infectious-diseases
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
Record £10.5bn of M&A in 2020 and smaller deals on the up, says Imas
There was a record £10.5bn of UK insurance distribution mergers and acquisitions in 2020, according to research by Imas, Post can reveal.
Briefing: BI claims portals a savvy loss adjuster initiative – but policyholders feel they are stuck ironing out kinks
Loss adjusters have created portals to deal with a deluge of business interruption claims, but some under pressure policyholders are struggling to get to grips with their requirements – can the industry do more to help?
Fully Comp: One month on, how much clarity has the Supreme Court BI ruling actually brought?
For the twelfth episode of Post’s video series we gathered a group of experts together to consider the ruling in the Financial Conduct Authority business interruption test case.
Hiscox Action Group warns insurers may seek to ‘read down’ BI ruling
Insurers have responded to draft declarations regarding the Supreme Court’s January business interruption ruling, with the Hiscox Action Group flagging concerns that they may seek to “read down” the judgment.
Ratings agencies see ‘meaningful debate’ between insurers and reinsurers over Covid-19 recoveries
Experts have reiterated that insurer ratings are unlikely to be hit by the outcome of the Supreme Court’s Covid-19 business interruption claims ruling but noted that there will “meaningful debate” over how much insurers can claim from their reinsurers.
Analysis: Calmer waters in yacht market
Post investigates how the yacht market has reacted to the Covid-19 pandemic and Brexit, and asks what comes next after years of market hardening and consolidation.
Insurance affordability and availability issues do not equate to market failure: ABI's James Dalton
The Covid-19 pandemic has not led to market failures in the UK insurance sector, James Dalton, director of general insurance policy at the Association of British Insurers, has said.
Blog: The business interruption imbalance – and the role of advice
Bruce Hepburn, CEO of Mactavish, argues that the business interruption fallout stems from an imbalance, and questions broker accountability over advice.
Disputes over furlough deductions from BI claims continue as adjusters and assessors call for clear guidance
Loss adjusters and assessors have called on the government and regulators to publish clear guidance on how government support received by businesses is to be treated in respect of lockdown-related interruption claims.
Zurich’s Richard Pash says insurers must follow as going green becomes mainstream for consumers
With environmental concerns front and centre for consumers when making their buying decisions Richard Pash, UK chief customer officer for Zurich, argues that the insurance industry needs to understand the issues and deliver relevant, specific and…
LV, Zurich, Hiscox and Davies Group discussed how automation-driven claims could become a greater USP in the battle for consumer hearts, minds and wallets
It has never been more important for insurers to fine tune and promote the claims journey as a unique selling point. So how can intelligent automation be a fantastic tool in building trust in an insurance brand?
Beazley braced for Covid-19 liability claims in 2021 as it reports $50m 2020 loss
Beazley expects to feel the delayed impact of Covid-19-related liability claims later this year, highlighting its directors' and officers' and healthcare books as particular concerns.
Analysis: More uncertainty for BI policyholders over losses beyond first lockdown
Many business interruption policyholders may only be able to claim for losses suffered during last year’s first coronavirus lockdown, with cover for subsequent losses depending on factors such as the wordings of their policies and their renewal date.
Editor's comment: How will the class of 2020 fare?
The traditional school ‘Class of 2020’ had a tough year – my son proudly wears his year six leavers’ hoody but thanks to Covid-19 he never got to sit his SATS or say goodbye to class mates.
Insurers and brokers offer leave and flexible working as school closures strain parents
Insurers and brokers have increased paid leave and introduced more flexible working arrangements to employees under additional pressure from lockdown restrictions, with a particular focus on those now juggling work with childcare responsibilities.
Spotlight: Adas technology - Educating policyholders on the repair process
By 2022 the European Union will make some advanced driver assistance systems mandatory for new cars. Ed Murray asks how the market is preparing for this and how it is keeping up with the current Adas equipped cars in the car park
For the Record: BGL rolls out digital claims, Chubb backs Covid-19 cover, Covea in Vitality tie-up, insurtech funding hits £5.2bn and Tractable deals
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Debenhams and Weddingplan insurer ‘considering’ impact of Supreme Court ruling on wedding claims
The businesses behind Weddingplan and Debenhams wedding insurance are “considering” the impact of the Supreme Court judgment and what it means for policyholders who did not get lockdown payouts for cancelled weddings, Post has learned.
Insurer satisfaction unaffected by Covid-19 despite record policyholder problems, says Institute of Customer Service
The Covid-19 pandemic and subsequent lockdowns have not had a detrimental impact on the insurance sector’s overall customer satisfaction - despite the number of people experiencing problems hitting an historic high, according to the latest report by the…
FCA will use ‘full range’ of regulatory tools and powers to ensure insurers meet expectations after BI ruling
The Financial Conduct Authority has set out the next steps it expects insurers to take after the Supreme Court judgment on the Covid-19 business interruption claims test case last Friday.
Software house witnesses fortyfold increase in BI claims
There was a fortyfold increase in business interruption claims put through software house Acturis in the week of the Supreme Court Covid-19 business interruption judgment, Post can reveal.
For the Record: Aviva rationalises office space, RSA deal gets greenlight, Miller enters HNW and Corant Global is born
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Commission-hungry claims firms target Covid-hit businesses
Claims firms and no-win-no-fee solicitors have ramped up attempts to get businesses to make Covid-related claims with them following the Supreme Court business interruption ruling – but insurance experts are concerned that fees could be as much as 40% of…