BI
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Heathrow Airport closure costs British Airways £40m
The power outage at Heathrow Airport in March, which closed the aviation transport hub for almost a day, cost its…
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UK government warned against increasing premium tax
More than half (54%) of UK businesses said an increase in insurance premium tax (IPT) would make it difficult for…
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Tariff confusion raises supply chain, BI fears for US firms
Tariff uncertainty is fuelling growing concern among US businesses ahead of hurricane season as shifting US trade policy threatens to…
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Spain’s power outage could cost insurers up to €300m: Morningstar DBRS
Insured losses from the power outage in the Iberian Peninsula on Monday (28 April) have been pegged at between €100m…
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BI policies unlikely to respond as Spain and Portugal search for cause of mega blackout
As things begin to get back to normal for companies and households, Spain and Portugal are trying to understand the…
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Brokers and buyers urged to make UK Covid BI claims as time runs out
Fenchurch Law has urged brokers to make sure their UK clients file any outstanding Covid-19 business interruption (BI) claims before…
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Belfor and Funk team up on business continuity management
Belfor and the consulting arm of German broker Funk have announced a strategic partnership to help medium-sized companies improve their…
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Captives seen as vehicles for covering climate-related exposures
As catastrophe losses rise due to increased climate-related events, captives can be used to manage the exposures better, experts say.…
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Regulation tops risk list for transport sector, finds Willis survey
Regulation and business interruption emerged as the top two risks for the global transportation and logistics sector, according to a…
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UK Court of Appeal gives policyholders mixed news in latest Covid-19 BI judgement
The UK Court of Appeal has handed down its latest landmark judgement in long-running Covid-19 business interruption (BI) insurance disputes,…
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Riots ‘rife’ in UK as businesses prepare for more unrest in 2025
More than a quarter (28%) of UK businesses reported interruption or damages from incidents of civil unrest in the country…
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Improvement needed on cyber BI cover and claims, says IUA
There is work to be done to improve the claims experience for both policyholders and insurers when it comes to…
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Losses from storm Éowyn more than €600m across Europe: Guy Carp
Guy Carpenter has estimated wind damage losses to property from storm Éowyn over the weekend at €621m across Europe, with…
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Germany’s BaFin takes ‘close look’ at climate risks
Germany’s financial sector regulator has warned banks and insurers that it will take a closer look at how physical risks…
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LA wildfires set to cost Europe’s top reinsurers 30% of nat cat budget
Insured losses from the ongoing wildfires in Los Angeles could cost Europe’s largest reinsurers more than 30% of their natural…
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LA smoke damage claims may prompt coverage questions
Smoke damage from the Los Angeles wildfires will increase uncertainty about the size of insured losses and may spark coverage…
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Covid-19 BI disputes open at UK Court of Appeal
The UK Court of Appeal has opened the first of two hearings this month in the next instalment of Covid-19…
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Climate change hits record high in Allianz Barometer but cyber risk retains top spot
Cyber, business interruption (BI) and nat cats remain the three most-feared global business risks in the latest Allianz Barometer, but…
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Captives no magic wand for French risk managers
French companies considering setting up captives as an alternative for risks in which insurers have shown little, if any, appetite,…
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Growing demand for cartel insurance in Mexico, says Chaucer
Demand in Mexico for insurance against cartels and other organised crime is rising, according to speciality (re)insurance group Chaucer. It…