AA to extend free breakdown service for NHS workers & more…Keep up with what’s been happening this week in our latest insurance news round-up…
Over 100 bars, pubs and nightclubs are planning to take legal action against insurer Hiscox, over its insurance claims. Policy holders were told by the insurer that it would pay out if the business were to shut due to the virus. However, when business owners filed a claim, they were then told that business interruption policies do not cover the pandemic.
Following the government’s rules to extend the lockdown for another three weeks; The Automobile Association (AA) have announced that they will be extending their free breakdown cover for NHS workers.
The UK insurance industry has gathered together top insurance company bosses to form a committee which will work with government-backed terrorism reinsurance fund Pool Re to develop a pandemic cover.
US global insurance speciality group, Tokio Marine HCC has signed an agreement to acquire GCube, a leading renewable energy risks specialist. The agreement is still expected to officially close in the second quarter of 2020.
Insurer, Aviva, has pledged a donation of £5m to NHS Charities Together. The donation will help support the NHS in welfare and wellbeing of the employees, volunteers and patients; mental health support for NHS workers and assistance for patients leaving the hospital.
The Financial Conduct Authority (FCA) has ordered insurance companies to pay out claims to firms. Otherwise, they would have to provide a valid explanation to the authority as to why they won’t pay particular claim. This is done in the hopes to relieve pressure on firms during the pandemic.