Legal
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The Financial Conduct Authority began seeking submissions from intermediaries last week.
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Generali, SIAT, Swiss Re, India International and PICC argued that the policies had an exclusive English jurisdiction clause.
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Claims were initially feared to soar as high as $34bn, according to a state regulatory agency.
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Following a recent court ruling ordering the payment of BI losses for a restaurateur, Axa will now pay others with similar wordings. -
Law firm Edwin Coe rallies more policyholders seeking claims for BI losses.
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The carrier will have to compensate a Parisian restaurateur for two months’ lost earnings.
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The lawsuit builds on prior findings by the state’s Supreme Court that coronavirus is a natural disaster.
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Company management is prepared to lose local court battles but believes it will win appeals, analyst Larry Greenberg noted.
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The broker is accused of failing to disclose material financial information about the deal.
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Daiichi secures an anti-suit injunction against the insurer regarding a claim for damage to cargo of iron ore in 2014.
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The decision comes after a review of more than 500 policies by law firm Mishcon de Reya.
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The latest version of Congresswoman Maloney’s bill would increase the scheme’s ceiling by $250mn.
