Insurers’ billions untouched in run on banks

US Insurers have billions in deposits in troubled banks but there are few signs the banking sector’s problems are reaching the industry, ratings agency AM Best reported today in BestWire.

FCA-insurer stoush over BI payout erupts in UK High Court

A stoush between UK’s Financial Conduct Authority (FCA) and insurers over cover for business interruption (BI) during the covid-19 pandemic has erupted before Lord Justice Julian Flaux and Justice Christopher Butcher hearing a test case in the British High Court to find clarity on the issue.