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, …
See a need and then fill it. That’s the secret of most successful businesses—and that was the driving motivator of insurtech Thimble, which is currently working on coverage for small business customers during business interruptions. Jay Bregman, co-founder of the …
British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19 pandemic and also faces “brand damage” from a legal dispute over policy wordings for pandemic-linked claims. Hiscox shares plunged 13% …
DUBLIN – Ireland’s High Court ruled on Friday that four publicans insured by FBD were entitled to be indemnified for losses under lockdown-linked claims, in a test case that could have implications for over 1,000 similar contracts. Irish pubs have …
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, …
A UK Supreme Court insurance judgment substantially in favor of policyholders will be a “massive boost” for British businesses currently suffering from a third government lockdown, the Hiscox Action Group policyholder group said on Friday. The court ruled earlier that …
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 …
The UK Supreme Court will on Friday hand down a judgment in a test case pitting the country’s markets regulator against insurers over how business interruption policies were dealt with during the coronavirus pandemic, it said on Tuesday. The result …
LONDON – There will be no judgment in an appeal over business interruption insurance this year, Britain’s markets watchdog said on Tuesday, dashing hopes of an early outcome in a case that could affect billions of pounds in claims. Britain’s …
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 …
