Legal
Competitors see opportunities as Aon-WTW delay risks leaving the brokers in 'no man’s land'
Further delays to the Aon-Willis Towers Watson merger caused by the decision by the US Department of Justice to file a civil antitrust lawsuit to block the transaction will lead to opportunities to snap up staff and clients, according to UK brokers.
Analysis: The CMCs out of scope
When the Financial Conduct Authority took over claims management company regulation in 2019, it fired warning shots at the sector. Should the regulator’s remit be widened to cover those firms that don’t come under its surveillance?
Hiscox settles arbitration with business interruption action group
Hiscox has reached a settlement in arbitration proceedings brought against it by an action group of businesses for business interruption losses suffered during last year’s first coronavirus lockdown.
Treasury Select Committee calls for fraudulent ads to be tackled in Online Safety Bill
The Treasury Select Committee has criticised the government for a “missed opportunity” to tackle fraudulent online adverts and prevent customers being scammed by fake financial products.
Insurers wary of 'perverse' CMC behaviour following whiplash reforms
Insurers are concerned that whiplash reforms may result in claims management company “displacement”.
FCA Google Ad spending tops £2m in less than three years
A Freedom of Information request by Post has revealed that the Financial Conduct Authority spent over £240,000 on Google Ad words in the first four months of the year, taking the bill since 2019 over £2.1m.
Analysis: Tackling the Covid-19 business interruption surge
Insurers have paid out final settlements or interim payments on more than 20,000 business interruption claims related to the Supreme Court's January verdict, with Financial Conduct Authority figures and broker testimony suggesting that payout processing…
A-Plan targets £1bn GWP within four years
A-Plan Group is aiming to break the £1bn gross written premium barrier within the next four years, CEO Carl Shuker told Post.
FCA warns Google and social media of legal action over scam adverts
The Financial Conduct Authority has warned social media companies that it will take legal action if they keep publishing scam adverts.
Scor and Covéa ink truce bringing bitter feud to an end
Covéa and Scor have signed a settlement agreement that will see all legal action between the two dropped.
Gefion declared bankrupt
Gefion Insurance has been declared bankrupt by the Maritime and Commercial High Court in Denmark and is no longer paying claims.
Cross-sector working group seeks clarity on mixed injury whiplash portal claims
A cross-sector working group has been set up with mixed injury whiplash test cases set to make their way through the courts.
French regulator sees no evidence of Scor share price abuse
The Authorité Des Marchés Finances has been unable to substantiate price manipulation allegations made by Covéa against Scor.
Trade Voice: Foil's Jennette Newman on the penalties facing firms that misfire on climate transition
As the world begins to really face up to climate change, Jennette Newman, president of the Forum of Insurance Lawyers and partner at Clyde & Co, warns that the regulatory, reputational and legal penalties for failing to transition a climate-friendly…
Analysis: The broker problem with online claims adverts
Research by Post has revealed that brokers as well as insurers are being targeted by claims management companies seeking to take over motor claims via misleading advert urls online, particularly on mobile devices
High Court gives go ahead to RSA takeover
The High Court of Justice in England and Wales has approved the takeover scheme that will lead to Intact and Tryg buying RSA.
Allianz launches recycled parts digital platform; Howden acquires Medical Professional Risk Solutions; and Zurich UK doubles apprenticeship places
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Biba 2021: FCA’s Matt Brewis says BI claims payments could have been made quicker post-judgment
While acknowledging the complexity around Covid-19 business interruption claims, an FCA representative has said he believes payments could have been made quicker following the January test case judgment.
Gallagher to pay $3.57bn for WTW assets including Willis Re
Aon and Willis Towers Watson have agreed to sell Willis Re and a portfolio of WTW assets to Gallagher for $3.57bn (£2.52bn) to help smooth their merger deal.
Biba Conference Special: Q&A with Steve White
Ahead of the British Insurance Brokers’ Association hosting its annual conference online for the first time ever, Post caught up with CEO Steve White to discuss what virtual attendees will see and hear about, the trade body’s ongoing lobbying and his…
Marshmallow denies trade secrets theft and refutes Confused data rating engine claim
In an ongoing legal battle Marshmallow has hit back in its defence document against Mulsanne, denying that it used Mulsanne’s “confidential information” to build its underwriter’s ratings engine and rebuffing suggestions that its underwriting system was…
FCA urged to speed up broker authorisations with approvals taking 121 days
A freedom of information request by Post to the Financial Conduct Authority has revealed the watchdog is taking an average of 129 days to make a decision on authorising firms applying for permission to trade as general insurance brokers selling non…
British Insurance Awards 2021: Shortlist Revealed
Who will be walking the red carpet on 15 September as a contender at the 27th British Insurance Awards?
LPG slams HDI claim as 'abuse' of court process
Legal Protection Group has hit back with its defence document in the ongoing legal dispute with HDI Global Specialty, denying all the accusations as it branded the litigation unnecessary and serving no purpose other than as an attempt to strengthen HDI’s…