Keep up with what’s been happening this week in our latest insurance news round-up…
NGOs urge insurers to take a ‘green’ approach in COVID-19 recovery
25 NGOs globally wrote a letter to insurance associations to use their expertise to help create a green economic response. They have asked insurers to support recovery programmes that will help limit global warming to 1.5°C.
Britain has temporarily removed sales tax on essential personal protective equipment; to help ease the finances of charities, businesses and care homes. Therefore, it will save more than £100m for those buying equipment, such as face masks and surgical gloves.
Simon Mabb, MD of NDML Insurance has asked the Chancellor in a letter to release some of Pool Re’s funds to help businesses in the hospitality sector who have been affected by the pandemic.
Data analysed by law firm, Herbert Smith Freehills, has shown that insurance claims are most likely to succeed in UK courts; as they warn that the industry will be been under scrutiny on how it responds with the COVID-19 pandemic.
The Hospitality Group Action (HIGA) has launched with the aim to bring claims against insurers who have not paid businesses on COVID-19 related business interruption claims. The group is open to businesses who have been forced to close due to the lockdown.