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FCA test case insurers hit back

Insurers involved in the Financial Conduct Authority (FCA)’s test case for BI disputes have contested the regulator’s assertion that the Covid-19 outbreak was the proximate cause of insureds’ losses.

Gavin Bradshaw, 10 July 2020
Cannabis insurers face riot losses

There has been a spate of claims in the cannabis insurance market after riots and looting broke out in many US cities earlier this month, according to broking sources.

Gavin Bradshaw, 10 July 2020
The Week in 90 Seconds

Lloyd's business-planning outlook, Aon-Willis' merger update and the Covid-19 spur to reinsurance buying.

Samuel Casey, 10 July 2020
PG&E $11bn wildfire settlement approved

Pacific Gas and Electric Company (PG&E) has received approval from the California bankruptcy court for an $11bn settlement with insurers related to wildfire losses in 2017 and 2018.

Gavin Bradshaw, 10 July 2020
Guy Carpenter predicts $160bn 2020 loss total

Insured losses for 2020 could make it the largest year for claims in history, according to Guy Carpenter, with losses totalling $160bn in the broker’s worst-case scenario.

Gavin Bradshaw, 10 July 2020
The Full Perspective: Lemonade's surge, Allstate-NatGen

This week the team looks at the consequences of Lemonade's highly successful IPO and the implications for the InsurTech's prospects.

Charlie Thomas, 10 July 2020
Marine market eyes $49mn Covid-19 claim

A $49mn marine liability policy held by supply ship operator Rodi Marine is expected to be one of the first in the market to receive a Covid-19-related claim.

Gavin Bradshaw, 10 July 2020
Teva claims threaten $600mn D&O loss

The directors’ and officers’ (D&O) insurance market is bracing for a total loss of around $600mn for claims against American-Israeli drug manufacturer Teva Pharmaceuticals.

Gavin Bradshaw, 10 July 2020
South Korean downstream loss hits $600mn

The loss from a March explosion at a South Korean petrochemical plant has expanded from about $200mn to around $600mn after business interruption (BI) claims pushed up the initial loss estimate.

Gavin Bradshaw, 10 July 2020
Argo withdraws from SME cyber

Argo Group has exited the SME cyber market, leading to the departure of senior underwriter and group head of cyber Paul Miskovich from the carrier.

Gavin Bradshaw, 10 July 2020

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