More insurers named in British Steel’s dispute over £30m claim as insolvency hits

More insurers named in British Steel’s dispute over £30m claim as insolvency hits

More insurers named in British Steel’s dispute over £30m claim as insolvency hits

Aviva, RSA, AXA XL and AIG have been named as additional insurers, along with Zurich Insurance and Liberty, in dispute with British Steel over a £30m claim for a damaged blast furnace at its Scunthorpe, UK premises, as the firm enters insolvency this week. The company’s representative in the claim, Mactavish, told Commercial Risk Europe the case is the most “catastrophic failure…

British Steel in dispute with insurers over £30m claim

British Steel in dispute with insurers over £30m claim

British Steel in dispute with insurers over £30m claim

British Steel is in dispute with Zurich Insurance and other insurers about a £30m claim for a damaged blast furnace at its UK, Scunthorpe premises, as it enters insolvency this week. The claim follows an incident in June 2017. The company’s representative Mactavish argues that if the claim been settled sooner it could have helped save the stricken firm, which…

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

European countries dominate FM Global’s 2019 Resilience Index, taking nine of the top ten positions, led by Norway as the most resilient business environment. FM Global said the top ten was “reshuffled” for 2019, with Norway up from fourth place in 2018. Demark came second, with Switzerland – last year’s most risk-resilient country – in third. The UK was a…

Mental health support services letting down employees, suggests survey

Mental health support services letting down employees, suggests survey

Mental health support services letting down employees, suggests survey

Almost all UK professionals (98%) link mental health problems with lower productivity at work, according to research by recruitment firm Morgan McKinley for Mental Health Awareness Week. The survey also found three quarters struggling with mental health hold back from accessing support provided by employers. The findings follow a survey of 1,100 UK professionals in banking and financial services, commerce…

Marsh index reports continuing global commercial insurance price increases

Marsh index reports continuing global commercial insurance price increases

Marsh index reports continuing global commercial insurance price increases

Average global commercial insurance prices increased 3% in the first quarter of 2019, according to Marsh’s Global Insurance Market Index. It is the largest increase since the index began in 2012 and the sixth consecutive quarter of rising prices. The index reveals that composite pricing in the first quarter of 2019 increased in all global regions for the second consecutive…

New chair for BIBA when it returns to Manchester next year

New chair for BIBA when it returns to Manchester next year

New chair for BIBA when it returns to Manchester next year

The British Insurance Brokers’ Association (BIBA) has announced that its new chair will be former insurance minister, and current board member, Jonathan Evans. He will replace Lord David Hunt, who ends his six-year tenure in December. The announcement was made on stage at BIBA’s annual conference in Manchester this week. It was also announced that BIBA’s conference will return to…

BIBA’s new head of general insurance on state of market, terrorism and Brexit

BIBA’s new head of general insurance on state of market, terrorism and Brexit

BIBA’s new head of general insurance on state of market, terrorism and Brexit

Last month, the British Insurance Brokers’ Association (BIBA) appointed Alastair Blundell, formerly head of distribution at Tokio Marine Kiln, to the newly created position of head of general insurance. We caught up with him at BIBA’s annual conference to discuss his priorities and some of the other big issues in the marketplace. What will be the big areas of focus…

BIBA defends London and UK cyber market but plans SME guide

BIBA defends London and UK cyber market but plans SME guide

BIBA defends London and UK cyber market but plans SME guide

The British Insurance Brokers’ Association (BIBA) has defended the London and UK cyber market, stating that although there is room for improvement, decent cover is available, particularly for larger firms. However, the association is working on guidance to help its members support SMEs to understand their cyber risk better and improve cyber protection.

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