UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance May 13, 2020 By L.S. Howard The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit...
Hiscox Raises £375M to Respond to U.S. Wholesale, Reinsurance Growth Opportunities May 6, 2020 By L.S. Howard Lloyd’s insurer Hiscox has successfully raised capital of approximately £375 million (US$465 million) as a result of an equity placement...
Hiscox to Raise Capital in Response to COVID-19 Growth Opportunities and Exposures May 5, 2020 By L.S. Howard Lloyd’s insurer Hiscox is planning a capital raise via the placement of new ordinary shares, which will enable the company...
Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties May 4, 2020 By L.S. Howard Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the...
Hiscox Action Group Gears Up to Take Hiscox to Court over COVID-19 BI Exclusions April 29, 2020 By L.S. Howard Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox’s pandemic exclusions to its commercial business...
Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties April 27, 2020 By L.S. Howard Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the...
Suddenly There Is Big Demand for Pandemic Cover, Says Underwriter April 14, 2020 By L.S. Howard In the midst of this pandemic, insurance buyers and their brokers are looking for COVID-19 pandemic coverage, which is like...
Wimbledon Shows How Pandemic Insurance Could Become Vital for Sports, Other Events April 13, 2020 By L.S. Howard The Wimbledon tennis tournament had the foresight to buy around £1.5 million (US$1.9 million) per year in pandemic insurance following...
Failure to Act on Climate Change Could Make Weather Risks Uninsurable: Swiss Re April 8, 2020 By L.S. Howard Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty...
Canadian Insurers Hit with Lawsuit on Refusal to Pay COVID-19 Biz Income Claims April 6, 2020 By L.S. Howard A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to...