BI covid claims – where are we now

BI covid claims – where are we now?

This webinar will provide an update post the Supreme Court Appeal judgment of 15 January 2021 and will focus on a number of various decisions made on complaints referred to the FOS, insurer statistics on claims payments, the Corbin & King v AXA High Court case (which they have decided not to appeal despite the fact that the judgment has gone against them) and the Stonegate pub chain action.

The FCA originally considered some 370,000 insureds have bought this cover from around 60 different insurers and the FOS does not appear to be over-stretching the reach of the judgment (but there is an interesting 26 page decision over an Allianz insured with a covid on the premises claim having been allowed).

At the same time it will remind brokers, all of whom will have arranged these policies for clients, to encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they are not blamed for having sold policies that have not fully catered for the needs of clients (and it is clear that a number of brokers have faced negligence actions). Plus we will look at whether you need covid to be covered under your PI policy going forward and what could happen if you don’t.

Learning objectives - by the end of this webinar you will gain insights into:

• FOS decisions in key areas – specified illnesses, on premises cover, plague, etc;
• Claims payment statistics;
• Various court cases;
• The advice process/what does this mean for clients/PII cover.

It is relevant to general insurance brokers/intermediaries, insurers, and any other market participants and everyone will receive a copy of the presentation after the talk.

Speaker bio

Branko Bjelobaba FCII joined the insurance industry in 1987 and has worked across the sector including PwC and GISC and has led his own consultancy practice since 2004. He works closely with BIBA (and has published its compliance manual since 2004) and the CII. He holds the CII’s Bridgewater Award for Exceptional Service, is a recipient of the Thomson Reuters Compliance Personality of the Year Award, the London Market People Award for Legal and Compliance and was Highly Commended in the 2021 CII Public Trust Awards.

Since the world went virtual he has provided well-received (even entertaining…) sessions to over 11,000 people and feedback has been superb:-

“I have had the pleasure of attending two webinars hosted by Branko this year, both times on fairly 'heavyweight' topics - the Supreme Court decision on the BI Insurance test case and most recently on the FCA's new GI pricing practices. In my opinion Branko is the epitome of a professional speaker - knowledgeable, engaging and enthusiastic about his subject, something which is essential when trying to convey often complex information. The tone and content of his webinars are always pitched at just the right level for his audience - not overly technical but at the same time imparting sufficient knowledge for you to feel that it was worthwhile attending. I'm looking forward to the next one.” Sarah Offord-Jones FCII.

“I attended the session provided by Branko for the Insurance institute of Northern Ireland. He covered in a very efficient and concise manner the Supreme Court decision on Covid and the consequences for the industry. The 1 hour passed too soon as was evidenced by the number of questions and comments from the audience. I would recommend Branko to any insurance body seeking practical information on this topic. You will not want to leave the session even for a coffee.” Tom McGrath CBE, FCII.

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