Commercial
For the Record: The week in deals featuring Allianz, Clyde & Co, Convex, Gallagher, Howden, Kennedys, LV, New Dawn Risk and Woodgate & Clark
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Live: Supreme Court rules largely in favour of policyholders in FCA's BI test case battle
Free content: Access market and insurance reactions to the Supreme Court ruling that dismissed appeals against a High Court judgment on insurers paying out in Covid-related disruption on business interruption insurance policies and overturned the Orient…
BI Case Notes: The FCA’s test case in numbers
Updated: On Friday 15 January the Supreme Court will return a verdict on appeals in the Financial Conduct Authority’s business interruption test case.
Supreme Court BI ruling looms
The Supreme Court will issue its ruling today in the Covid-19 business interruption legal case with up to 370,000 policyholders and their insurers awaiting the outcome.
Chaucer promotes Deborah Wyatt to head of political risk and credit
Chaucer has promoted Deborah Wyatt to head of political risk and credit to replace current head Nick Kilhams who is retiring after 22 years with the company.
Briefing: Seven insurtechs to watch in 2021
For a sixth year running, Post content director Jonathan Swift scans the insurtech space and identifies up-and-coming businesses potentially worth watching over the next 12 months.
Axa XL names Pamela Rosado general counsel
Pamela Rosado has been appointed general counsel for Axa XL.
ABI refutes suggestions insurers may be ‘profiteering’ in wake of cladding scandal
Following criticism from television personality Jeremy Clarkson and minister Lord Stephen Greenhalgh, the Association of British Insurers told Post it refutes suggestions its members may be “profiteering” from the cladding and fire safety scandal.
Property developer rejects Axa counterclaim in fire damage case
Property investor Aubrey Weis and his company Elcombe have denied Axa’s counterclaim and the issues set out in the provider’s defence document in the ongoing legal dispute over a £1.7m claim.
Blog: Should we return to a standard BI policy wording?
The Covid-19 pandemic has highlighted a split between what policyholders expect from business interruption cover and what insurers say it offers. Damian Glynn, Sedgwick International UK head of financial risks, asks whether customers are ensnared in a…
Q&A: Wendy Wilder and Suzanne Scatliffe, Insurance Industry Charitable Foundation
Wendy Wilder, Insurance Industry Charitable Foundation UK head, and Suzanne Scatliffe, Insurance Industry Charitable Foundation chair of the board of directors and Axa XL director of corporate social responsibility, spoke to Post about purpose-driven…
Bollington buy a ‘super fit’, says Gallagher boss Michael Rea
Michael Rea, CEO of Gallagher’s UK retail division, has hailed the takeover of Bollington as supercharging the firm’s presence in the North West and adding specialisms to the group.
Supreme Court to hand down BI verdict on Friday
The Supreme Court is expected to hand down its judgment in the business interruption test case appeal on Friday 15 January, the Financial Conduct Authority has confirmed.
Loss making SSP reveals financial struggles ahead of sale
SSP made an after tax loss of £115m in the 18 months to 30 September 2019 and breached its banking covenants in March 2020, the business has revealed ahead of its takeover by Canadian firm Constellation Software.
QBE’s Jon Dye on managing emerging risks in 2021
From trade tariffs on parts and whiplash reform, through to fraud, automatic lane keeping technology and connected vehicles, there is plenty for insurers to keep an eye on this year, says Jon Dye, director of motor at QBE.
Former RAC employee sentenced after selling personal data to CMC
Former RAC employee Kim Doyle has been sentenced to eight months imprisonment, suspended for two years, in a prosecution brought by the Information Commissioner’s Office for selling unlawfully obtained personal data to a claims management company.
SSP users hopeful of investment as takeover nears completion
Users have expressed hope that SSP’s expected takeover by Canadian-listed Constellation Software will lead to investment in the technology company as it exits private equity ownership.
Intelligence: Gaming the new frontier
The insurance needs of the gaming sector are complicated and ever evolving but there are plenty of opportunities for those prepared to immerse themselves in this flourishing market.
Storm Bella claims volume ‘significant’ say loss adjusters
Late 2020’s storm Bella has driven a “significant” number of claims, loss adjusters told Post, though damage was not witnessed on the scale of storms Ciara and Dennis.
For the record: The week in deals featuring Aston Lark, GRP, PIB, Marsh, MS Amlin, Nexus, Partners& and Sedgwick
Post wraps up the major insurance deals, launches, investments and strategic moves of the week
Former Lib Dem leader brands insurer Covid BI claims handling 'deeply depressing'
Former Liberal Democrat leader Tim Farron has called the conduct of insurers during the coronavirus pandemic “deeply depressing” and urged the Chancellor of the Exchequer to “take steps to protect insurance customers from the actions of insurers”.
Iprism swings back to profit in 2020
Iprism Underwriting Agency has returned to profit in 2020 with a bottom line result of £435,365 reversing its £761,988 loss the year before when it was hit by restructuring costs.
Lockdown: Many insurer and broker offices to remain open as Lloyd's underwriting room closes
Insurers and brokers have told Post that the majority of their staff will continue to work from home and that offices will remain open to those few that need to access them, following the start of a third national lockdown in England.
Cécile Fresneau adds syndicate active underwriter role at QBE as David Harries retires
David Harries, active underwriter of QBE Syndicate 386 and head of financial lines will be stepping down and handing over to UK insurance executive director Cécile Fresneau, the provider has confirmed.