The hardening market is forcing businesses to look at alternative risk transfer options and an ill-judged response to the pandemic by insurers will significantly hasten that trend
The broker remuneration model is at the heart of the mismatch between the expectations of commercial policyholders and the cover provided by the insurance industry
The decision to resume operations after an extended lockdown period is not straightforward for corporations, especially those with operations that cross borders or even continents
There is a growing divergence between corporates’ risk requirements and the appetite of insurers to cover them. Both sides have important challenges to address
FCA says it hopes to resolve test case by end of July
The Covid-19 market crash wreaked havoc on insurers’ investment portfolios in February and March, but whether the damage is long-lasting remains unclear
An awful lot of interactions in the London market bring little of value – the pandemic could do away with them for good
It has never been more important for the sector to have a clear understanding of what buyers want
Lack of a robust, mandatory testing regime for crew members is a major concern
Insurers fear pirates in the Gulf of Guinea will attempt to board tankers used as offshore storage facilities
Covid-19 will cause claims for several quarters but it is too early to say whether estimates of a $100bn industry loss are accurate
UBS estimates travel losses at $2bn to $3bn
Covid-19 Business Interruption Impacts
Airmic calls on insurers to demonstrate ‘fairness and flexibility’
Latest Covid-19 Updates
Carrier reserves for $325m of business interruption and event cancellation losses in Q1 earnings to cover claims throughout 2020
Group appoints litigation funder and City law firm to represent more than 200 claimants against insurer
Industry figurehead confident a solution to future pandemics can be found by end of 2020
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