals rip-off remedies
Firms have until January to feedback on the FCA’s final proposals for ending ‘opaque’ pricing practices
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NewsData subject insurance claims are ‘sting in the tail’ for corporate cyber breach victims
Law firm partner describes data subject claims as ‘effectively becoming the new PPI’ as practice reports activity uptick
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NewsLaw firm considers legal action against 12 insurers following BI test case result
Mishcon de Reya believes insurers such as Aviva and Chubb should be paying out for Covid-related business interruption claims that fall under ‘resilience’ policy wordings
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NewsRegulator’s ‘culture shift’ forces firms to place greater emphasis on vulnerable customers
Law firm partner addresses MGA online delegates to discuss the FCA’s switch in stance around ‘value’ and ‘outcomes’
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NewsSoaring insurance premiums see leaseholders in high-rise buildings held ‘captive’
Leaseholders do not have control over insurance price hikes for high-rise buildings - in some instances, this has increased from £12,000 to £180,000
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News AnalysisPolicyholders need to home in on balance sheets to take advantage of test case verdict
Although claims preparations can now go ‘full steam ahead’ following the publication of the High Court’s ruling, projected profits and losses must be considered for quantum purposes
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News AnalysisFCA called out as ‘shining example of regulatory intervention’ for test case action
Despite being celebrated as a policyholder victory, many legal professionals feel this reaction to the test case verdict could be ‘premature’ as the likelihood of an appeal from insurers still looms large
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News AnalysisBI test case decision is ‘conclusive judgment in favour of policyholders’
Industry expert says the verdict is ‘no surprise’, however the industry is ‘nowhere near the finishing line’ as insurers now need to reassess their business interruption policy wordings
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Online onlyBriefing: Customers will face more agony despite test case ruling
The FCA ruling will only help some clients and, even then, there will be arguments over payouts. The FCA ruling closes one chapter on this unedifying experience for the insurance industry. There are lessons to be learned.
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NewsLloyd’s of London backs FCA BI test case ruling
Following the ruling from the High Court on the FCA business interruption test case, Lloyd’s and LIIBA explain their stances
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NewsFCA test case is a ‘complex judgment’ that will take time to understand
Following the High Court ruling yesterday on the FCA’s business interruption test case, Insurance Times looks at the potential impact on insurers
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NewsCMA ‘concerned’ that Ardonagh’s purchase of Bennetts will lead to ‘worse deal’ for customers
The firms now have five days to respond to the CMA’s initial findings; if its key issues are not addressed, then an in-depth phase two investigation will be required
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News AnalysisTest case judgment could be ‘the difference between life and death’ for Covid closed businesses
Brokers rejoice as High Court ruling provides clarity for customers’ business interruption claims caused by Covid-19 pandemic
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NewsCII urges industry to develop an approach to pandemics to avoid further test case scenarios
The professional body says that building trust across the industry is a ‘key concern’
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News AnalysisHigh Court rules in favour of FCA for majority of Covid-related BI wording interpretations
As the High Court ruling was revealed this morning, Insurance Times finds out what some of the industry thinks about the verdict
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People & OpinionBlog: The BI test case should prompt insurers to interrupt themselves – 360Globalnet
Paul Stanley, 360Globalnet’s chief executive weighs in on business interruption ahead of the FCA test case verdict this morning, this is one of a series of blogs from the insurtech
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News AnalysisInsurance industry relays recommendations as pre-legislative draft Building Safety Bill scrutinised
As the draft Building Safety Bill (BSB) 2020 was scrutinised yesterday afternoon in Parliament, the insurance industry gave its recommendations and raised its concerns about the pre-legislation.
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NewsInsurance industry must find ‘right’ capital management strategy to navigate losses
During a press briefing, Guy Carpenter discussed why it is ‘critical’ that the insurance industry has the right solution in place to navigate losses, especially against the backdrop of the pandemic
