BI
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Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh
Global insurance prices rose 20% in Q3, with increases of 34% in the UK and 15% in continental Europe, according…
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RSA decision not to appeal Marsh Resilience wording a ‘significant’ win for buyers
RSA’s decision not to appeal the Marsh Resilience (RSA4) wording ruling in the Financial Conduct Authority’s (FCA) Covid-19 business interruption…
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Hurricane Zeta losses up to $5bn
RMS estimates that onshore US insured losses from Hurricane Zeta could reach $5bn, the highest figure put forward by any…
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FCA and insurers granted appeals in BI test case
The UK’s Supreme Court has granted all applications for appeal in the Financial Conduct Authority’s (FCA) Covid-19 business interruption (BI)…
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AIR estimates up to $3.5bn US losses from Hurricane Zeta
Onshore US insured losses from Hurricane Zeta will cost between $1.5bn and $3.5bn, according to estimates from AIR Worldwide. The…
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Onshore Hurricane Zeta losses close to $4.4bn, says KCC
Onshore insured losses from Hurricane Zeta will be close to $4.4bn, with $4.3bn of wind and storm surge claims falling…
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Mahnke urges government to step up efforts on credit and pandemic schemes
The German risk and insurance management association GVNW has repeated its recent call for federal government and the German insurance…
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Geneva report says insurers would need 150 years of premium to cover Covid-19 BI losses
A new report by The Geneva Association concludes that there is “nowhere near” enough capacity in the P&C insurance industry…
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BI litigation fallout to restrict cover further
Covid-19 has sparked a wave of insurance coverage litigation that is set to lead to further restrictions on business interruption…
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FCA still in discussion with insurers over BI payouts
UK regulator the Financial Conduct Authority (FCA) has said talks are still active with a group of insurers to resolve…
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Ferma president urges insurers to improve pandemic response
Insurers need to be more proactive in their response to the coronavirus pandemic and work with governments on solutions for…
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Brokers could be in firing line over pandemic BI claims
Lawyers and specialist insurers have said insurance brokers may be sued if their clients’ business interruption claims, related to Covid-19,…
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Modellers say Hurricane Delta loss could reach $3bn
AIR estimates insured losses from Hurricane Delta will be between $1bn and $3bn, with Karen Clark & Company (KCC) putting…
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AXA XL makes appointments to new regional units
AXA XL Insurance has announced new appointments for its business divisions following the recent launch of its regional operating model,…
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Covid-19 reshapes future risk landscape, says AGCS report
Covid-19 has radically altered long-term risk trends, with new exposures emerging from the pandemic, according to a report published by…
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German beer hall policyholder wins BI Covid-19 case
A Munich court has ruled in favour of a German beer hall over Covid-19 business interruption (BI) insurance losses caused…
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Le Maire says insurers will be forced to participate in French pandemic scheme
France’s minister for the economy and finance Bruno Le Maire said this week that France will need to pass a…
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Seven insurers set to appeal FCA BI ruling as agreement not reached
Discussions between insurers and UK regulator the Financial Conduct Authority (FCA) on behalf of business interruption (BI) policyholders have failed…
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Complex ‘off-the-peg’ policies failing buyers, says Mactavish
Commercial insurance products are too standardised for today’s buyers and risks, while policy wordings are overcomplicated and often contradictory, according…
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FCA and insurers file precautionary ‘leapfrog’ BI appeals but ‘positive’ discussions continue
The FCA and seven insurers have filed precautionary ‘leapfrog’ applications to appeal to the UK’s Supreme Court on the recent…