Losses

Some 4800 properties were damaged in the largest UK flood event since December 2015.

A second market return is scheduled for 17 April, with no “further requests planned”.

Strong investment returns allowed the business to post a $165mn profit for the year.

The order also forbids insurers operating in the state from charging fees for late payment.

The initial estimate represents the third largest industry loss for an east coast low pressure event.

The arrival of coronavirus has laid bare a huge insurance gap for which there is currently no real solution.

The proposed law would put all insurers operating in the state on the hook for Covid-19 losses.

Local authorities noted the casualties would have likely been worse if not for business closures due to Covid-19.

The majority of losses are thought to stem from the UK, Germany and Belgium.

A ruling in the Oceana Grill case may set a precedent for other coverage disputes of this type.

Plummeting passenger volumes will directly affect premiums collected by insurers.

The International Olympic Committee buys $800mn of event cancellation cover for the games.