Business interruption
Trump’s tariffs impact on insurance laid bare
The introduction of US president Donald Trump’s tariffs on Wednesday (9 April) will increase the cost of claims, particularly in motor and home insurance, experts have warned.
Lloyd’s predicts potential $2.4trn extreme space weather loss
The latest systemic risk scenario from Lloyd’s and the Cambridge Centre of Risk Studies has revealed that the global economy could be exposed to losses of $2.4trn over five years if a solar storm occurred.
Pool Re reduces taxpayers’ exposure to UK terrorism risk
Pool Re has completed the placement of a new retrocession programme, shifting more of the financial risk arising from acts of terrorism away from taxpayers and back to the private market.
Howden hit with £20m negligence lawsuit
A luxury hotel group has lodged a professional negligence lawsuit against Howden, alleging oversights by the broker meant it found itself unable to claim for Covid-related business interruption losses in 2020.
FCA CEO promises fewer large-scale changes for insurers
Nikhil Rathi, CEO of the Financial Conduct Authority, has promised to reduce unnecessary regulatory burdens and support growth of the insurance sector, with less large-scale rule changes in the next five years.
How insurance helped and hindered the care sector
Almost five years on from the first Covid-19 pandemic lockdown, Scott McGee examines how insurers helped care providers make sense of the barrage of government guidance, why some have pulled back from offering cover, plus what the industry is doing today…
Settlement reached in Covid event cancellation dispute
A $90m (£71.2m) reinsurance dispute involving several Lloyd’s syndicates over losses incurred by Covid-enforced event cancellations in the US and UK during 2020 and 2021 has been settled.
Court’s judgment will have far-reaching corporate insurance ramifications
The Court of Appeal has handed down its latest judgment in relation to Covid-related business interruption insurance claims, with some of its findings likely to have significant ramifications for commercial lines insurance more broadly.
Thatcham and Elixirr partner; Lockton’s facility; Cowbell joins ABI
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Diary of an Insurer: Tokio Marine’s Hiroyuki Ishijima
Hiroyuki Ishijima, head of marine hull and energy at Tokio Marine and Nichido Fire Insurance Co, examines ways to support Japan’s transition towards greener energy, contemplates maritime autonomous surface ships, and engages in American football chat.
Responding to the magnitude of losses from Storm Éowyn
Cathy Scott, head of Northern Ireland at Crawford & Company, outlines how the loss adjuster is responding to a storm that the Met Office identified as one of the strongest to hit the UK in the past decade.
ABI and Flood Re urge long-term flood defence investment
The Association of British Insurers and Flood Re have both called on the government to commit £1bn of investment every year for flood defences after the industry made record payouts for weather-related claims in 2024.
Markel’s Guidewire implementation; Hiscox’s FI offering; Lockton’s CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Why getting business interruption cover right is more critical than ever
View from the Top: Laura Vickers, managing director of commercial lines at Gallagher in Ireland, explains what brokers need to do to ensure clients are protected with what is increasingly business-critical cover.
Big Interview: ASL International’s Helen Meredith
Helen Meredith, managing director of ASL International, shares why she isn’t afraid of the ticking demographic time bomb scaring most loss adjusting firms and how the financial lines specialists intend to increase the amount of cyber and political risk…
More claims expected from Storm Éowyn after 800% initial spike
Storm Éowyn caused an eightfold increase in claims notifications within an hour of hitting Northern Ireland last week, loss adjuster Crawford has reported.
NFU Mutual sticks to its guns in coverage dispute
NFU Mutual has maintained that 38 businesses suing the insurer for Covid-era losses are not entitled to be indemnified under the terms of an extension to their policies.
Court kicks off fortnight of Covid BI hearings
Two key appeals relating to Covid-era business interruption disputes are set to be heard by the Court of Appeal in the coming weeks, with the first of two hearings beginning today (21 January).
Franco Manca pizzeria owners deliver lawsuit to insurer
The owner of the Franco Manca chain of pizzerias is suing QIC Europe for a payout for losses it suffered due to Covid-19 restrictions in 2020.
Restaurant group agrees £2.5m settlement with insurer
The operator of the Wildwood chain of restaurants has announced it has agreed a £2.5m settlement with its insurer relating to a pandemic-era claim.
Ecclesiastical’s Carter documents rise of leisure business
Laura Carter, customer segment director of Ecclesiastical, has described how the insurer's leisure business has grown to account for 20% of its open market new business in just 18 months.