British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover June 1, 2020 By Huw Jones and Carolyn Cohn Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should...
UK Regulator Seeks Court Review in July to Resolve COVID-19 Insurance Dispute May 8, 2020 By Carolyn Cohn and Kirstin Ridley Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July,...
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...
Two Law Firms Seek British Businesses to Join Biz Interruption Lawsuit Against Allianz May 6, 2020 Two law firms said on Tuesday they were gathering companies in Britain for a potential group lawsuit against German insurer...
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...
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...
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...
Analysis: Insurers Feel Rising Legal Heat for COVID-19 Business Interruption Exclusions April 28, 2020 By Carolyn Cohn, Suzanne Barlyn and Noor Zainab Hussain Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000...
UK Insurers Urged by Treasury Committee to Pay Coronavirus Claims April 27, 2020 By Benjamin Robertson Insurers need to pay out on more claims related to the coronavirus pandemic, according to the head of the UK...
UK Insurers Expected to Pay $1.5B in Coronavirus Claims: Association of British Insurers April 27, 2020 By Sid Verma British insurers are on the hook for more than 1.2 billion pounds ($1.5 billion) in claims from businesses and individuals...