Argenta Underwriting Asia Pte Ltd (AUA) announced that it will cease writing new and renewal business in Singapore with immediate effect. This decision follows a strategic review of the business written through the Singapore coverholder by Lloyd’s managing agency, Argenta …
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, …
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 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 …
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 …
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 …
Top insurers such as AXA, RSA, QBE and Zurich face a potential multi-million-pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been rejected. A new Hospitality Insurance Action Group (HIGA) on …
Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix …
