Hiscox
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The ratings agency says that it expects the company to retain capital adequacy even assuming Covid-19 litigation.
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The Hospitality Insurance Group Action is the latest collection of firms to fight against denied claims.
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UBS and Peel Hunt note uncertainties around the (re)insurer’s BI exposure.
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The carrier insists its capital position remains robust and it is well-placed to pay expected Covid-19-related claims. -
If lawyers can establish enough facts to support the case then Harbour will provide the backing to take it to court.
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Hiscox’s Olly Durell, MS Amlin’s Daniel Black and Sarah Reeve all join the company.
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Uncertainty about future mass gatherings has reduced the number of clients coming to the market.
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The group has attracted more than 200 policyholders in dispute over BI cover.
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The Night Time Industries Association becomes the third business group to fight the carrier over denied claims.
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In an earlier-than-expected trading update, Beazley estimates net $170mn exposure to the pandemic, excluding liability lines.
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The carrier predicts the pandemic and associated capacity contraction will lift rates.
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The request for data by 27 April comes amid escalating market concerns around the breadth of BI coverage.
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