QBE Insurance Group
Return to offices halted following government’s work from home guidance
Businesses have put their return to office plans on hold following the latest statement from the government asking people in England to work from home where possible.
ALKS cannot be classified as 'fully automated' warn insurers as driver charged in Uber case
As the driver in a fatal autonomous Uber car crash from 2018 was charged with negligent homicide, the insurance industry has warned more needs to be done before introducing Automated Lane Keeping Systems onto UK roads next year.
QBE group action woos dentists after BI judgment
Mishcon de Reya is encouraging dental businesses to join its action group against QBE following the High Court verdict in the Financial Conduct Authority’s business interruption test case.
Insurer shares climb despite BI payout predictions
Some of the Insurers involved in the Financial Conduct Authority’s business interruption test case saw share prices increase following the verdict, despite participants being told to pay out for some claims.
QBE forecasts $70m net hit after BI ruling
QBE has predicted that it faces a $70m (£54.3m) hit net of reinsurance for business interruption claims in the UK after the court ruling yesterday on the BI test case.
FCA BI test case: Insurers likely to appeal - but at what cost?
Insurers have been urged to consider the “reputational damage they may suffer” before appealing the Financial Conduct Authority's business interruption test case judgment.
BI judgment welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court ruling today in the business interruption test case and those with prevention of access wordings may also find they have cover, law…
Action group courts businesses as Marsh policy predicted to pay out
The Hospitality Insurance Group Action is seeking more members, after a court ruling suggested a policy brokered by Marsh for several insurers is likely to pay out.
Hiscox pegs Covid BI claims at ‘less than £100m’ after judgment
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
Briefing: FCA BI test case result no panacea
On 15 September the judges in the Financial Conduct Authority’s business interruption test case will hand down their judgment. But this will not mark the end of the struggle between insurers and customers.
FCA BI test case judgment expected Tuesday
The judgment in the Financial Conduct Authority’s business interruption test case, in which the regulator is representing policyholders against insurers, is expected Tuesday 15 September.
Briefing: QBE makes the only decision on cutting ties with CEO but where will Pat Regan surface next?
QBE will have had little choice but to part ways with CEO Pat Regan after an external investigation concluded his conduct had been unsatisfactory. But the proof in the inclusion pudding for the industry will be whether he resurfaces. And if so, where…
QBE CEO Pat Regan leaves insurer after investigation
Pat Regan, QBE group CEO, will leave the business following an investigation into “workplace communications.”
Climate protesters expected at Lloyd's today
Climate advocates calling for Lloyd's to “wash its hands of coal and tar sands” are expected to gather outside the Lloyd's building this morning as the underwriting room reopens.
Analysis: Why falling premiums do not mean clear cut savings for motorists
Falling average motor premiums may represent less significant savings for individual consumers than at first glance, experts have cautioned, while a swift return to pre-Covid motor premium levels is "not inevitable."
BI court case judges aiming for draft judgment in mid-September
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
QC accuses FCA of failure to show causal connection between government action and the disturbance to the insured businesses
Insurers argued the Financial Conduct Authority is “unable to demonstrate” any meaningful connection between the action taken by the UK government on a national basis in response to Covid-19 pandemic and the locality of firms’ premises, as the court…
QC calls on court to treat insurers fairly
Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.
Action group brands insurers' focus on lack of specific pandemic cover 'a diversionary tactic'
Insurers’ repeated argument that policies were not intended to cover pandemics has been described as “a diversionary tactic” on the third day of the Financial Conduct Authority’s business interruption test case.
QBE warns of $335m Covid underwriting hit for H1
QBE has predicted it will deliver a $750m (£581.7m) post tax loss when its half year results for 2020 are published next month.
FCA picks apart insurer reliance on Hurricane Katrina judgment in BI test case
On the second day of the Financial Conduct Authority’s business interruption test case, the regulator’s lawyers argued there are key issues with the Hurricane Katrina Orient Express judgment insurers are expected to lean on during the case.
FCA versus insurers as test case showdown begins
It was today confirmed up to 370,000 policyholders may be affected by the Financial Conduct Authority's High Court case, which aims to decide on the validity of business interruption cover during the coronavirus outbreak.
Insurers haul brokers into FCA BI case again
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
Restaurants that changed to takeaways under lockdown not 'same insured business' argues FCA
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers…