How does one bet on there being torrential rain on 22nd June?
Events, dear boy, events
Just to point you in the direction of a few webinars that may be of interest.
You will hopefully have seen the circular we sent out earlier today with details of our latest offering around client money to be delivered by Morgan Lewis (founders Cliff Morgan and Tony Lewis). A copy of the email is attached.
Our friends at EY, who delivered a great session for us last week, are doing their own thing on insurance and Covid-19 a week on Wednesday.
And IIL/CII is running what sounds like an interesting lecture on the art of disagreement the day before – Tuesday 16th.
The lexicon of lockdown
It has been a while since we discussed the new language that is emerging through the corona crisis. But here are a few that have been really getting my goat in the past few weeks.
- The use of “settings” when you mean “places”. As in “the virus has been more prevalent in health settings”. Who dreamt this one up? Settings are something that get discussed when someone is preparing to invest the traditional three hours salary in an engagement ring. Or they are the reason why your computer never works properly. They are not a hospital nor a care home. And it doesn’t make you sound clever to pretend they are. I mean you Hugh Pym.
- “The R”. I mean, have we become so slovenly as a people that we just can’t be bothered to trot out “rate of infection”? And how will northern siblings cope with the fact that their affectionate possessive has been usurped? I mean “r kid” sounds really quite sinister now.
- “Follow the science” – because basing public policy on a soundbite from a Jennifer Aniston L’Oréal commercial is a cracking idea.
- “New normal”. Just no.
Feel free to write in with your favourites.
Hulle lot of shakin’ goin’ on
BIPAR has published the attached article by Karel Von Hulle – the architect of Solvency II. It sets out the reasoning as to why pandemics are impossible to fully insure. BIPAR has sent a copy of the article to both European Commission and EIOPA. Karel is a friend of BIPAR and a useful ally to have.
The search for a Masaya
Time also to check back in with how the rona is going for Danny Ortega and the people of Nicaragua. As we know from previous instalments, El Pueblo Presidente does not really believe in the virus, especially if it might threaten his attempts at stimulating an economic recovery to provide cover for his victory in the 2021 elections (which he will win by counting the votes himself). And, thus far, his policy seems to be being vindicated with only just over 1,000 confirmed cases of covid-19 and a mere 46 deaths. Positively Ardernesque. But this maybe because a few, just a few mind, of the people who have “journeyed to a different plane of life” after suffering “atypical pneumonia” have actually “died” of “the corona virus”? And now it is starting to take out his mates, will Daniel have a change of heart? To be continued…
Coughing up the axas
Confirmation today that Axa has decided not to challenge the French court ruling that determined that its business interruption policies did cover pandemics. It will now pay claims on all affected policies. Whether this is a forbear of what will happen once FCA test cases come to court, who knows. But we will find out by the beginning of August at the latest.
Oh goody, Prince Andrew is back in the news.
WEBINAR Key legal issues and potential pitfalls relating to the Client Money Rules
Pandemics and insurability-Karel Van Hulle-25 May 2020