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Hiscox Action Group lawyers demand the regulator uses powers to speed up interim payments.
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A trade body and broker said payouts would be the “ethical approach” to support financially stressed businesses.
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The two biggest reinsurers are said to be taking up a leadership role as the market starts to address the T&Cs challenge. -
A memo circulated to brokers indicates the extent of the hardening underway in the London D&O market.
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The carrier probably won’t be the last to flag additional losses from events cancellation.
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Speaking on Tuesday, John Neal reiterated the market’s commitment to customers in the Americas.
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Olivier Hamon and Alice Batchili will write executive and professional lines products from the carrier’s Paris office.
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The law firm claims the widely used “resilience” wording should respond to government-ordered lockdowns.
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The regulator orders carriers to consider how they can “progress claims” now, irrespective of an appeals process due to kick off on 2 October.
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The carrier claims the Paris court decision runs counter to judgments in Toulouse and Bourg-en-Bresse.
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The executive says he is optimistic about the prospects for Bermuda.
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Financial Services Director General John Berrigan wants to establish a new working group which will report back with proposals in the first quarter.
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