MS Amlin News

MS Amlin Acquiring International Transportation Marine Office in Arizona

MS Amlin is acquiring managing general agency International Transportation and Marine Office and its associated subsidiaries. Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals. Terms were not disclosed. The primary subsidiary, International …

Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims

Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the bill, industry sources said. Bars, beauty parlors, …

UK Supreme Court Rules Businesses Should Be Insured for COVID-19 Claims

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 …

Insurers Using Counter-Intuitive Arguments to Escape COVID Liabilities: UK Regulator

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 …

Insurers Tell UK Supreme Court They Cannot Provide Unlimited Cover During Pandemic

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 …

Insurers Drop Appeal Against UK Court Ruling on 3 COVID Business Interruption Policies

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 …

UK Business Interruption Test Case to Get Fast-Track Appeal at Supreme Court

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 …

UK Insurers Cite Swedish Example in Bid to Dodge Coronavirus Biz Income Payouts

Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown. The strategy was raised at the first …

British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover

Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should pay out millions of pounds to companies hit by the coronavirus pandemic, the industry regulator said on Monday. A national …

Cyber Underwriting Firm Envelop Risk Raises $6 Million in Funding

Envelop Risk, the UK cyber underwriting and risk analytics business, announced a Series A investment of approximately $6 million. The funding round was led by artificial intelligence specialist investor Alpha Intelligence Capital (AIC), with additional support from existing investors including …