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, courts cases including: Corbin & King v AXA (which they have decided not to appeal), Stonegate pub chain action, Greggs and several others.

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 incl a current one against Pound Gates). 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.

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.