Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19 October 12, 2020 Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in...
Insurers Gain Early Wins in COVID-19 Business Interruption Lawsuits October 5, 2020 By Jim Sams Insurers have succeeded in dismissing COVID-19 business-interruption lawsuits in 17 out of 23 cases heard so far, with a growing...
UK Business Interruption Test Case to Get Fast-Track Appeal at Supreme Court October 5, 2020 By Kirstin Ridley and Carolyn Cohn A test case brought by Britain’s markets regulator against some of the world’s biggest insurers will jump straight to the...
Judges Nix Consolidating COVID Business Interruption Suits Against Big Insurers October 4, 2020 By Andrew G. Simpson A panel of federal judges has decided against consolidation of hundreds of lawsuits seeking coverage for coronavirus-related business interruption claims...
UK COVID-19 Insurance Dispute Could Be Heading to Supreme Court as Talks Falter October 1, 2020 By Kirstin Ridley and Carolyn Cohn Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to...
COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks September 30, 2020 By L.S. Howard Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing...
Update: UK Regulator Files Expedited Appeal in Business Interruption Test Case September 29, 2020 By Huw Jones and Carolyn Cohn Britain’s financial regulator said on Tuesday it had filed for an expedited appeal in a business interruption test case against...
Lloyd’s CEO Neal Sees Appeal of COVID Business Insurance Ruling Coming September 25, 2020 By Carolyn Cohn Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to...
Independent Brokers Will Remain Competitive by Adding Value to the Value Chain September 23, 2020 By L.S. Howard The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser,...
FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims September 21, 2020 In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority...