UK Regulator Wants Courts to Clarify Wording of Disputed Business Interruption Policies May 1, 2020 By Huw Jones and Carolyn Cohn Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim...
Willis Towers Watson Withdraws 2020 Target on COVID-19 Crisis; Q1 Revenues Up 7% May 1, 2020 Willis Towers Watson is withdrawing its 2020 guidance due to the uncertainties caused by the COVID-19 pandemic. The broker said...
Carbon Underwriting to Launch Syndicate-in-a-Box at Lloyd’s May 1, 2020 Managing general underwriter Carbon Underwriting has received in-principle approval from Lloyd’s to launch a syndicate-in-a-box, Syndicate 4747. Carbon will start...
Non-Life Insurance Claims from Pandemic to Surpass 9/11 Claims: Willis Towers Watson May 1, 2020 Insurance broker Willis Towers Watson on Friday estimated general insurance losses between $32 billion and $80 billion across key classes...
Brexit Trade Talks Back on Agenda After COVID-19 Hiatus, Facing Tight Timetable May 1, 2020 By Huw Jones and Sinead Cruise Banks are dusting off their no-deal Brexit plans as concerns deepen that Britain and the European Union won’t agree a...
Allianz Withdraws 2020 Profit Target on Pandemic Uncertainties May 1, 2020 By Stephan Kahl and Richard Weiss Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic....
Lockton Re in London Taps Aon Re’s Mallon, Neon’s Foxall for North America, Int’l Teams April 30, 2020 Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, announced two new appointments in...
Swiss Re Reports Q1 Loss of $225M as Impact of COVID-19 Crisis Begins to Hit April 30, 2020 Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus...
UK Regulator Probes Events Firms for Failure to Pay Refunds During COVID-19 Crisis April 30, 2020 Britain’s competition regulator said it has opened investigations into thousands of complaints about companies refusing to pay refunds for canceled...
Top Insurers Face Lawsuit from UK Hospitality Sector on Rejected Biz Interruption Claims April 30, 2020 By Kirstin Ridley and Carolyn Cohn Top insurers such as AXA, RSA, QBE and Zurich face a potential multi-million-pound lawsuit from British pubs, hotels, restaurants and...