Insurance industry damaged reputation say Brokers & more…Keep up with what has been happening this week in our latest insurance news round-up…
Although there has been a push for greater BAME representation in the insurance industry in the past year, Aston Lark chief executive has said that there is more that can be done to increase BAME in insurance and that the reporting of BAME data could become mandatory.
In a recent Insurance Brokers Pulse-Point Tracker (PPT) survey run by FWD Research; two thirds of UK insurance brokers who took part said that the insurance industry has damaged its reputation with how it has handled the coronavirus crisis.
The Government Actuary’s Department (GAD) have helped implement new measures to support the credit insurance market by helping to develop trade credit schemes back by £10 billion of government guarantees.
The government is to provide a £10bn guarantee for trade credit insurance in an effort to stop the market seizing up in the wake of the coronavirus crisis.
The International Olympic Committee is in talks with insurers over being compensated for the postponed Tokyo Games.
Analysts at AM Best believe that the Covid-19 pandemic will drive “significant” losses for US mortgage reinsurance business, even as the eventual impact still remains unclear.
French insurer AXA has identified 1,700 contracts signed with restaurant owners in France where the terms are not clear as to whether business interruption losses due to the Covid-19 crisis should be covered, its CEO told Le Monde in an interview.