An Italian reinsurer has lost its challenge against French insurer Covéa Insurance PLC's COVID-19 business interruption claim, with a London appellate court on Monday upholding findings that the pandemic met the definition of "catastrophe" used in the policy.
An Italian reinsurer has lost its challenge against French insurer Covéa Insurance PLC's COVID-19 business interruption claim, with a London appellate court on Monday upholding findings that the pandemic met the definition of "catastrophe" used in the policy.
AXA XL and other reinsurers have hit back at allegations that they are liable for claims totaling almost $190 million over planes said to be stranded in Russia after the invasion of Ukraine, arguing that the aircraft are not completely lost.
The U.K.'s retirement watchdog said Monday that a former company director was still being pursued for payment into a staff pension scheme, more than a year after he was slapped with a £1.8 million ($2.4 million) bill.
A private school embroiled in a historic sexual abuse scandal has sued its insurer, arguing it should cover any damages the school might have to pay in a barrage of cases brought by former pupils.
U.K. pension trustees should be aware of the impact of longer National Health Service waiting times on longevity figures when they come to calculate long-term liabilities, experts warned.
Britain must do more to tackle the global "fraudemic," as one in five adults in the world has fallen victim to fraudsters at total cost of £420 billion ($560 billion) in the past three years, according to a think-tank's new report.
The Financial Conduct Authority and Bank of England said Monday they have opened a digital securities sandbox for applications, enabling entrants to use new technologies to issue and trade securities in traditional financial markets.
The Royal London Mutual Insurance Society Ltd. said Monday that it has officially entered the bulk purchase annuity market after it completed several smaller transactions.
