Events

Critical financial rules for GI brokers’ FCA compliance. This comprehensive and interactive webinar will focus on the critical financial aspects of FCA rules - overall business solvency (compliance with adequate resources Threshold Condition 2.4), professional indemnity requirements/limits/issues (incl covid cover) and the onerous client money handling rules under CASS 5. The FCA has had deep concern with brokers’ financial resilience and has issued several surveys on this plus client money handling arrangements culminating with the Dear CEO letter of 30 September 2020.

Despite dominating much of press coverage for many years, due to the occurrence of Covid-19 around the globe Brexit is now getting far less press coverage, and there is a danger the insurance industry could slip into 2021 without fully considering the impact of Brexit. The UK left the EU at the end of the year and there will be implications for insurance contracts. Whilst there is a chance of something being negotiated the FCA are preparing for all eventualities. This webinar, presented by Alan Chandler, one of the most popular presenters in the UK will run through a brief history of how the EU has changed insurance, before exploring how the insurance industry could change from January. There will be Implications for nearly all classes of business including motor insurance, travel insurance, commercial insurance and marine insurance which will be explored as well as exploring what will be the position on insurers who passport into the UK.

This comprehensive and interactive one-hour webinar will focus on the judgment of the Supreme Court following the appeal of the FCA’s ground-breaking test case at the High Court. The appeal concluded on 19 November and the judgment will be handed down expeditiously. Four days were spent setting out starkly differing views between the FCA and insurers. The appeal judgment will be very clear and all parties will have to accept it. The FCA consider some 370,000 insureds have had payments denied and they have battled to convince the five Justices that sense should prevail and that a composite cause has operated – covid + government regulations + the public response and insurers have disputed this saying this is stretching causation too far. This case will be momentous and will set clear precedent as to the clarity of wordings and what needs to happen to ensure future cover (or lack of) is clear and understood by all parties. At the same time it will highlight the ongoing exposure for insurance brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they can access fairly-priced professional indemnity insurance rather than be subject to an unacceptable blanket exclusion.

Motor Legal Expenses (MLE) is a class of insurance frequently misunderstood, overlooked or dismissed altogether. For many claimants however, MLE can be a vital form of cover, and one which is changing significantly with the upcoming implementation of the Civil Liability Act. This important legal instrument is set to make sweeping changes to the way both personal injury and ULR claims are handled and calls for major changes in the way MLE is worded, priced and sold. The wide variety of policies, cover, and marketing options can be confusing for clients and sometimes for insurance professionals. This webinar seeks to demystify MLE and to clarify what needs to be taken into account when considering and recommending cover to clients. The webinar will be of value to those involved in Motor claims, underwriting, broking or anyone wishing to widen their knowledge of a highly topical and fast-moving aspect of general insurance.

One of the many things the Covid1-9 pandemic has taught the insurance industry is the importance of going through the various Bi extensions with clients and documenting these discussions. Failure to do this could leave the broker wide open to a PI claim against them. This presentation looks specifically at BI extensions, the purpose of each one of them and how in each case an incident could give rise to a claim. Many in the industry have an incorrect view of extensions, for example many discuss utilities extension cover with clients when they really mean terminal ends, so give a wrong impression of the coverage their policy is actually providing. This presentation will show you how to help your clients set a correct gross profit sum insured. This webinar will be highly beneficial for Brokers and Insurers alike.