COVID-19

Chinese insurers withdraw cover following zero-Covid relaxation

Chinese insurers have stopped offering low-cost insurance that covers Covid-19 infections after the country’s government relaxed its controversial and long-standing zero-Covid policy.

QIC Europe faces lawsuit from Welsh nightclub over Covid losses

The owner of a bar and nightclub in Wales is suing QIC Europe Ltd and its subsidiary to recover business interruption losses it said it suffered as a result of the national Covid-19 lockdowns.

High Court orders UK insurers to consolidate hospitality Covid-19 BI claims

London’s High Court has ordered UK insurers to participate in a consolidation of a number of outstanding Covid-19 BI disputes involving hospitality companies with similar “premises” wordings in a bid to provide “much needed clarity”.

Axa and Altrincham FC settle BI dispute ahead of London trial

Axa Insurance has settled a long-running legal dispute with a semi-professional football club over the payment of claims related to business interruption (BI) losses suffered as a result of the pandemic lockdowns, The Insurer can reveal.

Insurers fight back at ExCeL owner’s £16mn Covid-19 closure suit

NY’s highest appeals court takes up restaurant owner’s Covid coverage dispute

The New York Court of Appeals has agreed to hear Consolidated Restaurant Operations (CRO)’s Covid-19 coverage appeal against a Swiss Re subsidiary.

Anti-vaxxer former employees sue FM Global following dismissal over mandate

A group of former FM Global employees who were fired from the insurer last year over their objections to its vaccine mandate for religious reasons have filed a class action lawsuit against their former employer, accusing it of “virtue signaling” and “currying political favour”.

Insurers to seek appeal on Stonegate, Greggs and Various Eateries BI rulings

London’s High Court has granted insurers MS Amlin, Liberty Mutual and Zurich permission to put forward applications to appeal selected areas of a ruling which handed them partial victory in a legal battle against Britain’s biggest pub group Stonegate over Covid-19 business interruption (BI) losses.

Allianz targeted in new Mishcon-led BI action group

Mishcon de Reya has formed a policyholder action group to start legal proceedings against the UK arm of insurer Allianz to recover business interruption (BI) losses suffered due to Covid-19.

Lloyd’s CEO Neal chides insurers over Covid stance

Lloyd’s CEO John Neal acknowledges the industry didn’t “cover itself in any glory” over its reluctance to pay out for Covid-related claims that were later held to be valid.

London’s ExCeL sues insurers for £16mn over pandemic BI losses

The operator of London’s ExCeL convention centre is suing the UK arms of insurers Allianz, Aviva, Chubb, CNA, RSA and Zurich for £16mn ($17.9mn) to recover business interruption (BI) losses it said it suffered as a result of the national Covid-19 lockdowns.

What the Stonegate BI judgment means for insurers

The High Court handed down judgment yesterday in the high-profile legal suit between the UK’s biggest pub owner Stonegate and its insurers MS Amlin, Liberty Mutual and Zurich, in a landmark ruling in the ongoing saga of Covid-19 business interruption (BI) disputes. The Insurer analyses the key aspects of the ruling.

High Court rules in favour of Greggs in initial BI case against Zurich

Greggs plc has won its high-profile business interruption (BI) trial against insurer Zurich, with the UK’s High Court substantially accepting the bakery group’s arguments that government restrictions imposed during the Covid-19 pandemic represented multiple events under the terms of its policy.

IAG and Suncorp lower BI provisions following High Court ruling

Australian insurers IAG and Suncorp have reduced their provisions for Covid-19 business interruption (BI) claims after the High Court last week rejected appeal applications related to the industry’s second test case.

IAG shares halted following High Court BI ruling

Shares in ASX-listed IAG were put on a trading halt on Friday after the Australian insurer said it needed time to consider the impact of a court decision denying its appeal in a high-profile business interruption (BI) test case.

Australia’s High Court declines special leave applications in second BI test case

Australian insurers and policyholders have been denied special leave to appeal the Full Court of the Federal Court of Australia’s judgment in the country’s second business interruption (BI) insurance test case.

MGU Eaton Gate fights back against strip club owner’s “premature” BI suit

MGU Eaton Gate has fought back against a legal suit brought by the owner of a London strip club over unpaid business interruption (BI) insurance claims, arguing it has been wrongfully named in the suit and that the case had been launched “prematurely”.

FCA: UK Covid-19 BI payouts top £1.51bn

Insurers have now paid out more than £1.2bn ($1.38bn) in final payments to UK businesses with valid claims for pandemic-related closures, according to data from the Financial Conduct Authority (FCA).

FCA warns on governance and oversight failings in BI claims handling

The UK’s City watchdog has accused insurers of failing policyholders and falling short of expectations in their handling of pandemic-related business interruption (BI) claims, warning it will move quickly to protect customers where continued evidence of poor practice is found.

Vermont justices issue first state high court Covid-19 verdict in favour of policyholder

Vermont’s highest court has reversed a lower court’s granting of summary judgment to insurers in a Covid-19 business interruption case brought by the US’s largest military shipbuilder, making it the first state supreme court to issue an opinion in favour of policyholders in such cases.