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Law firm considers legal action against 12 insurers following BI test case result
Law firm Mishcon de Reya is considering expanding its group action by launching legal proceedings against 12 insurers following the verdict last week on the FCA’s test case – the law firm believes that ‘resilience’ policy wordings used within some non-damage business interruption (BI) clauses should be paying out on ...
COVID crisis sparks captive growth
Captive formation grew by 200% in the first half of 2020, including captives to cover pandemic-related losses - Marsh
Convex Group announces new chief executives in Bermuda and London
International speciality insurer and reinsurer Convex Group has appointed two new chief executives in Bermuda and London, subject to regulatory and immigration approvals, as co-founder Paul Brand steps down from the top spots at Convex Re and Convex Insurance UK.
New funding for Brit’s digital syndicate Ki adds ‘firepower’ to expansion plans
Brit Insurance’s digital follow-only Lloyd’s syndicate Ki has raised $500m from two backers managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings Limited.
Monte Carlo RVS Industry Survey 2020: Riding the cycle - Have your say
This study will survey top decision-makers at the world’s leading international commercial re/insurers and brokers, to examine how global reinsurers are riding the cycle, the likely impact of COVID and other losses, how capital may seek to enter the industry and whether automation has been accelerated by lockdown restrictions.
FCA warns on premium financing in pricing crackdown proposals
Regulator is concerned that customers may not be treated fairly on premium financing and warns providers could be in breach of law
Insurance firms will be forced to end price walking as FCA reveals rip-off remedies
Firms will be forced to offer the same price for insurance products at renewal as they do for new business, the FCA said in its final report on pricing practices released today.
Data subject insurance claims are ‘sting in the tail’ for corporate cyber breach victims
Data subject claims – made by individuals whose data has been compromised following a corporate insured experiencing a data breach – is “effectively becoming the new PPI”, often acting as a “sting in the tail” for organisations attempting to recover after a cyber attack.
D&I plays “crucial role” in business resilience - survey
Mental health, gender equality, flexible working patterns and culture & ethnicity ranked the top issues to address within risk and insurance - Dive In
Third Point Reinsurance Announces Partnership with New Bermuda-based MGA
Third Point Re today announced an investment in Arcadian Risk, a start-up led by John Boylan, a well-known industry executive with a 30-year track record in the global insurance market. Third Point Re will own a minority stake in the newly-formed company.