It was 3 a.m. on Monday and Captain Karsten Börner and his crew were already awake, preparing for an approaching thunderstorm just off the Sicilian coast. Moored behind their schooner was a luxury yacht that carried tech tycoon Mike Lynch …
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising rates. The Lloyd’s of London insurer …
Hippo Taps Hiscox Executive For Claims Digital home insurer Hippo hired a former Hiscox executive to be its first chief claims officer, with a mission to expand claims operations for the now publicly-traded California-based insurtech as it grows nationally. Grace …
British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19 pandemic and also faces “brand damage” from a legal dispute over policy wordings for pandemic-linked claims. Hiscox shares plunged 13% …
London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain’s Financial Conduct Authority (FCA) said on Tuesday. The FCA, which brought …
Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap, they offer businesses from …
LONDON — The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses …
The law firm that represents the Hiscox Action Group has commenced an arbitration against Hiscox Insurance for non-payment of business interruption insurance totaling £40 million ($50 million). The action group, composed of disgruntled Hiscox policyholders, is represented by London law …
Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim compensation for disruption caused by the coronavirus pandemic. The Financial Conduct Authority (FCA) also told all insurers to assess whether …
LONDON/NEW YORK — Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he …