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Regulator to require payment deferrals for insurance customers from Monday
The Financial Conduct authority has confirmed temporary measures aimed at helping insurance customers who find themselves in financial difficulty due to the coronavirus pandemic, including requiring payment deferrals.
Covid-19 will cost insurance industry $203bn, says Lloyd's
Lloyd’s of London has forecast that Covid-19 will cost the insurance industry $203bn (£166bn) in underwriting and investment losses, putting the pandemic on a par with century’s most catastrophic hurricane seasons.
Insurance Covid-Cast episode 12: Newsmaker special with Partners& CEO Phil Barton and chair Stuart Reid
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the latest in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Enoizi counsels against using Pool Re to pay for coronavirus BI claims
Using Pool Re’s £6.6bn fund to pay coronavirus business interruption claims would not be the greatest idea, CEO Julian Enoizi told Post as part of an exclusive interview.
Automatic motor premium refunds little more than a ‘marketing initiative’: Ageas CEO Bart De Smet
Providing premium refunds of £20 to £25 to all motor policyholders in the wake of Covid-19 behaviour changes amounts to little more than a “marketing initiative”, Ageas CEO Bart De Smet has said.
Ageas UK pushed into loss as weather bites in Q1
Ageas’ UK operations suffered a £23.5m hit from storms Dennis and Ciara, which drove it into a loss after tax of £2.7m for the first quarter of 2020.
Covéa pulls out of $9bn Partner Re deal
Covéa has scrapped its $9bn (£7.3bn) buy of Bermuda-based global reinsurer Partner Re from the Ferrari-owning Agnelli family’s holding company Exor less than two years after if failed to takeover reinsurer Scor.
Government to introduce trade credit reinsurance scheme amid coronavirus pandemic
The UK government has pledged support for coronavirus-affected businesses which rely on trade credit insurance through a temporary reinsurance agreement.
Insurance Covid-Cast episode 11: Loss adjusting during lockdown - and what the sector might look like post-pandemic
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are working from home, we brought together a group of senior loss adjusters and experts to discuss how their employers have adapted…
Post Claims Club Live: Digital claims management in the age of Coronavirus
Continuing the Post Claims Club Live digital event today we have a video focusing on the future of claims management, the adoption of new technology and ask what customers will demand from the claims process in the future
Post Claims Club Live: Covid-19 and the Future of Claims
Kicking off the Post Claims Club Live digital event today we have a podcast recording featuring experts and industry professionals analysing the impact of Covid-19 on claims operations.
Consolidation and Covid-19 blamed for insurtech investment 'slowdown'
Consolidation and the global coronavirus pandemic have driven a slowdown in insurtech investment in the first quarter of the year, experts have cautioned, with the worst of the Covid-19 impact on funding yet to come.
Allianz CFO outlines potential €1bn plus Covid-19 hit
Allianz could see a €1bn (£882m) or more hit from the coronavirus pandemic across property and casualty, Allianz group chief financial officer Giulio Terzariol has cautioned.
Insurance Covid-Cast episode 10: Newsmaker special with Bought By Many CEO Steven Mendel
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the first in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Pandemic crisis accelerating hard market return, say execs
Pricing momentum towards a hard insurance and reinsurance market will continue with the coronavirus crisis acting as a catalyst for steeper rate increases, industry executives have said.
Blog: How has lockdown affected policyholders requiring alternative accommodation?
Imagine being ‘locked down’ away from your own home; without all your personal belongings and in your ‘safe place’ – your home. Alisa Gold, marketing and business development co-ordinator at ICAB, explains that's the reality for thousands of…
The NED Blog: Covid-19 is not a solvency issue
Being a non-executive director of an insurance business is never boring but it’s fair to say that navigating the way through the current Covid-19 crisis is a completely new challenge and there are critical lessons that can be learnt from past crisis…
This Month: Putting the insurance industry under the microscope
This month we put the insurance industry under the microscope - looking into how much progress the Lloyd's market has made to bolster diversity and inclusion in the sector, the efforts taken to pay out business interruption claims and the industry's…
Event insurance losses mount for Munich Re as it reports £700m Covid-19 hit
Munich Re today reported “high Covid-19 losses totaling €800m (£699.43m), particularly in event insurance” as it posted results for the first quarter of 2020.
RSA reports £25m hit after receiving 25,000 Covid-19 related claims
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
Vulnerable customer numbers double as insurer conduct comes under the spotlight
The number of adults identifying as vulnerable in the home and motor insurance markets has doubled in the last year and insurers have been urged to ensure they are being inclusive as the regulator reviews their actions.
Crawford & Co's Andrew King on why Covid-19 means the role of risk manager has never been more important
The risk manager’s time has come as realisation dawns on how interconnected and vulnerable we all are in light of Covid-19. That is the view of Andrew King, head of Crawford Forensic Accounting Services UK & Ireland, who warns the spectre of large…
Direct Line saw motor claims slide 70% in April
Motor claims notifications fell 70% at insurer Direct Line Group in April compared to the same month in 2019, as drivers stayed indoors due to lockdown measures.
Hiscox predicts BI hit up to £250m
Hiscox has predicted its exposure to business interruption claims from Covid-19 could range from £10m to £250m net of reinsurance.