Regulation – Page 62
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News AnalysisBusiness interruption test case judgement will not be the ‘final word’
Law firm partner says that there will be an ‘inevitable appeal’ following the delivery of the FCA’s test case verdict tomorrow and that early 2021 may be a more realistic timeline for the concluding decision
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News AnalysisFCA test case result will be of ‘crucial significance’ says law firm partner
The verdict, which is to be announced tomorrow, will also ‘provide persuasive authority in a number of common law jurisdictions’
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FeaturesDelegated authority agreements: What are the red flags and long-term fixes?
Delegated authority agreements have become a staple for many insurers. Insurance Times takes a look at the pitfalls to be wary of, the questions insurers should be asking and how to ensure these arrangements are successful
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News AnalysisGender pay gap reporting must be ‘robust’ before moving onto ethnicity
During a webinar yesterday, Anthony Horrigan chief executive at Spktral discussed why ethnicity pay gap reporting is more complicated than gender and why the insurance industry still has a long way to go
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NewsCarrot Insurance urges government to incentivise young drivers’ telematics usage by removing IPT
Responding to the House of Commons’ Transport Select Committee’s inquiry into the reasons why young drivers are at a higher risk of being involved in road traffic collisions, the black box insurer believes all 17 to 22-year-olds should have a telematics policy for a year after they pass their driving ...
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NewsBennetts Motorcycling Services joins the Ardonagh Group
The Competition and Markets Authority launched an investigation in July on Ardonagh’s acquisition of Bennetts - this formed part of the purchase process
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AnalysisThe Rooney Rule: Could it improve the recruitment and retention of ethnic minorities in insurance?
After one Lloyd’s syndicate might be adopting such a strategy, Insurance Times examines whether the Rooney Rule might solve the ongoing recruitment and retention issues of black, Asian and minority ethnics in the insurance industry
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NewsIUA open letter calls for right to cancel professional indemnity cover for solicitors
The IUA is concerned that professional indemnity insurance could become “unsustainable” if underwriters cannot cancel policies if premiums go unpaid
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NewsTreasury initiates next five-year review of Pool Re
A new Review Advisory Group, composed of chief executives from member insurers as well as other stakeholders, will oversee the project
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NewsFlood Re chief exec outlines next steps for addressing climate change risk
The flood re-insurer presented evidence to Parliament’s Environment, Food, and Rural Affairs (EFRA) Select Committee yesterday addressing the evolving risk of climate change threatening its exit
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News AnalysisInsurance industry left to shoulder risk in Grenfell fire aftermath
How can you put a price on Grenfell? The insurance industry has been left to shoulder the risk of safety measures that resulted from the inquiry, despite building safety and standards further deteriorating for high-rise buildings.
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NewsMactavish recommends Written Lines Tenders for construction firms struggling to get PI cover
Covid-19 has amplified the existing problems in the construction professional indemnity market such as rising premiums, Mactavish offers a solution
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NewsFCA investigates 165 Covid-19 scams
Financial services firms and banks have been targeted by fraudsters during the coronavirus pandemic
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NewsUK travel insurer to cover FCO watchlist European destinations
The FCO has advised against all non-essential travel to certain destinations as the pandemic continues, however some travel insurers are now offering cover for this
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NewsZego partners with European e-scooter operator
As the UK government continues its trial of e-scooters, Zego has a new European partner whose focus is e-scooter safety
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IT InterviewMotor Insurers’ Bureau sees Covid-19 accelerate its culture programme
The MIB has been overhauling its culture change programme since 2018, however lockdown hit as it was due to release its new values forcing the firm to take a more creative approach with staff working remotely
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FeaturesCyber Focus: Data exfiltration boosts ransomware risks with reputational threats
Brokers need to adopt a proactive role in assessing commercial clients’ digital security as cyber insurance morphs into a hybrid of preventative risk management services and responsive claims investigation to tackle evolving cyber threats
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IT InterviewTrackMyRisks’ Matt Hodges-Long on solving the buildings insurance crisis
The insurtech’s chief executive tells Insurance Times that he aims to make the Building Safety Register an official organisation at a time when leaseholders are facing extortionate insurance premiums in the aftermath of the Grenfell tragedy
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NewsHiscox Action Group celebrates legal agreement for single arbitration process
Three arbitrators will review four categories of policy around Covid-19 related business interruption claims
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IT InterviewFCA’s test case has overshadowed insurers’ efforts during Covid-19 pandemic says ABI
The trade association’s director general accepts ‘that reputationally this has been a very difficult few months for the industry’ in light of the FCA’s test case against insurers around the clarity of business interruption policy wordings
