UK News
UK Government Forms $12.5 Billion Reinsurance Backstop for Trade Credit Insurers
The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit ...
UK Agency Reportedly Targets July Court Date on Business Interruption Insurance
Britain's Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The ...
UK Insurers Must Pay More Coronavirus Claims: Parliamentary Committee
Insurers need to pay out on more claims related to the coronavirus pandemic, according to the head of the UK parliamentary committee that oversees the financial industry. "We are concerned that the ...
British Insurers Pursue Government Trade Credit Backstop
British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such ...
Regulator Warns Most Small UK Companies Lack Pandemic Insurance
Most insurance policies bought by smaller UK companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on ...
Brexit Update: Future BoE Head Urges UK and EU to Avoid Finance ‘Punch-Up’
Britain and the European Union must find a way to settle future differences over how Britain's huge finance industry can do business in the bloc without resorting to a "metaphorical punch-up," the ...
Strong Competition, Claims Inflation Confront UK P/C Insurers: A.M. Best
Market conditions for U.K. non-life insurers were difficult in 2019 as they continued to face strong competition and claims inflation, according to a report published by AM Best. Companies have had ...
MS Amlin Will Exit Several Classes of U.K. P/C Business
MS Amlin, the London-based insurer and reinsurer, said it will cease underwriting corporate property, real estate, casualty and package binders through its U.K. P/C business with effect from Jan. 31, ...