Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK Supreme Court dismissed appeals by six insurers – Hiscox, …
Small businesses, from restaurants to nightclubs and wedding planners to beauty parlors, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns. Six of the world’s largest commercial …
Independent specialty managing general agent (MGA) Nexus Group announced it completed the acquisition of the Hiscox MGA Marine business (HMM) from Hiscox MGA Ltd. Completed on Dec. 30, 2020 via an asset purchase into Millstream Underwriting Ltd., a Nexus Group …
Praedicat, the Los Angeles-based liability emerging risk modeling firm, has developed an insurance tool for the casualty insurance market, which allows insurers to track exposures, establish reserves, and manage aggregations in the face of this generation’s largest emerging risk, the …
Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain’s markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which …
Major insurance companies told the UK Supreme Court on Monday that thousands of small companies battered by the coronavirus pandemic were not eligible for business interruption payouts and to suggest differently was “reverse engineering.” On the first day of a …
Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to the brink of collapse by the COVID-19 …
Hiscox Ltd., the international specialist insurer, announced the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS, subject to regulatory approval. Reardon succeeds Mike Krefta, who, as announced in August, will be stepping down in early 2021. Most …
A test case brought by Britain’s markets regulator against some of the world’s biggest insurers will jump straight to the Supreme Court after London’s High Court agreed to a fast-track appeal on Friday. Although expedited, the appeal will further delay …
The stakes are higher than ever for businesses when it comes to cyber risk, especially with the added complexity of COVID-19 thrown into the mix. Yet, even before the global pandemic struck, companies had been taking more action than ever …
