Online Event - FCA Business Interruption Insurance Test Case - FOS decisions

The Insurance Institute of Cardiff invite you to an online event - FCA Business Interruption Insurance Test Case - FOS decisions

Event Details:

Friday 30^th July 2021 10:00 - 11:00 am

The webinar will be run via Zoom, a global web-conferencing solution. Zoom is easy to use, a link and joining instructions will be sent to you prior to the webinar.

About the session:

Following the Supreme Court appeal judgment I delivered 44 talks to CII local institutes attended by 2,355 members and now have a further talk on the subject.

The one-hour webinar is again comprehensive and interactive and will focus on a number of various decisions made on complaints referred to the FOS following claims that have been turned down by insurers with the FOS considering the judgment of the Supreme Court in its decisions.

It will also provide an update following the judgment was handed down on 15 January 2021 to include insurer statistics on claims payments and on the Supreme Court's Declarations (still awaited).

20,347 claims have been settled now costing insurers £757m (as at 14 June to including interim payments) but 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.

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 indeed brokers may be facing negligence actions right now). 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

About the speaker:

Branko Bjelobaba FCII started his insurance career in 1987 and has worked across the sector including stints at PwC and GISC and has led his own consultancy practice since 2004. He works closely with AMII (retained compliance consultant since 2004), BIBA and the CII and has provided hundreds of well-received (even entertaining!) training events throughout the UK. He 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 CII Public Trust Awards 2021.

Learning Objectives

• FOS decisions in key area - specified illnesses, on premises cover, plague, etc.;
• Claims payment statistics;
• 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.

Further information.

A link will be sent via your email address supplied at the time of booking. PLEASE DO NOT share this with anyone else.

Please note that this webinar will be hosted on the Zoom platform which may be restricted by some employers. Members may need to utilise their own personal devices in these circumstances to access the platform.