Keep up with what has been happening this week in our latest insurance news round-up…
Insurance market, Lloyd’s of London has published a few different ways the Insurance industry can recover from the economic and societal impact of the current Covid-10 crisis; and how they can also prepare for further pandemics.
UK digital insurance app, Brolly has been acquired by the insurance company, Direct Line Group. The transaction is expected to formally close during the third quarter of 2020.
In the Financial Conduct Authority’s BI test case, defendants such as Hiscox, RSA and Zurich have said that their case is “an orthodox application of core principles which themselves exist to avoid unfairness”.
Leaders of the European Union have met for the first time since the start of the coronavirus pandemic for a two-day summit to reach an agreement on how to deal with the £680bn coronavirus recover fund as well as negotiate their seven-year budget.
A survey by the Chartered Insurance Institute (CII) has shown that according to 221 CII insurance professionals; customers have struggled to afford insurance premiums due to the coronavirus pandemic.